Step 3: Test your assumptions and Step 6: Do your research Probably the most important steps in the process, and I'm glad they were addressed here...identifyin

Step 3: Test your assumptions and Step 6: Do your research Probably the most important steps in the process, and I'm glad they were addressed here...identifying a potential market, testing the viability of the potential market and coming up with a plan... a plan that doesn't involve set up social network involving "X", tell people about it/advertise, ?? , profit! I'll admit when I read the title I though it was going to be an article discussing why not to drop out of college and start a venture-backed Social Network, but I'm glad that it was much more realistic and insightful than that.