Before explaining why more people are failing in online business in Nigeria, permit me to digress a bit.
Few years ago, Bill Gates, founder of Microsoft Corporation predicted that the internet would produce many millionaires. Since then, everyday and everywhere, new internet opportunities keep emerging making people rich beyond their expectations.
There are cases of individuals becoming extremely profitable within six months of starting an online business. So, why is it that many Nigerians fail woefully in this lucrative business?
From my experience and observation, here are five reasons why more people are failing in online business in Nigeria: They expect to get rich quickly with little or no effort: Some Nigerians that are searching the internet for online opportunities usually fall to the hype of many websites.
These sites woo them to buy their packages that will show them how to make millions in few days with little effort.
My friend, the internet does not work that way. It will take time to learn how to market on the internet before you start making money.
You must have the right attitude.
Most Nigerians lack knowledge of how the internet works: They design a fanciful traditional form of website selling their business.
The truth is: people don’t go to the internet to search for you or your business. They go to the internet to search for information to solve a specific problem.
Using hosting companies that lack complete necessary marketing tools: A good hosting company should provide you all the necessary marketing tools at a reasonable cost.
The tools include tracking and monthly performance of your site, research tools for finding potential keywords, search engine submissions, autoresponder, website backups, domain name registration, fast and reliable hosting.
It has been observed that most people doing online business in Nigeria only get few of these tools from their hosting company.
People lack motivation and determination: It has been observed that most Nigerians lack the motivation and determination to succeed in the business.
They do not persist in the business long enough till they achieve the desired success.
Lack of proper training: Many Nigerians doing online business do not take time to learn how to market on the internet.
What they don’t know is that there is a huge difference in marketing online and offline.
The marketing strategy that works in the real world doesn't work on the internet.
In the real world people find you base on your business location. But on the internet people are searching for information.
The bottom line is that you use different marketing strategy to succeed on the internet.
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Olabode Oruku is the chief executive officer of Oruku Consultancy Services. The company offers proven online and offline marketing training to small business owners. You can reach me on mobile phone 08033205456 or Click Here to Send Mail Click here for details of our next internet marketing training