Editor’s Note: This article provides excerpts from an in-depth interview by BellaNaija’s Gbenga Awomodu with Loy Okezie, a web entrepreneur.
In the interview published recently at BellaNaija.com, Mr. Okezie shared some of his experiences, successes and challenges starting and building ventures on the Internet and how the Nigerian youth can make legitimate income from online entrepreneurship.
Here are some excerpts:
BN: How well do you think Nigerians are tapping into the various opportunities to create legitimate wealth via the internet?
LO: With an estimated 60 million Nigerians on the Internet, there is definitely a huge opportunity to reach a critical mass of people with an online product or service.
Interestingly, Nigerian Internet entrepreneurs are exploring various ways to create wealth legitimately online. From web design and hosting services to online forums; from social networking sites to classified sites; from web and business directories to music and entertainment sites; from online dating services to online job sites, just to mention a few.
There are in fact some notable online ventures that have turned their passions into profits, thus making money online legitimately. Some have equally attracted investments from external sources, and some have acquired (or been acquired by) other online ventures.
BN: What are the key areas many Nigerian youth can be involved in to make legitimate earnings from internet business opportunities?
LO: Well, we’ve seen some online businesses fail particularly because they didn’t have the right focus and strategy.
One of the best strategies in exploring internet business opportunities is focusing on solving a need or a local problem using existing and emerging technologies while thinking of ways to add value to global consumers.
Simply put, the Nigerian youth should create web and mobile solutions to the problems and needs of the Nigerian audience. The money will come in multiple streams.
Read the full interview here.