How TO Start A Successful Online Business In Nigeria

Online can be exciting and could be considered quite an adventure for most. However, we must not be caught up in the novelty of the moment and rush into things.
Starting a business is a pretty serious venture and one involving financial resources. As with all ventures with financial implications, decisions must be carefully taken and with ample deliberation. Here are some very crucial pointers to note if you harbor a desire to start your online business today.

You can’t train a child without first giving it a name. This is same for your business. The first step would be to give your business a suitable name which you will operate with. This could be changed later on, but it is a preliminary step that will herald every other step that you might have to take afterwards.
Choosing a business name is more of an offline activity but will also involve some online efforts especially when you want to confirm availability of the name that you have chosen.
It is very possible to conceive an idea of the perfect name for your business but find out that it is already in use by someone else entirely. This is what the CAC search would be doing for you.

Through publicsearch.cac.gov.ng you would be confirming the availability of your business name to ensure that you won’t be attempting to register a name already being used. The CAC does not permit registration of same business name for multiple businesses for obvious reasons.
Once you have confirmed that your name is available, then you can proceed to do the necessary steps to register the name with the Corporate Affairs Commission (CAC).

As with everything that involves money, banks cannot be taken out of the discussion. You customers would have to pay you and they would have to pass through financial channels to do this.
Considering that the bulk of your business would be online and there won’t be the avenue for physical hand to hand payment, you would thus have to opt for a financial institution that possesses a strong online presence and ample technological solutions and tools.

This is to ensure that for whatever financial activity you or your customers would want to carry out online as regards your business, there would be the technological solution and/or tool to enable you do so.
Some banks possess more digital capabilities than others and hence you would need to take special note of these things. A little research should provide you with this information.
Once you have settled your business name, the next important thing would be to get a domain name for your business. A domain can be best described as an online plot of land.

As your business would be domiciled online, your domain name would be like the plot of land in the vast expanse of land available on the internet. Just like business names, domain names can also coincide with others and can also be already taken.

Having a discussion with an IT expert would help you in selecting an appropriate domain name for your business. Domain are the xyzbusiness.com tags that your online business would come to be known with.
These are the basic and more significant pointers to first look out for when you want to get that business up and running. It is important that you do not neglect them or rush into some other activities and leave them unattended to.

They could prove to be eventually vital for the survival and sustenance of your business. Giving good consideration to them would help your new business find strong footing in whatever industry you might be operating within.

22 Comments

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