Fatimo Azeez
New member
What to do with a N500,000 capital.
[This is for those who lost thier eCommerce business and they are trying to bounce back]
For context: You already know how eCommerce work before your business crashed. You can run ads too.
Now, you have N500,000.
How should you spend it ?
1. Import 50 units of product from China, focus on products that cost less than 1 dollar. [Importation and shipping will cost you like N150,000]
2. Ensure that the product you are importing is a best seller with very little competition in Nigeria + plenty creative potentials [this is where research comes in]
3. Distribute the products to 7 states alone. Lagos, Abuja, Porthacourt, Edo, Delta, Ibadan and Anambra [This will cost you like N50,000]
4. Exclude other states you don't have products in, in your Adset.
5. Buy domain and hosting and design your sales page, using a very good template
6. Use AI for image and video creatives (you don't have the capacity yet to pay creators). You should also make lots of faceless videos.
7. You are left with N250,000 thereabouts
Invest it in Marketing! N25,000 per day.
5 Campaign
5 Adset
5 Ads
N5,000 per asset.
8. Don't employ a staff yet.
Run ads, call customers, and do all administrative tasks yourself.
9. Reinvest all income back into the business but make sure you take a salary to survive. Don't touch anything outside your salary.
[This is for those who lost thier eCommerce business and they are trying to bounce back]
For context: You already know how eCommerce work before your business crashed. You can run ads too.
Now, you have N500,000.
How should you spend it ?
1. Import 50 units of product from China, focus on products that cost less than 1 dollar. [Importation and shipping will cost you like N150,000]
2. Ensure that the product you are importing is a best seller with very little competition in Nigeria + plenty creative potentials [this is where research comes in]
3. Distribute the products to 7 states alone. Lagos, Abuja, Porthacourt, Edo, Delta, Ibadan and Anambra [This will cost you like N50,000]
4. Exclude other states you don't have products in, in your Adset.
5. Buy domain and hosting and design your sales page, using a very good template
6. Use AI for image and video creatives (you don't have the capacity yet to pay creators). You should also make lots of faceless videos.
7. You are left with N250,000 thereabouts
Invest it in Marketing! N25,000 per day.
5 Campaign
5 Adset
5 Ads
N5,000 per asset.
8. Don't employ a staff yet.
Run ads, call customers, and do all administrative tasks yourself.
9. Reinvest all income back into the business but make sure you take a salary to survive. Don't touch anything outside your salary.