Are you interested in starting your very own online business or just looking to expand your income stream? If yes, then carry on reading to learn 10 online business ideas to start in nigeria 2021.
The rise of the digital age has truly presented as with a lot of opportunities that was never available to our predecessors.
Last year, covid19 has especially made a lot of us to rethink how we can secure our future income. 9 to 5 jobs cannot be 100% depended on to support you and your family, or might not even be enough at all.
Also, with the increase of unemployment and the direction that the country’s economy is heading, it is only wise that one find other ways to generate income. Creating other income streams (side hustles) is a must to secure yourself against future economic downfalls.
Creating a new business online in Nigeria demands very little risk than throwing your money into unreliable local businesses that can either go right or otherwise. But when your business is based online, you are likely to reach more potential customers, work online from the comfort of your home and make money online without huge overheads. Almost anyone can start an online business and get it up and running in a matter of days. All you need is to learn a skill or utilize the skills you already have, basic communication and numeric literacy and a device with an internet connection, voila! you’re good to go.
Are you ready to start your very own business online, that’s going to be bringing you up to 7figures monthly passively?
Here are 10 online business ideas and models you can start in Nigeria 2021:
1, Sell Online Courses
Selling online courses is one of the most profitable market online today. The e-learning market was worth $107 billion in 2015, $190 billion in 2018 and is expected to exceed $300 Billion by 2025 (E-Learning Market Size By Technology)
Online courses are gradually filling the gaps of knowledge. Most people today seem to prefer the ease and flexibility of learning from their own homes, getting rid of the complexities of physical classes.
when it comes to creating courses, you have many options to choose from.
You can create a course on topics you have expertise in. For example, let’s say you’re an expert in flying drones. You can create a mini-course on drones, how to fly them, maintenance, choosing the right one, tricks and so on. Then you can host that course up on a hosting platform like systeme.io, market it on your website (or other platforms) then sit back and watch as you begin to earn passively.
Another option is to reuse old resources, which can include your:
- Old blog posts
- Video/Audio recordings (webinars, speeches, podcasts and so on)
This is another profitable business you can start online in Nigeria 2021. A web developer is someone who can create a website from scratch, start to finish. To be able to become a web developer, you will have to get learn coding.
With some basic web dev skills, you can begin to earn a reasonable amount of money. But in order to make it a huge profitable business, you’ll need to learn everything on web development and it takes time.
As a web developer, you can literally work from anywhere. You’re not tied down to one location.
3, Start Blogging
Blogging is another lucrative online business you can start. It is can very profitable when done right.
It will only take you an hour to set-up your blog and will only cost you less than a $100 for domain and hosting. Do your keywords research and start posting content.
With a little promotion on platforms like Twitter, Facebook, Linkedin, Reddit and eventually free traffic, you should begin pulling in 30K to 50K unique visitors a month.
You can Monetize your blog with Google Adsense. In the first few months after your blog takes off, you can begin to see $10 (N5k) to $50 (N25k) a month, but as your traffic grows, this figure could grow up to $1000+ (N500k) a month.
Also, since there’s a threshold you need to reach before you can begin placing ads with Google adsense, you may utilize affiliate marketing and begin earning even before you start placing ads with adsense.
Eventually, you could flip the website for 30x the monthly revenue it generates. Lets say, your blog generates $2000 a month, you can potentially flip it for $60k.
4, Virtual Assistant
You can start a business online as a virtual assistant and get paid on a daily basis. Virtual assistants carry out a variety of tasks that a traditional assistant would normally do, including making handling emails, paying bills, or making calls.
It is an online job that has been growing in popularity and is in high demand.
As a virtual assistant, you typically work from home or wherever you have an access to Internet connections. I know you might be wondering, How much can you actually make as a virtual assistant? It usually depends on your level of expertise, overall experience and also, the number of tasks.
Virtual assistants usually find jobs on platforms like Fiverr, upwork, freelancer among others.
5, Affiliate Marketing
Affiliate marketing is one of the simplest and cheapest business models you can start to make money online. As an affiliate, you receive commissions for selling products for other companies, be it on their own site or through other channels. The best part is that you don’t have to create, handle or deliver any products yourself, all you do is just sell other people’s products. These products could be digital products such as softwares or ebooks, or it could be physical products like supplements, gadgets and so on.
There are affiliates that earn up to $30k (N15m) a month, which is very doable if you stay dedicated and hardworking.
You don’t need a huge capital to start affiliate marketing. Check out my affiliate marketing guide on how you can start your affiliate marketing business.
6, YouTube Channel
You can make so much money from starting a youtube channel. You can potentially earn thousands of dollars on a monthly basis posting videos. you can make your channel about anything, as long as there is an audience for it out there. The more your traffic grows, the more ad revenue you’ll receive from YouTube and potentially, from third party brand deals.
Additionally, starting a YouTube channel is the relatively cheap. You don’t really need to go and get yourself an expensive equipment. You can literally just use your iphone or basic SLR camera, a video editor to cut and compile your clips.
7, Become An Influencer
An Influencer is someone who has a huge audience that trust and look up to them and inspires them to try products or services.
The term was coined around the late 2000s when YouTube became huge. People started to grow millions of followers, and big companies began to notice. And before you know it, youtubers and Instagramers were banking millions of naira. Many companies go to them because of the loyal and close connections they have with their audience.
No matter what niche you are in, as an influencer, you have the unique opportunity to make money just from being yourself. It is truly a lucrative and enticing business opportunity that you can give a try.
You don’t have to be huge on social media to start your business. All you need is, to have some loyal and dedicated followings.
8, Social Media Manager
Alot of times, business owners are too occupied or busy to spend a lot of time on establishing their social media presence. So many resort to getting social media managers to help them run their social media accounts and grow their presence.
As a aocial media manager, you can effectively guide them in the right direction on ideal tactics, helping with schedules, and posting content regarding their target audience. Hence, as their business grows, so will yours.
Freelancing is an incredible way for experts in their respective skill niche to help a variety of clients with tasks and get paid.
There are Several freelancing platforms that let businesses that need help to list their tasks or projects. Also, as a freelancer, you can offer proposals, ideas, or bids, whereby the buyers can easily choose what they need and hire you.
On websites like Fiverr or Upwork you can find just about everything, including writing content, creating graphic design, programming, simple data entry and so much more.
Alot of the work that copywriters these days focuses on sales-oriented content. It involves captivating attention, building traffic, and getting readers to act.
The aim of the work might be to generate clicks or to enable readers to purchase a product. Whatever the case may be, the quality of the task creates a noticeable distinction. Companies want the best of the best, so providing the best of your skill can result in even more opportunities.
Copywriting gives you a real money-making opportunity that only gets bigger as time goes on. Not just that, but you get to have absolute control over how, where and when you work.
Alot of copywriters work from home and on their own time. You can choose to work as little or as much as you wish. Also, you can work from anywhere as long as you have an Internet connection.
Altogether, the Internet itself is flooding with loads of business opportunities. Can one of these online business to start in nigeria work for you?
Put in the time and effort and see where it steers to. There’s definitely an option here for everyone. Whether you want to get some extra cash or just want to earn passively, there’s lot there on my list of 10 online business ideas.
I hope this list has given you some motivation to start your online business and build a profitable online business. Thanks for reading!