You don’t need everything to start, just a working brain. Why most people may doubt this, here is how I explained it to a friend. I had a business conversation with a friend last week. This my friend is an entrepreneur and he is smart. He was seeking my opinion on the best way to start a business.
He added …without starting it big. I responded with these lines of thought. Which niche is most suitable to get started from? I think it is selling digital devices. I explained with some data and facts. In 2021 Statista reported that about 77.53m people use the internet in Nigeria. That goes to inform you that this people use digital devices.
How would they access social media, YouTube and TikTok? They need phones and laptop to do that. So, you can now agree with me that the demand of digital devices will keep growing?
He said yes. That has been established. Let’s now start the business. Are you with me? You have a capital of $250 to start a business. Source for a good laptop. If you are in Lagos, you could get it from a big dealer. Or you could import it from China
Here is the point. Ensure the buying price is low and the quality of the laptop is high. Say you buy the laptop for $200. You now have a product right.
He said yes. The next very important thing is to try to sell ASAP. So, you can buy another one . We are now in the marketing stage.
Choose a name. Such as Techstar. Then design a flier. The flier should contain the laptop you sell and the benefits. Then, you can go ahead and start using your social media to market it. You don’t need a shop at this time. Because you don’t have the money. And even if you do you don’t start a business with big capital without testing.
A second marketing strategy is to visit where they sell laptop. Learn from them how they market. In Nigeria, you could sell on Jiji By this time, Facebook ad is not needed. If you do this well, in 1 weeks’ time, you will sell your laptop. With a good margin.
If you sell for $300, you had made like $100 gross profit.
Repeat it with 2 laptops.
Repeat it with 3 laptops.
With patience you will be selling 100 laptops.
I think this will help you to start a business online.
Your favorite friend.
Entrepreneur & Blockchain Expert | Founder @ expaat.co| Inspires through Storytelling