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Tuesday, August 2, 2011

Internet Auction

This is another mode of selling online, probably the simplest. In this (Internet selling), what you require includes pictures of the product you want to sell, the product description or sales letter, the minimum acceptable price you will sell, how you will deliver goods sold (e.g. through courier), and how you want your money paid.  All these features are provided on the site, and the auction site owner designs the page and markets your product.  Three leading sites that offer the best mix of features for buyers and sellers are Ebay, WebStore, and eBid.

In Nigeria, for example, online selling is a growing trend; hitherto encountered problems such as how to pay for things and how to accept payments in foreign currencies are no more Circuitatlantic, Surepay and take care of all these issues.

Similarly, Lionsales, provides online opportunities of buying and selling property, which includes lands, houses, office, shops and warehouses. Here, prospective buyers need not scout for Estate Surveyors and Valuers or Estate Agents. What is required is to visit LionSales and explore in hope to consummate a transaction. It is almost always an exciting and rewarding experience.


This series has portrayed the Internet as a medium of entrepreneurship, given benefits that the Internet provides over traditional channels. Prominent among these benefits of Internet transactions are time saving and convenience. However, there are associated risks such as delivery risk and payment risk. Aspiring and burgeoning Netpreneurs are advised to ensure that adequate security is put in place to avoid or check these risks.  The series also considered the Internet and its associated technologies as a form of innovation, breaking the boundaries of time zone and physical distance, yet there are apparent challenges in successfully penetrating the global market due to language barriers, cultural differences, and legal matters, among others. For example, the majority of the users of the domestic portals in the People’s Republic of China, Hong Kong and Taiwan are not bilingual, thus cannot apply the information provided by yahoo in other languages.  This is an emerging issue in Internet entrepreneurship and should provoke the research interest of scholars. 

Finally, beyond these apparent challenges, the virtual landscape offers endless opportunities for the entrepreneur.  You can get started without some of the barriers (such as land, labour and capital) in traditional business.

I hope that this Internet business/e-commerce tips have been helpful?  As always, I look forward to your comments.



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