Welcome to aaron chua make money blog

Hi, welcome to my blog. In this part of my world, I talked about how to achieve financial freedom by learning how to make money online through creating sites and earning from them.

Below are some current and past make money projects that details my learning journey.

My current experiment in making 50 amazon site niches. If you have not been following this challenge, best place to start is this resource page for the amazon challenge, that lists all the articles that I have written so far.

My experiment in making 1000 a month through adsense in 9 months.

If you came here looking for low cost startup ideas, here are 140 startup ideas that you can browse through.

Tuesday, 21 April 2009

Is there money in social networks?

Social networks have a very bad name. Whenever some startups open their pitch saying: we are a social network for XXX, many people would roll their eyes. I was one of those people. I thought that the social networking game has already been won. However, after reading the book "the social network business plan", I realise we may be on the blink on seeing what social network can unleash.

One of the reasons we write off social networks is the narrow perception we have of them. We have a fixed view of the kinds of interactions that social networks enabled . Typically, we are restricted to think of interactions such as friending, poking, updating profiles etc. That is too limiting.

If we expand our view to include 'social networks' such as Threadless, PatientsLikeMe etc, the scope for powerful interactions will increased. The opportunity then is to apply these interactions to new markets that required such organisations. Think of markets as radical as fighting terrorism, conducting medical research etc.

One way to spot these markets are the gross margins of current companies in that market. A high margin might suggest some form inefficiencies that the companies are using to exploit the consumers. Social networks are a way to shift the power back to consumers.