What Cyberpreneurship Is All About
One recent form of technical entrepreneurship is using the improvements in computer technology, especially the internet to conduct business, promote business or perform the process called cyberpreneurship.
Cyberpreneurship varies from an organization which merely promotes itself by using an electronic brochure called a “home page” on the internet, to companies and organizations which sell their products and services through the use of electronic mail on the internet.
A cyberpreneur is generally regarded as an entrepreneur who has an online based business on the internet which targets customers both local and international.
The advancement of information technology has given rise to a number of businesses outside the traditional world of business.
Cyberpreneurs do not necessarily need offices or extensive support staff, they just need an idea, a great idea and domain on the internet.
Online business is done by connecting to a flat world platform and utilizing modern workflow and collaborative tools. In this way, the entrepreneur has involved himself/herself in a new generation of venture that knows no boundaries and is only limited to the influence of the internet and the world wide web (www) touches.
The Web has a lot of information for anyone wishing to start a business on the internet. Gathering information is an important part of starting your online business. The collaborative tools enable the cyberpreneur to reach many people all over the world cutting across age, gender and societal stratification.
Online world is where things happen at lighting speed such as innovation, competition, complimentary imitation among rivals, promotional efforts, extensive and constant advertising.
A cyberpreneur is therefore one running a business in cyberspace and cyberpreneurships are often referred to as ‘dot coms’.
Requirements For Cyberpreneurship
After learning what cyberpreneurship is all about, it is very natural to try to know what the requirements for cyberpreneurship are and, they are given below:
1. Own a laptop/secure access
2. Consult a webmaster
3. Learn the language of Web programming, the various tools and software
4. Make research by visiting many resources on the net for information
5. Adopt a system that basically adds a group of text link adverts to the side of your website.
Steps In Starting A Cyberpreneurship
Conceiving the idea for take off of your cyberspace business is crucial so you must do the following
- Develop business ideas
- State functions and features of the Web
- Obtain a domain at any cyber café in your locality
- Look for Web programming scripts with appropriate functions
- Hire programmers online
- Hire designers online
- Provide creative brief and examples of intended outlook
- Concept drafts from designers, examples; colour schemes, font size etc
- Review draft and make adjustments
- Come up with final design
- Check the entire design
5. Launch The Business:
- Employ professional programme writers
- Provide brief
- Send out press release to websites
- Purchase and place banners/forum announcement text links from websites
- Submit launched website to Web directories
- Hire bloggers for daily content update
- Check and moderate website daily
8. Keep and Sell:
- Allow the business to mature, at least six months for return on investment. Be patient and hard working
Financial Aspects of Cyberpreneurship
It is relatively cheap to operate an online business compared to a traditional localized business setting. The costs are in two groups.
1. Fixed Costs:
These are off-start costs and they are:
- Sever rentals
- Internet line rental
2. Variable Costs:
These include the following:
Factors That Influence Online Pricing
Some factors play their role in influencing online pricing and they are:
This is a main requirement, as advertisers only choose to advertise on sites that can reach a wide audience. Large traffic should signal good health for your online business.
Google Page rank:
This is Google’s method to rank websites based on their relevance and popularity. A high Google page rank will mean many good things to a website, that is, it has a large user base and its content is relevant to many web users.
Backlinks are the websites that link back to your own site. A high number of backlinks means users from other websites are also directed to your own site.
Whether geographical location in case of traditional business or a place on the Web for online business, location is indeed necessary.
The online locations are top, bottom, left, right and even middle sections of the Web page. The top section is generally regarded as the most expensive as it is where Web users always look when visiting a website.
Another price determinant is the number of times an advert appears on a web page.
Advantages Of Online Business
- Communication is instant
- There is high profit
- It does not necessarily need many support staff
- The business can be done right at the comfort of your home
Disadvantages Of Online Business
- There is low productivity whenever there is a challenge in Internet connection
- Getting the right employees with good Internet background might pose a challenge
- Browsers can plug in to block adverts thereby disrupting your income
- There is the problem of time management especially if the business is home-based or you are engaged in other income yielding activities
- A problem may be encountered if Internet/computer illiteracy in the environment is still high
With the information available, Nigerians can now know what to expect when venturing into cyberpreneurship, which if nurtured well, will yield really encouraging returns.