James Mills is a web developer in the North East of England and founder of Refresh Teesside »
Mike Hughes is the Head of Business for the Evening Gazette. He will be blogging on all matters of importance to Teesside businesses - and some that are just worth knowing »
Jez Davison, business writer at the Evening Gazette, is a regular blogger on all things business - particularly finance, entrepreneurship and the state of the Teesside economy » 
Karen McLauchlan is the Evening Gazette's deputy business and features editor - with special interest in all things industry, property and arts related » 
Jeremy Middleton is a venture capitalist and the co-founder of FTSE-200 company HomeServe » 
Deloitte, which has 23 offices across the UK including Newcastle, is among the country's leading professional services firms » 
ClimateNE & Climate Change Schools Project support the move to a low-carbon, resilient economy and help businesses avoid risk and realise commercial opportunities. Posts by Jen Atkinson, Krista McKinzey and Harriet Thew » Often stare out of your window and dream of setting up your own online business? You're not alone, but the risks involved in ditching the day job are scary enough to put off many would-be entrepreneurs.
If you're weighing up the benefits of being your own boss with the fear of risking your home on a punt, I bet you'd be interested in a site where you can try a business out for size without losing a 'real' penny.
Why not try Second Life? It started as a game and has evolved into a thriving 3D virtual world with its own currency and business community.
There's no limit to the types of business you can start up on Second Life, and its currency, the 'Linden dollar', can be exchanged for real money on several currency sites, so there's a chance your virtual business could make you a mint in the real world.
The success of the concept is clear - lots of big US chains have set up shop fronts to attract the Second Life community. So remember it's not just new businesses that can benefit from Second Life - there're a range of options that could help your existing venture. For instance, take a leaf out of Mazda's book - they launched a new concept car on the site to get a feel for the market's response before hard launching.
Has you traded on Second Life? What success have you had? Any tips for aspiring virtual tycoons? Leave a comment on this blog or visit webetopia.com and share your experiences with me and other North Eastern businesses.
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