Kickstart ROI by Capitalizing on Social Networking

Social networking can help entrepreneurs cater to Web- or cell phone-based communities, theorizes one author.

Smart Start-Ups

Even if you're not about to launch a new business, Smart Start-Ups has something for you. Author David Silver predicts that over the next three years, social networking ventures will become major profit centers. By capitalizing on social networking, would-be entrepreneurs can deliver services to Web- or cell phone-based communities. Because these services are largely user generated, they offer serious ROI.

Silver devotes several chapters to outlining business plans that he has dreamt up, from a hotel where users can design and request room features online to a consumer reports-type service that aggregates user product ratings in stores via radio frequency identification tags.

Silver also includes tips on marketing a startup with Web 2.0 tools and a test to determine the ROI of a new venture. Smart Start-Ups speaks to your inner entrepreneur, but it's really a primer for all knowledge workers on harnessing the collective intelligence of community. (John Wiley & Sons Inc., 288 pages, $24.95)

Lauren Horwitz, former managing editor, production, for CIO Decisions, is now managing editor for TechTarget's Data Center Media Group. Write to her at lhorwitz@techtarget.com.

This was first published in June 2007

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