Requirements to Start Online Business in Nigeria

Hope you are enjoying this course and learning some new things? Today I shall be telling you about the necessary things required before you can start doing online business in Nigeria.

At its most basic stage, online business can be done by anyone with minimal computer knowledge and access to the Internet. Whether you are a student, Corper, Jobless Graduate, Worker, Self Employed, Gainfully employed, Retired, Housewife, Nursing mother or even pregnant, you can engage in the business. In short, online business can be done either on full time or part time basis by anyone with a strong desire to succeed.

Before I mention what is needed to start, I must also warn you seriously that making money online is not easy at all and is not child’s play. Please don’t let anybody deceive you into thinking otherwise just because they want you to buy their e-book or software. Most times the gains of online business do not come immediately especially if you are new to it and you usually need to keep working and learning for up to one year, maybe more before you will start seeing great profits.

The good side of it is that once you gather enough experience and start making money, it will keep on increasing and increasing every month while your work load will keep decreasing and decreasing. Truly it is a beautiful thing and there is no other business like it in existence today.

To start online business you need to first LEARN how it is done. This is the main reason why many people don’t succeed at their first few attempts. They do not realise that there are certain things that they need to learn first before they can have any chance of success. The learning process will take you about 3 to 6 months if you register for our MOB course.

Online business is a large field of knowledge which is comprised of seven major areas. I like to call them the 7 branches of online business. Before you can make money online in Nigeria or anywhere else in the world, you need to have working knowledge of each of these seven fields which make up the online business body of knowledge. They are:

1. Website Design and hosting (free and paid)

2. Keyword research

3. Search Engine Optimization

4. Content creation and Copywriting

5. Internet Marketing and Advertising

6. Basic Web programming with basic Graphics

7. Capturing subscribers and building lists

Although it is not compulsory to become a master in all the seven, it will help you a great deal if you possess an understanding of these fields before making your first serious attempt at online business, if not it will take you a much longer time before you start getting regular monthly returns. The challenge for you therefore is to learn and practice these fields as much as you can to speed up your time to profits.

This is the reason why we place great emphasis on teaching these 7 areas in our Online M.O.B course. Another way to learn these 7 branches is to search for them on Google and learn from the websites that you find. There are a lot of free resources available on the internet that deal with the 7 branches so if you prefer to do it all on your own, Google search would be a good place to go to find free materials on them.

Things that You Need

Following is a list of the major tools you need to have and some more things that you need to know before you can start online business in Nigeria:

• An email address
• A USB Flash drive to store your files, software and downloads (if you do not have your own computer)
• A normal savings or current or corporate account with any Nigerian Bank
• A domiciliary account (you do not need to have this before you start, you will only need it when you are about to get paid. This can be up to 6 months or more after you start).
• You do not need paypal and you do not need liberty reserve.
• At least 5 to 15 hours every week. For the first three months, your whole time will be dedicated to reading the necessary books and practicing. When you have learnt all that you need to learn, you can then go ahead and begin in earnest. The more time you can put in, the faster you will cover what needs to be learned.
• If you are busy, you can try for one or two hours every day.
• If you chose to learn through my online Masters course, you will need to download a list of e-books and read them. E-books are electronic digital books that you download from the internet and read from a computer.
• Once you have downloaded the books, you can read them on a computer or print them out if you need hard copies.
• The books can be read with desktop computers, laptops, smartphones and tablets as long as they have the necessary software for reading PDF files. You do not need to be connected online to read the books.
• You will need to be online to practice what you read in the e-books. Between 5 to 20 hours of internet time per week is OK.
• If you do not have your own computer, you can store the materials and e-books in your flash so that you can access them from any computer.
• You can read the e-books from some phones but you cannot do the actual business through a phone. You need to use a computer for that. Either a laptop or desktop or netbook (mini-laptop). It can be your own or someone else’s own or a cafe.

How Much to Start Online Business in Nigeria

Some online businesses can be started with a free website and without any capital apart from internet costs, while some require a little startup capital. One common mistake many people venturing into online business make is that they fail to take into consideration the cost of regularly buying time at a cybercafe or paying for their internet service.

This is one of the ways that many of these so called gurus use in deceiving people. They will tell you that their method will not cost you anything to start and that you can make millions easily by spending little or nothing. But they fail to tell you that there will, of necessity, be certain costs associated with your internet access which you should budget for.

I must therefore warn you that unless you have completely free access to the Internet, you must take into consideration your browsing costs even though the actual business itself may not require money to start up. So while planning your budget, make sure that you will have access to funding for your browsing costs for as long as it takes before you start making money. In many cases this could be after many months.

Beginning from the next Lecture, we shall look at each of the three online businesses that we are currently doing, what it costs to start up and how soon you can start making money so keep a date with us.

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