How am I creating a business in SL?

[badwolf007]

I would like to create a business in SL.

What is the process?

How do I promote it, so people get to know it?

[badwolf007]

I would like to create a business in SL.

What is the process?

How do I promote it, so people get to know it?

[Rolig Loon]

It all depends on what your business is.  If you are a creator, you will probably want to sell your products in a Marketplace shop, or may want to rent space and set up a shop in world.  Marketplace doesn't cost you anything unless you sell an item, in which case Linden Lab takes a 5% commission.  If you set up in world, you'll have a weekly/monthly rent to pay your landlord, but a good in-world shop is a more attractive way to display a selection of products than Marketplace, and you can take advantage of customers who are attracted by your neighbors.  You can read a lot more aboput your marketing options in articles in the Knowledge Base, starting with

https://community.secondlife.com/t5/English-Knowledge-Base/Selling-in-the-Marketplace/ta-p/700193

https://community.secondlife.com/t5/English-Knowledge-Base/Selling-objects/ta-p/700143

If your business is a service, like being a DJ or a performer, or if you create items on commission (like scripts, for example), you'll have to place ads in the InWorld Employment forum and start contacting likely clients in person. 

Read more at http://wiki.secondlife.com/wiki/Guide_to_Jobs_in_Second_Life

Just as in RL, starting a business takes time and planning.  You need to have a good idea of what your business is, who your customers are likely to be, what they are likely to want, and what your competition will be.  The best way to start is to take your time and learn the landscape.  Visit businesses like the one you want to setup.  See how they work.  Look carefully at the quality of their products.  Talk to people about what they like and are looking for.  Assess your own skills realistically and consider what steps you need to take to become competitive in SL.

The most important thing, though, is to get in the right frame of mind.  Unless you are one of the very few who become mega-successes in business here, this is a hobby.  Don't expect to earn much money.  Ask yourself instead how much time and money you are willing to invest in your hobby as a creator and merchant.  Go into business to have fun.  If you do make money, that's great, but don't make that your primary reason for being in business in SL.