Starting an Online Business All-in-One For Dummies®, 3rd Edition

Chapter 4: Learning to Spot and Capitalize on E-Commerce Trends

In This Chapter

• Connecting: the (virtual) reality of social commerce
• Getting ready for your close-up with video
• Gathering, sharing, and making a profit in communities

Social networking and online communities are among the fastest-growing trends among online niche markets. You may have heard of Facebook, which some experts say is worth $100 billion! You may also be familiar with LinkedIn, which is the first social media site to go public, trading at nearly $100 a share on its opening day on the stock market. By the way, Facebook was founded by college kids living on campus, and LinkedIn was started in someone's living room. Like other (now) giant technology companies with humble beginnings born out of garages, spare bedrooms, and college dorms, social networking sites and online communities are experiencing the same opportunities for growth. And this is where you can find another option for pursuing your own success.

If you aren't familiar with the concept of online socializing, think of it in terms of attending a big networking event where hundreds or thousands of professionals might go to meet, mingle, build relationships, and drum up business. Lots of different types of online social networks exist, and they aren't always focused on business activities. Some communities are created solely for socializing, others are created for a specific group (such as business executives or hobbyists), and still others are developed ...