Joel, I am answering this question but to be honest this is a BIG question (I mean it) and I might miss so many points because starting a social media site is not as simple as any other business site (off-course if you need this to be successful.)
I think the question you put on the board are the secondary questions, I think the following should be your primary questions:
- What you social media website is going to do that anyone else is not doing at the moment? In short USPs?
- What niche/audience are you going to target?
- How you are planning your Return on Investment?
- What would be your promotional plan?
- How much are you ready to invest on your marketing and what kind of ROI are you going to expect from that?
- Who are your competitors?
- What you competitors are doing in the market? How successful they are?
I am missing question I know but these questions should come before you should ask for how many staff member you should have what code languages they should know and others…
Above mentioned questions are important because I have seen many social networking websites that go fail because they didn’t plan effectively. I would prefer to solid plan the stuff and then move on the implementation part accordingly.
Best of luck!
