What could you take e-commerce business to really mean?
E-commerce is the buying and selling of goods and services or the transmitting of funds or data over an electronic network, mainly the internet. A wide variety of products and services can be displayed online. Websites like Jiji, Olx, Konga and Jumia are examples of e-commerce business websites. Typically, a website is built where products are displayed for customers to view and place orders according to their needs. Sometimes, a token is paid to have it delivered to their doorstep.
To build an e-commerce business the basic requirements include:
- Internet: This resource is available to everyone to utilize to maximum capacity.
- E-commerce website: This can be set up by a web designer.
- Data Subscription.
- Advertising: Adverts on your website can be managed by advertising consultants.
E-commerce is the fast-rising trend of doing business in Africa. Several businesses now exist due to the emergence of E-commerce. With the presence of several big players in the E-commerce industry like Jumia, Konga and the others, there are many entrepreneurs who want to also tow the same path but do not have sufficient information required to set up an online business. Most websites provide inaccurate or outdated information that sometimes leads to losses when implemented.
With the presence of several big players in the E-commerce industry like Jumia, Konga and the others, there are many entrepreneurs who want to also tow the same path but do not have sufficient information required to set up an online business. Most websites provide inaccurate or outdated information that sometimes leads to losses when implemented.
This article will provide information on the aggregate setup cost, running expenses and the most effective method to start an e-commerce business in Nigeria. This estimate is based on the exchange rate of 300 nairas to a dollar.
Things to Put in Place Before Starting E-commerce Business in Nigeria:
1). Website/Domain Setup:
The need for a website in running an online business cannot be overemphasized. It is the face of every online business. As a web designer, I can design an attractive website with a good aesthetic value that will appeal to anyone who visits your website. Domain names can be chosen to suit your business and payment options are included in the website to ease payment for products by customers.
Domain names can be chosen to suit your business and payment options are included in the website to ease payment for products by customers.
2). Installment & Coordination:
This service is free. You can utilize Paga, Paystack, or Flutterwave. It is not necessary to incure expenses on coordination since there is a dependable free arrangement. There are basic
There are basic softwares that will be installed on your website for payment, account creation, support, etc. so as to provide a wonderful experience for customers. An expert technical web supervisor can be hired to manage this, being a web designer does not exclude the need to hire experts in other fields as the need arise.
An expert technical web supervisor can be hired to manage this, being a web designer does not exclude the need to hire experts in other fields as the need arise.
3). Space and Website Facilitating:
This is estimated at 4,500Naira ($15). This covers the registration of your domain name and hosting it as well. There are several less expensive domain source and host. The domain is the name of your website with an extension such as .com, .org, .net, .biz, .com.ng, etc.
The domain needs to be purchased and registered before a website can be available to the view of the public. The host is the live wire of the website, the website cannot function without the host.
Avoid employing free hosting services to prevent problems with your in the future. Also, having a large storage space is necessary to prevent the slow loading of your website.
4). Website Emblem:
An estimated amount of 35,000 Naira($116.67) should handle this. You will need to hire a Creative Planner to handle this.
5). Office Space:
This is not a major requirement as an online business can be managed from anywhere you are. While starting out try to not lease a workplace area, scarcely will any shopper visit your workplace. As your online business expands, you can consider getting an office space.
6) Security System:
Situations may arise where competitors can hire good hackers to pull down your website but if it is properly secured your website will be a like a wall that can not be brought down. Even when your security system is top notch, do well to always be up-to-date with information about the security level of your website.
It is advisable to periodically change your password, avoid using weak passwords to avoid ease of access by hackers. Employ the use of a strong password system that includes a combination of symbols, numbers, and letters. Also, remind your web designer to run hacking tests on the site periodically to ensure any detected
Also, remind your web designer to run hacking tests on the site periodically to ensure any detected loop holes are patched because most times hackers look for loop holes to capitalize on.
7) Proper Research:
Research plays a very vital role when it comes to successfully managing an online business. A lot of people take the internet community for granted and therefore cannot utilize it maximally. Not many are aware that fortunes can be made using the internet community, research can be conducted effectively using this resource.
Questions centred on proper business management, products in high demand, business opportunities that have opened due to need, basic requirements to start a kind of business, common and unique business hurdles among many others can be answered through research.
You can also purchase eBooks online and read. Surfing the internet can get you free information, but will not give you a comprehensive template of what you should know, therefore it is also advisable to purchase books and read. An eBook of N10,000 naira can fetch your millions yearly. Visit YouTube and get additional information. Don’t limit yourself to a particular information.
This involves advertising your website on popular sites, forums, social media, radio, newspaper and other media outlets. Hosting conferences and offline marketing will help to expose your business to people who are looking for the products or services you sell or render. This service is also very affordable.
If you need more information on this, please make use of the comment box and our admins are on standby to respond to you promptly.