Well I think it depends, if you have some gimmicky idea that no other competitors thought of yet, then yea go ahead and do it. But if you don't have any new ideas and basically going to do something similar to what Facebook or twitter does, then don't brother. Personally I think you can never win by doing what another person does, you can only win when you do more than what others does.
It depends. It's probably not a good idea to make a "general" socializing type of network cause you'd be competing with facebook, twitter, myspace, etc. but it might work out if you made one for a specific group or something. Like one that is for a specific type of hobby, interest, profession, etc.
I would say no by default but you just never know... All social sites started from zero and who knows, maybe your idea will be the next big hit. Just keep in mind that you will be competing with FB, twitter, Google+, etc. You have to be innovative. You need features that none of your competitors offer, or at least you have to do them better. And of course you need to get some members somehow. Just look at G+, it has many good features but it isn't nearly as popular as facebook or twitter.
If you are prepared for all of this, go ahead. If not, you'd better stay out of the social networking business
Well. Yes. It is still a great idea to create your social networking site but it should have something not in common with other existing social networking sites like Facebook and Twitter. You must come up with something new so you can attract members to join your site. There's nothing wrong with building your own social networking sites. Everyone has the freedom to do that. The only problem that you need to think of is to create a social networking that will surpass those big ones on this field. If you have the idea, the money and the determination to build one, then go with it. Your site might be the next big hit on social media.
If you're very optimistic, then yes, it's a good idea for you.
Sadly, I'm not very optimistic, I would actually say I'm pessimistic, and I think there's no chance for someone entering the game right now is going to have any luck with their social media website. Unless it's something unique like hash tags that you think can get popular, and never though of before, good luck driving traffic to your social media website.
I wouldn't do it. That would be like David going up against Goliath. LOL. Then again, David DID defeat Goliath. Unless it is a very targeted niche or group that you're going after, I wouldn't do it. Facebook already has social networking sewn up. Even the mighty Google hasn't been able to touch them with Google plus.
If you plan on doing it for a local community, aiming for a more niche audience, then it would be possible. Having to compete with big companies for a broad audience is an entirely different story though, as those have millions of dollars to back them up with advertising and other means of gaining popularity.
Its very risky and yes its hard to get members but if you have a really brilliant idea you will get somewhere so don't stop on believing. Look at Instagram, people were able to share photos everywhere else but they love Instagram more cause it's easier and more convenient and you get to see the world all in once so the organization of it really makes people want to use it. I like Twitter a lot and I like it more than FB or Myspace or foursquare so there are superior social network against other. What is your idea and will it beat out the competitors?
It is too late to start another social network site without some huge popular stars to back you up with publicity. Most people already belong to some popular social networking sites such as Facebook, Twitter, etc. Even once big sites like MySpace has died off, what makes you think people will join yours while there are big and successful ones like FB and Twitter out there?
The idea of social network is no longer new. You'll just start a copycat which will never get big... unless you are a famous person. Most people won't even know your site or give it a try.
In my opinion Facebook and Twitter are far too big therefore they would crush you if you started getting any visitors! Furthermore, the only real way to make a successful social network these days is to try and incorporate the social network in as many apps as possible!
For those of you saying that someone will need "millions" to adequately start up a social networking site, that is definitely not true. There existed very popular social networks before the idea of Facebook and Twitter were even conceived, it is just what is currently dominant in the popularity category the same way MySpace was back in 2005 and prior to that.
If you are serious about making a venture out of this, I would encourage you to have a good idea and multiple ways to addict your users. Facebook did this well with having everything in one page at a time. You could be playing a game while chatting with three different friends and all the while check messages that were sent to your inbox.
With Twitter, they figured out that short sentence-long messages that can be repeated to other people to prove a point, emphasize something, popularize something, etc. can be very addicting.
The point is, having something original and, above all, addicting, is key to a social network's success. If it doesn't have these two qualities, it is doomed to fail, so don't waste your time if you want to try and copy Facebook and Twitter.
People really ought to do their research before commenting on something like this! Still, you can easily be the next Facebook or Twitter if you put in the right amount of time, effort, planning, incorporating ingenious, addictive elements, and a little bit of luck. Good luck!
I say go for it. There's risks in any venture, but if you have something no one ever utilized before, then all the better. Facebook didn't stop the advent of Twitter and Pininterest. You just gotta be smart and aggressive.
Facebook is on its way out anyway, I'm convinced. It's only the natural progression of things. As before Facebook ,we mainly used MySpace, and before that, Geocities, and before that hotmail, and before that usenet. Social media will continue to evolve and Facebook is already feeling its age.
If someone has the time and patience to put into developing a successful and promising social network, then I say more power to them. However, I don't think that I would even invest in it. It would just take so much time and effort, that even to begin you would have to hire other people to keep track of certain things. Unless you wanted to find a smaller social network...In that case, it probably would become successful!
There are way too many social networks out there. A few people will join all of them, but the vast majority of people will stick to the few they know. The problem is that it's all the same people on all the sites and there is nothing much to differentiate them. If you intend to develop a new one, please make sure that it offers something which no other social media site offers.
Unless you have a very specialized niche or a truly new feature/function that you think would stand out from the more general sites, I can't see it being a good idea. Copycats are seldom as successful as the originals and at this point the major networks have the basics of online communication pretty well covered. However, the Internet is a rapidly changing market so there is always room for something that is a genuine improvement.