MySpace Kind of Money

Are you ready to sell your big idea for “MySpace Money?”

Chances are it’s not the idea or the business you think, that will be the Big Winner.

Lance Hemenway, former Chief Marketing Officer at LaGarde has roots as one of the MySpace 9. “MySpace originally was just somewhere to store information, believe it or not. It wasn’t even ‘client facing.’ It was internal. It was used as an inner-office communications kind of thing.”

It wasn’t even the only project that captured their imagination and effort. “Early on there were a group of sites. We had fifty different websites and we had all this stuff we were working on, trying to do all this stuff. We thought MySpace was about 47th on that list of the ones we thought would make it.”

How does Lance evaluate today’s players in the social networking space? “I think the ones that are being successful right now, and LinkedIn is a good example, they’re the ones that let the audience do what they want to do. The more you try to herd those people, the more you screw it up. And the companies that have gotten it right, are the ones that open it wide up, like the Facebooks, and just say, ‘hey, do what you want to do, we’ll figure it out later.’”

Lance gave me some insight as to how the group thought, often joking about who had the least amount of formal education. But when it came down to problem solving and keeping them from going out of business 17 times or so, there were none better.

“To give you an idea, Brad Greenspan (the original owner of eUniverse, and the actual creator of MySpace) came into the room one time and asked what we were doing. We happened to be watching CNN and told him that the top story was the Anthrax scare. He went back to his computer, found the only guy with a commercialized antidote product, called him on the phone and cut a deal to create an online campaign. We had the ads up on the web later that night and that little idea funded us through the next two quarters of our operation.”

Sometimes the best idea is to give your ideas and business, the dogged determination they deserve and stick with it.

And, it never hurts to grab Rupert Murdoch’s personal attention.

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