How To Choose An Online Business

Written by NaijaEcash

Topics: Investing, Tips & Tricks

Too many potential online entrepreneurs are waiting and praying for someone that sees tomorrow to tell them the perfect business that will turn them into a millionaire. They want to know the perfect business so that they will do it just right the very first time and become instant success.

Well, there is no such thing. Go ask the next door successful entrepreneur in your neighborhood, he will most likely tell you that:

  • Success comes from making good decisions (even a fool knows that)
  • Good decisions comes from good judgment (nobody will dispute that)
  • Good judgment comes from experience (I thought it is luck!)
  • Experience comes from several bad judgments (I don’t want to agree with that !???)

Welcome to reality. You need not be afraid of making bad judgment or failing! The only way to know if something will work is to try it! This does not mean you should foolishly and consciously start seeking for opportunities to make bad judgment. Rather it means you should seek for opportunities to succeed and try them. If they work, you have added to your experience, if they turn out as failure, you have learnt “how not to do business” 😉 and that will be an addition to your wealth of experience as an entrepreneur.

Several self-made entrepreneurs have offered guidelines that can help one in choosing the right business. I will share five with you.

  1. Find your passions – The greatest motivator you need in business is your Passion. So choose a business that you are passionate about. A business that has to do with something you are enthusiastic and excited about. Are you a football fan, then don’t waste your time trying to sell boxing stuffs, you’ll do better selling football accessories (just a tip, some can easily adapt).
  2. Capitalize on your natural strengths – It is a fool that agrees to compete in an area he is naturally weak. Ask yourself this simple question “What do I do better than most people?” Your answer will most likely show where your natural abilities lies. Examine the list and choose one that you feel is the best. (Don’t be afraid of making a mistake, you can always come back to choose another among the list). Choosing a business that will take advantage of your natural strength gives the advantage of you playing in your home-turf. You stand a better chance of succeeding.
  3. Create Value – People are willing to exchange their hard-earned money for value. What people term VALUE is solutions to their needs. The needs comes in various forms, e.g physical, emotional, imaginary etc. (It is not your job to tell the people what their need is, rather discover what they want and supply it. That guarantees patronage)
  4. Do a little investigation – Now is the time to act like a serious businessman. Having picked a business, don’t rush in until you’ve made a little research. Get informed about the market. Get to know something about the potential clients. do all you can to get well informed about the COMPETITION! (Trust me, you don’t want to start an online business only to discover one month after that the reason why you have made zero sales is because GOOGLE is your main competitor, 🙂 l0l. If you must compete with Google, at least know all you can about them.)
  5. Be Focused – Concentrate your effort on making the business successful. Do everything you can to proof the cynical critics wrong. Define your goal, write it down, repeat it to yourself daily.

Trust me, nobody can stop you from succeeding online, because nobody has a blueprint on how you can be stopped. Take a bold step, you have all it takes to succeed. If you’re really serious, check out some tips from Rajaie who write on how to make money online. See you at the top.

If you need any assistance, I will be glad to help. If you enjoy this post, drop a comment, subscribe to my feed or drop a note through my contact form. Cheers.

17 Comments Comments For This Post I'd Love to Hear Yours!

  1. Tam says:

    I like this post.

    So many people on this crowded smorgasbord we call the internet try to tell you exactly how to do things.
    I think you touch on the truth, that there is no substitute for personal experience, and making mistakes, though bad at the time, can be a damn good way to learn things.

    Good luck with the blog, I’ve added you to my technorati faves!

  2. NaijaEcash says:

    @Tam
    Thanks for dropping by and taking time to read my post. I checked out your blog and it was a lovely one too. Thanks for adding me to your technorati fave too. I sure will add yours. Cheers.

  3. Good post on how to choose best online business opportunities by choosing a business that we are enthusiastic, excited,passionate about,a business that will take advantage of our natural strength,knowing something about the potential clients,defining our goal, writing it down and focusing on our work.

  4. NaijaEcash says:

    [re=114]marketingtips[/re]:
    Thanks for visiting and reading my post 😉

  5. biola says:

    guy, nice post am glad that there are still people like you in Nigeria.. but from your post I can see that your natural talent is advising people 🙂 ……well i hope in the nearest future we can even help people write feasibility reports of prospective businesses they can do.
    biola

  6. Greg Brave says:

    Hi, thanks for this post!
    But it seems a little to general. I would thank you if you could write more about each point made in this post.

    Greg Braves last blog post..Whales around Wellington

  7. NaijaEcash says:

    [re=348]Greg Brave[/re]:
    Thanks. I take that as an assignment to be worked upon. That is the beauty of FEEDBACK. Cheers.

  8. Samson says:

    I can create excel templates to suite the functionality of small business in their control and report unit. can u find a job for me

  9. NaijaEcash says:

    [re=365]Samson[/re]:
    Thanks Samson for visiting. I sure will like to help, however, I will rather advise that you start a business instead of you looking for a job. I will get in touch via email so that we can discuss better. Cheers.

  10. scubbey says:

    I love your articles keep it up great naija i dey hail you HO!

  11. scubbey says:

    NAIJAECACH
    Men i 2 much gbadun this of ur advice i first saw the one you applied in nairaland before i now see this most gigantic one again, because am almost fed up in this so call internet of a stuff because have done so many internet business but all in vain like (www.a3union.com =>$400), (www.dxinone.com=>$250), (www.earnpay.com=>#15,000), (www.getawayclub.net=>$200) and so on ) I know how much have spent so far that i don’t want to continue again. Even i still have some money in my e-gold account but am afraid of continue another internet business because of all this so far. Thank NaijaeCach For your encouragement keep it up.

  12. ukoba says:

    Nice work and words. Keep d flag flying. U can pay a visit to my site currently under construction but leave a comment on ways of improving it and d topics that I discussed in the site.

    cheers

  13. Temitope says:

    NaijaEcash,

    Thanks for the good work both on nairaland and here, may God bless your effort as you try to enlighten people to their success. I will need your advise on a part-time business you can advise me to do with N200,000. I work full-time in a company but I am working towards being self employed.
    Kindly advise me.

    Thanks

  14. AKINDEINDE AZEEZ says:

    LINK ME WITH THE BUSINESS

  15. orebiyi.o says:

    I really gbadun this your post; doing it the naija way. I dont really mind it if you can link me up with a very easy internet bus. forex is totaly out of it. So also is egold, fund managers and co because i was once a prey to them.

    • NaijaEcash says:

      @orebiyi
      Thanks for visiting and dropping your thought. Cheers

    • NaijaEcash says:

      @Orebiyi
      I guess I’m shy that’s why I don’t like marketing face to face. I’m going to do something about marketing people for bulk SMS. Every additional stream of income is good as far as I’m concern. So long it is legitimate anyway. 😉

17 Comments Trackbacks For This Post

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