Indeed, think of what's involved in the typical business trip. Airfare. Hotel. Rental cars and/or taxis. Lunches. Dinners. And at least a day of your time, if not the better part of a week.

A videoconference, on the other hand, requires only a few minutes of setup, some equipment you may already have, and the time it takes for the actual meeting. Like I said: the ultimate business hack.

But how does this fly in the real world? Can Skype and similar services really take the place of a face-to-face sitdown at a conference table or business dinner?

I think it depends in part on the business. Cambridge, Mass.-based Plan B Salon, for example, offers 15-minute video consultations, giving customers a chance to learn about their options and ask questions before actually traveling to the salon.

In Lafayette, Ind., therapist Buck Black offers counseling sessions via Skype, thus allowing him to have a customer base that spans the country instead of just the city.