Online Business

Written by NaijaEcash

Topics: Entrepreneur, small business

Online Business

Have you started your own online business? Do you have a website? Are you online? Are you making money online? Those are common topics for discussion these days. Internet services are fast becoming available everywhere. Gone are the days when you must visit a cybercafé before you can get online. This days, you can hook-up to the internet using mobile phones even if you’re living in a village where electricity is a luxury.

The information technology improvement has created an exciting frontier that is abundant with business opportunities. It is an established fact that people in this present generation now communicate more using the internet than they do using any other media. So, why not exploit the same for business ventures? That is what this post is looking at.

What is Online Business?

Are you kidding me? You want a definition of Online Business! Well, since you asked, my definition of online business is “An Online Business is any legitimate activity carried out on the internet (world wide web) that generates profit after all expenses has been fully paid for”. Please note the following:

  • If it is not a legitimate online activity, then it can’t be called online business. It is better referred to as scam!
  • If it doesn’t generate income that is more than the expenditures incurred in carrying out the activity, then it can’t be called online business. It is better referred to as hobby!

I believe that definition is simple enough for our purpose. Let’s get to the next issue.

Who can do Online Business?

Anyone who has enough determination can venture into online business. There are myriad of online business opportunities that are waiting to be explored. You don’t have to be a computer guru. As long as you can read and move a mouse or any other pointing device, then you can learn to do business online. Even if you lack those basic abilities or you are unwilling to get involved, you can learn to outsource many of the tasks you don’t like to others who are willing to do such at a fee. In other words, you can actually run your online business without engaging a computer physically. The possibilities are endless.

What do I need to start Online Business?

Well, the minimum requirement is a link or connection to the internet. For you to do business online, you must go online. That is the only requirement that cannot be bypassed. Once you get online via an internet connection, either with a computer or a smartphone, then you’re ready for online business. The fact that you’re reading this shows that you know how to get online, except if you got a printed copy of this article.

The subsequent requirements will depend on the type of online business you wish to do. There are some online businesses that requires huge amount of money to start while some other ones require zero capital. I will give two examples to buttress this point.

  1. You can sell other peoples product or service. There are different methods of doing this. However, many of the methods allow you to start operating with zero capital. You can setup a free website, write your own articles or get free articles from article directory to promote the product or service you want to sell. The last step will be to work on generating web traffic for the new site.
  2. Bulk SMS reselling. To start this business, you must buy an SMS package from a major SMS reseller and then sell to individuals or corporate entities that need the service.

As you can see, it is possible to start the first idea without spending a dime, but the second business idea requires at least about $20 as kick-off capital.

How can a Nigerian run a successful Online Business with the poor social infrastructures?

Too many never get to start because they are waiting for a perfect business environment before they start. The truth is you can start making money online even with the poor social infrastructures that we have in Nigeria. I started browsing when it cost N20/minutes to work online. Today, you can go online for less than N1/minute in some cybercafé. If you’re are really determined, you can make it. Instead of wasting your time chatting with strangers on Yahoo, you can start your online business by building a blog.

Is Online Business Risky?

Well, life itself is full of risks. It is a risk to wake-up in the morning and step outside your home. So, the answer is yes. Online business has risks. However, the risks are such that an average Nigerian can handle. You will only get into a mess by engaging in either of the following:

1. Engaging in illegal activities online because you want to get rich overnight. Gone are the days when online activities can be carried out anonymously. EFCC and other agencies are on the lookout for those that use internet to commit financial crimes.

2. Parting with cash in a hurry without learning how things work online. Too many Nigerians have fallen victim to fraudsters who sell all manner of automated junks that they claim are capable of making you rich while you do nothing.

My suggestion to you is that you start with free resources. When you have learnt how things work, and you have practice with free resources, then you can start spending your hard earned cash for resources you feel will enhance your online business. Take it from me, online business requires patience. You can’t make it big online in a hurry. You will simply get your pocket burnt by falling victim to scammers.

So quit talking and get into action. Start your own online business today. Cheers.

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

  1. Prince says:

    Another good post.
    A cellphone or smart phone browsing is totally out of it for a better online presence, it maybe good for checking your emails or chatting. You can’t ftp any file using a cellphone.

    • NaijaEcash says:

      @Prince
      While a smartphone is not the ideal tool for online business, the present situation in Nigeria makes it the only available tool for constant use by some Nigerian Entrepreneurs. The major challenge I have with using my smartphone for my online business is not the transfer of a file, I can still do that even though it takes some effort. The challenge is the tiny QWERTY keypad that doesn’t allow me to use two hands to type 😉
      Beside that, I can do several other things online once I hook up with my smartphone. The most recent Opera Mini 5 makes a smartphone browse better. Give it a try. You might just get hooked at conducting some of your online business tasks while on the move.
      Thanks for visiting again. Cheers.

  2. Instead of wasting your time chatting with strangers on Yahoo, you can start your online business by building a blog. LMAO. Another seminar by Henry Omenogor is bound to go live soon and I’ve written another post showing those who can’t afford the N12,600 which the seminar costs, how to learn to make money online free of charge.
    .-= Udegbunam Chukwudi´s last blog ..Facebook Naira Free Report Analysis =-.

  3. james says:

    hello dear how is everything there .i am fine hope u we be the same where u are let me start introducing myself i am james from Nigeria i am not married and have no kid and have no business i am looking for job i we like to become a member of ur company if u ni mind can u mail me to my address here is my id james.okocha@yahoo.com i we like to hear u as soon as possible .have a nice day from james

  4. Evelin Williams says:

    The online world/business is a tough learning curve with very sharp edges.

    The only thing that will make one successful is his/her perseverance.

    Ev.

  5. Che says:

    The barrier to entry to online business is low compared to real world business, but that is one of the reason for high competition in some areas.

  6. AJE SAMUEL ADEJARE says:

    I DO NOT HAVE WEBSITE
    PLS I NEED YOU TO PUT ME THROUGH TO BE A ONE OF ONLINE BUSINESS MAN

  7. Online business is not a rocket science, it is what most people can do, the problem with most of us us that we need results immediately and as they say “Nothing good comes easy” so it is with online business, it may take some time and it only takes the patient dog to eat the fattest bone

    • NaijaEcash says:

      You’ve said it all. Too many Nigerians think that Online Business is a means of getting rich overnight. But that is not the case. Online business just like offline business need a lot of patient at the initial stage of startup. An entrepreneur must behave like a farmer. He must patiently grow the business before expecting result. It is unfortunate that many do not want to wait, they want instant wealth, no wonder they end up victims to fraudsters.

  8. mk akan says:

    a business means ..having a product or service that people can pay for…so online business means ..having or using the internet to provide a product or service someone can pay for.

    this is a basic distinction we must all know…just having a blog or website is not online business. providing a product or service people can pay for or anything of value that can bring in money is what defines a business…
    business online is a bit different from business offline but the principle of making money remains the same…

    • NaijaEcash says:

      I love your definition. Gets one to reconsider whether one is actually running a business or a hobby. If the goal is not to make profit then it can’t be classified as a business.

  9. True what is a game for one, is a money making tool for another.

    I love using social media for relaxation e.g Facebook. But I have chosen to reap the monetary benefits of it instead.
    Davida Yemi-Akanle´s last blog post ..Best Web Site Builder

  10. Yinka says:

    I stumbled on this site and I’m really glad I did. A forum where I can share ideas with fellow Nigerians about online business. I believe Nigeria is still in the early stages and there is real opportunities for growth. And the increasing number of smart phones in the Nigerian market should provide a real boost for online entrepreneurs

    • NaijaEcash says:

      Thanks for visiting. You’re quite right about several opportunities available to Nigerians online. Due to the rapid growth of internet users in Nigeria, many people are beginning to tap into the vast opportunity to make money online. Smartphones have made life easier as you can easily go online from such phones. I learnt this is affecting the cybercafe owners adversely as they are having low patronage.

  11. Rogers says:

    Really nice article; I have to agree on everything you have said. According to me, the best part of online business is it requires minimum investment. Even you can start earning money with a free blog!

    But you have to be determined and dedicated. Also, there is no short cut to success. Work hard, it will pay off in the long run.

    Also, the way you have defined how online business is different from scam and hobby is amazing!

  12. Adam says:

    I agree with all what you said; it is like a gold rush. But then why not many people are trying to become successful in online business?

    I know that a lot of people are trying this but the number is still less. Probably lack of knowledge is a reason.

  13. I think the business a student who is currently sponsoring himself is online bu. please let me know how I go about it

  14. Murphy Adeboye says:

    Love your advice and comments, I really want to involve in this online business but I am afraid of all these internet terrorists, however, when I red your post I was a bit relaxed. Pls furnish me with development that will take care of my interest. Thanks

  15. Buso says:

    i did not have any website and i want a truth online business.

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