It is no longer news that the Federal government of Nigeria through the Ministry of Humanitarian Affairs and Disaster Management has unceremoniously exited the first and second batches of the N-Power social investment program (N-SIP). Fascinating news to applicants who have been longing for the opportunity to also benefit from the scheme, but conversely perplexing to the exited volunteers — especially those who are yet to find any sustainable means of livelihood.
So, now that the last allowances have been paid and there seems to be no clear plan for a severance package, what next? How have you planned to survive the impending economic slide without any monthly stipends in a highly inflationary economy with limited job opportunities?
You can begin by rewriting your CV, looking at job ads, applying for jobs, and going for interviews. But I bet you, there is a slim chance of getting a job especially in this period of a global health crisis when most organizations are automating more processes and downsizing their workforce.
Luckily for us, we are now in the internet age. Doing business has become a lot easier. There are many businesses you can star with next to no capital. All you need is your smartphone, and of course ‘data/internet connection’.
Here, I have listed and summarily explained a few of such businesses and how to go about them if you want to make some good money.
Go into affiliate marketing
In the eBusiness world, there is always an opportunity for everyone. If you don’t have any marketable skill or you simply don’t have the time to compile information or create a product to sell to a hungry market, then you can also make money by selling information produced by other people for a commission. That is what affiliate marketing is about. Many people are earning 6-7 figures in dollars every month from affiliate marketing.
Want to start an affiliate marketing business?
First, select a niche you are interested in promoting. Start building a list of people who are interested in your niche. Then you can start promoting other people’s products to your audience and earn a commission for each sale that comes through your link.
In affiliate marketing, the commission you earn is solely dependent on the product you are selling. A digital product may offer as much as 75% commission while physical products usually attract between 2% to 10%. But for a product that sells in hundreds and thousands of units, you can still make some good money out of it.
Create and Sell Online Content
To fit into the modern world economy, each of us needs to be skilled in at least one aspect of life. The future workplace demands creativity and new ways of thinking, and of course, everyone is trying to match up to the new trends. Figures have it that in 2020 more people will develop new skills; in essence, a lot of courses will be purchased online and those who sell these courses would earn some good money.
There is a high demand in different fields for coaches and consultants… most of these are in wellness, fitness, digital skills, and online marketing. These are great ideas for online business ventures! And if you are an expert in any of these fields, You can deliver a service or training course via Tutorial videos, coaching videos, and lots more. Just be sure you solve your clients’ problems and you are in business.
This business idea involves you selling information on a given topic or field as an expert on that niche. If you have sufficient skills or knowledge related to a particular topic, then you are one or two steps ahead in launching yourself into the business of information marketing. For example, there are lots of people who are looking for information on how to trade FOREX and you are an expert in that area. You can compile a step by step guide on how to start trading FOREX. With your knowledge and skills, you can build people up while making some cash along the way!
Start a drop-shipping business
Drop-shipping nowadays has become a very popular business and it’s one of the fast growing sources of income that you can tap into. With drop-shipping, you need no inventory of any goods at all, and you can sell products to customers, set your prices, and promote your brand.
Dropshipping is a supply chain management method in which the retailer does not keep goods in stock but instead transfers its customer’s orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer.
Start a blog
Many would argue that blogging is a saturated business as there are so many blogs out there and much more springing up daily. But that’s not true, and I’m saying this as an expert in this field. Of course, it’s not easy to stand out as a new blogger especially if you lack the skills to create and promote your content. However, most blogs fail not because there are too many blogs out there but because there are too many blogs blogging about the same topics in the same way.
Saturated as the blogging business may seem, some blog niches are still quite deficient in content — and that’s beside the fact that many bloggers aren’t even in the blogging business to make any money. In 2020, there is a difference between professional blogging and blogging for the passion of it. Of course, they will tell you to blog about something you are passionate about but passion alone wouldn’t make you successful.
Want to make money blogging in 2020?
If you want to earn some good money as a blogger in 2020, you must strive to work smarter and not necessarily harder.
First, choose a profitable niche by finding a way to solve problems your target audience is currently experiencing. Then take your time to start creating rich content that appeals to not just your target audience but anyone who bumps into it. Develop a unique way to double-up your reach and be stern enough to keep pushing forward until you start getting positive results. Understand that It would take a while for your blog to start getting good traffic, but if you sink your teeth into it, it might not take that long before you start smiling to the bank.
Become a Youtuber
You can share unique videos on youtube and make a living. Find what your audience loves and make a suitable video. That’s all. You can also create crash courses/tutorials to teach a skill you know or help people solve a problem.
Fill the comment box below if you are interested in learning more about starting and monetizing a YouTube channel.
Start an eRetailing store
Do you have a product you have created or do you sell products for other people or companies? You can create a store online where everyone gets to see your items. Trust me, you can make more sales from eCommerce than you have ever imagined.
Become an online researcher
Many individuals or organizations do not have the time to carryout researches by themselves, so they engage others who are willing to research for them at a fee. If you are a good researcher, this is a business opportunity for you.
Podcasting is fast becoming a big deal. It is kind of easier explaining things to a person over voice than putting them in writing. If you have something important to say, you better start selling it.
Become an eEstate agent
The real estate business like most other businesses in Nigeria seems saturated. There are countless real estate agents doing exactly the same thing in the same places. However, you can still make some good money in this field if you are standout by making your service unique.
Here are two things you must do to succeed in the real estate business;
- Start with a small area, a State, Local government, or Council.
- Go digital. Use the internet, social media, and the likes to do your business.
What are you waiting for?
We have discussed these few online business opportunities. But there are many more we failed to mention. Look around you, and find that product, service, or knowledge you can market online and kick-start your brand. There is no doubt about making money on the internet so long as you are persistent, consistent, and unique. Though it may not be all easy in the beginning, it gets better with your mastery of the business.