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Would it be worth it?

by Complexity
15 replies
I have thought of an idea that could potentially be the 'next big thing' in terms of social networking. I have an idea that could bring famous people and their fans together, but that would be the major issue with the idea. Would it be worth the money investing to run with the idea, and hope to get lucky with it? I genuinely believe it could out do facebook, but the main issue is.. would it be worth the risk? I think to get the website up alone could cost thousands.

That being said, another risk I could face is someone having a similar idea, considering I'm sure there are thousands of concepts similar to Facebook since it became the biggest website.
#worth
  • Profile picture of the author twister85
    Everything is worth trying. without testing no one can judge the results, you might end up making millions or losing them. Give it a try and see yourself.
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  • Profile picture of the author Complexity
    I don't have millions to lose.
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  • Profile picture of the author twister85
    An Idea can change you life. but you see we cannot false lead anyone by no clues. the exact plan or overall system might be of some help.
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  • Profile picture of the author Complexity
    My general question would be how hard would it be for people to convert from facebook to this idea? I believe that once one famous person starts using it, many people would begin to use it. But that would require an incredible amount of luck, right? To me the goal seems unrealistic, but not to sound up myself, it could work.
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  • Profile picture of the author hustlinsmoke
    What are your plans to get the celebrities on your site, that is the only thing I see that would slow you down. If they were on there everything else would take care of itself in terms of traffic.
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  • Profile picture of the author Complexity
    That is exactly my issue, although it COULD work without celebrities to begin with, but it would be much better WITH them.
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  • Profile picture of the author curationsoft
    why don't you give your idea a try, business is like a gamble just always be reminded that spend what you can afford to lose.
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  • Profile picture of the author Complexity
    I'm curious, would it be risky discussing it with other's? I have discussed it with two personal friends who think it could also have potential IF it was seen by celebrities.
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  • Profile picture of the author Gambino
    Celebrity endorsements could potentially make any venture successful. That's a big reason why twitter is successful. Why would celebrities be interested in joining your site? Get paid? Connect with fans? How would it be different than twitter?

    There are literally hundreds of questions I would ask about your potential venture. And without knowing the answers, I would bet that it would be unsuccessful, unless you have millions of dollars - or something very unique. Not to say people haven't, or aren't actively, trying it.
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  • Profile picture of the author owais211
    Banned
    It seem you are not in for business...its an idea worth trying.
    Just give a try
    Good luck!
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  • Profile picture of the author Joe Mobley
    Originally Posted by mikedcarroll View Post

    Create a plan to get yourself started and then micro-test on a small niche. If it takes off, good. If it fails horridly, then you didn't lose much to begin with.
    How To Test Business Ideas And Minimize Risk (Little Bets)


    If you like this idea, this is Peter Sims talking about his book, Little Bets.


    All the best,

    Joe Mobley
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    .

    Follow Me on Twitter: @daVinciJoe
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  • Profile picture of the author Writer Army
    You can try out your idea, but I would invest as little as possible. There's always the chance the project could not work out and if that happens you don't want to lose too much.

    Originally Posted by Complexity View Post

    I have thought of an idea that could potentially be the 'next big thing' in terms of social networking. I have an idea that could bring famous people and their fans together, but that would be the major issue with the idea. Would it be worth the money investing to run with the idea, and hope to get lucky with it? I genuinely believe it could out do facebook, but the main issue is.. would it be worth the risk? I think to get the website up alone could cost thousands.

    That being said, another risk I could face is someone having a similar idea, considering I'm sure there are thousands of concepts similar to Facebook since it became the biggest website.
    {{ DiscussionBoard.errors[8307537].message }}

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