THINGS TO CONSIDER WHEN BUILDING AN ONLINE BUSINESS IN NIGERIA
Limitations of Online Business In Nigeria:
- Internet access and cost Accessibility
- Purchasing power for courses
- African mentality about online learning
- Quality of tutors.
And so many more… But let’s do a breakdown and see if it is an idea that will succeed in Africa because most folks just have an Idea and they think about the solution and they’re all set… Here’s what I mean.
An average person wakes up one day and has this idea to create an online platform that people will be used for learning. So when you ask such person.
Why are you creating an online platform, the answer is that, what is being taught in the University is not quality enough to equip the youths for the labor force.
So I want to create a platform which will be one of most lucrative online business in Nigeria, where people would learn from a professional (actually that is my goal) just like udemy, cousera, Lynda, skillshare etc
Is it a good idea? Yes, very good idea! Is it a good solution? Yes, very good solution.. Can you create a business out of this?
Now that’s the question these “entrepreneurs” need to ask… A business is something that runs and makes profit and tries not to go bankrupt
Now, I have seen so many people come up with this idea of how to start a business in Nigeria and they say it’s just a month old or few weeks old and the next thing, they are everywhere seeking funding..
Use this example for whatever business you want to start… You need to outline the problems… State them out..
Udemy worked quite well in the U S but can it twice successfully in Africa? Bros, nope, the business model has to change… Why?
I’ve listed the problems… We have internet accessibility issue and expenses… How do you solve that? You don’t solve that on the way, you should have the solution before you start…
If you’re not ready to chill to solve the major and key problems, don’t start.. Please don’t. I spent over a year figuring how to solve the internet issue.
If the platform is ready, how will you address those who cannot access the internet in villages, those corpers posted to villages that should be major customers would be cut off.
Purchasing power, Africans have low purchase power… Ordinary Netflix monthly subscription we have issues that’s why people prefer using YouTube, they cannot afford 3600 for a course.
Remember it’s not just one course, how do you reduce it? If you reduce it, would it profit the instructors? You didn’t plan all this, you just have a solution and you are seeking funding, hahaha SMH.
Africans mentality about online learning, what are the available list of online business in Nigeria?
oh how do you address this? Can you re-orientate them? What strategy would you use? And lots and lots of things to test
So can you see that a solution can sometimes not be a business. You need to find a way to bring out a business from the solution. Except you’re a NGO
How do you solve us this problem?
1. By research and receiving feedback’s… Ask the target audience through any means physically, spiritually, online etc
2. By testing… This is why you need to start small and I prefer this method. It gives accurate data and you are sure not to miss.
If you’re not ready to spend money and time on research, please sit down except you want to play politics or your business is found on your influence, it’s your name that will promote it. If you don’t have a name or politics, then make researches;
Who among the youths are so desperate to learn skills (what category). What category can afford a certain amount, what category can comfortably subscribe, Now what are their numbers, are they few, are they much, how have they been solving the skill issue personally?
You must research all these either online or offline. When I was making my research, I picked nysc to test, how many NYSC are brought in yearly, how many percentage are likely look for online businesses i can do in Nigeria? how desperate?
Wait a minute,
Now lets continue……
I reached out to NYSC students physically, got a lot of feedback, a NYSC friend (Jeh) helped me write down questions I wanted to ask them. She then helped interview lots of her fellow Corpers and sent feedback That was after I had made findings online..
Then I tested for undergraduates via google form, the next is physical interview and stuff like that for now, I will stop here. However, you can also read 10 common habits of successful people
Dear entrepreneur, a solution to a problem is not directly a business so stop wasting time. Figure out how to start an online business as the solution but also add value to people lives
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