The fundamentals of starting a new business are the same no matter whether you have a ‘brick and mortar’ business or a business that is online. 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.
On the other hand, if you opt for a more formal structure like a corporation, it’s easier to involve multiple owners in the business, and you’re not personally liable for the business—but there’s more paperwork and steps involved in starting and maintaining a corporation.
Whether you want to bring a product into the world to solve a problem you’re having, build a profitable business to be self-employed, create opportunities for the people around you, or bring in some extra money every month, these steps can help you make your dreams a reality.
Lay out clearly what services or products you’ll provide to the customer to avoid scope creep (them continually asking for more free work.) And, tell them explicitly what you hope to get out of the transaction – referrals or a testimonial if you do a good job.
It may be more challenging to start a business in times like we’re in. However, with persistence and patience, you can see it through, and then, you will be ready when the economy picks up. If you experience some slow times, use that time to educate yourself on your market and sharpen your entrepreneurial skills.