There are the big social networking sites like Facebook, Twitter, LinkedIn and Google+ now too.  But have you heard of Pinterest? Neither had I until a few days ago!

As soon as I signed up (via my Twitter Site), I realized that 149 of my followers were already on here. How did I miss this?

Seriously, check out my profile (click here) if you want to get a taste of what it is. Short version: you essentially can collect and ‘pin’ pictures from anywhere on the web onto boards. It is similar to vision boards, but without trying to find your scissors or get glue all over your hands.

It has only been 5 days, but now I even have my husband addicted.

Through my Consciously Creative site, I talk more about the creative side of this amazing site. And through my LiveWorkPG site, I go into more detail about the social media high points of this site. But here, I want to touch upon the business side.

As a hobby some like to collect DVDs, others old cars… for me, it is watching how creative people start and grow a business.

Pinterest is just one of those companies that has caught my eye. I love to watch start up creative businesses to see how they unfold their marketing, how they engage and keep their customers.

This site is free to the user. So how do they make money? I have no concrete proof, but what I do know is that probably like most social networking sites, it is all about getting people to the site.

What they have done so beautifully is NOT to monetize it… just yet.

Now if you are a client of mine, I am sure I have you falling out of your seat in shock!  Usually the first question out of my mouth is “How are you going to monetize it?”

The planning and having streams of income in your business is OF COURSE important. However, as a new start up, it is key to make sure you also have your list.

You have probably heard the phrase “The Money is in the List”. Whether you are offline or online, without a group of people to market to, it doesn’t matter how incredible what you have to offer is… you can’t leverage a list you don’t have.

You need a group of people that want to hang out on your site. In this case, so that you can monetize it down the road. I am not sure how they will be doing it, but what I love is that they are just trying to grow their following and list first.

If you are an entrepreneur starting out, this is similar to you not quitting your day job as you are growing your company. It is about strategically planning ahead of time and growing your list of followers that like what you have to offer (be it through writing, offering your services for free or at a discount to get experience and testimonials, or test marketing your product to make sure you have something sellable).

Pinterest is supported through investors. They have investors that believe that what they have to offer is going to get a mass bulk of people onto their site. When they are on their site, their “customers” are sharing what they love, dream and hope to one day have. Um, pretty good way to eventually monetize when you know your customers well.

This is all speculation, but perhaps they will sell advertising or link with site like “etsy” and ask for an affiliate/commission for orders purchased from their site. Or perhaps they will give priority display to certain links. Either way, only time will tell.

Another AHA I noticed when I looked at their company was how they rolled out their membership. Google+ did this too… limiting membership creates demand. By creating a “waitlist”, they are able to create a demand.

The other option to join is through an invitation from another member. This means when a friend says, “This is the coolest thing ever… because I have tried it” it gives both social proofing and provides a bit of the trust factor in the virtual world. They essentially are leveraging the networks of their current membership.

Personal invitations are similar to the “old boys club” way of creating an elite group. The “Yes, you can join us right away if you know someone” group.

Creating a demand for what you offer (illusion or not) creates a premium. You have to know someone, who knows someone, to be let into “the club”.

Worry not. If you want access, just email me at support [at] shaunaharper.com with the Subject: Pinterest Invite and I’ll set you up. It helps to know people in high places

As I step down from my virtual high horse, the last thing I noticed about Pinterest is how easy they made it to use or join. You are able to download the “Pin it” tool onto your browser OR surf them via your smartphone.

On top of that, when I signed up, I was able to sign up via my Twitter account (option can be Facebook as well).  This meant I didn’t have to go through the pain of having to write my bio, upload my photo and do all the painful things it takes these days to join another social network

It also meant that they had me automatically follow 149 friends that I was already following on Twitter.

In this day and age, leveraging the databases and systems that are already out there in social networking is key. Also making it easy for people to do so from their handheld devices means that they will “hangout” there more.

Whatever you are creating, be it a product or providing a service, making it EASY for your customers to use what you have to offer is important.

Even if the only thing you currently have to offer is your website, you can make it easy for your customers by making it “mobile” ready. (Meaning they can access a quick version of it on their smartphones)

I love Pinterest… if you want to find out more about the social networking perks of this site or how it gets your creativity flowing , check out my other articles.

In the meantime, I would LOVE to know your thoughts if you have already joined and of course, see your boards.

Happy Pinning.