Start your own social network

As a followup to a comment that I just wrote I want to say something about my view on creating a social network (or a site in general).

Since it's pretty easy to create a social network or user generated content site nowadays, I find lots of new sites in these areas. Many are pretty good, and some are less impressive. Since I am a very generous person I will share my views on creating a website.

1. Business or pleasure
Are your site meant to be for business usage or for pleasure? Focus on one of these fields - When I'm working, it's not likely that I (or my employer) want me to be distracted by to much fun, and when I'm not working I might want to be able to relax a bit and even show pictures of myself at a party - That I wouldn't do if business contacts where using the site.

2. Choose your target audience
You must have a legible target audience when you plan your site. Will your site appeal to the taste of everyone? Should it be a general site or are you targeting people with a special hobby or profession?

When you choose your target audience, try and choose one that includes you. If you're into comics, do something with comics. If you want your site to be successful you'll have to marry it for a few years, so try to select an area that you like or are interested in yourself.

3. Check the competition
I guess that you must have some ideas that is value adding to your audience. Unless you have a huge marketing budget or are very good at guerrilla marketing, it will be hard for you to reach your audience if you aren't doing something new and fresh.

4. Get something out there quick, and get feedback
Since you went to step four your site have a clear target audience, and it has enough new and interesting functionality to appeal to the audience.
Now communicate with your visitors and let them co-drive the development of the site.

Or ignore the steps and follow your intuition from start to end! Either you will have a good intuition, and then the site have a chance of becoming a success, or your intuition sucks and the "soccer and knitting site" isn't a big hit. If it's a hit, write me an email and thank me, if it's not, the site is a great showcase for future employers!

Any steps or thoughts you think I missed? ;-)