how i wish a jobberman management is on this thread now, he/she would learn a lot...... Some one just mentioned one of my premium ideas we are working! Oh Lord i better finish dis thing quick, before they take it over.... Before i go, jobberman has really messed up, and i think it is because of the investment. They charge for everything now, last time i checked, it is N500 for you to search and apply for 5 jobs and upload cv,, very bad....

now that brings me to my question. I wanted to start a new thread for it, but why dont we all learn about it here?

My questions is::: (1.)when do you accept the offer of investors or when do you seek investment and why.

(2) is it possible you have and retain your post as the ceo and also the leader of every technical or whatever ideas that are to be implemented after you've gotten so much from investors (10million naira)

(3) why dont startups collect loans instead of investment. I mean make i borrow big money, and return am at the given time.

dansmog++:
now that brings me to my question. I wanted to start a new thread for it, but why dont we all learn about it here?

My questions is::: (1.)when do you accept the offer of investors or when do you seek investment and why.

(2) is it possible you have and retain your post as the ceo and also the leader of every technical or whatever ideas that are to be implemented after you've gotten so much from investors (10million naira)

(3) why dont startups collect loans instead of investment. I mean make i borrow big money, and return am at the given time.

Nice question and i will answer to the best of my knowledge.

1) This one is pretty obvious. You need an investor when you can see a great potential in your business or startup, and you don't have enough money to begin it or to take it to the next level (make it bigger). Then you need to source for funds with which to grow the business or move it in the right direction.

2) This all depends on whatever deal you have with your investors. Normally what people do is sell equity to the investors (like selling part of your business). The business is broken down into percentages and the person with the higher percentage owns the business. The rule of thumb here is that no matter how much an investor is offering, don't ever sell them a percentage that is higher than yours, once you do that the business is no longer yours. Also once you have investors, then they are part of the board that owns your business and a board normally takes decisions together. You being the CEO like i said depends on what you signed with your investors and for how long you remain the CEO depends on whatever clause is in the contract with the investors. How long you are also the CEO also depends on how much of the equity you have sold, if you have broken the equity into bits and say you have a number of investors, the investors can vote you out as CEO mostly when the company is not doing well.

3) Most companies that want to loan you money need a collateral and this is something a start-up usually does not have. But in an investment, you and your investors share the profit and the loss. But in a loan situation, your loss is nobodies concern

hoodboi:

Nice question and i will answer to the best of my knowledge.

ok... Thanks for that one.

What of nairaland. how much is seun making?

Are you guys serious? After reading the posts on this thread, I heard to be sure that the article wasn't from 2010-2011.

Haba, there are many Nigerian online businesses doing good.

Wakanow has turnover running into billions of Naira yearly and sorry, they are a web based.

Travelstart is another travel web business and they are doing good too although they came from SA.

Dealdey is doing pretty ok.

IrokoTV is big time and they are rumoured to be worth over 30 million dollars. Plus they received funding to the tune of 8 million dollars.

Nairaland sef dey try, even though I think he is making much less now than previously.

But how can you guys forget two big game changers that arrived in 2012- KONGA and JUMIA(Kasuwa).
I have no idea how much they do in sales, but its obvious with the amount they spend on advertising, they intend to do sales running into billions yearly.

There are a host of others making money. But the draw bag usually is that people have become accustomed to the free web. Almost everything is free online(Facebook, Google search, Email and a host of other services). To get people to pay for the services you are offering, you have to provide a compelling solution to an existing need such that it beats flat out the solution provided by offline businesses.

make money doing dis


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http://.com/2013/02/discover-how-i-make-over-70000-weekly.html?m=1


its still an online business

Has anyone ever considered drop shipping?

ECOMMERCE

I am building a business model on Enterprise Cloud Computing. A Cloud site where clients and businesses can store files in a server and use at will. But first, I want to start by re-selling ERP applications like SAP to Businesses (at a cheaper rate) on the Cloud through my site.

I'll be buying the servers from Dell by October this year(mehn, these machines are really expensive o). We intend to kick off Cloud operations by January 2014.

Please feel free to ask me questions about this. Also analyse what I've described and tell me the pitfalls to avoid.

.NET

IrokoTv is not worth 30 million dollars. They are not even profitable I.e revenue exceeding expenses ... only mainstream Nigeria focused Internet properties that are profitable and financially viable ie they can afford to hire staff and work out of office space are NairaLand, LindaIkeji and BellaNaija.

Getting investor money does not make you profitable, borrowing money to stay afloat does not make you profitable either. Thats why I SMH @ IrokoTv Guy buying range rover for himself and what not.

Internet is a business and works like any other, you have to be in for the long haul and be prepared to grind it out.

personally, I'd never advice anyone to get investors or VF if they can afford not to.

PapaBrowne: Are you guys serious? After reading the posts on this thread, I heard to be sure that the article wasn't from 2010-2011.

Haba, there are many Nigerian online businesses doing good.

Wakanow has turnover running into billions of Naira yearly and sorry, they are a web based.

Travelstart is another travel web business and they are doing good too although they came from SA.

Dealdey is doing pretty ok.

IrokoTV is big time and they are rumoured to be worth over 30 million dollars. Plus they received funding to the tune of 8 million dollars.

Nairaland sef dey try, even though I think he is making much less now than previously.

But how can you guys forget two big game changers that arrived in 2012- KONGA and JUMIA(Kasuwa).
I have no idea how much they do in sales, but its obvious with the amount they spend on advertising, they intend to do sales running into billions yearly.

There are a host of others making money. But the draw bag usually is that people have become accustomed to the free web. Almost everything is free online(Facebook, Google search, Email and a host of other services). To get people to pay for the services you are offering, you have to provide a compelling solution to an existing need such that it beats flat out the solution provided by offline businesses.

you are wasting both time and money . Cloud with the cloud based in Nigeria? Sorry, but you're setting yourself up for failure. google Drive, Box, the box, amazon cloud are too big too be beaten by a startup with one server, in epileptic power supply in Nigeria

.NET:
I am building a business model on Enterprise Cloud Computing. A Cloud site where clients and businesses can store files in a server and use at will. But first, I want to start by re-selling ERP applications like SAP to Businesses (at a cheaper rate) on the Cloud through my site.

I'll be buying the servers from Dell by October this year(mehn, these machines are really expensive o). We intend to kick off Cloud operations by January 2014.

Please feel free to ask me questions about this. Also analyse what I've described and tell me the pitfalls to avoid.

.NET

Uwadiegwu1:

Well, I know Fatguy do mention something like Dealfish who tried something like http://www.craigslist.com.ng and failed. I was telling/saying that the reasons they failed was because they did not have all features Craigslist US has and just like the clone called Craigslist Africa found in http://www.craigslist.com.ng.

I have been following site since it was founded last month January 2013. Below is a nice video i found online in case you need to know about it.

Why is everyone saying dealfish failed, i think they got bought over by olx, i dont see that as failure. i think its some form of partnership.

Veron23: ECOMMERCE

Yes, the problem with that is trust, fear of being scammed and lack of effective payment processors. Interswitch Nigeria has disappointed in that regard. Now most e-commerce stores offer payment on delivery.

Uwadiegwu1:

Well, we're yet to see Jobberman to stay long. Charging people to apply for jobs is very fishy and i can't do it no matter what. But charging emploters to post jobs on the site is a fair play and most websites do it here in the western World.

Fallguy - you might want to check Craigslist Africa @ http://www.Craigslist.com.ng
Like i told you that businesses like craigslist in Africa countries would be a good business. I guess nairalist will be crying now? As you know people have different things they need to sell like cars and they need a one community they can do all in one place. This is why i see a potential in businesses like online services. Lets watch http://www.Craigslist.com.ng and see what they are capable of in Africa business market. I wish them best of luck

Nope, am not sure this is the real craiglist, whoever has this should be stopped. It would make more sense you use another name. Stuffs like these are reasons why they run from Nigeria. All other African countries are on craiglist, the real craiglist except Nigeria and we all know why. The same reason for which Google trader is failing.

Chief06: you are wasting both time and money . Cloud with the cloud based in Nigeria? Sorry, but you're setting yourself up for failure. google Drive, Box, the box, amazon cloud are too big too be beaten by a startup with one server, in epileptic power supply in Nigeria

Well said. .NET must have been watching too many Sci fi blockbusters

The only online businesses that make good profit are those that sell virtual products. Here in Nigeria, we have not imbibed the culture of doing non-virtual transactions online. So, it will take some time for us to get there. Companies like Jumia are just doing ok but not fantastic. The best way to make money off the web is to offer free services like nairaland is doing and then charge companies for adverts just like facebook and google are doing to a greater extent.

Chief06: you are wasting both time and money . Cloud with the cloud based in Nigeria? Sorry, but you're setting yourself up for failure. google Drive, Box, the box, amazon cloud are too big too be beaten by a startup with one server, in epileptic power supply in Nigeria

ok. about the competition with Amazon and Google, I don't think that will be a problem for me o. I will offer something different (at least in the early stage) - ERP cloud Hosting. SAP seems to be the most popular in this Country, so I am talking with them on how this can be achieved.

On the issue of Power, we are talking Engineers to design and install good-quality Solar Panels with Inverters.

Please tell me other areas that I might fail. Thank you bros.

.NET

sarutobi:

Well said. .NET must have been watching too many Sci fi blockbusters

Chief06: you are wasting both time and money . Cloud with the cloud based in Nigeria? Sorry, but you're setting yourself up for failure. google Drive, Box, the box, amazon cloud are too big too be beaten by a startup with one server, in epileptic power supply in Nigeria

You wrong. Free clouds services are not supposed to be used in companies.Most companies will prefer a paid subscription which ensure that thier data is secured. Also for companies who wants to store their data offsite and not with popular vendors will want to go for his service

.NET:
I am building a business model on Enterprise Cloud Computing. A Cloud site where clients and businesses can store files in a server and use at will. But first, I want to start by re-selling ERP applications like SAP to Businesses (at a cheaper rate) on the Cloud through my site.

I'll be buying the servers from Dell by October this year(mehn, these machines are really expensive o). We intend to kick off Cloud operations by January 2014.

Please feel free to ask me questions about this. Also analyse what I've described and tell me the pitfalls to avoid.

.NET

Cloud its great as a ' 3D' storage server.. Though i'd think you should just rent a huge space from corporate cloud firms like google, and be a reseller.. Or something like that.. Also, rather than just store files, why not add something more dynamic, like a software solution with back end cloud support.. Like an, sql server on the cloud.. Pm me.. We could work out something

There is so much about trust and security issues in Nigeria which create some serious impediments for e Commerce.
By the way, what happened to gumtree.com.ng, the Nigerian version of gumtree. They didnt last up to a month.Any diea?

Again, any info on the operations of Jumia, dealdey and konga. Help us understand the sustainability of these business models in the Nigerian environment.
Anything about the financials for year 2011 or 2012?

I believe you really need to have a deep-pocket to succeed in the Nigerian business space.

.NET:
I am building a business model on Enterprise Cloud Computing. A Cloud site where clients and businesses can store files in a server and use at will. But first, I want to start by re-selling ERP applications like SAP to Businesses (at a cheaper rate) on the Cloud through my site.

I'll be buying the servers from Dell by October this year(mehn, these machines are really expensive o). We intend to kick off Cloud operations by January 2014.

Please feel free to ask me questions about this. Also analyse what I've described and tell me the pitfalls to avoid.

.NET

The only Pitfall i see is bandwidth issue and Naija mentality say why do i have to go for your service when Microsoft and Amazon cloud is there.

powerblaze:

Cloud its great as a ' 3D' storage server.. Though i'd think you should just rent a huge space from corporate cloud firms like google, and be a reseller.. Or something like that.. Also, rather than just store files, why not add something more dynamic, like a software solution with back end cloud support.. Like an, sql server on the cloud.. Pm me.. We could work out something

I feel that will be too expensive for Nigerian companies. My advise is if he has the money,he should build a data center.Reduce his price to that of other popular vendors. The downside is also electricity, bandwidth and also security.

Gooogle:


Nope, am not sure this is the real craiglist, whoever has this should be stop it. It would make more sense you use another name. Though looking at the spelling you can spot the difference but stuffs like these are reasons why they run from Nigeria. All other African countries are on craiglist except Nigeria and we all know why.

I feel the same way as you do. There is something fishy about it!

PapaBrowne: Are you guys serious? After reading the posts on this thread, I heard to be sure that the article wasn't from 2010-2011.

Haba, there are many Nigerian online businesses doing good.

Wakanow has turnover running into billions of Naira yearly and sorry, they are a web based.

Travelstart is another travel web business and they are doing good too although they came from SA.

Dealdey is doing pretty ok.

IrokoTV is big time and they are rumoured to be worth over 30 million dollars. Plus they received funding to the tune of 8 million dollars.

Nairaland sef dey try, even though I think he is making much less now than previously.

But how can you guys forget two big game changers that arrived in 2012- KONGA and JUMIA(Kasuwa).
I have no idea how much they do in sales, but its obvious with the amount they spend on advertising, they intend to do sales running into billions yearly.

There are a host of others making money. But the draw bag usually is that people have become accustomed to the free web. Almost everything is free online(Facebook, Google search, Email and a host of other services). To get people to pay for the services you are offering, you have to provide a compelling solution to an existing need such that it beats flat out the solution provided by offline businesses.

At least you claim it's a rumour because I don't know what criteria was used in valuation. Anybody can claim anything until potential investors or share holders ask them to open the books.

How many people come to the site? How many of those are buying stuff or using the service? How much ad revenue is the site generating? What is potential future revenue stream? what assets do they have etc. You need this type of info before calculating valuation.

The web is a realm of infinite opportunities.

Sky-walker:


I feel that will be too expensive for Nigerian companies. My advise is if he has the money,he should build a data center.Reduce his price to that of other popular vendors. The downside is also electricity, bandwidth and also security.

Acknowledged, but then again, liasing as a reseller for amazon, then setting up a software solution with of course a well thought out purpose.. I dont think that'll be too expensive, especially when the companies know their data is safe in the cloud..

[

donofdons: [size=18pt]contact me on princeadamo@aol.com if you have an online biz you need to do but have some limitations or need help or partnership[/size]

But bros, if you are like every typical angel investor or venture capitalist, please do us a favor by making additional info available for us like link etc so we can understand before sending mails or what do you think.

Sky-walker:


The only Pitfall i see is bandwidth issue and Naija mentality say why do i have to go for your service when Microsoft and Amazon cloud is there.

I'm collaborating with SAP & maybe Microsoft. Based on their policies, they don't sell ERP directly to users. Instead, they refer the end-user to their agents (which i can become very soon). I am allowed to charge as much as I deem fit. I just pay a certain amount for each client. Plus, they also give me a certain percentage of the amount I remit to them if I reach an agreed milestone in the number of clients and Revenue generated for them.

On the Bandwidth issue, we intend to get two channels of 20mbps Fibre connection. Fortunately, the office we're taking soon is close to the POP of a good, reliable Fibre Internet company.

powerblaze:

Cloud its great as a ' 3D' storage server.. Though i'd think you should just rent a huge space from corporate cloud firms like google, and be a reseller.. Or something like that.. Also, rather than just store files, why not add something more dynamic, like a software solution with back end cloud support.. Like an, sql server on the cloud.. Pm me.. We could work out something

Bro, that's where I think the ERP thing comes in. The application is already developed. Don't have to crack my head for that. All I need to do is sell to the people who need it.

.NET

More questions and criticisms are welcome. I wanna be sure I've plugged all the holes, before I venture into this thing.