The Social Network Business Plan: 18 Strategies That Will Create Great Wealthby David Silver
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All of us know that users of the Web do not read advertisements on the websites we visit, yet the online communities are emerging as the next great media rely solely on this method to produce revenue. In The Social Network Business Plan, social network expert, David Silver presents and explains 18 cutting-edge methods to create revenue for social network websites--none of which are advertising. He also predicts the demise of seemingly successful online communities such as MySpace and Facebook that rely on advertising as non-sustainable modalities. Silver describes and explains that in the future new products and services will be introduced, talked about, rated, reviewed and recommended - or killed - by online communities. One example of the 18 new revenue channels that online communities are adopting is the sale to vendors of anonymized conversations of the community members concerning those vendors' products or services. Another example is online communities who partner with the internet providers to receive payment when a particular online community's information is downloaded usinf that providers service. The other sixteen revenue channels are equally head-turning!
Silver is the only angel investor, operating down where the rubber meets the road, who is investing in online communities in their infancy, and writing about which ones will win and which ones will fail.
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Meet the Author
David Silver is the Pied Piper of social networks, having funded more than a dozen of them, including onesite.com, iboats.com, and collarfree.com, and has consulted for pensiongovernance.com and many others. Before the social networks wave crashed onto his shore, David provided the early stage capital for ActMedia, Cognition Technologies, Frontier Telecommunications, Intelepeer, TIE/communications, and Victor Kiam's LBO of Remington Brands, among more than 600 other entrepreneurial companies.
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Most Helpful Customer Reviews
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I was blown away at the fact how easy Mr. Silver explain Social Media and how to create a Social Media Network. This book is on point and very easy to read and very good. It is being sleep on for the wrong reason and that is a shame because it does give you a blueprint to launch a successful social network via the internet. I highly recommend that you get a book that will allow you to get out of bondage and into success. Every linchpin should have this book as a reference and tool to launch their empire.
Originally, I purchsed this book in search of a how-to guide for writing a business plan for social network sites. I was pleased to find that this book was a guide to new possibilities of generating revenue and building strong loyalty within your online community. The author expresses the amazing potential that social networks have in transforming the "old business model." This book was extremely helpful in the developement of my business plan and the creation of my social network site. I highly reccomend it.
I would have to say that the title of this book is a bit of a misnomer and my expectations were much greater. Inasmuch as I, myself, have recently launched a SN site, I was looking to access quality information and more granular details from an insider perspective that relate to how the existing SN models are driven, challenges they face, trends, and issues, as well as grasping better financial and technical requirements. What the author does set out to do, however, is to suggest that there is an alternative model to build and grow social communities. He attempts to explain how this might be achieved by relying on users as opposed to advertisers for revenue. He identifies what he believes are 18 alternative, sustainable revenue channels ranging from member "subscriptions" to "tip jars". These suggestions are factually untested on a large scale, they certainly have very obvious drawbacks and are debatable at best. It reminded me of my days in law school when one of my professors argued, with a fair amount of success, how law firms could operate as non profits and essentially achieve the same goals. Similarly, the rather novel ideas offered by the author are undoubtedly thought provoking but do not reflect the framework in which more prominent, and tested businesses operate.
Well, let me say this about David Silver's latest book, "Your Social Network Business Plan: 18 Strategies That Will Create Great Wealth". It's definitely NOT an old, revamped collection of the "same old, same old". In fact, you could say that he's a "factory for new ideas". In the beginning, he spoke about an incredibly "disruptive force" that's emerging in the world of advertising. But, he immediately went on to state how those affected would be reborn as strategic partners and attach themselves to his new promotional model dubbed "recommender communities ". Anyway, when I bought his book, I half-expected to see a rehash of all the things that I was already planning to apply to my own social websites. Well, David surprised me. He delivered a multitude of fresh ideas. In fact, I didn't even notice the usual standbys for generating supplementary income (i.e. auctions, classifieds, coupons, etc). Instead, he opened up a dialogue for social network designers to create newer and more innovative ways to generate revenue and grow membership. And, if you're a social communities entrepreneur, this means you get to enjoy the benefit of larger, more profitable cash flow, coupled with an increase in the overall worth of your business. I don't know any businessmen who would ask for more.