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Infoproduct vs Social Network

by selfmadetycoon
6 replies
Hey fellow warriors, I'm still considered new to this forum. I have a question that causes conflicting drives from within. The question is I have a plan to start a social network but the thing is, isn't starting a social network capital intesive? I thought so, So my approach was to start with a infoproduct because it's not too capital intensive then once I start generating passive income from that business I can start my social network. Is this a good approach? I have conflicting drives because the social network is more contribution orientated meaning I don't see it making me a million dollars but I see it as it will be worth a million dollars. I don't see it making me money within the first year or two years. Should I use the infoproduct business as a stepping stone to my million dollar idea or should I start with a social network? I have passions for both but I wouldn't do them at the same time and I'm a strong believer in "There's no need for a plan B because it distracts from plan A". I get paid from my night time job about $600 every two weeks so I have some capital to start either. Any advice or suggestions would really help.
#infoproduct #network #social
  • Profile picture of the author rusty1027
    Setting up a social network needn't be expensive at all. You'll need a domain name and hosting, but once you have that just install WordPress (free), add the plug in BuddyPress (also free) and voila - you've got the structure in place to run your own social network.

    The reason I say "structure" is because after installing the above, that's all you have. You will still have to configure everything, make theme changes (the default theme is very bland) and add some content. It will take time and work, but very little money.
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    • Profile picture of the author selfmadetycoon
      Thanks for the suggestion. I will look into it.
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  • Profile picture of the author TopKat22
    I guess it depends on your purpose. Do you want to make enough money to quit your job?

    If so, go with the method that will most serve that purpose.

    Also, realize, there are a lot more ways to make money online than just what you have listed above.

    And in any endeavor, you can do it in a way that you are helping people.

    As a matter of fact, money always follows service to others.
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    44 days in and we broke the $10K a month recurring bench mark.

    Guaranteed 60% Opt In Rate Traffic-Real People-Fresh Today-High Quality Biz Opp traffic![/URL]
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    • Profile picture of the author selfmadetycoon
      Originally Posted by TopKat22 View Post

      I guess it depends on your purpose. Do you want to make enough money to quit your job?

      If so, go with the method that will most serve that purpose.

      Also, realize, there are a lot more ways to make money online than just what you have listed above.

      And in any endeavor, you can do it in a way that you are helping people.

      As a matter of fact, money always follows service to others.
      My purpose in life is to create value for others. Both creating info products and creating a social network are both contribution orientated as well as aligns with my strengths. I am only working my night time job simply because it's a temporary source of capital.
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  • Profile picture of the author Aaron Doud
    On the social network idea why would people want to join your social network?
    What would make it different from all the others?
    Linkedin works because it is different from Facebook. Myspace failed because Facebook was the better general social network. Mainly because Myspace allowed people to customize their pages too much. It looked like crap and we all got tired of it. Well that is my opinion anyways.

    So unless you truly have a unique idea the info product is the way to go imo. And if you do have a unique idea you may need to look into what the kids that set up myyearbook did.
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    Aaron Doud - Sales & Success
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    • Profile picture of the author selfmadetycoon
      Originally Posted by lordauric View Post

      On the social network idea why would people want to join your social network?
      What would make it different from all the others?
      Linkedin works because it is different from Facebook. Myspace failed because Facebook was the better general social network. Mainly because Myspace allowed people to customize their pages too much. It looked like crap and we all got tired of it. Well that is my opinion anyways.

      So unless you truly have a unique idea the info product is the way to go imo. And if you do have a unique idea you may need to look into what the kids that set up myyearbook did.
      The social network will be different simply because it's not going to compete with other social network sites. In fact it will be compatible for twitter,facebook, etc. The way social networks are created are from prototyping on other social networking platforms then positioning it next to it. Myspace got kicked to the curve because facebook had a better idea. I guarantee you this, Someone out there has a better idea than facebook and he/she will use that platform to create a seperate brand. I don't know when but it's a matter of time. Basically I acknowledge what facebook, twitter, does. I will allow them to do their own thing and what they do best.
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