Thursday, 10 August 2017

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ENTREPRENEURSHIP: THE POWER OF THE INTERNET IN WEALTH CREATION

By: Lolia On: 10:55:00 am
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  • The internet technology has championed the rapid growth of ecommerce businesses across the globe. Global online retail sales are growing and is estimated to reach 8.8% of total spending in 2018, as compared to 7.4% in 2016.

    The internet value chain, estimated to worth 5.8 trillion dollars, has brought with it a lot of opportunities in all spheres of life.

    The internet has so transformed and influenced the world to a point that  organizations have no other choice than to join the trend. In order to catch up with the trend and survive, organizations have had to adapt their systems –Business/Marketing strategy, HR, Production, Customer Care, marketing methods and techniques- to plan for their digital future.

    Banking transactions, for instance, are now done online conveniently. The cashless policy by the CBN is a pointer to more online transactions in the future.

    Do you know that part of Mark Zuckerberg’s vision is to make facebook a wealth creation platform, hence lifting as many people as possible out of poverty?  So, how have you positioned yourself to key into this vision?

    Bellanaija, Linda Ikeji, Nairaland.com, Jumia, konga, dealdey, Yudala, Payporte, Vconnect, kara, Fashpa, Gloo.ng, Olx, wakanow,  and others have set the pace for internet wealth creation in Nigeria. What are your plans to earn online?

    Online ecommerce stores in Nigeria get about 400,000 online orders every 24 hours in Nigeria.  It’s never too late for you to be a part of this emerging market; with all these orders, the market is still at an infant stage. How can you tap into it? 

    To venture into ecommerce, you don’t need to have products; you could start by selling for others. Lots of physical store owners are willing to partner with you.

    All you need do is, call to get prices and details of their products, add your own profit plus delivery charges, advertise the products online, get buyers, send money to product owner, send courier agents to product owner.  The courier agent picks up and delivers within 48 hours and all parties involved are happy.

    When it comes to a lifestyle friendly business, internet business -digital marketing, blogging, ecommerce, freelancing and so on- appear to have it all. You get to operate from home with the stress of a regular job or business and reap your monetary rewards, even more than the regular job or business.

    With the internet, the solution for job creation is not farfetched. While we are looking to create new jobs and find our way out of the present economic recession, we should also consider the opportunities on the internet strongly.

    As the advantages of the internet keeps unveiling to organizations, the demand for digital marketing expertise is significantly on the increase. Despite the growing demand for relevant digital marketing skills across industries, the number of professionals with the right digital know-how is still minute.

    In spite of the opportunities available, the internet, especially the social media is being underutilized by lots of young people, who are rather unconsciously addicted to it, yet complain about unemployment.

    They are so addicted that they spend more than half their day on these platforms chatting, exchanging words, debating, sharing things like, and annoying religious chain messages, fake news, rumors, unnecessary pictures and other content.  

    This addiction is getting worst by the day and there’s a reason for that:  most of the major social networking companies, as well as social content creators are working hard every day to make their networks so addictive that you can’t resist them. And so their victims waste their time and money on the platforms with nothing to show at the end of the day.

    While all of these are going on, there are other social media users that make a fortune from these platforms on a daily basis.  

    Supposing you are in the first group: Imagine how much you must have paid on data, phones and accessories since you bought your first mobile phone.  How much have you made out of it?

    Mark Zuckerberg made nearly $5 billion in the first two weeks of 2017. How much have you made so far this year?  You mustn’t earn as much as Mark Zuckerberg, but you can start with earnings that could take care of your data expenses.

    You need to have a stake in the internet and social media space? And you can achieve that by ensuring you make money or get jobs or at least make strong connections that will be of immense help to your business/ career and your life in general.

    People meet future employees, marriage partners, prospective customers, Business partners, build big businesses online. This is the beauty of technology, and until you key into it, you’ll never know how far people have gone.

    There are numerous ways you can make money online: Ecommerce, Blogging, Membership sites, forums, Webinars, Training Portals, Blogs, social media management, content creation ( Video, Infographics, Photos, Cartoons, animation, Writing, Graphic design, etc), content editing, Virtual assistant,  Web designing, and many more.

    Last week I was reading an article, how that Linda Ikeji is richer than the richest woman in Nigeria, Mrs Folorunso Alakija. Linda Ikeji may not be richer than Mrs Alakija in the actual sense, but the fact that she is being compared with the richest woman should tell you it is very possible for her to surpass Mrs Alakija, any day, anytime.

    Today, Linda Ikeji makes more than N100 Million monthly from all her businesses online. Like I said earlier, the market is still at its infant stage.

    You mustn’t earn as much as Linda, but it is possible to earn 35 million naira a year, as a blogger, if only you are willing to pay the price.  Everyone loves money, but not everyone is applying the correct formula and that is why people often abandon or fail in their businesses/career. It is even more in blogging career.

    The founder & CEO of amazon.com, Jeffrey Preston Bezos, was rated the richest man in the world last month, July, though Bill Gates took back his position in less than 48 hours. This report is a pointer to the fact that there is so much to be made online. Wealth has moved from the soil to the internet.

    As an Entrepreneur or an employee, if you are thinking of a source of extra income, setting up an online business will be a better option, as the stress is less and you make more profit.  
      
    I was on nairaland.com  2 weeks back and a young blogger displayed his AdSense earnings. He makes between $80- $120 daily. This translates to an average of $2,800 monthly (over a million naira). An unemployed graduate in Nigeria, earning a million naira monthly, can be financially stable to a large extent.

    Right from 2010, most of my earnings have come through the internet. You too can also earn, even more.  

    Economically, socially and culturally, the internet has greatly impacted on nations, communities, institutions and individuals and we are yet to see the best of it. Make up your mind and do something today!

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