Friday, January 9, 2009

Virtual Real Estate

Its getting harder and harder to climb onto the real property ladder these days. What was climbing a meagre hill is now becoming more like conquering Everest. For the average income earner it takes a little juggling.

So when you are introduced to the world of virtual real estate, namely online sites, it is not surprising when the blood starts pumping with possibility.

The principles remain the same. You need traffic. You have clients: individuals searching for a product or service or simply information. Yet there is one major difference. In the real world there is only one time square. Online, you can create you own time square. You are only limited by your ability to draw traffic.

Sure, there is a elephant-sized stigma- especially with information purists- in opposition to monetisation of websites and advertising online. "If I see one more popup window i think I'm going to smash my somputer screen!" But the principle is simple and frankly, tested and proved.

Newspapers and magazines have been doign it for years. Write a column, sell some advertising space. Create an audience, now cater to their needs and desires. It's simple marketing and anyone can do it.

Let me backstep slightly. Not everyone can do it. Anyone who can bring value to the online marketplace can. Anyone. But that is the key: value.

Pipe dreams of becoming an overnight online tycoon are prevalent but impossible. If you want to build an empire. Start by bringing value. True it is that you can create you own time square, but in fact you are starting construction in a baren desert.

Build roads. Have an attraction that draws people in.

Whether it is online or real estate the rules are always the same. Know you market. Bring value. Work hard and don't expect overnight success.

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