Try "Smart Startups: How Entrepreneurs and Corporations Can Profit by Starting Online Communities" by David Silver. David is an angel investor who thinks 10,000 social networks will blossom in the next two years, and wants his readers to be among the ones who start them. He'll invest, it seems, if you follow his guidelines, and you'll avoid venture capitalists and make more money.
The key is to appreciate we humans' social needs (support, validation, status, etc.), then build a business that gives people enough value that they're willing to pay in advance, thus providing float -- one of the most beautiful words in the English language (paraphrased). Your cost of goods? Zero, if you have given people a reason to contribute.
Monday, July 21, 2008
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