Social Networking: Its importance and as an Attractive Online Business

The significance of social networking in our daily lives can not be downplayed. Many people relied on social networking to connect with their friends and families. The technology brings people together, builds new relationship and re-establishes a once lost relationship. Sometimes, it becomes the only link that people have for individuals that are geographically away from them.

Social networking takes interaction, communication and dating in different form. As technology evolves, the people go along with it. Now, it is easy to get updates about what your friends are doing, communicate with your friends in real-time and even get information about what’s going on within your network.

source:sophisticatedlitigationsupportblog.com 

The business trend nowadays swayed business owners and marketers to use the media to establish online presence, generate new leads, help find potential business partners, extend their marketing reach and among other business functions.

The most popular and profitable among the bunch is Facebook. Statistics (Facebook) shows that there are over 750 million active users.  FB has been raking revenues mostly from advertising. Mashable reported a whopping $2 billion revenue in 2010.

Other social networking giants like Myspace, Twitter and LinkedIn are enjoying massive revenues too. With all the news of success from these giant names plus testimonies of many niche social networking sites, it is not surprising that many business-minded individuals would take their chances in creating their own with the hope of making it big. If you are among them, the next question is: How to start a social networking site like Facebook? There is not one single and easy answer for that. Like any other businesses, creating a social networking site like that comes with a risk. But if everything is planned well and the tactics are executed carefully and accurately, I think there is no reason not to succeed in your endeavor.

Among the things that an entrepreneur should consider when starting out his own social networking include the web hosting service or social networking script provider, initial investment, financial source, market and business objective. Coming up with a detailed plan, like most businesses, helps an entrepreneur in the decisions and actions to take.

(various sources)

Also read previous blogs: 

Social Media Footprint
Why is There a Need for Online Presence

Social networking and online dating