In our online world today, digital real estate is essential. What is digital real estate? Digital real estate is any online platform that allows us to communicate and connect with people. This includes but is not limited to:
- Websites
- Social media platforms
- Email lists
Digital real estate is more important now than ever. People increasingly use digital real estate to find what they’re looking for and purchase what they need. As someone trying to start a business, digital real estate offers the following benefits:
- It is less expensive than traditional real estate.
- It has a broader reach than traditional real estate.
- It is easier to establish than traditional real estate.
- It has worldwide potential.
However, we must remember that not all digital real estate is equal. Third-party websites, social media platforms, and gig platforms are all outside our control, which leaves us at a disadvantage should they change requirements and algorithms or go out of business. We, as business owners, must have digital real estate we own and control: an email list and a website.
Action steps:
- Purchase the URL for your business.
- Establish an email list.
- Identify ways to attract people to your email list.
- Establish your website online.
Check out Thinking of starting an online business.