Over half of all Americans between the ages of 15-34 consider themselves active social network users. They regularly visit well-known social networking sites, such as MySpace or Facebook, or log onto specialty social networks, like Ravelry (devoted to the fiber arts) or GroupRecipes (for the foodie set). While industry research tells us that television watching is declining, especially among this age group, social network use is on the rise: average users spend seven to eight hours a week online.

This time spent on social networks clearly affects buying decisions. An estimated forty percent of all social networkers say they use social networking sites to learn more about brands or products they like, according to GreenBiz.com, with twenty-eight percent saying they've had a brand or product recommended to them by a friend.

The message is clear. Strategic use of social networking can help a company grow. It's an effective use of target marketing, reaching out to one's customers where they are.

However, in order to capitalize on social networking's power, you have to do it right. Execution is everything. Make no mistake. Every time you log onto Facebook, MySpace, or other social networking platform, you're representing your company in a very visible arena. The world is, quite literally, watching.

There are five common mistakes Nichepreneurs™ make when it comes to social networking. Here's what they are -- and more importantly, how to avoid them!

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