Like I mentioned earlier, I have so many friends who set up a forum thinking they can be the next LowYat, thinking that they could optimize monetize it with Google Adsense and other forms of advertisements.
So there was this young friend of mine who is very talented and he was my first friend to have his very own forum. He Googlized it even before most of us here ever heard of Adsense.
What he did to keep our interest in being active in his forum was to offer incentives to us like accumulate points for each post that we made with more points for the thread or poll starter, points for each person that we referred, sweepstakes where we get to win points but not cash. You could say that these points are like legal tender in the forum.
We were all very excited of course, well, at least I was, and there was healthy competition because the top prize that is on offer where you can use your points accumulated from all the action was a mobile phone worth almost MYR2000 during that time.
By the time the first person had enough points to redeem the top prize for months later, the value of the mobile phone dropped but it still worth more than MYR1500.
Having this experience, I still think that it is of utmost importance that before setting up a forum, you need to identify first your core group of supporters, those who will post in your forum even without getting anything back in return.