A virtual business plan?

I am soliciting a bit of advice from those entrepreneurs out there who have become quite successful in this virtual world of SL, actually turning something fun into something profitable.

I am a craftsman of fun, deviant, and “over the edge” BDSM furniture in the beginning stages of trying to set up shop. I presently have a modest inventory of wares to offer up for sale but find myself floundering a bit with regard to navigating the most efficient, cost-effective and productive road that would put me on track to hopefully one day join the ranks of some of SL’s premier builders, craftsmen, and virtual entrepreneurs. It is toward this end that I am submitting this post.

I was wondering if those of you who have trod such a path might have any “helpful hints” with regard to advertising, buying and/or renting land for a flagship store, actually building a store, renting mall vendor space with limited prim usage, product marketing, location selection and a host of other topics too numerous to mention. With the vast real estate presently on the market, just narrowing down the ideal spot for a storefront is enough to make one’s head spin!

Any words of wisdom any of you might offer would be greatly appreciated!

Respectfully,
Bartiloux Desmoulins

A friend suggested to me three things:

1. Share your product "free" ahead of your launch with friends. Let your name get out there before you actually start selling. A walking/talking sales agent is great advertisement in a non-ad world. SL doesn't really have billboards or commercials, so this is one suggestion.

2. Be creative. Try to think of things that stretch the imagination and push the envelope. There are new prim specialties coming with the update this week. Look at what is already being done and figure out how to be unique.

3. If you're premium, you get 512 M of land for 512 L. It is a good deal. You get 117 prims, and it is a place that you don't pay "tax" on after you buy it. It is a good way to start a business. You get a chance to test the market without a lot of overhead. If you sell well, then you know you have a product. Once you have a product that works, rent 3 spaces. Since you build furniture unique to BDSM, seek out BDSM environments on SL. Remember that Gor and Goth and even Vampire cultures on SL might have some use for your product, so try to find 3 venues that are unique to your product, and will be useful. Once you know you have product that sells consistently, expand. Expand realistically so you're ahead of the ballgame, not behind.

Caryn

Good points all!

What I've done is made a box of furniture for 512 plots, everything in it together can fill a house for 69 prims. Then on my own 512 plot I set up a model home, took a pic of it and put the desciption in my profile. I paid for a one week ad. Other than my membership and the L's spent on the land, this was pretty much free. I chose to buy a house, but there are plenty of free ones.

Pass out Calling Cards to people you meet in the market of your choice and since your profile has a link to your showcase 512 they can visit there and buy.

Yadni's Junkyard also has a lot of free vendors, but I mostly just box stuff up and do it that way.

Thank you for the feedback! I'm ready to get out there in the SL business world and see what happens!

Use the classifieds forum here (New Products) and be sure to include a snapshot of your furniture. I've found this a great (and free) way of reaching a shopper audience. You might also want to consider selling your items on a web shopping site like SLBoutique or SL Exchange - it costs a comissions so you don't have the recurring costs of a vendor spot, and the web-based format is nice for including lots of information and snapshots of the products.