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Starting a Business in Second Life The virtual world of Second Life is a friendly place for businesses, as it offers most of the advantages of our real lives when you're about to start one. But, just as in real life, the competition is stiff and only the strong survive. Usually, people start out a business in Second Life with one of the following three purposes, that we'll discuss over the course of this article: for profit, for advertising or for creating a real life business. Let's talk a bit about each of these options. Starting a Profit Business in Second Life As you probably already know, Second Life uses a currency called the Linden Dollar, with 270 such Linden Dollars being equivalent to a US Dollar. Linden Dollars can be freely exchanged using the in-world currency exchange programs, or using a third party one. The point is, you can actually make money in Second Life, then translate that money into real life cash. If you aim on starting a business for profit in Second Life, you will want to find a niche market that people need in-world. It doesn't really matter if "car parts" is a good niche in real life, in Second Life it will be useless. If "cotton candy" is what everyone in the virtual world needs, then that's your niche. The point is that you shouldn't base your profit-generating business on what could work in the physical world. If you manage to make a name for yourself and sell your stuff, you're bound to make a profit you can cash in on. Starting a Business in Second Life for Advertising Purposes Don't worry, this is not something new, it's not something I just came up with. Advertising through a virtual Second Life company is what many of the real companies do. Basically, if you already have a business in real life, you can create a dummy of it in Second Life and promote it to the people in the game, which could be tomorrow's real customers. And of course, there's a big psychological advantage when someone that has seen your business' name in-game will see it in real life: "Oh look, I know that store from Second Life, let's go buy from them". Starting a Real Business through a Virtual Second Life One Last but not least, some businesses in Second Life will have an inverse development as the above advertising ones. In this case, we assume you don't have any real company or business, but you want to create one in the future. Second Life is a good way to create a basis for it to land on when you'll have the money or room to make it happen. Some pre-advertising will help a lot, but make sure you're consistent in following your business' traits in game, to the real life one. In conclusion, I must state that you won't need a lot of technical or law-related knowledge to start a
business in Second Life, which will most likely differ if you want to start one for real. So although Second Life businesses are a good way to practice or advertise, they don't resemble real businesses in all aspects, especially the uncomfortable ones. Think about it, your Second Life business goes bankrupt, so what? But what if your real business goes bankrupt? You can't simply get a new avatar and start over.
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