If you’re an Internet business owner, but haven’t yet started using social networking to promote your business, you are giving your competition a leg up – and for no particularly good reason. You might say “I’m a 50-something business owner. What am I going to do with a profile on Myspace?” But you’re only deluding yourself. The point here isn’t to make friends with teenagers. Rather, the point is to use these massive networks to market your products and services for cheap; so don’t ignore them. Your competition certainly wont.

So how can you use these networks to your advantage? You can start by selecting the networks you will actually use. Now, when most people think of social networks, Myspace immediately comes to mind. That is because Myspace is the largest social network; however, you may not want to start with Myspace. Rather, you will want to start by determining whether or not there is a social network for your particular niche. Believe it or not, there are networks for many niches – from golf to aviation. Chances are, if there’s a network for your niche, you’ll do far better marketing there than to the undifferentiated masses on Myspace. Additionally, Facebook is becoming more popular as it has a higher level of interactivity for its members and also  dedicated advertising areas. As its popularity grows, so does its member base. It’s well worth taking a look.

So start looking for your starting point – be it a specific network, Myspace, or one of the other social networking giants. Next, once you have selected your network of choice, go through the formalities of creating an account. For the most part, this process will involve some basic form filling. Once you’re done with that, you’ll have to tango with the tricky part: creating a high-quality, appropriate, original profile that you can use for your business.

Before you do anything else, you’ll have to make one important decision: should your profile be for you or your business? Depending upon which option you select, you will have to radically alter your approach. If you create a business profile, you may have a harder time finding “friends,” since your profile will overtly be related to your business. In contrast, if you create a personal profile, you will have to figure out how to convince your friends to check out your site without making it appear to be overt selling.

I personally suggest that you use a business profile. Additionally, incorporate some of the principles of selling you’d normally apply to your regular sites. Rather than creating a profile that screams “give me your money,” create one that is related to your niche and freely gives interesting information. Include relevant videos, music, photos, and articles on your profile. Regularly update your blog to incorporate new information about your particular niche. All of these actions will work to ensure that you get a regular reader base who might also be interested in purchasing some of your products and services.

How you design your profile is ultimately up to you. And, in fact, you wont want to follow any particular prescription or formula. Rather, create something that reflects you and your business; and you are likely to be rewarded by your customers.