You probably know that social networking sites have been huge money makers over the
past few years. In fact, Google reportedly paid the creators of Myspace $900 million to
take over the ownership of the sixth most popular website in the world that currently
delivers more than 3 million page views per day.
With that much traffic coming to their site every day you can bet that Myspace is making
a ton of money in advertising revenue and the owners are not losing a wink of sleep at
night worrying about how they’re going to recoup their investment.
In exchange for your free profile on their website Myspace plasters almost every
available inch your page with advertising. Then just to make sure that you don’t cut into
their advertising action, Myspace strictly forbids you to advertise on your page. If you
dare to ignore their rules blatantly advertising anyway then you already know that it
doesn’t take long for Myspace to shut your profile down without notice. When you go
back to look at your profile it will simply be gone...ask me how I know!
There are many ways to make money on Myspace without breaking any of their rules or
risking having your page banned. Here’s one idea that I currently have in development
on a new site that will allow me to use Myspace’s hard work to my own advantage. If
you like the idea then you can use it too. (Send me a link to your site if you like.)



As you can see in this picture a large portion of Myspace is categorized into groups.
You can also see that some of the groups have tens of thousands of members. As
someone who is looking for ways to make money online anytime that you see large
niche groups already assembled for you there certainly must be a “cha-ching” sound
going off in your head.

You can also see in the picture that a large number of the groups are business or
commercial related niches that are probably already spending money advertising
elsewhere since they can’t do it directly on Myspace.
This problem for them creates a huge opportunity for you. Why not create a site similar
to Myspace that would allow business owners to advertise for a nominal monthly fee?
Here’s how to get lots of Myspace members to sign up for your own paid membership
site. Create a profile just as you normally would. You’ll have to wait for 7 days before
you can start a group. In the meantime, go ahead and add friends, “pimp your profile”
and make useful posts to the blog and comment sections. In other words, create a
useful profile that people will actually be attracted to.
After your first week, go ahead and start a group that caters to your niche. Tell the
group that among other accomplishments, hobbies, goals, interests etc. that you are the
creator of abcxyz.com -a site that helps people in your niche to accomplish whatever
goal.
As you continue to subtly mention your other site in future posts lots of people will check
out the site just out of curiosity. Some will even join when they see a site similar to
Myspace that also allows them to advertise.
I recently found a very good script that allows you to set up your own Myspace clone
and offer monthly advertising as a feature. The script is called phpFox. Here are some
more features that you get with this software:

· Easy To Use Advanced Admin Panel
· Template Manager
· Instant Messenger
· Live Chat
· WYSIWYG Editor
· SEO Urls and Title tags
· Advanced Profile Editor
· Advanced Search
· PayPal IPN Membership System
· Archive System for search bots
· Members Shoutbox
· Easy Plugin System


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