Factors To Consider When Starting A Social Networking Site

Social networking sites have become very common in modern days. These sites are well organized and their sole aim is to bring people together. They range from enormous sites such as Facebook to smaller sites such as Ravelry that is aimed at people interested in knitting.

These sites are very lucrative to have. For example, Mark Zuckerberg launched Facebook in 2005 and in 2008 he was named among the richest Americans with a net worth of $1.5 billion. Due to the lucrative nature of the business, it’s wise that you consider starting your own social networking site.

Factors to consider when starting a social networking site

There are a number of factors that you should consider when starting a networking site:

One of the factors is your niche. This is your target market. If you want to start a general site you should remember that you have to go head-to-head with the most popular sites on the Internet.

For example, you will have to compete with sites such as Orkut (in Brazil), Facebook (in United States), Bebo (in the United Kingdom and Ireland) and Hi5 (in China).

To increase your chances of being successful, it’s wise that you start a site that targets a given population. For example, you can start a site that targets teachers in your area. You can also start a site that targets people interested in a given hobby.

Another factor you need to consider is the features that you need on your site. To prevent your site from being a chaotic mess, you should only have the features that are ideal for your niche market.

Another thing you need to consider is hosting of your website. If you expect your site to grow fast, you should go for a host that will provide you with enough storage and bandwidth to meet your needs and that of the people using the site.

The final thing you need to think about is the money. You should remember that for you to build an epic site you need a lot of money. The good thing is that if you have a great idea, you can approach venture capitalists who will invest in your dream.

All you need to do is to prepare a business model to pitch and arrange a meeting with some of the investors that you think will be ideal for you.

Conclusion

These are the factors that you need to consider when creating a social networking site. Remember that as your site grows, you will need to add more features or update the current ones; therefore, you should be prepared for this.

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