Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Secrets to Success       in Second LifeA few tips on how to enter the competitive     market of Second Life business      ...
1. Be the first to have a brand new idea.    Don’t copy or reinvent the wheel —    innovate!    Study the market first! Are ...
2. Get lots of spare time.  Nobody cares if you were the “first” with a cool  idea — you need to be the first having develop...
3. Know your market.Theory matters — study before you investAsk the crucial questions first, and answer them onyour own:  H...
4. Build your in-world presence.   Investment starts with your “shop” or   “office”   Don’t rely upon your building skills ...
5. Advertise.Forget about people coming to you“just by luck”. SL is too big for that.“Search > Places” is a good way tosta...
6. Have a business plan     and an exit strategy.If you’re serious about it, treat SL as justanother type of web business:...
There is no such thing as a free lunch —neither in real life, nor in Second Life!
Upcoming SlideShare
Loading in …5
×

Secrets to Success in Second Life®

1,275 views

Published on

More tips and ideas for establishing business opportunities in the Second Life® virtual world.

Published in: Business, Technology
  • Be the first to comment

Secrets to Success in Second Life®

  1. 1. Secrets to Success in Second LifeA few tips on how to enter the competitive market of Second Life business Gwyneth Llewelyn gwyneth.llewelyn@gwynethllewelyn.net
  2. 2. 1. Be the first to have a brand new idea. Don’t copy or reinvent the wheel — innovate! Study the market first! Are you really the first one with that idea? Fill niches — don’t compete with the “big” guys
  3. 3. 2. Get lots of spare time. Nobody cares if you were the “first” with a cool idea — you need to be the first having developed it! Like any other business, this means dedication — hours and hours of work per week, not minutes Remember: there will always be a young college student without nothing to do competing with you
  4. 4. 3. Know your market.Theory matters — study before you investAsk the crucial questions first, and answer them onyour own: How to advertise and where? Where do I get some market statistics? Who is already doing a certain business? What does sell, and what does not?Observe people in-world: where do they hang out,what do they buy, how much are they willing tospend, how are shops laid out?
  5. 5. 4. Build your in-world presence. Investment starts with your “shop” or “office” Don’t rely upon your building skills if you’re not an architect — get experts to do it for you! If you’re serious about your business, you’re also have to show that you’re serious. Don’t overdo your spending, though — there are running costs, and you want ROI
  6. 6. 5. Advertise.Forget about people coming to you“just by luck”. SL is too big for that.“Search > Places” is a good way tostart; and, obviously, do events!There is also advertising on 3rd partysitesGive freebies away, invest in yourviral marketing strategy
  7. 7. 6. Have a business plan and an exit strategy.If you’re serious about it, treat SL as justanother type of web business: it requires abusiness planMake a clear and honest estimate of whatyour goals are. If you don’t reach them,leave the business (you can still enjoy SL!!)Don’t throw money at “good” ideas andexpect them to work. Sustainable ideas areharder to find!
  8. 8. There is no such thing as a free lunch —neither in real life, nor in Second Life!

×