Last updated on January 29th, 2014 at 05:47 am
Frankly, there are several ways of making money online in Nigeria. While some of these many options will fetch you crumbs, others will fetch you real cash.
However, most beginners face one problem when venturing into online business — they’re unable to find the right business.
Sadly, while searching for the best option, some newbies fall victim to scammers who promise overnight riches or thousands of dollars at the click of a button. After being scammed, these poor beginners form the impression that online business is all a hoax.
Are you just going into online business? Or have you been scammed before, and you’re now searching carefully for a credible option? This post is for you.
Here, you’ll discover six realistic ways of making real money online from Nigeria. So, if you’ve been looking for proven, risk-free ways of making cool cash from the web, you’re on the right page.
Now, let me reveal these lucrative options:
1. Affiliate marketing
This is one of the killer money-spinners online. Most bloggers and online entrepreneurs who pocket 4-5 figures monthly make the bulk of their income from affiliate marketing.
What is affiliate marketing? It is simply a marketing practice, in which a business rewards you for bringing customers (through marketing its products or services).
Here’s a better explanation: You register to become an affiliate with an online store, such as Amazon or Clickbank. Next, you set up a web page or blog, on which you advertise Amazon or Clickbank products. Each time a customer buys a product through the link or banner displayed on your web page, you get a commission on the sale. That’s affiliate marketing, simply put.
So, the more traffic you attract to your web page or blog, the more people will buy the products you market, and the more profit you make.
If you have any skill, such as writing, website design, programming, graphics design, video creation, and so on, you can advertise yourself online and attract clients who’ll pay for your services.
To attract and convince high-paying clients, you must start by building a compelling and professional online portfolio. Without one, there’s no way you can convince clients to hire you.
3. Creating and selling your own product
If you’re a very good writer, you can write an ebook. If you’re a programmer, you can develop your own application. If you have any other skill or knowledge that you think people would like to learn, you can package it into an information product and sell for profit.
Your information product can be in any format — PDF, MP3, Video, etc.
4. Coaching and online tutorials
If you have any skill or knowledge that you think people would be interested in, you can offer online coaching or tutorial classes and charge your “students”. (Of course, you must learn how to use Skype and how to organize webinars).
The more you can convince people that you’re an expert, the more interested students you’ll attract, and the more money you’ll make.
5. Website flipping
Liken this business to real estate developing, and you’ll be right.
Here’s what flipping entails: You set up a website or blog and then develop it by stuffing it with high quality articles and building backlinks to it. Your ultimate goal is to build it from scratch and turn it into a high traffic blog, which has a high profit potential. Once you’ve achieved this, you can then sell it to interested buyers at a huge price.
Buyers pay as much as millions of dollars for websites. The price depends on the profit potential.
This is the platform on which all other online businesses can stand firm. To make maximal profit from affiliate marketing, freelancing, selling your product, and offering online tutorials, you’ll need to run a blog — one centered around your chosen business. Having a blog helps you build trust and establishes you as an expert in your field.
Now, I’ve not said you can’t make money from other online businesses without a blog. Of course, I’ve seen affiliate marketers making huge figures with static one-page websites. But having a blog is much better, I insist.
Even if you’re not promoting any other business with your blog, blogging alone can be a great source of income. If you build a high traffic blog, you’ll make lots of profit from pay-per-click ads (Adsense, etc.), sponsored ads, sponsored posts.
I stated earlier that there are several of online businesses you can run in Nigeria. But I’ve mentioned only these six for 4 reasons:
- They require very little capital (so if you lose interest along the line, you’ll have very little to lose)
- They are risk-free
- They’re very easy to venture into
- They can make you rich (but not overnight!)
So, take action now. Choose one of these businesses (or a combination of more than one), start building it, and you’ll achieve your dream in the end.
I’m stopping here for now. In subsequent posts, I’ll be discussing each of these businesses in full detail. My aim of creating this blog is to help Nigerian beginners make money online. So, I hope to achieve this with time. Just stay glued to this site, and you’ll learn a lot.
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What’s your choice?
Which online business are you thinking of venturing into? Why have you made that choice? Share your plans in the comments. Also, if you have any questions, ask in the comments section.