As you are aspiring to start your online or offline business, it is important you read this article. i was so disappointed when i read a research carried out by an international U.S based organization (S.B.A small business administration) on the percentage of online business that fails. they revealed that about 80% of online businesses fails within the first year and this made me to carry out a little research on why such business fail in Nigeria and how to avoid such failures.

Online businesses should be treated very much the same like a real offline business. If you were to start a Barbing saloon, shoe making, tailoring, baking etc, what would you do? What mindset do you need? With the wrong mindset, you are setting up your online business for failure.

With the hype that people have been getting on the internet, many have come to believe that millions can be earned overnight without any effort. Sure, you can earn a lot of money online; but not overnight. Those who have "overnight" success with one project, be it sealing an importation deal, website design or programing project, had to learn and practice over some period of time before they learned how to earn huge money faster.

So, if you're serious about becoming rich making money through the net, you must first avoid the top reasons why online businesses fail:

1) Information Overload: The internet is an intricate network of massive information highways. If you've been searching for the key to online success for quite some time now, chances are you already read a massive amount of data and information that most probably has led you to confusion. It's difficult to sift through the pages and pages of reading materials and find one that would really give you the step-by-step guide to start giving you sizable monthly income online.

2) Lack of Focus: The problem with so many websites promising you huge amount of income opportunities, people end up jumping from one thing to another. Will you go for blogging? Affiliate marketing? Importation? There are just so many ways to make money online. My advice: just get something done. Start with one and make some money before you move to the next.

3) No Goal: Whether you're doing your business online or offline, having your goal is one solid foundation to determine whether you will succeed or fail. Not knowing where you're going will definitely lead you nowhere. Guaranteed.

4) No Compelling Reason to Succeed: How many times have you set a goal and then just forget it? Why are you setting that particular goal? You want to earn N300,000 within 3 months and improve that by N100,000 every month until you reach N1,000,000 per month? Great! But the question is why? Is it for your education? Is that for your marriage celebration? Is it because you need to set aside N200,000 per month for your long term care? Or to help your needy relatives and neighbors?

5) Lack of Patience: With the instant coffee, instant downloads and all the instant gratification society has spoiled us with, people got accustomed to "I-get-what-I-want-NOW!" Success is never overnight. You need to pay the price. We can't get away from the Law of Sowing and Reaping. You will always reap what you planted. But you have to give the seeds time to grow and be nurtured properly by the sun.

It's a blessing that while we need to put in some work doing online business, it is actually much less and simpler than you can imagine if you have a guiding compass like me that shows you the does and don't s.

All you need to start is to know the basics. You need an easy to follow guide that shows you how to do online business by simply connecting the dots, and you can avoid the pitfalls of online business and eventually achieve great success.

i hope you enjoyed reading this article and feel free to ask me your questions regarding online businesses and especially online importation. your success is truly my pride.

for those copy cat that must copy this article, please link it back to Nairaland, importExpert and this thread.

cc: Lalasticlala

Thank you Mr Ahmed

The only reason why online businesses is dead in Nigeria is because our government is corrupt.
They don't wanna develop our country so that foreign investors and the citizens will have the platform to start and have a successful online business.

Space booked☹

Following

G

Talking from experince

Last one....budget

Listening

Instant Noodles has made everybody Lazy.
See as this Nairalander eating Indomie below is busy browsing how to make one million in a bit without getting out to work.

K

nice reason. well detailed.

Guys check out Power banks and SD cards on my thread

Rent + Weak legislation + Government policies + Poor training + Poor Salary + Poor Welfare + GSM companies

lol... no money for advert too nah, e.g facebook and paying for front page also.........................u know what i mean? Gerarahere... siebapua...lol

6: High cost of data bundle in Nigeria.
Just go to Spectranet, they will explain better.
7: Inadequate power supply.
Do I need to talk much on this, isn't it obvious.

nnn

I was blind nw I can see. No wonder my businesses no blow. Ori e pe bobo yii

9ce 1

k

Thank you op remain blessed

nice

ok

Feel free to ask questions if you have any.

Ahmed4002:
Thank you Mr Ahmed

thanks my bro.

for sale

Atmmachine:
The only reason why online businesses is dead in Nigeria is because our government is corrupt.
They don't wanna develop our country so that foreign investors and the citizens will have the platform to start and have a successful online business.

guy keep government out of this and step up. If akin alabi, seun, linda n their likes were to wait for gov, i wonder how long they will wait.

importexpert:


guy keep government out of this and step up. If akin alabi, seun, linda n their likes were to wait for gov, i wonder how long they will wait.

Abeg no talk like that. There is a reason why Silicon Valley exists today. The Govt. Supported innovation. Period.

Most of the time, you live in a country and work your ass off without achieving anything. But move to another country and watch that your little hard-work blossom because of the supporting environment.

An Analogy:
Many years ago, in sec school, i once accosted a little boy and wanted to give him a knock on his head because my gf was there. She stopped me and we began discussing with the boy. On further inquiry, we discovered that this very small boy was 12 yrs old. The reason for his littleness? Stunted growth of course caused by poverty. We therefore gave him some money and he ran off to get himself something.

NairaLand is stunted. Its mate is Reddit. Look at them now. Because of the environment. LindaIkeji's mate is Mashable, ParezHilton et.c but you cant compare right?

There is a reason a great man recently once said "If you want to make it, move to America".

But what can we do? We will keep on managing where God gave us. Nigeria.


Make your elected Representative in the Houses responsive. Talk to your Rep. in the House and tell them what you want. Click here to start talking.....

Apart from those, two things are paramount: Lack of adequate power supply, expensive Internet access with ISPs.