Planning your social network is critical to its success. Time invested in the planning phase will save you time later on. Effective planning can allow you to identify vulnerabilities and opportunities in the business model.
Research The Market
It is critical that you develop an understanding of any similar social networks. Perhaps they exist in a different vertical but provide a similar service. Through developing a keen understanding of the market, you will be able to identify features you could adopt. Innovation is vital to success, but it’s not always necessary to reinvent the wheel.
Information Architecture & Prototyping
Decide on the right architecture for your social network. When designing the information architecture (IA) of a social network, there are certain unique aspects to consider. Read this article on social network information architecture to find out more. Read this article to find out more about prototyping your social network.
Set Business Goals
Establish goals for your social network. Do you want to acquire a certain number of users in year one? How long do you have to reach profitability? What is your anticipated revenue per user? Find out more about deciding on business goals for your social network in this article. Once you have decided upon goals, you will know your metrics for success.