What’s the difference between a Pets.com and a Zappos? They both saw a market segment that people spend billions of dollars a year on. They both saw a way to deliver products more easily and cheaply online. One became emblematic of dot-com excess and the squandering of millions and millions of dollars; the other company is worth more than a billion dollars. They both had vision—what Pets.com didn’t have was a sense of priorities. They didn’t know what to do when.
