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Starting A New Internet Business - My Journey So Far. - Business - Nairaland

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Starting A New Internet Business - My Journey So Far. by databoy247(m): 3:17pm On May 23
Its been a while since I started a business diary. I am an entrepreneur (over 6 years now) and have been focusing more on the internet - being a netpreneur for the past 3 years. Its been fun and its been exciting.

So, I have decided to set up a new internet business with a budget of N50,000. It's going to be a 100% online operation and I intend to grow the business so that in the next 6 months, I should have achieved my target revenue of N1million+.

The next question on your mind is...how is this possible?

As I said, the business will function 100% online and its main offering is the sales of membership accounts. Yes, I am setting up a membership website.

I'll be selling each membership account for N5,500 per annual subscription (not a fixed decision yet). And my target is to sell 200 membership accounts (simply to get 200 persons to sign up) in the next 6 months. This will amount to N1,100,000 (One Million One Hundred Naira).

I'll launch the platform by the end of next month and I'll have till December to rake in N1million+. Remember, it's an annual recurring subscription package so if all goes well, I'll have 200 people renewing their subscription next year. And if I repeat the same marketing strategies I should realize more 300+ new members in addition to the existing ones and rake in close to N3million next year.

Making money online isn't as hard as people think. It's only complicated if you don't understand how it works. You can make money anyhow from publishing, e-commerce, marketing, etc.

Join me as I journey towards this dream-to-reality. I'll share my strategies, my hurdles, my goodies (exciting moments), etc. I am optimistic it will work but if it doesn't, then I'll count my losses and move on.

Remember, I'm not a newbie to online hustle. In fact, I helped my wife set up her new internet based business some two weeks ago with a budget of N20,000 and as I type this she has achieved a turnover of over N100,000 (in less than 14 days). grin

This diary is not meant to brag but to share some exciting processes in setting up a profitable online business that one or two persons might benefit from.

Kindly indicate your interest so I can proceed.

Cheers.

3 Likes 1 Share

Re: Starting A New Internet Business - My Journey So Far. by JasonScoolari: 3:22pm On May 23
Sounds exciting.
Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 3:30pm On May 23
JasonScoolari:
Sounds exciting.
Welcome on board sir. Waiting for more ayes grin
Re: Starting A New Internet Business - My Journey So Far. by Hallenjay: 3:39pm On May 23
im here 4 u
Re: Starting A New Internet Business - My Journey So Far. by coolcharm(m): 3:49pm On May 23
I'll share my experience here soon
Re: Starting A New Internet Business - My Journey So Far. by czarina(f): 4:04pm On May 23
Following Op...
coolcharm:
I'll share my experience here soon
Please mention me when you share yours
Re: Starting A New Internet Business - My Journey So Far. by Flyer20: 4:11pm On May 23
Following...
Re: Starting A New Internet Business - My Journey So Far. by Solahted: 9:13pm On May 23
I'm interested.
Re: Starting A New Internet Business - My Journey So Far. by rottable(m): 10:14pm On May 23
I am seated and waiting for more about your experience
Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 12:33pm On May 24
Update coming up shortly.
Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 9:09am On May 25
Just like they say, every thriving business starts with a great idea. From the beginning of this year I have come up with great ideas but this will be the first I am implementing. Lessons I have learned over the years is that your idea doesn't need to be "unique". It just needs to solve a problem.

Just in case you are the type who really can't figure out a business idea (online), I'll recommend you go to startups-list. com and browse through startups around the globe. See what they offer, then ask yourself if such a service will be bought in Nigeria. Carry out your validation and if it shows good signs, then boom...you are off to a new start.

I didn't want to build something unique. I just needed an online business people will buy into and hs lesser competition. I saw a model being used in the US. This platform makes over a million dollars annually. So, I decided to adopt this model (with a little tweak here and there) in the Nigerian environment.

Some weeks ago, I started with my market validation. This is easy. I have over 1,500 friends on Facebook. I asked 20 of them to answer my survey questions. "If you were offered XYZ kind of service, will you love it?, If you were asked to pay XYZ for such service, do you think its worth it?...."

I got my responses and viola, it scored 80/100. EXCELLENT!

Now I know the business will be acceptable. And the pricing is somewhat moderate. Now that I had the OK, I decided to move on with planning.

It is a membership website with information that has real value. I have done my research and put together a small team...trust me, you can't do it alone o.

I am going to do everything possible to ensure my N50,000 budget does wonders. I'll apply organic and self-help methods where possible to reduce cost.

Right now I am setting up the website. Its a very simple one and I am using Wordpress. After the 6 months beta stage, then we'll set up something a bit more "complex". For the now, I just need something with an easy and friendly UI, and of course, cost-effective. I can build websites so I am doing this myself.

But even while working on this, I am still cracking my brains on marketing strategies and how to land my target first 200 members. May the Heavens and universe guide my way.

Let's do a little prop and market re-validation here on NL. So you understand why its necessary to do such before venturing into any business (online or offline).

QUESTION: If you were offered a platform where you register as a member for a recurring annual subscription of N5,000 yearly and you gain access to stuff that can give you over N2million in a year. Would you sign up? Remember, it's highly legit stuff.

Let's see your answers
cool

Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 6:42am On May 26
Happy Sunday folks.
Re: Starting A New Internet Business - My Journey So Far. by bravesoul247(m): 7:00am On May 26
databoy247:
Just like they say, every thriving business starts with a great idea. From the beginning of this year I have come up with great ideas but this will be the first I am implementing. Lessons I have learned over the years is that your idea doesn't need to be "unique". It just needs to solve a problem.

Just in case you are the type who really can't figure out a business idea (online), I'll recommend you go to startups-list. com and browse through startups around the globe. See what they offer, then ask yourself if such a service will be bought in Nigeria. Carry out your validation and if it shows good signs, then boom...you are off to a new start.

I didn't want to build something unique. I just needed an online business people will buy into and hs lesser competition. I saw a model being used in the US. This platform makes over a million dollars annually. So, I decided to adopt this model (with a little tweak here and there) in the Nigerian environment.

Some weeks ago, I started with my market validation. This is easy. I have over 1,500 friends on Facebook. I asked 20 of them to answer my survey questions. "If you were offered XYZ kind of service, will you love it?, If you were asked to pay XYZ for such service, do you think its worth it?...."

I got my responses and viola, it scored 80/100. EXCELLENT!

Now I know the business will be acceptable. And the pricing is somewhat moderate. Now that I had the OK, I decided to move on with planning.

It is a membership website with information that has real value. I have done my research and put together a small team...trust me, you can't do it alone o.

I am going to do everything possible to ensure my N50,000 budget does wonders. I'll apply organic and self-help methods where possible to reduce cost.

Right now I am setting up the website. Its a very simple one and I am using Wordpress. After the 6 months beta stage, then we'll set up something a bit more "complex". For the now, I just need something with an easy and friendly UI, and of course, cost-effective. I can build websites so I am doing this myself.

But even while working on this, I am still cracking my brains on marketing strategies and how to land my target first 200 members. May the Heavens and universe guide my way.

Let's do a little prop and market re-validation here on NL. So you understand why its necessary to do such before venturing into any business (online or offline).

QUESTION: If you were offered a platform where you register as a member for a recurring annual subscription of N5,000 yearly and you gain access to stuff that can give you over N2million in a year. Would you sign up? Remember, it's highly legit stuff.

Let's see your answers
cool
Most definitely I would subscribe. But I need to know exactly what It is that would give me such an amount cos if it's ponzi then I won't.
Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 7:49am On May 26
bravesoul247:
Most definitely I would subscribe. But I need to know exactly what It is that would give me such an amount cos if it's ponzi then I won't.
Thanks for your feedback.

Let me give you a scenario...

In 2016, I got a job with a company in the US. It's all about writing/editing of academic stuff. Company is based in the US while I work from home here in Nigeria.

My first year with them, I got over N3million. I was paid between $500 - $1,000 monthly. Since then, I have gotten way more offers like that which I actually gave up using cos I don't have the time. There is a limit to the number of jobs we can handle daily or we wear out.

I definitely know how to scratch out offers like this from the most hidden places (I also have contacts from some of these countries that helps with verifying the legitimacy of these opportunities) and I intend compiling these offers in an information pipeline then sell subscriptions to those who which to access these offers.

In a nutshell, as a member, you'll gain access to weekly published data that can actually help you earn over N2m annually or more.

So, now that I have given you a glimpse of what you gain as a registered member, will you sign up?

cool
Re: Starting A New Internet Business - My Journey So Far. by maxiart2(m): 11:11pm On May 26
bravesoul247:
Most definitely I would subscribe. But I need to know exactly what It is that would give me such an amount cos if it's ponzi then I won't.

@op your post is inspiring and challenging for we to do more.
Please I am into art and am planning to create a blog site. Like how much will it cost me to do that?



And for your question, I will definitely subscribe provided it is legit and it will generate reasonable amount for me.

1 Like

Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 8:36am On May 27
So, I have completed the registration, payment, and login pages. The payment will be processed by Paystack. And the system has been programmed to lock you out after one year if you have not renewed your membership.

My next task is to work on the dashboard. When you login, you are supposed to be taken to a dashboard.

The only challenge I have right now is the reCaptcha I installed in the registration and login forms. It isn't just working and I know I did it right. Super annoying. angry angry

The dashboard might take me a few days to set up.

Update coming soon again.

4 Likes

Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 12:07pm On May 27
maxiart2:


@op your post is inspiring and challenging for we to do more.
Please I am into art and am planning to create a blog site. Like how much will it cost me to do that?



And for your question, I will definitely subscribe provided it is legit and it will generate reasonable amount for me.

Thanks for following this diary. As per your request. I have stopped setting up sites for people. I really don't have the time. Perhaps you can check the webmaster section and find a capable hand.
Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 9:42am On May 28
Good morning folks.
Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 1:36pm On May 28
My new online business is beginning to take shape. The website is 70% complete.

I need to try and finish up by the end of next week. This is so I can have one full month handling the next phase before launching.

Waiting List.
Hopefully, my next phase after the website completion (and loading it with content) is to start working on my waiting list. The best way to start getting IMMEDIATE customers or users for your website is to carry out what I call a waiting list set up.

This means creating a buzz around the service for 2 - 3 weeks on social media. I'll also set up an email subscription box on the website landing page - in other words, I'll start dropping daily appetizing posts on social media and drop a link with each post leading to the website's landing page. On getting there, you'll drop your name and email to be "notified and be the first to know when we launch" wink

The social media buzz will be supported and pushed by ads. And the target is to get up to 300 email subscribers before the final launch.

A few days to the website launch, I'll start sending emails to the subscribers and even letting them know how much it will cost to sign up. Maybe I'll give a discount to the first set of users on day one of launch.

This strategy is to get a minimum of 50 paid members on the first week of launching the website. If I can achieve this, then the remaining 150 targeted members will be easy to acquire in the next coming months.

For now, I am still battling with the set up of the website's dashboard.

Stay tuned.

2 Likes

Re: Starting A New Internet Business - My Journey So Far. by etcme: 8:31pm On May 28
For the records, I am here.
Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 6:06am On May 29
etcme:
For the records, I am here.

Oh, I thought no one was. I was about shutting down the thread.

More updates coming soon.

1 Like

Re: Starting A New Internet Business - My Journey So Far. by sunnyking09(m): 6:24am On May 29
I'm interested
Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 6:44pm On May 29
Update:

I have successfully set up the dashboard. It is not overly complicated. Just something very simple.

I have also included the terms and conditions of the the website. My level of experience has taught me to always provide options for legal. One cannot be too careful.

So, the website is practically ready. All I need to do now is flood it with high value contents.

If you are to sell membership subscriptions, you need to provide high value contents. It's key to the business's survival.

I have shown some of the contents to a few persons and they were perplexed. They accused me of practically "dashing" out these information even though I'll be charging N5,500. But wetin I go do na? grin

From the start of next year, random registrations will be closed. You can only register by referral. And the fee will go from 5,500 to N28,000.

Early users will surely enjoy the platform first cheesy

NB:
A lot of people have emailed me privately asking to be included in the waiting list. This is to let you know that when the time comes, I'll drop a link here so you join the waiting list.

For those trying to start an online business, you can see it's not rocket science.

- Get your idea

- Do your market validation (how viable is your idea?)

- Draw up a plan. How do you want to structure the website? How do you want to make money from it? Etc.

- Build the website

- Create a buzz/waiting list. You need to create some form of awareness and get people interested even before releasing the website to the public.

- etc..... I'll update this list later. cool

Like I said, if you know your onions, setting up an online business isn't that complicated. Making N500k in your online business is not imaginary. It's a simple possibility.

Forgive the typos, I'm using a phone.

More updates coming up shortly.
Re: Starting A New Internet Business - My Journey So Far. by etcme: 8:01pm On May 30
Like I said, if you know your onions, setting up an online business isn't that complicated. Making N500k in your online business is not imaginary. It's a simple possibility

Well, it's not complicated to you as you already know the technicalities involved in web creation.

My advice to anyone starting out is, if you can't do it, find partnership. Team work makes the dream work.

Kudos Oga Databoy, following you bumper to bumper.
Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 6:07am On May 31
etcme:
Like I said, if you know your onions, setting up an online business isn't that complicated. Making N500k in your online business is not imaginary. It's a simple possibility

Well, it's not complicated to you as you already know the technicalities involved in web creation.

My advice to anyone starting out is, if you can't do it, find partnership. Team work makes the dream work.

Kudos Oga Databoy, following you bumper to bumper.

Thanks @etcme.

The technicalities involved in website creation isn't the secret ingredient. You can always hire a developer.

The secret ingredient is knowing how to get customers. In one word - marketing!

No matter how technical you are, if you don't do good marketing, your website will be seen as another failed project.

Update:

The website is 100% ready!
Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 11:07am On May 31
And the social media buzz have started.

A post I made on LinkedIn attracted 2,000+ views in less than 24 hours with tons of comments. See attached.

For the social media buzz/awareness creation my list of tasks includes:

- Setting up a business page on both LinkedIn and Facebook

- Setting up Twitter and Instagram accounts

Then to make it easier, I'll make use of those social media management tools like hootsuite, buffer or socialbee.

I need to post on all social media accounts simultaneously and even schedule my next 20 posts.

So far, I have spent N7000 from my budget. But currently, my gen is faulty. The key start refuse to answer and I tried manually, same thing. angry I have sent for my mechanic.

So bad. PHCN keeps frustrating entrepreneurs.

angry angry

Re: Starting A New Internet Business - My Journey So Far. by theceoz(m): 11:15am On May 31
great, go ahead
Re: Starting A New Internet Business - My Journey So Far. by comeandsee: 12:40pm On May 31
YOU ARE WONDERFUL NETPRENEURE AND A GOOD LECTURER . CARRY ON AS I FOLLOW . THANKS .
Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 1:22pm On May 31
comeandsee:
YOU ARE WONDERFUL NETPRENEURE AND A GOOD LECTURER . CARRY ON AS I FOLLOW . THANKS .

Thanks boss. I am practically teaching how to begin a startup using a live example.
Re: Starting A New Internet Business - My Journey So Far. by SocialJustice: 2:11pm On May 31
databoy247:


Thanks boss. I am practically teaching how to begin a startup using a live example.
Nice one, I'm following. I'm expecting some money soon and I've really been looking for a way to make money with high probability online without just queueing in websites like freelancer and upwork. For the past few days I've been thinking hard on this. Good thing I found this thread.

One thing though, can you be clearer on
*the type of jobs you intend to link members to,
*hours of work needed,
*break down of earnings,
*frequency with which the jobs come,
*how to receive payments.

Please, also post your waiting list here so I can join.
Re: Starting A New Internet Business - My Journey So Far. by databoy247(m): 2:22pm On May 31
OK, the waiting list subscription tool was up yesterday and it's amazing how a good product attracts prospective users. So far so good, I am impressed with what I have done so far because it is beginning to gain traction even without it available to the public yet.

Now, for NLers who are interested in joining the waiting list, here is the link;

CLICK HERE TO JOIN THE WAITING LIST

NB: My generator is working again.

Discovered the battery died and I didn't put on the ignition while trying to start it manually. grin

Anyways, more update coming up shortly.

1 Like

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