How do I start a business using social networks and actually make a profit?

[TK]

It depends on a lot! Most success stories found in sponsored links is not real, but yes you can make money.

1. Know you product and figure out what is the best way to brand/market/sell....if a social network seems like a good answer, then go for it.

2. Know your audience, each social network has different demographics, different ways to advertise, different ways for people to accept or reject you, and different costs.

3. If you are going to buy ad space know that selling mortgages will costs more per click than a book club in a small town in the middle of know where.

So answer step 1...what is your product, then everyone can answer you better.

If you are interested in twitter (which is free, no ad space to buy) you can see how to do it for free at http://www.twittersalesdriver.com

Good luck.