Friday, July 30, 2010

What is Virtual Real Estate

You have probably heard the phrase “virtual real estate”. I am not referring about any games like that of owning a huge farm from Farmville or Farm Town. I am referring on your real estate where you earn an income. But this time, your real estate is inside the world wide web.

I am referring to your website or blog. Though it is something that you own, you cannot touch it, you cannot hold it. All you can do is to control it.

Your blog or website is your online asset where you can generate lots of income opportunities. It’s just something that you should not be neglecting.

There are several advantages in acquiring virtual real estate:

  1. It is a lot cheaper to have than that of literal real estate.
  2. It is a lot easier to convert to cash than that of literal real estate.
  3. There are more income opportunities than that of literal real estate.
But of course it is not only all advantages. It has also some cons.
  1. It is more fragile than that of literal real estate.
  2. It requires a more technical and professional study to set up.
  3. It can be hacked; leaving you empty handed unlike in literal real estate, though someone may rob it, your real estate remains intact except for its accessories.

Importance of Owning Virtual Real Estate (VRE)

Of course, not all will agree that it is really important to own a virtual real estate. But let me just give you some of the things that it can do to you and to your business.

  1. It can give you more customers to your business. Your prospective customer is literally the whole world. Anybody can visit it 24/7. Anybody can see your product virtually.
  2. It can give you a better reputation online. Virtual real estate can give you a good boost in building your reputation.
  3. It can give you many friends. Blogging is certainly the best way to build friends.
  4. It can boost your business. Not only that it brings more prospective customer to your business, but it does literally boost your business.
  5. It can give you a wider opportunity to derive more income. There are multiple monetization models that you can apply to your virtual real estate.

Domain and Hosting

I just want to touch this because if you really plan to have a virtual real estate, you will need this valuable information.

Try to consider this:

Your Domain = The name of your office.
Your Hosting = Your office space.

Just like any other business, you have your own office in the virtual world. It is very important that you use you choose your domain name very carefully. It reflects who you are and your business.

Concerning your hosting, you will never want to have an office that will always be closed. You want your office to be always open. You want your office to be welcoming your visitors all the time. This is why you will need to choose a good hosting company.

So What’s the Next Step?

While there is really a lot of opportunity  to work online, still owning and running your own virtual real estate remains the best way to earn online. Here’s your next step:
  1. Brain storm on what business that you want to do online. Make sure that you are an expert on that part. This will keep you expanding your business in the long run.
  2. List what you have brain stormed and start writing all about it. This will form part of your content. Try to write about 30 articles having 1000 words each. Make sure that it is related to your business.
  3. Get a hosting company that will guide you through in setting it up. I highly recommend Site Build It if you want a website. They simply provide all the necessary tools that you need in starting a website including video tutorials. On the other hand, if you want a blog, I recommend Host Gator. It has a reputation of delivering a good service.
  4. Widen your knowledge by reading good resources. I recommend the following books and websites /blogs:

I hope this post gave you a good glimpse of virtual real estate.
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This blog is a portfolio of knowledge about Money Making Online and Blogging. It is full of tutorials and helpful tips on successful blogging and making money online.

To start with, I highly recommend that you read 31 Days To Make A Better Blog.

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