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Genuine question about designing a site that could compete with Facebook

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  • 30-04-2014 5:54pm
    #1
    m r c
    Closed Accounts Posts: 802 ✭✭✭


    Honestly people reading this might laugh at my inexperience/naivety but then that doesn't change my question or my point ultimately.

    I have an idea for a site with a very strong funding model that tbh mightn't top the users of Facebook(probably won't) but every user would pay for the service and see value in what they were paying for.

    It would be worth a lot more per user than Facebook.

    Essentially that's it, I understand that the chances of actually "making it" aren't high but if the idea is strong enough I guess you'd have to think about trying.


    What is the first move?

    Do you pitch the idea to the big fish or do you go it alone from the get go and look for funding later on to take it to the next level.

    I have funds of my own to get started and I'm sure it would qualify for some government start up support, I haven't even looked at that yet.

    What would anyone else do in my situation?


Comments

  • Options
    #2
    m r c
    Closed Accounts Posts: 802 ✭✭✭m r c


    The thread title is a little wrong really it wouldn't really be in the same market as fb, more on the same scale as fb.


  • Options
    #3
    Colonel Panic
    Registered Users Posts: 2,015 ✭✭✭Colonel Panic


    Something grows to be the same scale as Facebook from small beginnings.

    If you have funds of your own, you need a business plan, a spec and to pay someone to make a prototype. With that, you could probably seek more funding.

    Ideas alone aren't that valuable, it's all about the execution.

    I can't really help with the business side of things I'm afraid but I will say if you start talking about something "as big as Facebook' early on, you won't be taken seriously.


  • Options
    #4
    m r c
    Closed Accounts Posts: 802 ✭✭✭m r c


    Colonel Panic wrote: »
    Something grows to be the same scale as Facebook from small beginnings.

    If you have funds of your own, you need a business plan, a spec and to pay someone to make a prototype. With that, you could probably seek more funding.

    Ideas alone aren't that valuable, it's all about the execution.

    I can't really help with the business side of things I'm afraid but I will say if you start talking about something "as big as Facebook' early on, you won't be taken seriously.

    Thanks for your input Colonel, I understand what you're saying re comparisons with fb.
    I suppose the truth about what I'm saying us that it has an excellent chance at being very mainstream as it were. While at the same time providing people with a service they dont know they need yet.


  • Options
    #5
    shakedown
    Registered Users Posts: 203 ✭✭shakedown


    Read some of Paul Graham's (Y Combinator founder) essays for startup tips:

    paulgraham.com/start.html

    What's the idea?


  • Options
    #6
    jester77
    Registered Users Posts: 11,262 ✭✭✭✭jester77


    You could start off by looking into diaspora, their original idea was to take on Facebook as an open source platform.


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  • Options
    #7
    everdead.ie
    Registered Users Posts: 9,153 ✭✭✭everdead.ie


    There's a couple of things you would realistically need to have a site that could compete with facebook.

    Firstly you need a hook facebooks original hook was it's exclusivity harvard only email address' were how you registered.

    The second thing is you need mass if you get big enough through your hook then others will join just because everyone else is already on it.

    Once you have these things you could look at charging for a premium service but you would probably need to have it free before this point.


  • Options
    #8
    Colonel Panic
    Registered Users Posts: 2,015 ✭✭✭Colonel Panic


    m r c wrote: »
    Thanks for your input Colonel, I understand what you're saying re comparisons with fb.
    I suppose the truth about what I'm saying us that it has an excellent chance at being very mainstream as it were. While at the same time providing people with a service they dont know they need yet.

    I do understand your intention and don't blame you for thinking "this is a really good idea and could be huge!"

    If you believe that then trying to put together a plan and a spec is definitely worth it.


  • Options
    #9
    Arthur Beesley
    Closed Accounts Posts: 2,537 ✭✭✭Arthur Beesley


    Why are you even talking about the Facebook, OP?


  • Options
    #10
    moycullen14
    Registered Users Posts: 869 ✭✭✭moycullen14


    m r c wrote: »
    Honestly people reading this might laugh at my inexperience/naivety but then that doesn't change my question or my point ultimately.

    I have an idea for a site with a very strong funding model that tbh mightn't top the users of Facebook(probably won't) but every user would pay for the service and see value in what they were paying for.

    It would be worth a lot more per user than Facebook.

    Essentially that's it, I understand that the chances of actually "making it" aren't high but if the idea is strong enough I guess you'd have to think about trying.


    What is the first move?

    Do you pitch the idea to the big fish or do you go it alone from the get go and look for funding later on to take it to the next level.

    I have funds of my own to get started and I'm sure it would qualify for some government start up support, I haven't even looked at that yet.

    What would anyone else do in my situation?

    If you have an idea, go for it.

    Just don't mention Facebook. To get where facebook are you would need such an incredible amount of things to come together that it's just not likely. You will sound (and I'm sure this isn't true) that you don't get what it took for FB to get where they are - this will make you look a bit silly.

    Also, you want it to be about YOUR idea, not FB.


  • Options
    #11
    zig
    Registered Users Posts: 1,206 ✭✭✭zig


    If I was in this situation I would ....

    A: Firstly totally get Facebook out of my head, unless you have funding of literally millions to take it on theres no point in even considering it (not being negative, just right now theres no point as it wont benefit your idea in any way).

    Remember Google failed against Facebook with Google+, Microsoft failed against Google with Bing, Facebook failed against Instagram and Whatsapp, Google Videos failed against Youtube (ignoring the buy outs of course).

    Again, Im not saying its doomed to fail , Im just saying that your utmost priority should be the quality and passion you will put into your own product.

    b: Go it alone and develop the site, if i cant develop, I would find the best developer I can to code it, someone who has been vouched for. If I was serious about this I would find the money to pay them, and get them involved in ownership of the project. I would also do all this formally, e.g. both people signing agreements and agreeing percentages etc.


    THEN, with the fully functional website I would approach investors or even Enterprise Ireland and discuss with them the options available to you. It seems by what you describe that most of the money will have to spent in marketing your site.


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