Setting Up a New Social Networking Site - Assignment Example

?Business Option You have been hired by a group of first-time entrepreneurs who intend to set up a new social networking site. They have asked you to answer three key questions, and they plan to use the answers to these questions to help them begin serious planning of their social networking site. The key questions are: 1) Who should we be targeting as potential users of our new social networking site? 2) What do these people want from a social networking site, and what worries do they have that we will need to address? 3) What are the most important challenges that we, as first-time entrepreneurs, will have to overcome in order to set up a successful new business? Answers 1) The target of our social networking site should be the teenagers and early adults who have a severe interest within these community websites and programs. What this suggests is the way forward for the selected target audience because they exactly know how to make the social networking site a bigger one as their role is magnified nonetheless. The target of this social networking site must be based on the potential use of the teenagers and the young generation because they know how to have the best usage of the same. What is important to see is how these potential users come within the social networking site and display their enthusiasm and zeal by suggesting to their immediate family members and friends who are of their own age brackets (Daugherty, 2009). This will allow them to connect with one another as well as find new friends as and when they wish so. The target audience of the social networking site would comprise of the people who want to make it big within the social networking premise and for that they are ready to go out of their way even. This is because they believe that it is their natural obligation towards their own self if they become a part of the social networking sites which are on offer in this day and age. However, for the sake of the social networking site that is talked about here, the focus must be set on how these young ones would be given the incentives that they so richly require within their folds (Topper, 2007). When they are given an incentive, then is the time that the young ones believe that it is for their own good and that they should believe in the dictum of the social networking sites bringing them close to their loved ones while making sure that they remain cool, hip and trendy all this while with their usage patterns of the social networking sites. These are our primary target users while the secondary ones might include the elders who would like to know what their younger generation is indulging into or how they are getting along with the people of their own age (Wennburg, 2006). This is in accordance with the parents and guardians being on the watch guard on a proactive basis. It allows them to grow exponentially and find out where their children are going wrong and what needs to be done to correct them all this while. However, the target group for this new and developing social networking site would be the teenagers and young generation alone because they are the best possible users of such social networking sites that have come about of age in the recent times. It is important that the focus should be tightened as much as possible on this age segment because this will make sure that there are no predicaments that might arise in the future as far as the social networking sites are concerned. The selection measures of these social networking sites must be pinpointed and on the dot. 2) As far as the requirements of the young ones and teenagers have from these social networking sites is concerned, these must offer them a user-friendly platform from where they can grow and develop their social networking measures, and thus ask of the people around them to interact with them all this while (Berge, 2010). It gives them the incentive to go out there and make the vital difference within their lives because they require the same. They look forward to receiving the benefits of interaction, communication and essentially linkage of all kinds, be it in the form of posting of pictures, chatting feature, the status updates, the e-mail facility, the picture tagging, updates on others’ profiles, and so on and so forth. The uniqueness of each social networking site makes it a must-have within one’s social camaraderie (Solomou, 2011). It allows the teenagers to derive the best value out of the related equations whilst giving them the room to maneuver their troops all this while. The social networking sites are the voice of these people because they believe that just by logging on such websites would give them the essential mileage that is required within their social circles, as well as give them the internal pleasure that they are being a vital part of the social networking philosophy that has come of age in the recent times only. Such measures would ensure that the young ones are aptly driven at all times, and that there would not be any hiccups in the wake of achieving success as they believe it to be. The worries that they have and which need to be properly understood here comprise of an understanding that the user-friendliness aspect and the designing layout of the social networking site must be such that it involves the users to easily connect with one another as well as remain glued on to the page without any hindrances whatsoever (Zyl, 2009). If this does not happen, the users might just switch over to another social networking site which would be a complete loss on the part of this social networking site under question. Thus what is required here is a vision to set things right within the related equations of usability, design and dependence which grows after the first two tenets are met adequately. If such worries do not come to the fore, the social networking site can believe that it is doing something worthwhile for the sake of the users, and thus give them the mileage that they eventually require within the relevant scheme of things (Corbeil, 2011). One of the most significant worries about the social networking site that this target audience might have comprises of the aspect that is related with data security and the page being on the up all the time. This suggests that the social networking site must be uptime on a consistent basis and there should never be any down peaks so that they can connect with it as and when they wish to (Pitta, 2011). Also they must believe that whatever data or information they are sending the way of this social networking site, it is safe and secure, and it will not be transgressed or violated. 3) As first time entrepreneurs who are entering into the realms of the social networking site, we have to believe that we can coin a new social networking site which will cater to people from the already decided and agreed upon target audience. It will enable us to have a better idea as to how he will serve them in entirety. The challenges that we face in the wake of forming up this social networking site are many, and we need to tackle them one by one (Butler, 2011). The first and foremost challenge is to devise the most perfect social networking site that will ask of the target audience to come to it and make it their most preferred choice when it comes to the social networking realms. It will mean that the invitation element is significant here as it will instill a sense of belief that this social networking site exists for real, and satisfies them endlessly (Shepherd, 2011). There would not be any apprehensions within the target audience that has been selected, and which essentially looks forward to being a part of this social networking site. The challenges are also within the realms of designing the most user-friendly website that becomes an instant hit amongst the relevant target audiences. It shall pave the way for their respective understandings that are achieved over a period of time, and which shall mean a great deal more than just visiting a social networking site. It is a complete lifestyle that they are getting hooked on to. And we need to cash in on this aspect more than anything else (Holley, 2010). In essence, the success of this new business will only be ensured when all the grey areas within its launching phase are covered up well, and that there are no shortcomings within the completion of the social networking site that is under consideration here. For any new business to succeed, it is imperative that the stakeholders or customers are given the ‘value’ that they are most certainly looking forward to having within their ranks (Author Unknown, 2010). This means that the lifestyle angle which was talked about earlier, has to be given the significance because it will mean long term success for the social networking site, and the adoption of this social networking site as their priority website when it comes to the social networking domains. Being able to interact with the ones they like is indeed one success pointer for this business, because this will bring in more and more sessions with the social networking site, and new users as well, which are essentially the customers themselves (Kosta, 2010). If these challenges are met in a proper way and that too in a quick-fix solution, then this social networking site can believe that it has turned into a successful business in the coming times. Bibliography Author Unknown, 2010. Coming to terms with a social revolution: New networking – for better or worse – is here to stay. Strategic Direction, 26(7) Berge, Z., 2010. 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