Starting an online business is not as difficult as it appears to be, to learn how to start your online business successfully read on.
What is an Online Business?
An online business is a shop/office with products to offer to their customers/clients via internet resources such as blog, adverts, website etc.
OK now see the one below;
An online business is an idea served on the internet to provide value to the customers and to make money for the owner(s).
Benefits of Starting Your Online Business
- Independence: You will no longer be tied to the 9 to 5 daily schedule and you will be able to do your job even from your bedroom!
- Ownership: All your investments in the business will be your own, you grow your own business just the same way you’ve grown others’ businesses.
- Higher returns: You can make huge profits and determine your salary/wage yourself.
- Respect: You will be respected as a job seeker who has become a job creator.
- Financial Asset: Your business is an asset if it makes money for you ( analysed from the tutorials of Robert T. Kiyosaki, financial coach and writer). You can hand it down to your children and generations to grow it further and make good use of it. You can also use it to source for loans or even investors who will be willing to fund your online biz.
9 Tools/Assets to Start Your Online Business in Nigeria
- A smartphone or laptop: You will need to access the internet and its resources, so you need to employ a device, a laptop or smartphone will do. I used my smartphone to create my blog and I use it to access information.
- Blog/Website: You will need an online office/online shop be it for information provision, marketing your products and/or reaching out to your clients/customers and sourcing new ones using SEO (Search Engine Optimization).
- Data/Airtime: You will have to look for the best plans that can suit your work from MTN, 9mobile, Glo or Airtel networks. You can as well get a data SIM (only for unlimited browsing) I heard it from somewhere, haven’t tried it out.
- Entrepreneurship education: There are many places you can learn about finance sources, digital marketing, business promotion a d product/service branding. You can as well subscribe to my blog for youth entrepreneurship, as I research, curate and write about these concepts.
- Social media handles: The world has become a global place, and many Nigerians and foreigners are active on some popular social media (Facebook Twitter, Instagram, WhatsApp, YouTube etc). They might serve as potential customers/clients. Choose the ones that you need most.
- Credibility Factor: I would say try as much as you can to be credible, care about your customers/clients and they will also help in building your online business in Nigeria by word of mouth, referral, bigger jobs/contracts or who knows maybe even sponsorships.
- Consistency: Don’t give up in the face of challenges. Keep using your business success formula and learn new ones. Many million-dollar businesses started from scratch. Jeff Bezos, no. 1 world richest man and founder of Amazon , an e-commerce website, started with a computer and in his garage.
- Capital/Funding: You will need some fund to kick-start your business either via savings, investments, loans or from your personal income.
- Digital Bank Account: Any bank account is good enough, but to do transactions and many traditional and extra things from your phone use Alat by Wema
7 Types of Online Businesses You Can Start in Nigeria.
- VTU Portal: Virtual Top Up biz is the automatic vending of airtime, data, cable TV subscriptions and examination pins (WAEC, NECO etc.) You will need a website and a bank account.
- Income Program: This is a membership website where you provide content such as news or education and reward your members out of the revenue according to the points they make. Examples include: NNU Forum, Giftalworld etc.
- E-commerce: You can sell laptops, wristwatches, clothes, bags and deliver to your customers.
- Adverts website: You can help clients to place adverts on your website and/or help bloggers/website owner earn revenue via ads placement. Examples are Google AdSense, Propeller Ads. The adverts you see on my blog is placed by one of them and they get to share revenue with me while probably they take the larger share. You can try this business if you have the passion for advertising.
- Blogging: You can start a blog (an online journal/diary) on any niche be it politics, business,sports, technology, economy writing useful evergreen content and promoting same and monetizing it.
- WhatsApp TV/Radio: You can provide information for your status viewers and monetize it. I know about two persons on my WhatsApp list who does so: you will need a large contact base on your phone.
- YouTube channel: Just the same as blogging though it is called vlogging for video content.
If you want me to get you started my online services for your business, you can contact me