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Doug, this is a great post.

To complement it and provide the full picture, worth also writing something about the customers/prospects/members side, and what separates the good, successful communities from the bad ones.

I've seen and have been involved in numerous communities. Very few were successful, and members wanted to stay in them. Many others have failed (or are failing) -- and the reason for failure is almost always because the startup/vendor is mostly (or only) focused on what's good for them, and not for the customers.

The worst approach, and the fastest way to kill a community, is when the company sees the community as a mere pipeline for Sales/leads, and hits community members with various offerings. That's NOT what a community should be, and these fail.

A true community is one which puts its customers/members first and aims to provide true value for community members -- without thinking about sales. It is a long play of building relationships and trust, and not a short one of getting more 'leads' for Sales. Moreover, it requires upfront and ongoing investment (technology, dedicated personnel, etc.) that will only show ROI in the long term, not in the short run.

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