Everyone knows the story of Facebook. How the student designed the world’s most popular social network and turned it into a money making machine! Try to make money by creating a new social media site!
Alright, let’s be honest. You will very likely not get the massive success Mark Zuckerberg had with Facebook. Of course you never know until you try! Even if you don’t create the new Facebook, you are still able to make money by creating a social media website.
The good thing about social network sites is that the possibilities are endless. You can keep it very general, but probably the most chance for making a successful new social network is by making an emphasis on a specific subject.
General social networks are already built and it is difficult to compete with something like Facebook. Perhaps something focused on sports networking or fashion may be a good idea.
If you have a good idea and you are setting up the social network, which can be done when putting money and effort in it, then you may make money by putting ads from business organisations on your website.
Other possible ways to make money by creating a new social media site are, by creating premium memberships for which people have to pay.
Whatever you will be doing in terms of setting up a social network site it needs to have a touch of uniqueness and something special to get it popular. Another thing is marketing. You have to promote it well. Of course if your idea and website is truly epic than the word of mouth will do its thing and you will get members anyway.
Of course you need to figure out yourself how to actually put a social network sit online. Use popular hosts and spend some money on this when you think you really have great idea! More expensive hosts/servers may sometimes result into receiving more visitors and more money, as the site will be faster and of better quality.