Empire Avenue or EAv ….OK, so we will go into this a bit more during the next podcast which I know is late. This real life thing continues to take time away from blogging and podcasting life. Right now though the day job pays the bills and so it wins out. but I digress, on to Empire thoughts from a wanna be EAv mogul.
If you are like me you will join Empire Avenue for a few reasons. The main reason I thought I would join up was that it gave Geektechlive.com a bit more visibility. I also really like those fake stock market games where you use fake dollars to invest in real stocks. The cool thing to consider in Empire Avenue for me was that you can be very successful in this game because you drive your own price. It is up to you, the stock owner to invest and be active on Empire Avenue as well as all the Social Media outlets. If Empire avenue really was the real deal I also figured this would allow me to get a valid gauge as to how active I truly was on twitter, facebook, Flickr etc….
The only outlet I did not hook up was LinkedIn as I am trying to keep geektechlive.com separate from my day job life in IT. By day, I am Director of an IT shop for a SaaS company in the Insurance Industry and by night I try to make new Nerdy connections via GeekTechLive.com
So, I have been in Empire Avenue now for a few weeks. I have learned a lot and I am making a fair game out of it as well as finding some new fresh faces to mingle in with the current wave of Geek Tech Live friends. After the initial IPO of your ticker symbol and the mad rush of investors it does become a bit more subtle in the game play mechanics.
Tips and Tricks:
Ok, so now you have your ticker and you have a few investors, where do you go with your money? This question depends on what your goal is. If your goal is to grab the highest seat in the index you chose (CEO) then your tactics are going to be different than if you are just looking to reconnect with old friends and make new ones.
I as I am prone to do, am trying to strike a line down the center. I want to “game” but I also want to make new connections. Here are the basics of all three scenarios.
Invest big and go all in on other stocks that are showing good dividend ratios. It really is as simple as that. I try to buy 200 shares of a ticker and look for tickers with Div per share of higher than .50 and show steady growth. that means that those people are not only active in EAv (the acronym for Empire Avenue) but also are actively making good investments of their own. You will be not holding on to investments for very long but each time you should be making more cash to re-invest. Rinse and repeat.
Invest in friends and contacts and look for new people to invest in and make contact with for friendship or business. Its much less of a “game” than a place to find new people in the communities and talk about hobbies and find and expand on your own circle of online friends. Don’t expect huge growth in your stock but don’t rule it out either, this game is all about making connections and expanding your group of friends. You will probably buy stock in everyone you already know on EAv, something other people have warned against doing. The way I see it is, you probably don’t want to be CEO of the Index you are in so why not have fun and make some new connections while not doing that?
The Waffler ( Me)
Invest in some people you know, maybe join a community and post in there. make some new friends and chat with them in EAv or Twitter. You also want to set a limit of how much you will invest in your friends and take the rest of the Eaves (Cash) and start making some tactical investments to increase your net worth as well as your dividends to share ratio which will draw in more investors which in turn allows you to make more investments. You wont be rocketing to the top like SCOBLE or PIRILLO but you wont be stuck at the bottom either. you will however make some great new contacts and learn more about how you are interacting on the social networks than you thought.
Well that was the boiled down basics of what I have learned so far from playing EAv. I hope my tips and tricks and info helped you a bit. Maybe I will see you soon on EAv. Drop by and put a shout out on my profile at http://www.empireavenue.com/geektechlive.