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Ten online businesses that can fetch you good money

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By Kate Halim

No thanks to the COVID-19 pandemic with resulted in lockdown in Nigeria, a lot of offline/physical businesses were forced to shut down. Some smart Nigerians quickly embraced the online space to enable them still stay in business while others had to pivot to keep earning. A successful business person can easily adapt to changes.

According to Olufunke Temiye Olushola, a social media marketing and sales expert, the online space has become the best thing to have happened to some businesses.

Olushola told Saturday Sun that to start an online business in Nigeria and profit from it, people should consider some basic things. These things include a good laptop or smartphone, a good internet access, a skill (on any business model of choice), some capital (even though some are free), as well as your consistency and dedication. In the words of Olushola, below are ten lucrative online businesses you can start and sustain with the right skill and attitude online.

ONE: DROP-SHIPPING

This is one business you don’t need to start with money. All you need to do is promote another person’s product for small or massive revenue without having to cope with the delivery. So mainly, you might be acting like a dealer or a middleman. The essential principle of drop-shipping is, you create a retailer shop or any channel where people can easily see and buy the products from you. As soon as they purchase one thing from you, you pay the producer, often for a lot much less than what you bought it for. After that, the producer will ship it to the shopper. You do all this without having any physical contact with the product or buyer.

TWO: VIRTUAL ASSISTANT

Do you know there are thousands of high-profile busy individual, small or medium business who need help with managing their social media account? You can earn up to N30,000 for managing one single account. All you need to do is to acquire the necessary digital marketing skills to help you succeed.

THREE: AFFILIATE MARKETING

Affiliate marketing is an ideal way to make more money and start a business without leaving the comfort of your home. It doesn’t require much money to get started, and you don’t need to have your produce, stock or ship product inventory, or deliver a service.

You are practically paid for referring new clients and customers to other businesses online.

FOUR: ONLINE AD AGENCY

If you have tech skills; building websites or apps, you can start a digital sgency. A digital agency helps businesses to market their products and services online. Having a one-man digital agency is very difficult to scale. You might have to partner with people that have skills you don’t have.  Let’s say you can code, you might need someone great at marketing. This will enable you to work on bigger projects. You will also have to determine the sort of clients you want to work with so you can tailor your lead generation strategies.

FIVE: START A YOUTUBE CHANNEL

Not so many people know this; you can generate money with YouTube. If you are planning on starting a new channel on YouTube, you will need to achieve the YouTube minimal threshold to get monetised, which is 4000 watch hours, and 1000 subscribers within the final 12 months, that is within one year. As long as you keep creating quality content that people are keen to watch and the longer the video, the more cash you will be able to count on to make.

SIX: BLOGGING

If you have flair for writing, you can start a blog on a niche of your expertise and get traffic from search engines as well as social media sites. I would recommend starting a blog on a topic that is dear to you. Once you start getting some traffic, apply for the Google Adsense programme. Once your blog is approved, you can start making money monthly. As your site’s traffic grows, the earnings will grow too.

SEVEN: SELL INFO-BASED PRODUCTS

In this era of people seeking knowledge, if you know something and like to teach people, this is a good business for you. You can create short videos on topics that interest you, such as programming, marketing, graphic design and then upload on online learning platforms like, Selar, Udemy and Teachable. You get paid for each student that enrols for your course.

EIGHT: E-COMMERCE

You can sell things on the internet and get paid. All you need is either website, a timeline or a business page on any of the social media platforms. For the different platform, you need to consistently create content to constantly sell the benefit of your product to attract your ideal audience.

On the other hand, if you have a website or even a WhatsApp for business, you can list the product and start selling it. As you grow the traffic via your content, the sales will automatically grow.

NINE: INVEST AND TRADE CRYPTO-CURRENCY

There is no hot business other than crypto trading right now if you have a great understanding of the exchange market. People make thousands of dollars trading currencies online. It’s not advisable for everyone because of the high risk involved. If you want to start this business then you need to learn this completely and you should always try with small amounts before you become confident to invest larger amounts of money.

TEN: Paid Content Creation

More than ever, the demand for content creation has been on the rise because content is the only source of communication online.

This idea goes hand in hand with blogging. If you are very good at writing then content creation is a great way for you to make money online. If your content is good you can earn good money on each article you write.

In conclusion, there is so much money to be made online with or without money all you need is the right skill, the right product that solves pressing needs, and consistency.

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