Are Second Lifers engulfed in a Red Ocean?

Are Second Lifers engulfed in a Red Ocean?

Blue Ocean Strategy: We’ve kept note on the evolution of the virtual world of Second Life, reporting on Samsung and Xerox and their use of Second Life as an expression of Blue Ocean-like thinking. However, as the Second Life marketplace is not limited to Fortune 500 companies, many entrepreneurs hoping to seize opportunities in this make-believe marketplace are finding that they are coming up against multiple challenges. As a recent ABC news article reports:

Speaking candidly in interviews and discussion sessions at the "Second Life" Community Convention here this weekend, entrepreneurs said they must consistently deal not only with traditional issues of brand recognition and quality control, but also technical difficulties that impede access to clients. They also must compete against Fortune 500 companies who give goods and services away for free in "Second Life" in the hopes of turning a profit in the "first" world.

However, given this unique environment and new frontier for Second Life entrepreneurs, we see Blue Oceans of opportunity. Rather than battling the competition head on, business owners can tap into the Blue Ocean Strategy framework for a step-by-step guide to creating new marketspace and making the competition irrelevant.