You have followed all the steps outlined in my previous article “Empire Avenue Newbie Advice (The First Hour)” and by now it is the second hour of your Empire Avenue existence.
Surely, at this point some people have invested in you. You should see your share price rising and find some ‘welcome’ comments from your investors on your profile.
First thing you want to do is reinvest in everyone who has bought you to this point. And, therein lies a problem. Your account is not stocked with a lot of eaves to invest in others, so you have to invest smart, meaning don’t buy as much from everyone as you can, instead buy 1,5 or 10 shares, just to acknowledge their investment in you and begin a relationship with them. When you buy shares in others, make sure you put a comment on their profile (the box will pop up). Thank them for their investment and tell them you bought and will be back for more; i.e. “Thanks for your investment (name). Just bought x of your shares, and I will be back for more soon”. You will be surprised at the number of investors who will immediately come back and buy more shares in you , simply because you invested and communicated with them. There are ways to get more eaves to invest and we will talk about them in ‘The Third Hour’
Second thing to do is to keep track of your investors and investments. Empire Avenue itself offers a very bare-bone system, which may suit you well if you have less than 50 users in your portfolio and less than 50 shareholders. Once you hit numbers above that, and you will if you follow these steps, it gets tricky. There is one third party product called Avenue.io; it has a FREE option; but to get the full use of it you have to pay. We will look at it in another edition. For now lets just assume that the shareholder and portfolio lists provided by EAV are sufficient.
Third, buy some people you want to connect to with. At this point it is all about making initial contacts. But how should you pick those people? Wait, what? You have not made a plan on how to utilize EAV to further your brand, company or product? Well, it is time to sit down and get started. So, while you are waiting for ‘The Third Hour’ scrabble some ideas on how you want to use EAV on a piece of paper.