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Bulk SMS Resellers in Nigeria

Monday, October 12th, 2009

Have you started your own bulk sms reseller business?

Have you started your own bulk SMS reseller business? A guy just asked me that question, and I was wondering what made him ask. He was all excited as he gave me a quick lecture on how I have been missing out in the  new multi-million dollar business of reselling bulk sms to fellow Nigerians.

At first I was a bit confused and I was wondering if anything spectacular had happened within the few days I went offline (I took a break from the virtual world to face some pressing issues). As much as I can recollect, bulk SMS has been available as an online business opportunity for more than two years. Well, it didn’t take quite 2minutes before I recovered from the initial shock from his question. He helped me without by unwittingly mentioning the phrase “multi-million”. Whenever I hear the phrase, “multi-million dollar” or “multi-million naira”, my security antenna gets fine tuned. Such phrase often accompany “get rich quick scheme”. This is naija you know. If you play the “mugu”(fool), you may not even live to  regret your action. Anyway, in this particular case, it wasn’t about 419 or Nigerian Scam as foreigners will term it. It is about an old business that some con artists are parading as a new discovery.

Online sale of bulk SMS is indeed the new business-craze in town. Not that it is new elsewhere, just that Naija brothers and sisters have decided to zero in on bulk SMS reselling as the new online business that will bring in the million fast.  In case you don’t understand, the politicians have made it a taboo to think on anything less than seven digit income.  Everyone talks about making a million (naira or better still dollar) as fast as possible. Gone are the days of working patiently for years to build a fortune.

So, whenever a naija brother or sister hits a jackpot with a business idea, be rest assured that within a few weeks, many wannabe entreprenuers will abandon whatever they’ve been working on and rush in to make theirs too (even though many business mentor has pointed out that this is not the way to do business, yet, the lure for quick cash won’t let them listen). It amuse me when I see such rush by newbie entreprenurs who fail to find out how the first guy went from raw idea to achive business success! It is not about duplicating a business, it is all about learning how it works and working SMART. Ok, enough of my personal view.

Bulk SMS is the new business idea rocking right now in naija. Online Forex Trading seems to have lost its appeal. At least those who want to be a millionaire overnight are no longer seeing forex trading as the way to get rich overnight. No thanks to those who have exposed the deceit behind those Forex Trading Seminars. David Ajao won’t be forgiven by many of the con artist. I learnt that the sale of automatic forext trading robots to naija newbie forex traders have dropped significantly.

What is bulk SMS by the way?

Ok, so what is Bulk SMS? First, SMS means Short Message Service .  Bulk SMS  is simply a way of sending simple text messages to numerous contacts at once using the internet instead of your cellphone and you need not go through your telecom service provider. Am not quite sure the Nigerian Telecom operators such as MTN, Glo, Celtel, Zain, Etisalat etc love this idea, because it robs them of the abnormal revenue they make from Nigerians for each SMS sent via their networks. The telecom providers charges for SMS is higher than that offered by bulk SMS resellers.

Why use Bulk SMS?

I just told you.

1. It is cheaper. Unlike your service provider who will charge a higher fee for delivering the same text to a contact on a different network, bulk SMS gateways will deliver all SMS messages at the same flat rate irrespective of the destination.

2. It is easier to send to numerous contacts. Actually toyou can send SMS to millions, within a short time, for example, you can send a message to a million contact in less than five minutes. Once you have purchased the required credit, you upload a list of the contacts and write out the SMS message. One click will send to 1 contact or 1million contact, it is simply your choice.

3. You can schedule the delivery. This is another great feature. You can actually write a message now and schedule it to be delivered at a later date.

Bulk SMS Reseller Business

Ok, so how do I make money online from bulk SMS reselling. Simple, get a reseller account, (I won’t provide any link here because I am not promoting any) you can Google for it by typing “Bulk SMS resellers in Nigeria” into any of the popular search engine. Once you get a reseller account, the next step is to get clients. Yes, you need people who will buy smaller packages of the bulk SMS from you . For example, if you buy 5,000 units of SMS at the rate of 3.5naira per message, you can offer to sell each packages of 200units at 800naira. That is far cheaper to the 5naira that Nigerian service providers charge per SMS, so be rest assured you have a ready market. Also, you can design a website and offer to send SMS on behalf of people. Once they pay you, you simply send the SMS on their behalf to the list of contact they provide at the point of sale. This is a cool business for youngsters. You can sell the service to those wanting to announce an event e.g. a wedding ceremony, burial ceremony or a corporate event. I guess you’ve received such an SMS in recent times.

Some bulk SMS gateway provide the facility of inputting the sender’s number, so that you can actually receive reply. However, some charge a fee for such.

Is Bulk SMS reselling for me?

Well, only you can tell wether bulk SMS reselling is for you. I never encourage anyone to engage in a business he or she does not have passion for. It is easier to succeed at a business you are passionate about than one that irritate you. Now you know what Bulk SMS reselling business is all about. It is not a new business, but for Nigerians, it is a new way of making money online.

Will Bulk SMS Reselling Make me a millionaire?

Well, it all depends on you. Several successful entrepreneurs started off with business ideas that didn’t look promising, and yet they became financial giants. If you get yourself equipped with the right knowledge, set a goal for yourself and work persistently on it, this may actually give you an opportunity to make your first million. However, I must warn you that it will not happen overnight.

Warning: Scam Artists use Bulk SMS as a tool

Some will not agree with that it is not possible to make a million from SMS reselling overnight. I understand, such must have been told the story of someone that started Bulk SMS reselling and hit the first million naira within 30days. Yes, that is “possible”. It is done by sending fraudulent messages to unsuspecting people telling them funny stuffs to get them to reveal their bank financial details or part with some cash. I have received several SMS congratulating me that I have just won a million naira from my telecom provider. The sender name reflects the name of my Telecom Service Provider or her code, however, I knew they were fake because my telecom provider will never inform you that you have won a gift via text message. Instead, a phone call will be made and there will be announcement on the electronic or print media. So when next you receive a text message claiming to be from any of the Nigerian Telecom service provider informing you that you have just won a million naira, remember, this post ;-). That is Bulk SMS being used by a con-artist to dupe you. If you’re greedy enough, you would have coughed out some cash before realizing that you’ve been defrauded.

Ok, enough of the gist. I guess it is high time I go get myself a Bulk SMS reseller account. Who doesn’t want to be a millionaire? For future updates to this post Bulk SMS resellers in Nigeria subscribe to my RSS free updates.

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Posted in Entrepreneur, Investing, Nigerian, small business, Tips & Tricks | 147 Comments »

Nigeria at 49!

Thursday, October 1st, 2009

Today marks the 49th anniversary of Nigeria independence. Millions of Nigerians at home and abroad will pause to consider the journey so far. As usual, the Federal Government has declared today as public holiday. That means, workers can stay at home and spend time with their family members. That is exactly what I’ve planned to do. I will spend the day with my family and then fellowship with others in my local church in the evening.

Naija For Life

Naija For Life

While many feel there is no reason to celebrate, I totally disagree. I choose to pitch my tent with those who belief we have every reason to celebrate. Since there is life, there is hope of a better future. Martin Luther King did not live to see President Obama become the first black president of United States of America, but he foresaw the possibility in his mind when he declared “I have a dream….”

It doesn’t really matter if anyone thinks otherwise, I am personally convinced that Nigeria is going to get better. All the evil vices will surely come to an end. Those who are benefitting from the misfortune of Nigeria will be put to shame in the long run.

I am grateful to God that Nigeria has survived as nation, despite several political, financial and ethnic crisis. It is a sign that God has something great in store for us. If South Africa can get over apatheid, then Nigeria can get over these challenges and become a glorious nation.

To my fellow Nigerians at home and abroad, I say, happy independence day! Long live the Federal Republic of Nigeria.

Posted in Nigerian | 6 Comments »

Can You Still Trust Your Banker?

Wednesday, August 26th, 2009

Can you still trust your banker? I know that sounds like a foolish question, but hear me out first. As an Entrepreneur, I agree w to the fact that my business success team will not be complete without a trustworthy banker. Unfortunately, entrepreneurs in Nigeria, are being made to doubt if really the bankers  actually deserve a place in the success team. The recent Home Grown Financial Crisis rocking the Nigerian Banks is a real concern to Nigerian Entrepreneurs especially the small scale businesses.

I was chatting with a friend some weeks back and she asked if a particular Nigerian Bank was financially healthy. To me the question was absurd and I told her so. I even boasted that the era of banks going distressed is gone forever. Oh, how wrong I was. I had believed the lies that were told by my bankers. I believed the false reports tendered by the bankers as proof of health to the general public. The particular bank my friend was making enquiry about was among the five banks recently placed under searchlight by the CBN.

The five Nigerian Banks, according to CBN concentrated too much effort in granting loans to businesses in the highly risky oil and gas sector. As if that wasn’t enough, they set aside the rules governing loan approval and were utterly reckless in granting personal loans to insiders. Much of the loans were not properly collateralize as required by law. Simply put, they were playing lottery with depositors funds and jeopardizing investors funds.

While some people praised the effort of the CBN, some criticize the crude method used by the CBN. Recent information has shown that the CBN didn’t fine tune her findings before rushing to the press. Now the public is in a dilemma of what to believe! Well, I am not interested in the accusation and counter-accusations being traded by the CBN and the affected bankers. My personal concern is the effect of this ill wind on the economy of Nigeria.

Can I still trust my banker?

Until this millenum, small scale entrepreneur in Nigeria were quite skeptical of using banks.  They trusted their ‘Esusu’ ‘Akawo’ and other local cooperative societies better than the banks. However, it is practically impossible to expand ones business and play in the bigger market without making use of banks. So, many were forced to imbibe the culture of using the banking system.

Beside this, the activities of petty thieves and armed robbers have thought many that it is not a wise idea keeping large quantity of physical cash at home. Also, the introduction of ATM machine encouraged many entrepreneurs who are merchants to imbibe the culture of using banks for transfering money from one location to another. Gone are the days when merchants travelling from Onitsha to Lagos or any other part of Nigeria carries money on their person while travelling. The ATM card is safer and more portable.

Unfortunately, the recent activities of the bankers has cast serious doubts on the mind of the small scale entrepreneurs. The reality is that the average small scale businessman in Nigeria is now scared of putting his/her little fund in the bank. But how can you transact business without using the banks. This remains a dilemma! It is common sense to note that the risk of getting robbed while keeping physical cash is higher and more probable than the risk of a bank getting distressed. However, if bankers tells lies blatantly and engage in shoddy deals with depositors fund, should an entrepreneur still trust them?

I’m sorry if I disappointed you by not providing an answer to the nagging question, “Should I still trust my banker?” I really feel bad that the effort to encourage the public to imbibe the culture of keeping cash in the bank and doing less of physical cash transaction has been badly crippled by the dishonest financial institutions. The truth is, people are really getting scared of entrusting their funds with bankers.

Is there no Solution?

I really wish the regulatory bodies (CBN etc.) will wake up to their duties. Their primary assignment is to prevent fraudulent and illegal practices among the financial institutions. Their effort should be concentrated on prevention (not catching culprits long after the loot has been spent!)

I personally don’t give any kudos to CBN for their performance so far. As far as I’m concerned, they are partly to blame for the rottenness in the financial sector. If their inspectors and auditors are men of integrity who prefer good name to bribe, they would have discovered and reported long ago on the anomalies occurring in those banks books. Since they failed to give accurate and honest report as at when due, then I see them as accomplices who encouraged the bankers to misuse depositors funds.

The issue of non-performing loans

The outcry of the CBN on the mamoth size of the non-performing loans being carried by the banks is another issue that deserve closer srutiny. It is a well known fact that the various tiers of government are owning local entrepreneurs working for them. Instead of using the public fund in the coffer to settle contractors who have completed their job, some political office holders embezzle such fund while hiding behind official beureacracy.

Some of the entrepreneurs accused of owing non-performing loans in  those banks have come out to defend themselves and accused the government of being responsible for their inability to repay what they owed as at when due. If the government agencies refuses to pay an entrepreneur as agreed in a contract, then what right has the same government to insist that such entrepreneur should repay loan taken to execute the same contract?

If EFCC is serious about helping to recover the non-performing loans, then they should start by querying the top government officials in those parastatals that are owing contractors. The accountant-generals, commissioners of finance etc of each state and local government should be asked to explain to the public why they are not meeting up with the contract agreement made with the local entrepreneurs. The truth be told, we will have a better Nigeria if our leaders believe in the slogan, Good Leaders, Great Nation!

I’ll love to hear your opinion on this issue. Share with us in the comment section. You can get updates to this post Can You Still Trust Your Banker by subscribing to Nigerian Entrepreneur RSS feed, Cheers.

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Posted in Entrepreneur, Nigerian | 9 Comments »

MapNTL Saves Time and Money

Monday, April 20th, 2009

The greatest asset of an entrepreneur is TIME! Not necessarily money. A successful entrepreneur seeks to make optimal use of his or her time. Spatial Technologies Limited has brought relief to Nigerian Entrepreneurs by providing an Interactive Street Map and Business Location Finder for Lagos, the major commercial hub of Nigeria. MapNTL, Nigeria’s foremost online mapping portal!

MapNTL

MapNTL

The tool which is based online on there website www.mapntl.com does a good job locating most of the streets in the commercial areas of Lagos. If you have ever used Google Map or MSN Live you won’t have difficulty using the interactive map.

Why a Local Interactive Map?

Someone argued that this tool is just trying to duplicate something that has already being accomplished by Google Map. Well, from a Nigerian user point of view, I know that argument is not valid. Google Map does not have as much details as MapNTL provides about the City of Lagos. Also, MapNTL is providing another feature which gives it a local advantage  over Google Map.

Business Locator

Spatial Technologies Limited is inviting Nigerian Entrepreneurs having their offices in Lagos to advertise on the Interactive Map (I really wonder how much Google Map will charge for such service). That simply means, a total stranger can easily locate a business using the interactive map. That to me is a better idea than maintaining just a yellow page subscription.

Currently, there are several online business directories in Nigeria providing Yellow Page services. In my opinion, their services will become more effective if they collaborate with MapNTL to create more powerful directories. Imagine an online directory that provide information such as Business Address, Contact Phone Number, email address and Driving direction via an interactive map! That is what Spatial Technologies Limited is planning to offer Nigerian entrepreneurs.

The Goal of MapNTL Team

I chatted with Ireti Ajala, a UK based map expert who happens to be one of the brains behind the idea, he informed me that they already have over 50,000 businesses comprising banks, restaurants, hotels, fast food joints etc registered with MapNTL. I wanted a proof, so he gave me the name of one of the company whose several branches are mapped, FCMB, First City Monument Bank Plc. He claimed that all the branches of FCMB in Lagos are already keyed into MapNTL database.

Can MapNTL Locate FCMB Branches in Surulere?

I tried the tool by requesting for a branch of FCMB in the MainLand. I got a response that there is one situated on No. 43, Ojuelegba Road, Yaba and and another one at 33 Adeniran Ogunsanya Road, Surulere! How accurate is that result? Confirming the authenticity of the result was not difficult. I simply checked on FCMB portal where a tool FCMB ATM&Branch Locator is provided to locate the bank’s branches nationwide. FCMB portal confirmed the result as correct!

What I found really cool is that each FCMB branch is marked on MapNTL using FCMB distinctive corporate logo making it very easy for FCMB’s online customers to connect visually with each of the over 35 branches of FCMB shown on MapNTL – this is innovation at its best in the context of Nigeria. I also noticed that using the “Identify” button below the map window to click on some FCMB logos on the map revealed some very important information such as the address of branch, services and facilities available at each branch and some functional telephone numbers to call the branch.

This invariably means that wherever you are in Lagos, you can easily locate the nearest FCMB branch by using MapNTL. It is interesting to note that Several branches of UBA, Zenith, GTB, Oceanic, Bank PHB, Mr Biggs, Tantalizers, etc have also been mapped into MapNTL. Isn’t that cool.

That means, Spatial Technologies Limited is actually having a tool with great potential. Well during my chat with Ireti, he stated that their goal is to empower Nigerian consumers with the location advantage in making purchasing decisions. I love that vision.

My Verdict on MapNTL

Well, I’ll say thumbs up for MapNTL. However, I won’t be sincere if I failed to point out a few flaws that need to be corrected.

MapNTL User Interface

The current user interface provided by MapNTL makes it unattractive for potential users. I understand that the portal is a highly complicated dynamic website and should not be compared with simple websites such as Nigerian Entrepreneur which is more or less an online magazine.

Nonetheless, the interface should be made more user friendly. It should be optimized for all the major browsers. Optimizing for only Microsoft IE is not good enough. Firefox is the choice of many web users (yours sincerely inclusive).
Also, a professional graphic designer should add some little eye candy to the interface. The current graphic designs are not desirable. Remember, the portal is not meant for the geeks alone.
Finally, the interface should be optimized to adjust to user screen easily. Currently, it overflows.

Well, that is my humble opinion, I don’t know what the cost implication may be for making those amendments. I’m only making suggestion base on my own experience while using the interactive map.

Naija Brothers and Sisters, help Promote MapNTL!

Are you based in Lagos? When next you’re looking for a firm, check MapNTL first. It will save you time and money. If the company is not listed, tell the marketing department of such firm that they are giving the competitor an undue advantage. Despite the global economic crises, investing less than 5,000naira to beat the competition is still a good investment. (I know I’m beginning to sound like this is a sales copy. Hey, Ireti, we need to talk, I sure can do with some affiliate commission)

Why did I write this review about MapNTL?

The answer is simple, MapNTL is Made In Nigeria (Interactive Map and Business Locator) For Nigerians. So, I am happy to promote the service. I have always being and will continue to be Proudly Nigerian. If you use the tool and love it, drop a comment to encourage others. If you have a suggestion on how it can be improved upon, drop a comment, I will ensure it gets forwarded to Ireti. Cheers.

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Posted in Entrepreneur, Nigerian | 3 Comments »

Good People, Great Nation

Wednesday, March 18th, 2009

Nigeria: Good People, Great Nation

Ok, Nigeria is Re-branded, what next? Yesterday in Abuja, President Umaru Yar’Adua unveiled and launched the logo and slogan of the New Nigeria. The slogan is “Nigeria: Good People, Great Nation” while the logo is simply the word Nigeria with two letters modified. The first “i” is replaced with a tick having a dot on top of it and the last “i” has a small map of Nigeria in place of the usual dot.

Nigeria Good People Great Country

Nigeria Good People Great Country

(more…)

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Posted in Nigerian, Ramblings | 22 Comments »

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