This does not relate to offline or online business in Nigeria, but would it be odd if someone told you that they wish to make millions for waking up, having daily breakfast in bed, exploring new places and minding my business? Or maybe, I’m just literally expressing your wishes.
But, since all that remains a dream at the moment, scroll with me to reality.
Considering you might have felt stuck, trying to comprehend offline and online business in Nigeria—both in Nigeria’s existence, operations, and stability. Also, the differences. This is the spot to unravel the mystery, you’ll see.
Speaking about business in Nigeria. You’ll need to equip yourself to survive that world. Let’s point out bullets of essentials to build an online or offline business in Nigeria.
Table of Contents
Essentials to build an offline or online business in Nigeria
1. Idea
Given you consider establishing one or more businesses, it is a pleasant idea. Kudos to you. There can’t be an offline or online business in Nigeria without an idea of what service you want to offer.
But ideas expire when they are not executed. And Nigeria is populated with a census of over two hundred million citizens. Let’s not even begin with unemployment that draws a map, driving people to create.
It means you’re not alone. It would be best if you fastened your seat belt unless you think otherwise. Good for you either way.
2. Mission
Idea? Checked. Planning has been put in place on how to launch your idea. Unto the next one, yeah?
Your brilliant idea, how are you going to implement it differently?
About that, we’ll choose the banking sector. But note, the notion isn’t to defame any bank. We’re simply elaborating.
Guaranty Trust Bank(Gtb) and Kuda Microfinance bank (KMFB) offer similar services. Primarily, they accept deposits, grant cash, loans, plus many others.
As a client of both banks, I’d confidently save money in KMFB for a month without worrying if you can attest to this. But, I can go into a panic attack if I forget tuition fees in my GTB account for that specified time. I could have been charged for atm card, text message or any other fee, which equals Insufficient funds.
On the other hand, if I have a pressing issue that requires immediate attention, I can easily visit any GTB branch. But, I need an appointment to do the same with the only physical branch available by KMFB.
You have your features, and so should your business. It has to be identified by its outstanding qualities, wholly immersed in your mission. And I’m emphasising that can’t be an offline or online business in Nigeria without a mission. Do you get that?
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3. Target audience
To build an offline or online business in Nigeria, you need to map out your target audience. At this point, it’s safe to say that you’re making progress. Let’s highlight this next point under the music niche.
Initially, your interest was promoting great music. But, specifically, ones with explicit content. Genius! Your friends suggest that if you pioneer a platform that supports an unlimited number of contents in that niche, it will make waves.
Now, that’s a ton of audience we’re looking at, and your five friends cannot fill the gap. Who are you trying to convince? Who are you trying to impress with that platform? Who is your audience?
And perhaps, you had no conscious knowledge before. Eighteen (18) is the start of legal age in Nigeria. And contents with at least an ounce of nudity or sexuality are under “Rated 18”, “PG 18”. You should have come across those lines in quotes before.
So your audience could be within the age of 18-40. That’s the combination of great music attracting a gob of millennials.
However, this stands. Just make sure you know the people you’re targeting before you kick-start. It guides your sales, tone, content creation, graphics and the rest.
4. Business name and slogan
If you’d agree with me, a business that ticks a box on all these points can be identified as genuinely ready except for one point that we’re missing.
And, since I’m not trying to direct a movie, I’ll skip the suspense.
The name of the business was omitted. But, It was just part of the plan to leave the best for the last.
So we’re going to cite a few valuable businesses in Nigeria; Dangote, MTN, Coca-Cola, Toyota, Samsung, Jumia, Julius Berger, all in their specialised market. If you take a quick look at these names or utter each, you’ll realise they have a corresponding element. Brevity!
Your business is fueled with power when recognised by a name but greater power when it is remembered. And that’s why you see the acronym ATM resonates other than its full meaning, “Automated Teller Machine.” I can imagine your shock if you had no idea or have forgotten. It happens.
A slogan will also be a great addition, like that of MTN, everywhere you go. That line lives rent-free in almost every Nigerian’s head. Do that also for your business, but please, don’t plagiarise. Thank you in advance!
Considering that you’re already hooked on this, let’s spread some butter on the bread. The next phase is Online business in contrast with Offline business. We go on by breaking it down.
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Differences between Online and Offline Business in Nigeria
1. The existence
There are standard and straightforward ways to plan your business either offline or online business in Nigeria if you have observed.
I’m not suggesting that you cheat your way through, but if you don’t have a sack of humus soil, you can start with a litre.
Online business in Nigeria
- You create your name, logo, slogan, mission and identify your target audience
- You open a business page on social platforms like WhatsApp, Instagram, Facebook, Twitter, Linked In, etc.
- You prepare your list of contents
Offline business in Nigeria
- You create your name, logo and signboard
- You find a location that’s suitable as a busy or populated area by occupants. That way, you don’t only attract your target audience. But, other passers-by
- You stock your office and try to maintain an appealing view.
- You keep paying rent if someone doesn’t buy the property.
Remember the sack of humus soil? This is it.
Both online and offline businesses in Nigeria are obliged to register under CAC, which requires a fee.
But, you know how some things are overcharged in Nigeria, do yourself a favour and start till you can fund the cause. Although, the benefits are sincerely evident.
2. The operations
I’d point out Apple’s slogan as a quote here. “Think different. But not too different”. There are procedures available to sell your products or proffer your services.
And, you might be considering an additional spice, which is admirable. You don’t want to exaggerate your status and confuse the clients.
Online business in Nigeria
- You broadcast your goods or services, and it could be both.
- You engage with people, your followers, non-followers.
- You layout tips, hacks for your audience.
- You initiate question and answer sessions.
- You could include giveaways and promos.
- You could also work with marketers, influencers, celebrities to advocate your business.
- You run adverts either by making payment for the different packages offered by each platform. And you can also keep reposting, talking to people about your business. Just make your business known.
- You can also employ a team of staff to carry out the various duties.
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Offline business in Nigeria
- You sell quality and satisfactory products. For services, you should deliver them nobly.
- Whatever you claim to sell should be available. And, you can also update clients when to return and please, keep to your words.
- You should open your office more times to assure people of your presence. It’s logical if you’ve got days off, but you shouldn’t be tagged as the one who never shows up.
- It would be significant to recruit workers, but they have to be updated about the business procedures.
- Their representation of the organisation is vital.
3. Stability
In detail, this is not exclusive to Nigerian business. Either you’re a vendor online or offline, and it’s only natural to encounter obstacles in your race.
But, it’s all dependent on how you react. Either you let it penetrate through you or harness it to gather strength.
Altogether, you should thrive on investing effort, visibility, quality, and a good impression. You’ll see results. And for what it’s worth, I’m rooting for you if you’ve got no one. All the best!
Distinct features that drive Online and Offline Business in Nigeria
Here, just a few points give offline businesses high ground over online companies, and inversely.
1. Capital
If you don’t have funds for a physical office, your ideas don’t ruin even before they are planted. The online platform gives you space to come as you are and begin.
Some apps give samples of the products or services you can offer in pictures and videos. You can post on your page, using captions to amplify further. And giving credit to the source. It works and guides you. Try Pinterest and Youtube. Okay?
Yeah, you’re welcome.
2. Trust
You know that saying “seeing is believing”. It gives more grace to offline businesses. On the other hand, the online stores have to try convincing through publishing feedback, tagging accounts of real people. It can be exhausting sometimes, but as long as your word is true, you’ll find your clients in that space. Don’t feel defeated.
3. Location
In this case, an online store benefits more. You are not restricted to having clients just within Nigeria but nationwide. After viewing and making a choice of product, people can easily order, and your company delivers. It’s only best to give them an accurate delivery date. That way, you can be proven as someone who keeps your word. And, there are cases where a different company does the delivery, so that makes services gets offered too.
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Conclusion
Finally, and just so we are clear, the journey to building an offline or online business in Nigeria is not always a smooth ride. But trust yourself. And it might sound cliche but be confident. You’ll be fine.
Your concern for progress shouldn’t make you neglect your customer’s feedback. No matter how small your business, they will always be a power tool.
Also, I’ll be going against a common myth. Your customers are not always right, but their feelings are valid. Feel free to thumbs up if you agree and down if you don’t. I hope I’ve been able to clarify your confusion.
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About Author
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Tobiloba Funsized Adeola is a part time drama queen who cuts across being a visionary content writer, story teller and poet.
She loves to blend ideas, thoughts and experiences, sharing them for the world to consume.
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