Build an industry-focused social website for a large but niche-y global industry. Let’s take non-ferrous metals as an example, or even better, just the aluminium industry. Objective of the site is to become the social framework and user-contributed data platform for the entire industry. There are probably 50K executives working on aluminium. Nice captive audience.
Features should include messaging (become the standard chatty platform, like Bloomberg for financial markets), user-posted news/rumours/facts, a job board and highly-targeted relevant advertising. Launch should be through relevant industry organizations (e.g. European Aluminium Association), publications (e.g Metal Bulletin), events (e.g. International Aluminium Conference) and the financial industry that ties them all together (e.g. London Metal Exchange). And then charge a hefty price that is just within reach of individual corporate credit card users, e.g. ~$1000/per annum. Same model as XING in terms of free launch, then slowly start boxing people in to promote conversion.
Rinse, repeat as necessary per industry vertical. Then, profit.
