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Hi, welcome to my blog. In this part of my world, I talked about how to achieve financial freedom by learning how to make money online through creating sites and earning from them.

Below are some current and past make money projects that details my learning journey.

My current experiment in making 50 amazon site niches. If you have not been following this challenge, best place to start is this resource page for the amazon challenge, that lists all the articles that I have written so far.

My experiment in making 1000 a month through adsense in 9 months.

If you came here looking for low cost startup ideas, here are 140 startup ideas that you can browse through.

Tuesday, 11 September 2007

Startup Idea #14: Virtual currency in real world enterprise solutions

A lot of business efforts have been focused on using real world currency on virtual world items or actions. However, the reverse of using virtual currency on real world actions might also offer business ideas. One such opportunity is in the enterprise space. I can imagine, for example, using virtual currencies in a staff reward system. There are a few companies that employ instant rewards to employees for well accomplished jobs. A virtual currency system can be implemented to let managers give out such rewards in a more timely manner. Employees can then redeem these currencies for real financial gains at the end of financial year. The advantages of such a system is that virtual currencies relieve HR of the complications of financial administration and at the same time provide timely motivation incentives.

Beyond HR systems, virtual currencies can be used where there is a need to allocate resources. These resources can be physical i.e. conference rooms, contract staff or virtual such as employees' attention i.e. emails, meetings. There is definitely much room to explore here.

Updated: 24 Nov 2007
What we are doing is introducing economic efficiency into an otherwise inefficient market i.e. the firm. If we frame our thinking in this way, we can actually do a lot with the idea here.