Nothing is sweeter than sleeping, waking up and realizing that through the night (while you actually snored away), you actively made money!
Or, getting through a busy day and realizing (just before you sleep) that you made some money online when you were busy with some other tasks of life as academics or the beach.
Believe me this feeling has no duplicate on this earth!
The challenge however remains that, 99% of Nigerians who hold such dreams close to their hearts and constantly wonder when it would become reality are utterly disappointed at the end.
Yes – you read that right: 99% of Nigerians who set out to make money online fail flat and wind up making $0!
Or, if you are in love with the Naira, #0!!
Of the 1% that actually see the money, only about 0.1% make more than $100 monthly and go on to earn $1000 or more on a monthly basis!
This is saddening, no doubt.
However, the Nigerians who make up the ‘elite’ 0.1% of folks making a killing online did not start all glorious. They were once amateurs – just as you are today.
If joining this elitist group of Nigerians who are financially free means anything to you, this is your best chance at getting the basics.
Before I launch though, let’s take a good look at some important issues first: the unique challenges that you’re bound to face as a Nigerian when you decide that making money online is what you’d rather do.
Unique challenges Nigerians face when trying to make money online
In an attempt to make money online in Nigeria, Nigerians are faced with these myriad of challenges. Usually, success in the online business world depends strictly how these challenges are navigated and brilliantly conquered at the end.
1. Non-admission of Nigerians to certain lucrative online programs
Some programs that Nigerians would have loved to explore do not entertain Nigerians, outrightly. Such programs include ClickBank and a horde of other options reserved for the markets of Western Europe and North America. This challenge can however be surmounted by focusing exclusively on offers that accept and welcome Nigerians, e.g. The Amazon Affiliate Program and Google Adsense.
2. Payment through channels that are inaccessible for Nigerians
Some of the programs that accept Nigerians also sadly insist on payment options that are not open to Nigerians. Such options include any online business model that insists on deploying Paypal as the principal means of payment. To navigate this challenge, opt only for programs that you can be paid via a payment system that is accessible to Nigerians, e.g. Payoneer.
3. Power challenge in Nigeria
Power challenge is still a huge challenge in the country. This has made the reality of 5 hours power a day seem like the best thing that has ever happened to any Nigerian. Unfortunately, such meager numbers will not make for a thriving online business – especially for one who is just starting up and without the means of alternative power options. To overcome this challenge, kindly ensure that you get a power generator (either solar or petrol powered). If you cannot afford these, work out an arrangement with a business center owner and use his/her premises (and power) for your online business activities till you get your feet firmly on the ground.
4. The “Thomas” in Nigerians
Finally, Nigerians in general are still critical and highly skeptical of anything ‘online’, thanks to the recent MMM scam that ravaged the country and scammed people in their thousands. Accordingly thus, you’re less likely to get support for your online business either financially or morally from financial institutions, friends and family. Here, your best option is to ignore the negativism as much as possible while trusting completely in your guts. Usually, perspectives change when you make the first $1,000!
Having taken a quick look at the challenges you’re likely to face online in Nigeria or are already facing and their smart, brilliant solutions, what online business options are likely to ensure that you belong to the .1% of Nigerians that actually make an income online in Nigeria via the honest route?
Latest online money making opportunities in Nigeria
The business models listed and explained below are not strictly speaking, ‘latest’ or the newest thing(s) on the block.
However, as I type, they are the ‘surest’ – meaning that, going with them and actually ensuring that you follow up diligently will certainly leave you with a guaranteed income stream every month.
I may have even written about one or two on this very site before. However, I’ll be updating such knowledge with fresh bits of information that will make the whole concept more worthwhile and importantly, worthy of your time and efforts.
Freelancing certainly tops on the list of the options open to Nigerians to make money online, legally today.
This is so because it is relatively faster, easier and does not need any special knowledge aside the mastery of the English Language and one’s ability to meet deadlines.
So easy is it to make money from this model that I actually call it money on demand.
To set up shop as a Nigerian who is only starting out, kindly set up a Fiverr account and advertise your freelance writing services. To get a clue how you’re supposed to do this in the right manner, take a look at other similar offers and see what they’re doing that makes their offers so attractive and conversion worthy.
While you’re not allowed to copy other seller’s gigs verbatim, taking a look at what others are offering is generally allowed and is a smart way to get a hold of how the world of Fiverr runs.
If you are however not a complete beginner to the online world, I’ll advise that you ditch the idea of working on Fiverr and instead consider setting up a self-hosted WordPress site for yourself; presenting yourself to the world as a professional freelance writer.
As a professional – who has a standard website emphasizing the fact that you’re a freelance writer for hire, earning upwards of $1,000 monthly will be a piece of cake if you are dedicated and follow the rules.
If you’re looking to make money as a freelance writer in Nigeria without having to struggle too much to achieve that, this ebook will help you.
Badass pro tips to make freelance writing worth your while
- Selecting a designated niche will get you clients faster and ensure that you charge more for your work than being a ‘general master’ of all.
- Guest posting on authority sites (in your own chosen niche) makes you appear as an authority fast and ensures that you command good rates quickly.
- Working with foreign clients should be your target. This is because they usually pay better than local clients.
- Always deliver your work on time and ensure that you understand a gig’s details before proceeding to start work on it.
2. Affiliate Marketing
Affiliate marketing is the art of helping sell the products/services of another person for a commission, often pre-agreed.
This model of making money online is akin to having your own personal ATM machine where you withdraw every once in a while.
However, unlike freelance writing above, affiliate marketing needs a self-hosted blog and cannot be carried out on a platform that you do not own as a person.
Being a performance based online business model, commissions are only paid on conversions – actual sales that happen by means of your direct efforts.
To make these sales happen, you must write content that actually inspires sales: recommendations, reviews, comparison posts and ‘best of’ entries while ensuring that you use your tracking enabled links so that you’ll be credited with any sale – if and when eventually, it happens.
Amongst Nigerians, the most popular of these affiliate sales outlets remains Amazon Associates, JVZoo and Market Health. However, there are less loved and recommended options run majorly by Nigerian hosting and ecommerce sites that you may wish to try (understand though that, I do not recommended any of them).
If your dream is to start making cool money as an affiliate marketer here in Nigeria, then click here to learn how.
Badass pro tips to ace the affiliate marketing world
- The surest way to smile as an affiliate marketer is to avoid gaming the system in any way and simply following the rules. Remember, no one ever successfully games the system and gets away with it!
- Organic traffic still remains the best converting traffic type for affiliate sites and marketers. Learn or master SEO in order to dominate the SERPs and make the organic traffic magic happen.
- Finally, sales are made most when you address real problems that people have and are looking for solutions all around. Never forget this bit in a hurry.
3. Ebook Sales (information marketing)
Of late, this method of making money online in Nigeria has become stale – having been thoroughly polluted by less than sincere and outrightly dubious elements.
On the international scene too, the eBook market has saturated – thanks to the fact that almost everyone today has a title on Kindle or on one marketplace or another.
For business, this does not look good – especially if you’re a Nigerian (who can write awesomely) and are looking to make good money with the model.
To overcome this challenge as a Nigerian and make the sale of eBooks lucrative and worthwhile as a viable business venture, you must look at it from a completely different perspective – which in this case, will involve recruiting affiliates to actually help you perfect the sales while you watch the commissions roll in day in, day out.
The smartest platform for this model is JVZoo and the platform, once you register, is comprehensive enough to ensure that you master the model even as a complete newbie.
You can learn how to become a pro information marketer here in Nigeria by reading this post.
Badass pro tips to master the ebook sales world
- For eBooks to sell well, they must be properly written and the subject matter thoroughly researched. Do not make a mess of your business with PLR trash or humiliate your affiliates with subpar quality.
- Set the commission rate for affiliates at 70% or above. While this may seem huge, it is actually nothing, especially when you understand that you can price your book in the manner you please and need not do anything (more) once you upload your work on JVZoo (or a similar platform that allows affiliates to do all the hard labour of marketing for you.
4. FBA (Fulfilled By Amazon) Business
This is a mine of money that many Nigerians have no idea actually exist.
Fortunately, it does and can as a matter of fact, fetch you more money as a Nigerian that you have ever imagined in your wildest dreams!
This is how it works in super simple terms:
- You find a factory on Alibaba (the parent company of your favourite Aliexpress) producing what you want to sell on Amazon.
- You open conversation with the company and get it to custom design your desired products or modify already designed units (according to your tastes).
- Use a freight forwarder to get the manufactured items to an Amazon Fulfillment Center.
- Leave Amazon to handle the rest and watch the money come in even when you’re on vacation or sleeping J
With these simple steps, you’ll have your products now directly listed for sale on the earth’s number retailer of consumer goods.
When this happens (and you’ve done your homework well), you’ll laugh at oil workers to their faces and never really consider any form of offline work again in your entire life.
To get started, this article by someone who is already into this model of business will put some perspective to the model for you as a Nigerian. However, it is this and this articles by Amazon themselves that will overall, put everything into perspective and get you fired up to make serious money!
Badass pro tips to rock FBA
- If your selected product is badass enough, you can ship some quantity over to Nigeria and sell on the local ecommerce portals operating in the country directly, using the same principles described above.
- Ensure that you ‘manufacture’, ship and sell only the greatest products that you can find. If you carry the silly Nigerian mentality of selling fake or substandard products on Amazon, your business will be ruined by horrible reviews and plagued by returns and you’ll only have yourself to blame for your eventual monumental failure.
- Finally, kindly ensure that you understand what is actually in demand on Amazon (by its customer base) before you proceed with this model. A good tool to help with this is Merchant Words.
5. Site Flipping
This is the very last option of making money online in Nigeria on a profitable basis and also my least recommended.
It is my least recommended because I sincerely don’t believe in selling sites that are already making money (a precondition for a site to qualify for sale under this head in the first place). The summary of my thought on this regard is: why sell an ATM machine?
However, if you have urgent need – and can use the lump cash that usually accrues from the sale of a website, then, why shouldn’t you proceed?
Marketplaces like Flippa provide excellent guidance on this and the instructions there are as easy as pronouncing your own name. However, if you’ll appreciate a working guide for 2017 written from the perspective of another blogger/webmaster, this resource will fill that need in an awesome manner.
Badass pro tips to really make site flipping fun & easy for you
- Only a site that is already making money can be sold – fast and profitably. Accordingly thus, ensure that any site you wish to sell is already monetized and making an income.
- Usually, a site is worth between 10x – 20x its monthly income, minus expenses. This means that, a site bringing in a profit of $100 monthly can be sold between $1,000 and $2,000 – depending on your bargaining power and other exclusive efforts such as an impressive social following or list, a proprietary theme or customized plugins. Be properly guided if you desire to make the big bucks.
- The most important traffic considered when flipping sites is organic traffic. If you’re going to be successful with this online business model as a Nigerian, you must master SEO and play white hat as your business life actually depends on it. Ignore this tip at your own peril!
- Finally, there are 2 categories of site flippers: the occasional webmaster who needs to sell a site for a private reason and the professional flipper whose job is to buy sites, improve them and flip them over. While both models serve essentially the same purpose (quick bucks for you), as a beginner, it is advised that you build your sites, rank them and sell them before acquiring others for onward resale. This way, you will get a feel of the entire model before being intimidated with the process when you go full blown pro J
Before you implement these ideas…
Tips (and hacks) such as these are usually loved and inspire a lot.
However, before you get too excited, rush out and mess yourself, here are 3 important super tips that you need to keep close to your heart as you attempt (or rather, before you attempt) any of these online business models.
First, the online world is ruled by awesome, badass writing which is usually of the copywriting variant: writing to persuade your audience and probe them to take a decision that you desire (and one that will ultimately serve your end: conversion).
This implies that you must be a great – and smart writer or at least, have the sense to hire great and smart writers.
Don’t imagine that copy and paste is going to work it – especially if you’re going to be flying international and addressing the entire world from your Nigerian platform.
Never forget this.
Never also forget the fact that great writers always come at a steep price: be ready to pay their fees if you cannot write in a brilliant and persuasive manner yourself.
Second, online business is like any other business model you’ll find, offline. The only difference is that the internet is your medium here and the whole world, your potential customers/clients.
Accordingly thus, all the rules that apply to the normal brick and mortar business also apply – except as regards flexibility and the reality of always being online and catering for the whole world in the process.
Do not thus imagine that online business is a get rich scheme or an arrangement for perennially lazy folks to make money!
As a matter of fact, you will find out that you still need to work your ass off and work well harder than the regular 9 – 5 office folks (for at least the first few years) if you’re going to make anything meaningful out of your online adventure.
Also understand that the money may take time and only comes as a reward for your hard work, smartness and absolute determination!
Third and finally, understand that those who chase after every shinny object online never make anything meaningful at the end of their (usually) fruitless exercise.
To reap the benefits of any online business model, be prepared to stand by your chosen business model long enough to thoroughly master and dominate the model before either discarding it for another or adding another option to your portfolio.
This process of sticking to a model may very well take upwards of 2 years (hands-on) if you’re to really master a model and develop the capacity to thoroughly dominate it (for business profits).
Sadly, many Nigerians are in a serious haste to ‘hammer’ and cannot afford this level of patience and business dedication.
However, if you must succeed online, you must prove to be the exception – or face the doom that has come (and will continue to come) for the plethora of Nigerians who have attempted online business in the past and failed woefully!
Making money online as a Nigerian, living in Nigeria is not rocket science. As a matter of fact, it is so simple and straightforward that a mere 16 year old can actually do it successfully – if he/she is guided and has some business sense.
What, however, makes many Nigerians to fail in it woefully remains:
- The false idea that it is easy money and should be fast.
- Lack of a basic understanding about how the model works. This stems from lack of mentorship or proper research.
- The sad practice of cutting corners popular with many Nigerians and
- A subtle preference for office jobs (termed ‘real jobs’) over a flexible internet business that can be run from anywhere in the world.
As a Nigerian, if you read this article religiously, are dead serious about making a steady income for yourself and your family (going forward) and are not tied to the 4 ‘chains’(shared immediately above) that limit the progress of Nigerians in the sphere of online business, the sky will certainly be your starting point!
If you have any question or would appreciate any clarification, now is the time.