Majority of people would love to start and run their own businesses. That is not even in doubt. You can easily come across someone who claims that their problem is not the lack of ideas but of start-up capital.
Read Related: HOW DO I FINANCE MY BUSINESS WITH INVESTORS?
Adeleke David popped the question on Techcabal.com’s Radar forum “If Someone Gave You 100,000 Naira To Start A Business, What Business Would You Start?” Read the different and sometimes funny responses from the Radar. Enjoy.
“100K approximately $450?
By business I’ll assume you mean something profitable.
Go to Flippa put up 50-70 buck for one of those neatly styled sites. Unique theme, aggregated contents.
Put up bid for a video feed site or deals or travel search.
When you have it. Apply for a pay per call network, one of the reputable ones. (Ringpartner/Callmarketing…etc). They are vastly easy to get into, it is still early days for pay per call advertising.
Before you apply however you can go to fiverr to buy Alexa traffic to jump start your score, these networks try to measure traffic by looking at your Alexa score. Lazy? Yes, but apparently they’ll run you through Alexa to verify, even Yahoo Advertiser Syndication networks still rely on Alexa, some.
You will still have like $400 remaining, go to adwords buy placements for any of the highest paying offer in your PPcalls account, one successful rehab call could land you between $150-250. So you need less than 6 conversion to even your overall budget which you can nail under 200$ if you get your placement right.
Almost all the Ppcall networks payout Net 14 days, tops. Especially the dedi ones.
Rinse and repeat. By 2 months if you’re really smart and quick on your feet, you may be counting up to 2K USD, as profit, not spend for the ad cycle.
Alternatively you could just start Recharge Card business.”
“If you don’t mind me cheating, (assuming I’m homeless), I’ll start 5 businesses at the same time. Not just one.
1. Instant Messaging Business but not like the normal/typical ones with 10,000 Naira and alot, I mean alot of open source software/tools.
2. Tutoring Business (if Im near a school or university) with 10,000 Naira
3. Freelancing Business by getting freelancing projects for people across the world with 10,000 Naira
4. Hardware Business by getting old laptops/phones/tools and creating new laptops/phones from them with around 15,000 Naira
5. Music Business with 5,000 Naira.
Remembering that I’m homeless, I’ll save 25,000 out of the remaining 50,000 for hierarchy of needs like food, water and once in a while bathing. If bathing is expensive, I’ll take that out. I’ll probably keep the remaining money for emergency or miscellaneous needs or if I find better business opportunities. Depending on which of my businesses is doing good or bad, I’ll add or subtract my initial money.”
“Okada business is top on mine. One should be able to get one below 100.”
Related: WHERE DOES MONEY COME FROM?
“I swear, I ll start a drop shipping store for Baby Diapers!”
“Start a tech shop in my area, selling accessories of phones, tablets, and downloading of mobile movies, and songs, cd softwares. and also have a website for it with a facebook, instagram and twitter page for online and offline traffic, with a budget of N10k for facebook advertisement for awareness.”
“In a place like Ilorin, Laundry/Barbing Salon Business comes to mind.”
Fam! If someone gave you 100,000 naira to start a business, what business would you start?
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