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How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) - Business (2) - Nairaland

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Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 12:56pm On May 05, 2015
veegirl:
This is a nice one iMerchant. You're helping more people than you can imagine.

My question is what courier service do you use personally and what do you have to say about their services?

Are they affordable?
Do they do cash on delivery?
How fast do they remit cash once an item is delivered?
How fast do they deliver?
How well do they handle your goods?

Please throw in more light for us.

Thanks and God bless you.

I handle all delivery on buymart.com.ng because all orders on the website are only lagos based.

We service our customers outside lagos using marketplace like Konga and Jumia. If you are outside lagos, we direct you to buy on Konga or Jumia.

What is required of us as merchant is just to package the order, go to K-Express drop-off centre to deliver the order for onward shipment to customer's doorstep (Konga). If it is Jumia, you just package the order and wait for their dispatch man to come pick up the order for onward delivery.

There are other small courier companies you can use but they all charge extra for Cash on Delivery orders. They pay you as arranged with them. Some pay you as they delivered, other after a week.

Thanks

1 Like

Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by Nobody: 12:59pm On May 05, 2015
iMerchant:


I handle all delivery on buymart.com.ng because all orders on the website are only lagos based.

We service our customers outside lagos using marketplace like Konga and Jumia. If you are outside lagos, we direct you to buy on Konga or Jumia.

What is required of us as merchant is just to package the order, go to K-Express drop-off centre to deliver the order for onward shipment to customer's doorstep (Konga). If it is Jumia, you just package the order and wait for their dispatch man to come pick up the order for onward delivery.

There are other small courier companies you can use but they all charge extra for Cash on Delivery orders. They pay you as arranged with them. Some pay you as they delivered, other after a week.

Thanks

Thanks. You've answered well.
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 1:00pm On May 05, 2015
osatonia:
Ok. I'm on konga but the thing is they don't have a drop off center here in asaba. The closest to me is warri and benin

Look for Chisco Terminal, DHL office or UPS office close to you.

According to Konga, all orders delivered by other couriers are considered self-fulfilled.

Also K-Express only accept orders for nationwide delivery in Lagos.
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 1:16pm On May 05, 2015
PRODUCT RETURNS

I have never see any online store owner who likes his/her customers to return or reject their order at the point of delivery.

Product returns often add up to be an unexpected and hefty expense for online store owner. Returns increase your cost of doing business and also lead to loss of revenue and sales. Returns are expected when customers don’t get their order fast or just a Nigeria thing. (Buyers just testing whether you’re real or not).

As a new comer or experienced online store owner, you need to know that product returns is part of the business. Order dispatched aren’t successful until customer pays and accept the order. So when next you receive an order, don’t celebrate yet, wait a bit to see and confirm that customer actually accept the order upon delivery.

Please find below my thoughts about how you can reduce the rate of product returns in your online store, increase customer satisfaction and build trust in customer leading to lifelong customer loyalty.

1. Cash On Delivery – The best way to reduce product returns is to stop cash on delivery. Most customer who choose cash on delivery are usually window shopper and unserious buyer. They are however some serious buyers who choose this means of payment because of trust issues but note that you will probably get high rate of returns on your cash on delivery orders.

2. Optimize your Product Descriptions – Do not use manufacturer written descriptions to sell a product on your website. That is bad for business and show you are a lazy seller. You should describe the item in a customer/user-friendly way. Let your customers practically feel the product through the screen via your descriptions. Be clear about the size, material, weight etc. If you sell fashion items like clothing, have a model wear your product and make sure to share his/her height, weight and other dimensions so that your customers can understand how the product will fit them.

3. Product Pictures – I will do a whole article/post on this later but please note that what sell products online is the image. If the product is great but the image is poor nobody will buy it. The visual display of your product speaks volumes but don’t mislead your customers with image. Make sure you don’t overly edit or inaccurately represent your product. If possible, allow your customers to zoom into pictures, show a 360 degree image view etc.

4. Product Review – If you have ever shop online before you will understand the importance of product reviews. Online stores like Amazon, Zappos, AliExpress and DHgate do not play with product reviews. As a buyer on this platforms the first thing you do before buying anything is to read what previous buyer’s experience was like with the product you want to buy. Too much bad reviews means do not buy and too much good reviews means be very careful before you click the pay button because you might be walking into a trap. Customer reviews are extremely valuable for anyone who purchase online. It gives an honest opinion of a product and customers may give answers to questions that you didn’t. Genuine customer reviews also serves as social proof for your online store.

5. Accessible Customer Service – Make your contacts visible on your website. Your customers should be able to get in touch with you immediately during their check out process. You should offer a form of contact whether it be a text chat, phone number, e-mail address or online chat. This will allow customers to ask questions before they make the decision to buy.

6. FAQs – Please if you have an online store make sure you have an FAQ page. It is extremely important to answer common asked questions and inquiries on your website. FAQ save you some headache and actually reduce the amount of questions a customer may have about your products or website.

7. Fast Delivery – Your buyers need their product fast, please deliver it on time or risk outright rejection or product return. Customer satisfaction plays a major role in the reason for product returns. If you deliver your customer orders on time with tracking capabilities, you’ll reduce disappointment not related to product received. Never ever let your customers wait too long to receive their order.

8. Check Orders Before Delivery – A lot of online store owners and their staffs sometimes miss this vital point. By checking your customers orders for fault, damages and accuracy before delivery reduce product returns. Don’t dispatch a brown dress to a customer who order for a black. Make sure the dress are not wrinkled. Most returns are largely due to internal mistakes.

9. Product Packaging – The simple truth is “packaging makes a difference” in eCommerce business. Have you ever received any order from Konga or Jumia without packaging. If you’re getting a lot of returns due to damaged products or unsatisfied customers, it may be a good time to review your product packaging. Reevaluate your packaging to see if there is anything you can do to make the order received more attractive. Packaging speaks volumes about your online store. If you need a lesson on packaging, please ask your female (beautiful & gorgeous) friends to teach you (#Smiles).

10. Understand Returns – You need to investigate and develop a system for product returns. If a product is being constantly returned it may be a good time to revamp the product’s descriptions, packaging, pricing or photos to accurately portray the item. If returns continue, please remove it from your inventory. You can also prevent future returns for any product by taking the time to find out why customers didn’t like it or why they made the mistake or ordering the wrong size, colour, material etc.

Conclusion

You can minimize product returns but you can’t eliminate it. Customers are funny and can return their order for any reason just know that returns is part of the business.

Yes, online store owners hate returns. But that doesn’t mean that product returns can’t work for you. When Returns happen it can be an enormous drain on revenue but if returns are actively managed they become a tool to boost sales and maximize profit. As an online store owner you can steer your customers towards the optimal rate of returns by understanding what factors drive returns and adjust your marketing accordingly.

Source - http://www.realmoneyng.com/product-returns/

3 Likes 2 Shares

Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 3:46pm On May 05, 2015
veegirl:


Thanks. You've answered well.

You are Welcome
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by nyabingi(m): 6:23am On May 06, 2015
This is splendid, the first topic on NL where a real merchant on naija market place bears it all.
Im a Konga and Keymu merchant, I must confess that these market places have given entrepreneurs a platform to excel but in recent times Konga has become a nightmare with the introduction of their self fulfil policy, my store on Konga is currently on Vacation until they sort themselves, I have been dealing with Keymu for now, so that is why having my own personal store would be the best, please enlighten more on the easiest way I can set up my online store, thanks.
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 7:17am On May 06, 2015
nyabingi:
This is splendid, the first topic on NL where a real merchant on naija market place bears it all.
Im a Konga and Keymu merchant, I must confess that these market places have given entrepreneurs a platform to excel but in recent times Konga has become a nightmare with the introduction of their self fulfil policy, my store on Konga is currently on Vacation until they sort themselves, I have been dealing with Keymu for now, so that is why having my own personal store would be the best, please enlighten more on the easiest way I can set up my online store, thanks.

My store too was seriously affected. My store was blank for more than a week. Lost some dollars in Facebook ads and have to suspend konga ads that was supposed to go live because people can't buy from my storefront on Konga. I have to be on Konga case till they resolve the issue and things are back to normal.


Thank God BuyMart Store wasn't only selling on marketplace. Lagos orders were fulfilled outside marketplace. That's why I wrote the article about only selling on marketplace is like gambling.
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 9:20am On May 07, 2015
HOW TO RUN A SUCCESSFUL ONLINE STORE IN NIGERIA

There are no quick-fix advice for success in ecommerce because different ecommerce businesses face different challenges. The challenges of Hotels.ng is different from Kaymu. The challenges facing Konga is totally different from JobberMan. HelloFoods challenges are different from WakaNow.

However, successful ecommerce businesses in Nigeria have some common features which are listed below:

Distinguish Your Online Store
Other online stores want your customers. They sell products like yours. They offer the lowest price. There products have different features. They use different technology. They offer free delivery. They offer free installations. They sell exclusive merchandise. They have an effective customer service. They want your business. But they are not your competitors. Your only competition is customer ignorance.

Yes! Your only competition is that the customer does not yet know or believe in your value. The customer is ignorant as to why your solution is best. Your job is to educate the customer, to turn the customer’s ignorance into understanding and into acceptance. You have to determine what the customer needs and knows and does not know. Your job is to uncover any customer mind-set or misconception. Your job is to ask questions that when answered help customer to see your position and lead you to develop your unique selling point.

Your job is to focus on the customer and not to sell everything to everybody Make sure that your online store stands for something specific in the minds of consumers.

Use The Right Technology
There are several robust software and hosting plans available to use these days to build an effective and functional online store. Because other online stores use Magento or PrestaShop to build their site doesn’t mean that is the best solutions to use for your online store. Your goal should be getting technology right and using it to achieve your online store ends.

Don’t Frustrate Customers
You can’t help customers until you know what they needs. You can’t provide a solution until you know the problem to solve. Understanding what a customer needs to improve their situations is crucial to ultimately helping them. Don’t complicate their purchase decision. Make it simple to buy on your online store, make payment easy, and simplify your process.

If you frustrate customers, they will abandon their shopping carts before paying and you have lost them forever.

Manage Your Supply Chain
Finding great suppliers is hugely important when it comes to running a successful online store in Nigeria. You can have the best niche market in the world and the slickest, highest-converting online store but if you can’t source your product – or if your suppliers don’t have their stuff together – success will be very difficult to achieve.

Inefficiencies in your supply chain management will affect your order fulfilment which will be felt by customer. Damaged, delayed, incorrect or missing merchandise will ensure that the customer never returns to your online store again.

The most impressive website design, and shopping cart conversion strategies, will amount to nothing if your supply chain is managed badly.

Reduce Your Cost Not Price
Many online store as gone bankrupt because they are tempted to cut price in order to be competitive. Many online store are not sustainable because there are selling more at reduce profit.

Never get into price war with your competitors but price your product for what it is worth. If your product provides more value than similar product, you can charge a higher price. Many online store owners cut their price at the slightest pressure from competitors.

Good customers don’t mind paying a fair price to get the extra value you offer. Customers that don’t value your values are not worth the pursuit. If your product is priced to fairly reflect the value, stick with your price.

Be Visible to your Target Customers
To be found by your target customers online you must be visible. If your online store want to generate a significant amount of traffic, it needs to be listed on major search engines and be ranked high up enough to be seen because millions of Nigerians use search engines to find solutions to their problems daily. Search engines are web-based program which index the web and allow people to find what they are looking for.

Search are goals oriented because people use search engines to find the things they want and need. Your goal is to drive targeted traffic that will convert to sales by identifying your target customers’ intents via keyword or search terms.

Be Social Responsible
Social media epitomises what the web is about: collaboration and the sharing of content, ideas and information. Social media is behind the viral explosion of content available on the internet because various channels allows anyone with an internet connection to be able to create and share content easily and for free.

Social media allows an online store owner to create, connect, support, listen and share useful contents with their targeted customers.

Source - http://www.realmoneyng.com/run-a-successful-online-store-in-nigeria/

3 Likes

Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by afeez20(m): 2:47pm On May 08, 2015
a very big thank you to imerchant.this is really insightful
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 5:52pm On May 08, 2015
afeez20:
a very big thank you to imerchant.this is really insightful

All the glory belongs to God.
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 9:52am On May 09, 2015
Lobatan.......


People don dey use my write-up here to sell ebooks and video tutorials.

For the avoidance of doubt, please note the following:

1. I do not sell any e-books.
2. I do not sell any Video Tutorials.
3. I do not sell any program or seminars.
4. I do not endorse anyone selling any of the above.
5. Using my write-up to sell your products is violation of my intellectual property.
6. Using my write-up to upsell your product without my permission or seeking my permission is total violation of my intellectual property.
7. All questions will be answered on this thread or my blog.


Please desist from violating people's intellectual property. Provide value, share useful content and if you must use other people article to sell your product, please seek their express permission before using their work.

God Bless.

2 Likes

Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 12:05am On May 11, 2015
My sincere apologies for not updating this thread as frequent as I used to do.

Abeg, no vex, na customer demands, business expansion, office work and Lagos traffic.


Until the next update, please if you have any questions or need any clarification, please post it here on the thread.

The benefits of having it here is to add value to the community of user who visit this thread.

Please join the conversation.

I can't possibly answer all questions but I will try my best. Also you might be lucky to have one of the ogas @ the top abi na gurus in house to answer your questions.

Also, please share your experience here. Share your frustrations about selling online, the solutions you discovered, the problems you encounter and your success stories.

Your story can motivate others to start.

#YourStoryMatters

1 Like

Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 12:47pm On May 14, 2015
No update in a week.

Na wa for the op ooooo?

Abeg sorry ooooo, Na good things dey happen oooo.

Konga is currently doing a promo (Giving customers/buyers coupon of NGN 2,000 & NGN 5,000 to shop). This have led to jump in sales and we have to fulfill orders.

I like being busy fulfilling orders grin cheesy cool

I am also currently re-building the blog (90% done), building something to increase sales (Classified for now. I will share the results with you. The full details.) and also have to tweak some things on buymart.com.ng. All of this are happening at once.

I will like to have your feedback/suggestions on the new changes on realmoneyng.com (if you have the time).

Thanks
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by businessplace(m): 8:06pm On May 16, 2015
Hello imerchant
Please do you have guidelines as to how to sell wrist watches on konga shq? I uploaded some of my wristwatches but they were all rejected saying "Products with this brand have to undergo our verification process before approval"
Do you have any suggestions as to what i can do? its very urgent please.
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 8:24pm On May 16, 2015
businessplace:
Hello imerchant
Please do you have guidelines as to how to sell wrist watches on konga shq? I uploaded some of my wristwatches but they were all rejected saying "Products with this brand have to undergo our verification process before approval"
Do you have any suggestions as to what i can do? its very urgent please.

See a competitor asking me questions oooo, don't you know I sell wristwatches too on konga. You wan chase me out of market abi.
grin
businessplace:
Hello imerchant
Please do you have guidelines as to how to sell wrist watches on konga shq? I uploaded some of my wristwatches but they were all rejected saying "Products with this brand have to undergo our verification process before approval"
Do you have any suggestions as to what i can do? its very urgent please.

See a competitor asking me questions oooo, don't you know I sell wristwatches too on konga. You wan chase me out of market abi.

Jokes apart. What brand of wristwatche do you sell? Are they original. Do you upload quality image?

All product or items listed on konga must be reviewed and approved by Konga before going live on the site. That's what happen on all marketplace.

Check the "Under Review" tab on SellerHQ to see your product. Usually products are approved within 48 hours on Konga.
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by businessplace(m): 8:33pm On May 16, 2015
iMerchant:


See a competitor asking me questions oooo, don't you know I sell wristwatches too on konga. You wan chase me out of market abi.
grin

See a competitor asking me questions oooo, don't you know I sell wristwatches too on konga. You wan chase me out of market abi.

Jokes apart. What brand of wristwatche do you sell? Are they original. Do you upload quality image?

All product or items listed on konga must be reviewed and approved by Konga before going live on the site. That's what happen on all marketplace.

Check the "Under Review" tab on SellerHQ to see your product. Usually products are approved within 48 hours on Konga.



lol...i no fit pursue u na. u be my oga.
They were under review but later rejected. Reason: Products with this brand have to undergo our verification process before approval.
I sell different brands but they are not the real ones from the manufacturers. Those ones are way too expensive. over 25k. The images are quality. i'm sure that wasnt the problem.
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 8:59pm On May 16, 2015
[quote author=businessplace post=33806236]

lol...i no fit pursue u na. u be my oga.
They were under review but later rejected. Reason: Products with this brand have to undergo our verification process before approval.
I sell different brands but they are not the real ones from the manufacturers. Those ones are way too expensive. over 25k. The images are quality. i'm sure that wasnt the problem. [/quoone

All products listed have to be original. Konga have a reputation to protect. If you want to sell Rolex, Michael Kors, Armani, Omega or any well established brands make sure it is original.


Nigeria love quality and original products. Although they something don't want to pay the price to get the value but they want original.

When buyers buy from a merchant on Konga, what the buyers know is Konga not the merchant. if something goes wrong, they hold Konga responsible for damages not the merchant.

Try and source the original product. No matter how expensive it is, if you must sell anything, make it the genuine one.
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by kennyman20(m): 6:53am On May 17, 2015
osatonia:
Ok. I'm on konga but the thing is they don't have a drop off center here in asaba. The closest to me is warri and benin

check out this thread...

https://www.nairaland.com/2117798/available-handle-konga-drop-off
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by businessplace(m): 7:30am On May 17, 2015
[quote author=iMerchant post=33806902][/quote]

ok. Thanks.
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 8:23am On May 17, 2015
businessplace:


ok. Thanks.

You're welcome Boss.

Don't be discouraged because Konga reject your product. You can use other channels to sell your product.

Start a Facebook page and do Facebook ads to promote your product.

You also try Kaymu.

You can list it on OLX (Although I will not recommend this because of OLX reputation with scandals)

You can also use Nairaland.


The thing is you can always sell your product anywhere online but please let people know they are not getting the real thing. Don't let them think they are getting a bargain for the original.

When you're honest with your customers or buyers, you build confidence and they start trusting you.

Nigeria is a large place with big potential for any product. Just find your market and sell to them. Go to where they are and market your product.


Happy Selling.

1 Like

Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by businessplace(m): 8:20pm On May 17, 2015
iMerchant:


You're welcome Boss.

Don't be discouraged because Konga reject your product. You can use other channels to sell your product.

Start a Facebook page and do Facebook ads to promote your product.

You also try Kaymu.

You can list it on OLX (Although I will not recommend this because of OLX reputation with scandals)

You can also use Nairaland.


The thing is you can always sell your product anywhere online but please let people know they are not getting the real thing. Don't let them think they are getting a bargain for the original.

When you're honest with your customers or buyers, you build confidence and they start trusting you.

Nigeria is a large place with big potential for any product. Just find your market and sell to them. Go to where they are and market your product.


Happy Selling.

Thanks for the words of encouragement. What is your website? I could patronize you. grin
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 9:14pm On May 17, 2015
businessplace:


Thanks for the words of encouragement. What is your website? I could patronize you. grin

My website is at my signature.

#FoundOnBuyMart
www.buymart.com.ng

#FoundOnKonga
Konga.com/buymart

#FoundOnFacebook
www.facebook.com/buymartng
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by businessplace(m): 9:50pm On May 17, 2015
iMerchant:


My website is at my signature.

#FoundOnBuyMart
www.buymart.com.ng

#FoundOnKonga
Konga.com/buymart

#FoundOnFacebook
www.facebook.com/buymartng

Ok. Noted. Will definitely patronize you someday.
Cheers!
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 9:17am On May 18, 2015
businessplace:


Ok. Noted. Will definitely patronize you someday.
Cheers!

grin cheesy
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by osatonia: 12:22pm On May 18, 2015
:Hi Guru iMerchant
Thanks for answering my last question I appreciate. Pls I want to ask another no vex. On my facebook page I have a lot of indias liking my page and I don't like that.
Pls how can I delete them or stop them frm liking. Not like they are buyers o
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 2:50pm On May 18, 2015
osatonia:
:Hi Guru iMerchant
Thanks for answering my last question I appreciate. Pls I want to ask another no vex. On my facebook page I have a lot of indias liking my page and I don't like that.
Pls how can I delete them or stop them frm liking. Not like they are buyers o

Guru ke, Am just a learner ooooo.

To answer your question, Boss.

Are you currently running facebook ads.

Do you use any softwares to get page likes on facebook.

Do you localized your facebook page.

Thanks
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by Svelteb(f): 4:05pm On May 18, 2015
Nice 1 op, i think it'll b nice to follow the thread
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by osatonia: 4:47pm On May 18, 2015
iMerchant:


Guru ke, Am just a learner ooooo.

To answer your question, Boss.

Are you currently running facebook ads.

Do you use any softwares to get page likes on facebook.

Do you localized your facebook page.

Thanks
No I haven't done any ads yet and I'm not using any softwares
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 6:48pm On May 18, 2015
osatonia:

No I haven't done any ads yet and I'm not using any softwares

Okay.

Maybe you should check your page setting.

I have not really experience it before, so I couldn't say for sure what could be causing it.

Check your page settings.

Have friends like your page.

Post relevant content.
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 6:49pm On May 18, 2015
Svelteb:
Nice 1 op, i think it'll b nice to follow the thread

Thanks and Welcome to the thread.
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 11:57am On May 24, 2015
Its been a while I update this thread.

Please accept my apologies.

I am currently cooking a delicious meal in the kitchen. Once it is ready, I will drop it here on the table so you can devour the meal and have more energy to carry on.

Stay Tuned.
Re: How To Build A Profitable Online Store in Nigeria (My Story with BuyMart.com.ng) by iMerchant: 7:00pm On May 24, 2015
Before You Quit Your Full Time Job


Many people aren't happy with their full time job and will like to start a business. They have different reasons for disliking their Day Job.

Some people dislike their job because:
1. The salary is too small
2. They aren't promoted.
3. Expenses are growing at geometric rate whereas their income grow at arithmetic rate.

If you have a full time job looking to go solo, you need a very strong reason to quit your job. Starting a business and sticking with the business is not an easy decision.

I have seen people start businesses, they fail and immediately dust their resume, go back to look for jobs. Nothing is wrong with failing in business but such people didn't have a strong reason to quit their full time before starting the business.

You need determination, gut and a very strong (STRONGER) reason to become a successful entrepreneur. Don't believe the hype and quit your full time jobs because of the following filmsy reasons:

1. You Need to be Your Own BOSS: Don't quit your full time job because of this hype. Being your own boss is not a very good reason to quit your job and start a business. When you start your business, you have plenty bosses that hold you accountable.

Business people have several Ogas at the top that they answer to. As a business man/woman, you answer to your:

1. Customers
2. Creditors
3. Investors
4. Regulatory Bodies.
5. Landlord or Shop Owner.
6. The Tax Man.
7. Utilities Bills - PHCN, fuel, telephone etc.

So if you want to quit your job because of your boss, just remember that starting a business isn't the answer.

2. Your Don't Like or Want to Work Long Hours - Please stay at your full time job if you're lazy and don't want to work long hours. As an entrepreneur you will work longer than your employees just like your present employer is doing. Entrepreneurs work permanently. They work longer works.

3. You want to make more money - Hahahahahahahahaha #Smiles. If this is your motive I suggest you hold on tight (very tight) to your full time job. Entrepreneurs are broke financially. Don't expect money from your business immediately, infact my friend, you need to be extremely careful about spending as you no longer have a guaranteed pay check at the end of the month.

When you start your business, you have to immediately reduce your personal expenses. You need to grow your financial intelligence and be very smart with money. No one will pay you salary if you fail at your business.

Entrepreneurs increase their living standards after their business grow so my dear friend, don't start a business because you need or want to make more money quickly.

4. You're the Most Valuable Employee - Some people start business because they think their present employer is taking undue advantage of them.

Entrepreneurs that are successful and who are exceptionally good in business aren't so because of what they know but because of their insatiable need to know more. The major problem with most failing businesses is not that their owners don't know enough about finance, marketing, management, operations and administration-they do, but those things are easy enough to learn. They fail because such business owners spend their time, resources and energy defending what they think they know.

5. Your business is a reflection of you: Yes Boss, your business is nothing more than a distinct reflection of who you are.

If your thinking is sloppy, your business will be sloppy. If you're disorganised, your business will be disorganised. If you're greedy, your employees will be greedy, giving you less of themselves and always asking for more. If your information about what needs to be done in your business is limited, your business will reflect that limitations.

Therefore, if your business is to change and be successful, you need and must change first.

Being the most valued employee with limited knowledge will not translate to successful business.

Conclusion

You will loss money - Business is about profit and loss. You win some battles and loss some battles. Entrepreneurs loss money. Every decision you make or made as an entrepreneur have financial implications.

Don't just quit your job to start a business because there is a huge difference between an ordinary man (employee) and a warrior (entrepreneur). A warrior takes everything as a challenge while an ordinary man takes everything either as a blessing or a curse.

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