After having a business here on Second Life for the past 3 years I wanted to share my thoughts and experiences with you.
You may have noticed we have seen a lot of SL entrepreneurs come and go and they all have seemed to say similar things as to why they failed:
The RL economic crisis has also hit the SL market, too many competitors, too many malls, affiliate and designers creating the same things and a lack of RL time. .
What surprised me was that out all of the conversations I had with them, no one was saying my business went bust because I didn’t calculate the risk in my business plan or I didn’t continue the business because I didn't have a clear vision. Neither did they say I just lost my passion.
The key ingredients of having your business succeed are in my opinion; passion, vision and a business plan, this is the key to getting motivation, insight and other business skills.
It's not easy to run a virtual business without a plan, vision statement and then to guarantee your business won't fail or even worse, continue doing business and make loss every week.
So to all the business owners on Second Life and to the people those are interested in starting a business: passion, vision and having a business plan are the important subject/things to think about and to work with before you start spending time and money in this virtual world.
As Benjamin Franklin said "if you fail to plan, you are planning to fail" have a wonderful Second Life and see you In World!