By Onwueme Paul
This article focuses on four models of internet businesses I have observed in Lagos, Nigeria. The list of businesses I have identified may not be exhaustive, if you have additional ideas please feel free to add them in the comments section.
If you are wondering what kind of internet business you will like to own and run, then let’s go over this list together.
A web directory is a listing of mostly businesses with their contact information and other information that might be relevant for information seekers. There is a very good example in nigeriagalleria.com, an internet based business directory. Nigeria galleria is the website of choice for many Nigerian marketers as it offers quality listings at no cost and is very reliable. The business model makes money in three ways; pay per click, featured listing and adverts. This business however is not ideal for a single entrepreneur as it requires a lot of editing, monitoring and maintenance hence it is a full time business with full time staff.
Information Content Website/blog
With an information website, we have a text-book example of how to run a part time internet business and make passive income. You can run this business, keep your regular job and still earn money by the side without either suffering. The information content website makes money mostly through pay per click programs like Adsense but could also make money from affiliate marketing. The webmaster or blogger can make serious cash also by selling information in form of e-books, reports and seminars to a global audience and receive electronic payments via paypal, credit cards or e-checks. A good example of a profitable information website/blog is jidaw.com
Seun Osewa’s Nairaland is Nigeria’s largest website and perhaps most profitable internet business. With over 700,000 registered members and over 4 million pageviews per month nairaland is a good example of an online forum. What you need to run something like this is a dedicated server, a powerful web based scripting technology and web savvy. Seun makes most of his money from pay per click and pay per impression from Adsense.
Online merchandising involves stocking goods that can be sold electronically but either delivered by shipping or through downloads. Buyright.biz is a web based Lagos Nigeria business that sells hard to find electronic gadgets through it website. Buyers of any of the products make their order and pay electronically and can have the goods delivered to them through courier or can come in person to pick up their product.