Social Network Business – 5 Things To Know

What is a social network business?

With a social network business you’d provide an online platform that people would use to build social connections with others who share similar interests, goals, backgrounds, whatever. 

You’d have several monetization options with this kind of business.

Social Network is one of 19 types of online business and considered a Level 5 online business, according to our framework.

6 Levels and 19 Types of Online Business
Level 1 = Novice

Okay for side income or beer money, but hard to earn a living.

GetPaidTo
Contests

Level 2 = Intermediate

Best for earning a living online when you’re starting out, but hard to scale.

Remote Job
Freelance

Level 3 = Advanced

Easier to scale and higher income potential, but you usually need significant investment of time and/or money upfront.

Agency
Referral
Resale

Level 4 = Superior

Even more scalable and even higher income potential, but also more complex / difficult / expensive.

Authority
Digital Product

Level 5 = Distinguished

Most complex / difficult / expensive, but the rewards here can be massive.

Physical Product
Cloud Service
Marketplace
Social Network

Level X = Wildcard

These are the misfits. Many aren’t even considered businesses in the traditional sense, but they are all ways to make money online. You typically need a lot of time, money, or luck to succeed with anything here.

Trading
Investing
Esports
Betting
Gambling
Multi-Level Marketing









How can you make money online with a social network business?

Here are the legit ways I’ve found to make money online with a social network business…

Create a Free Online Forum

Most of the well-known social networks are essentially big message boards monetized with ads.

Reddit is a prime example, co-founded by Alexis Ohanian in 2005…

Alexis OhanianCo-founder of Reddit $8.3+ million Reddit monthly revenue



Start a Paid Community

Dan Andrews co-founded the Dynamite Circle, a private community for established entrepreneurs…

Dan AndrewsSerial Entrepreneur $50,000 Dynamite Circle estimated monthly revenue

Members of the DC pay a quarterly or yearly fee.

Start a Facebook Group

Colin Theriot grew his own social networks (Facebook Groups) within an existing social network (Facebook) and has monetized them in various ways…

Colin TheriotFounder, Cult of Copy Facebook Groups $20,000+ monthly revenue