I was talking (chatting rather) with one of my school friends, Nishant (name changed) on facebook. He is going to start an online venture with some partners about a one-stop entertainment website. To brief about it, it will help people catch up with everything in the world of music, movies, comics (some people want me to call them graphic novels) etc.

Nishant, is one of the new breed of entrepreneurship who realize the potential of internet to be exploited monetarily (of course they have passion for the cause in the first place) even after the dotcom bubble burst of 2000's.

So how has the scenario changed over the years from being cautious to experimentations and practical execution?

It's been possible through a revolution called "Social Media"

For records Facebook claim to have more than 400 million active users, a chunk belonging to the youth and earning people. Having just pipped orkut in the numbers, latter also has a huge reach, especially in Latin american countries.

Social media has thus come up as an attractive destination to start and grow your customer network.

Another of my friends has started with online venture called FlowerAura, a website for flower, gifts and cake delivery. He too is working out possibilities of social media like Facebook to obtain leverage for his business. To start with he has got FlowerAura fan page. Next he is looking to create an FB application to interact on a more regular basis with the possible customers, the users of FB.

Yet another friend of mine is a social media expert and consultant. He plans the social media exposure during product launches and brand creation.

Power and reach of social media is breaking self-created records everyday. We just have to watch out for the sustainability factor