2/19/2013

How To Start And Run An Online Business In Nigeria If You Have Money To Invest And Have No Time To Work



This is a guest post compiled by Mk Akan. 

If you want to start an online business in Nigeria then you should have already known that there are many online business models you can follow.

The basic thing to always  remember is that for any online business model ...you are required to sell something to success.


What you decide to sell could be a product or a service.

...and one of the easiest thing to sell is advertisement.

But to sell advertisement ...you need to have an online asset that has a lot of traffic.

This could be a website or a blog.

................but there is a problem.

Many people who have full time jobs and want to invest in online business have no time.

Because of this they make the mistake of doing nothing . They wait for when they will have time to start something.

But that’s a mistake...

A big one.

Here is what you should do if you want to start an online business and you have money to invest and don’t have time to do it.

...Hire Others To Do It For You.
Ya ...forget about trying to do everything yourself.
Pay someone or people to do them for you.

Here Is A Good Example Of What I Am Talking About.
Let’s say you want to build a website targeting the technology market. Let’s say you want to build a blog that targets owners of iPads  who want to learn how to maximally use their iPads. You intend to make money by reviewing and selling iPads and also make money by selling adverts on the blog.

That’s not all ...let’s make it more interesting.

Now, although you want to target the iPad market ...you don’t know jack about iPads...in fact you don’t even own an iPad.

So What Do You Do?

Here is what I would do.

Since I don’t really have the time but I have the money to invest ...I will just OUTSOURCE part or the whole work.

  1. I will get someone to create the blog for me (this includes buying the domain and web hosting. I could buy the domain name and web hosting before getting someone to create the site for me)
  2. I will get people to do keyword research for me ( this refers to words and phrases people search for in my target niche or market)
  3. I will pay people to write articles using my target keywords (I use Textbroker.com to outsource content writing)
  4. I could spend time to upload and publish the articles or still pay someone to update and publish the articles for me.
  5. I would start building an e-mail list of subscribers immediately using an e-mail marketing service like GetResponse (this is to own my own traffic)
  6. I would start promoting the site via paid traffic means and effective free traffic methods .This is I can also do by paying other experts to do for me.

Now you may be wondering to yourself ...why would someone spend all that money to build a website when the overall goal is to make money online?

Well, if you are asking that ...then you have gotten this online business thing all wrong.

You Need To Get Another Kind Of Mindset.

You see, online business is business...and in business you need money to start and run it . In business ,you need to make investments and expect returns.

In online business the same thing holds.

Let’s Do A Simple Calculation.

If you spend $10 on TextBroker.com to get a 900 word article that you publish on your site and this article has an advert on it. Then you have just created an asset right there.

(and don’t forget Robert Kiyosaki calls an asset something that brings money to your pocket)

Let’s see how this translates to online business or a single article.

Let’s assume the article gets 100 visits a month after 3 months of being publish on your site. And there is an advert on it.

Let’s assume the advert on the article makes $0.2 per click and every month out of 100 people , 4 people click the advert.

That translates to $0.8 a month . So in one year you would have made ...$9.6.That’s almost the sum spent in acquiring the article ...after that any other money you make from the article and the advert is pure profit.

And not only that , that article can bring in traffic that you can convert to subscribers.


Are you seeing this?

So imagine if you have 100 or 300 article on the site.

This is a true online business mindset.

And this hold true for any kind of online business model you want to use.

Finally ...this is my advice.

If you have money  to invest ...and you have no time and no knowledge of what to do ... pay people to build the asset for you.

Forget about doing it yourself.

Need more info about Online Business? Read: Online Business In Nigeria: What Does It Really Mean And What Does It Take To Start One

If you've got any contribution or question concerning this article, kindly relay them via comments.

Thank you.

This post was written by Mk Akan. He is a Nigerian blogger and entrepreneur . He runs www.NairaCow.com where he writes on internet marketing and online business for Nigerians


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8 comments:

  1. Lovely post... Can I re-blog this? :)

    YCFOnline.com

    ReplyDelete
    Replies
    1. Hi Olu,
      That is for jide to answer .

      Thanks,

      Delete
  2. Anonymous2/20/2013

    Brilliant post. You can also get someone at fiverr.com to write many articles for you for just $5.

    ReplyDelete
    Replies
    1. yes...there are many places you can outsource many things like writing ..odesk, Iwriter and even by advertising openly to people to work with you.

      Delete
  3. Great post, blogging is simply an additional income source. When investors start realizing it. They'd love to venture into business online. This article is good for the man who's got money to invest. Keep the good work MK.

    ReplyDelete
    Replies
    1. Thanks man...you need some money to invest if you want to go far with any online business.

      Delete
  4. investing in any kind of business involve a lot of risk. but when u come to online investing the risk become higher. which means it require a lot of mindset and analysts to be among the smiling faces in any investment.

    ReplyDelete
  5. This is a very good eye opener to those thinking blogging is a very hard task to accomplish
    When you don't have time spend on the blog you created then hire people to manage
    Like me, do have time to manage, but not really having time to write, and i do pay people to write quality post for me which has really been making my blog worth visiting
    Nice write-up bro.....

    ReplyDelete

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