I recently bought the domain from a member on SP because I think the name has some potential. I was thinking of starting out with a forum for college kids, to discuss their experiences at school, living arrangements, stuff like that. Of course the forum would also have general chat and current news, such found on any forum.
Somebody also mentioned I could turn this site into a full fledge college community site, where it offered kids advice on living in college, moving away from home, what things to bring/purchase, and perhaps even sell some popular accessories found in dorm rooms. I was just wondering what people thought of this idea before moving forward. Making money isn't my first priority here, although I think with a large community advertisements would be alright.
build a successful community. Listen to your community as it grows to guage how you should proceed. Let the success of the community drive the content of the site. It could be awhile. Successful communities don't happen overnight.
Start with the forum, and build on it. Start small. I've also got a way to make money out of it, actually. Here in Sweden, we have a national site where students can look for places to live (http://www.studentlya.se/). Anyway, it's VERY popular, as finding an apartment is a frickin' pain. Now, they have just recently started a service where you can be sent an SMS the second a place to live is added to their database. For this, they charge about $5 for 5 messages. You pay by calling a for-pay-line. The service is absolutely awesome - got me an apartment on the second try!
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Let me just say that when you get into this market you will realize that the conversations that the students have stray far, far away from the topics you want it to cover. I know this for a fact because it happens everyday at the forums I started for my school. Lay down some ground rules from the get go, set up the groundwork so you don't run into trouble later on...
As far as what to start first... It will be easier if you start everything at the same time and improve on it as you learn. I didn't do that and I wish I had.