Revenue methods to earn good stream of money online Or a mini business with money making techniques.

I first heard this saying from Mark Ostrovsky and he said;

“WHERE THERE IS SPENDING POTENTIAL THERE IS INCOME POTENTIAL”

Hence it has ever stock with me when am searching for new opportunities to earn either online or offline in my day to day dealings. That is why we took time to break down technique hundreds of individuals use to make a living on cokodeal marketplace. Let’s get straight to the points.

  1. Go to your own version of “Alaba street” that is a location in Lagos where large traders and SMEs that offer products in wholesale quantities. If your city doesn’t have a concentrated location for big traders, check out an area of your city that has shipping port (e.g in Lagos Apapa Tin Can), where large traders come to export their goods.

First step to get your first client

  1. Contact the business owner and describe a method of online marketplace to them that you can use to help them bring in large buyers for their goods at no extra cost from them. When they accept, take some digital photos of 20, 30 or 50 products you think might sell well online. These could be raw materials, to cosmetics, to locally produced goods or clothing and textiles materials. However, remember all have to be locally produced.

  2. Make sure to note the costs price, wholesale price and variation in quantity prices of each goods to be sold. Check out how much inventory the business wholesaler has available or quantity that can be produced within a period.

  3. Post them on cokodeal.com and list them in an organised way to make your store neat and attractive. Write full product description, specification and advertising copy to accompany your product photos to try and sell.

  4. See which products gets clicked in your account using “product performance tool”, which products are selling, that have more demands and which are not.

Income sharing deals with outside vendors

  1. When there is an order, follow up on the transaction, as you will be contacted directly on your store phone number or via message inbox on your store account and get orders closed.

  2. Fulfil the sale by following through with the wholesaler to send goods directly to the buyer. Get your own mark up sales (i.e how much you placed as the price on the website) or commission on the deal as you may have agreed with the business owner.

Final thoughts

  1. Final step repeat steps 2 – 7 with different other business owner

  2. Watch your profit rise monthly without having the cost of owning all the problems that come with running a personal business.

Remember the most successful sellers sell and resell and resell again. As long as there is inventory to sell, why not keep selling if your customers keep buying.

You can take pictures from business owners producing locally who wants to sell more of what he’s already selling. The ideas are endless.

You just need to start with one. Follow this registration link to get your Free store in place. CREATE A FREE STORE

ALL THE BEST!!!, drop any question in comment box below.

Genuine tips in doing business over the internet

It is amazing that internet  offers the biggest opportunity ever in history, however there are challenges for individual and companies to harness it.

What could be the challenge, is it information? technical requirement? hard work? or Scepticism? In this article, we won’t be able to solve the entire puzzle of opportunities available on the internet and how best to take it all. But we would highlight the backbone on which of doing business online and getting returns.

No get-rich-quick schemes: first to establish, this is not a get rich quick scheme, and it is just a guide to those who are really ready to run their business and make good returns from it. There are so many messages and people on the internet today doing one thing or the other but there is only one truth and key to doing business over the internet, and aside this, you’re just a means to an end for some people. And that is you must have a product you are selling digitally or physically for you to make money through the internet.

And on this basis, this is to all business people producing unique products that you want the world to see- Africa’s local content; products produced in Africa. This can benefit you and your business.

What are you selling?

The first question you need to ask yourself is what are your selling? You should be able to describe it to anybody what you are selling. Let it be clear what you do and what you sell. For example, Ankara bag making, African beads and artworks, make-up, fresh fish, fashion designing, agro-products, and more.

Once you have what you’re selling, you can then move to the next question by asking, how can I use the internet to support my business?

How are you going to sell them? – Through which medium?

Now this is the most interesting part, should I just go ahead and create a website and describe my business and my products? And when I do that, how do I get people to start viewing my site so I can start making sales? How can people know about my website? How much does it cost to advertise on the internet? How much traffic do I need to make good sales?

The fact is, every business wants to get as much sales and money in as compared to the money they have invested in the first place, and every way to optimize the business resources is the responsibility of the business owner. It is a beautiful things to have a website for your business, but it is another thing to set it up, maintain it and promote it. Hence, since your aim of taking your business online is to do business and meet business people, there can be other cost effective way, without actually creating a website that would cost you hugely to promote.

Online store-front e-commerce platform

The online storefront ecommerce marketplace platform helps businesses to leverage on these platforms and have an effective online presence that can bring gains to their business. These platforms offer subscription privileges to its users, so they can list their products and provide every useful information about their business.

Already, there are loads of these online store creation platforms in Africa, it is advisable to make sure your choice is such that you can get real value for your money. So here are some tips to help you make the best decision

What is the vision of the company? What are their offerings? Are their offerings beneficial to my business? Does the cost outweigh the benefit or vice versa?

When you’ve decided using these questions, then you can now move on to subscribing and then be positive that your business would be moving to a higher level.

Cokodeal is Africa’s largest online platform for business exposure. It is where business people across Africa meet to do business.

Its mission is to connect intra-inter Africa trade to global market.

It is positioned as the pioneering platform for trade of Africa’s local content within Africa and to the global market

Over time, it has supported hundreds of businesses in Africa to become successful by promoting their businesses to thousands of prospective buyers and giving them technical support through cokodeal.com

Businesspeople in Africa create online store on cokodeal.com everyday and they make tremendous returns on their investments.

Why don’t you get started right away! Follow link http://www.cokodeal.com/index.php?option=registration&task=sellerregister

Cokodeal is proudly African! connecting traders!

5 hacks on how to stay profitable in your online business in Nigeria

The bread and butter of any business is to make profit- what then is it if not to be profitable? As a typical small business owner in Nigeria, selling online is another avenue to further get more customers for what you sell. However selling online is quite different from the usual way you run your brick ‘n’ mortal store. To stay profitable in your online business, you have to master these 5 hacks to stay profitable. Well let’s get to it right away.

Master your pricing mechanism

Whenever you talk profitability, you must talk pricing. They go hand in hand. The price you slam on an item should cover for the cost plus your gain- if not, what else are you in the business for? Your price keep you up there competing with your competitors. This is key especially in the online marketplace world. It is important for you to master the several types of pricing mechanisms. This would help you have a pricing strategy that can always make you win in your business transactions.

Deal with two to three suppliers

In this game, you want to have options. Depending too much on one supplier can affect the profitability of your business. Having two to three suppliers gives you flexibility to source products for your utmost benefit. Part of what you’re looking for is how prompt is your suppliers to meet your orders? Are they giving you best price? All these affect the profitability of your business.

One very important point why you’re better off having more than one supplier is you can have better chance of always having products in stock as opposed to depending solely one which can fail you a times; if one runs out of stock, you can always fall back on another.

Always reinvent your online marketing strategy

More sales lead to more profit. To keep the sales coming regularly, you need to be abreast with trends and new internet marketing practices to help you get in more sales.

Investigate what others are doing now to get in more customers, how can you copy or do better. Always keep your ears and eyes open for the slightest information that can help your business. Visit blogs and forums to see what other people are doing or saying. Be smart and creative in your execution.

Always have budget for publicity

Most merchants In Nigeria are so blindly looking for free things. Yea I know in the world of internet there are a lot of free things. But if you base your business only on things that cost you nothing, you most likely would only remain on the average. Spending money to get money is the way to make more money in the online business. Get your books and calculate it out.

Sell across several online marketplace

Today, there are quite a number of online ecommerce and marketplace in Nigeria. Aside from the top guys like Jumia.com, Konga.com and olx.com, dealdey.com, a lot more online marketplaces are fast growing too like jiji.ng, cokodeal.com,  vconnect.com etc. What this means is a lot more opportunity for you to expose your products to thousands of customers, depending on your offerings. The more you sell at the right price, the more you make more money and the more profit increases.

Business is mostly about rolling your sleeves and getting down to work hard to get results. Ecommerce in Nigeria is fast growing, new concepts springing up every day. Get your pen and paper and calculate out what moves you need to make to get your business regularly profitable. Get your strategy right and always socialize.

That’s it for now guys.

If you have any question, leave a comment.

Cheers!

 

 

 

 

How should I start my ecommerce business? Pitfalls and guides.

The internet has played a huge role in the revolution of business in this era. Old ways of reaching customers and conducting business operations has evolved over the years. Things have become more automated. Businesses have had to drastically adjust to the new system of running their business, they’ve embraced the fact that it would be a loss to their business to be against this revolution. So while others have successfully adjusted or plunged in to this technology with their business, some have not had that much success. There are also those who are on the brink of joining the train however not so sure what to expect and how to get started. This post would help put this confusion into perspective.

Is going online for my business?

That’s the question some business people ask themselves. Some in this same line include: how can I tap into the resources of the internet? What do I need to get my business online? What can getting my business online bring to my business bottom-line? Before you even start, you should understand the usefulness of the internet and how it can boost your sales. The internet gives everybody a level playing ground. This means you can compete on same level with big giants like Samsung, Sony etc so long as you have your products to sell. If you can convince your customers enough that what you sell is good deal, you can make good sales for yourself. The internet breaks the walls of separation amongst geographical regions- making the world a one global unit. It’s so easy to locate a seller somewhere in China and you have your products shipped to your doorsteps in Nigeria or anywhere in the world. What this means to your business is; whatever you sell can be viewed by anybody in the world wherever they are so long as they have internet connection. Whatever you sell, there are technological applications that help make it easy for you to meet customers online. So to help put this into proper perspective. You want to ask yourself; what do you sell? Who do you intend to sell to? Who are your customers? Are these set of people the kind you can find online? If so, how do you find them online? These questions would help you a lot in deciding if selling online is right for your business and also how best to get your products in front of them.

This leads to the next question:

How much would it Cost to sell online?

To consider online as a medium to expand sales comes with cost. So are you ready for the cost it can bring? There are a lot of things to think about like the skill set needed to managing and running your online store for example. Do you need to get someone else to do this for you? How much would internet connection cost? How much for publicity and promotion of your offers? All these must be factored in when you’re planning your business to go online. Let it be clear to you how much you would spend as fixed and variable costs and see if it is something you can do.  There’s the dilemma of running your own ecommerce store where you put in a lot of resources (Which requires large resources) vs creating an ecommerce store with a store provider where you can promote your products on their marketplace in which some of these online store providers like cokodeal.com, konga.com, vconnect.com etc charge little for uploading items on their platforms but they do huge publicity for their subscribers which help the subscribers make more sales.

Are there other hidden costs? Issues like returns, order cancellations in transactions disputes can be a torn in the flesh for sellers. How prepared is your business to handle and withstand unforeseen situations like these ones? Given it’s your responsibility to satisfy your customers, How far can you go to do that? These are some of the questions to help give you birds’-eye view of how to setup for doing business online.

There are loads of benefits with leveraging ecommerce for your business, however focusing majorly on the benefits without actually having a clear picture on how much it can cost you can lead to serious mistake on the long run. This understanding would help anyone who wants to get their business online to know what they’re getting into.

 

Here are the top 7 FAQs to help you get started on cokodeal

Over the years, we’ve had a lot of requests and questions as to how to go about selling on cokodeal and how it can be beneficial to their business. We put together this post on the top 6 frequently asked questions on cokodeal.

HOW DO I REGISTER AS A SELLER AND ADD PRODUCTS

Open cokodeal.com, click on CREATE FREE STORE, add details and submit. Activate your account from mail sent to your email.

Open cokodeal.com and click on Login. Click on Seller. Enter details and login.

In your menu, click on Add/Edit Product and upload all product images and details. To visit your store. Simply login as a seller, click on Store and click on your store name.

How can cokodeal help me sell my products?

Cokodeal has a robust online marketplace and social media campaign platforms which it promotes subscriber’s products to its thousands of followers and visitors. It is important to note that these services comes with little subscription fee which includes, blog mentions, Facebook and twitter campaigns, internal ads on cokodeal marketplace and newsletters.

Will cokodeal ship my products for me?

No, Cokodeal does not do shipping yet. Cokodeal sees this as a cost-effective way to operate in an uncertain terrain like the logistics business in Africa. But we are aware of innovative solutions coming up in Africa and future moves would see cokodeal partner with logistics bodies to handle shipment of products, but for now, we recommend you to subscribe to a third party logistics company that we know  will provide you with services to meet your demand.

What do I do after creating my online store on cokodeal?

For going through the phase of registering and creating a store on cokodeal, it is expected that you own a line of products you looking at selling on cokodeal. So the next thing you want to do is get your first customer as soon as you can. It is believed that your first sale would keep other sales coming. Make sure you have detailed and relevant content of your listings on time because once you go live on cokodeal marketplace, your products would be displayed to thousands of customers across Nigeria and Africa.

Improve your visibility on cokodeal marketplacestand-out

stand-outby taking up a subscription plan. These ad plans comes in several categories to meet your financial needs. Cokodeal would promote your business across all its outreach mediums, these includes, Cokodeal blog, Twitter, Facebook, E-mails, Banners, and other exciting media to get your products in front of your customers.

Can I sell to customers outside Nigeria?

Yes you can sell to customers outside of Nigeria. Cokodeal’s platform is a cross-platform system that would help you promote your products to customers locally and globally.

How much does cokodeal charge on commission?

Cokodeal does not charge commission on sales of products. It charges monthly subscription fee to customers who are looking to upgrade from having a free store. Having a free store is ok but it comes with limited privileges, this is why it is advisable sellers start off with at least basic subscription level which is ideal for most businesses on cokodeal. Usually this subscription comes at N999/ month, which is pretty much like free for any businesses who are looking to do sales on a large scale. Also depending on the nature of a deal, cokodeal can be as a trade broker where they get paid % commission brokerage fee.

What kind of products can I sell on cokodeal?

Cokodeal is more suitable platform for suppliers, manufacturers, exporters/importers, and manufacturers in Nigeria. So if you’re looking to sell on cokodeal make sure you have capacity to supply on wholesale basis. Be ready to present quotations, weight, etc that is fit for a B2B transaction. Cokodeal is the largest promoter of locally made goods in Nigeria, So if you produce locally here in Nigeria or anywhere in Africa, you can sell on cokodeal. These products range from agro-products, raw materials, minerals, fertilizers, fashion etc