You may or may not have heard the news out of Mark Zuckerberg world today. Facebook will officially welcome its 200 Millionth user to the most popular social networking site in the world today. To most of us, that number is unfathomable. To Facebook, that is just another milestone to add to the list.
For people like me, who are in the business of making money online, you just have to sit back and admire an accomplishment like that. True, Facebook has the advantage of being free. And true, they still have yet to turn a profit even with that extraordinary exposure. But 200,000,000 people using your service, wow.
For entrepreneurs in the technology field, it takes a lot to be optimistic. I have heard countless people say they will be the next Facebook. “If we could only get a few million users, we’ll be set for life.”
It’s true that most of us could do a lot if we had 200 Million users, but you have to be realistic here. If you are just starting out, tell yourself that you can make money without an accomplishment like that. If it’s going to take a million or so users for your service to make money, you had better know exactly where those users are coming from.
Think long and hard about who you are trying to serve. Is your market as big as Facebook? Is your service the first, or the best, of its kind? Why will people care?
Starting a free service and trying to get the masses to sign up is much harder than starting a real business that makes money up front and spreading the word through marketing. The internet has opened the doors for a whole new breed of company, but that does not mean that everyone who tries their luck will win at it.
It’s okay to admire Facebook, but don’t try to emulate them.