Are you in search of a profitable online business to start today in Nigeria with no money? Then this post is really for you.
You are leaving a lot of money on the table if you do not have an online business. People devote more time online than anywhere else, according to various research.
If you desire to start your new online business, there is no better moment than now.
So, let’s dive right into it.
Table of Contents
What Is Online Business?
In a nutshell, an online business is any lucrative activity performed over the Internet that is supported by the desired niche.
Tips To Start An Online Business For Beginners In Nigeria
- Discover a niche: When selecting a niche, you have to select the one that catches your passion and interest. It must resolve issues for your audience and you need to discover your special selling point.
- Perform detailed research: At this time you’ve found a niche, I always recommend performing a well-detailed study or research about your market, competitors, and your target audience.
- Study online business laws: Legal issues may appear to be the greatest time-consuming aspect of starting a business. However, understanding internet business rules prevents your company from collapsing. Each nation and state has a unique set of guidelines and laws. Always double-check information with the appropriate authorities. Also, if you can arrange it, get competent legal assistance.
- Select the appropriate platform: Consider your niche, your company needs, and the locations your target audience prefers when looking for the best platform for your online business. I recommend going for a website and social media.
- Launch your online business: Organizing for the launch is the next phase in your company strategy. This includes testing and maintaining your business website.
- Expand Your online business: Once you have everything in place, you can begin directing traffic to your business site. The recommended channel for driving traffic to your site is SEO (Search Engine Optimization), Paid Ads, Email Marketing, and (SMM) Social Media Marketing.
Benefits of having an online business
- Simple and quick banking transactions: There are a lot of payment services that allow you to receive a transaction from clients directly to your bank account. Your international clients may effortlessly pay directly in their currencies since online payment systems instantly convert their currency to the currency that you will receive.
- It is flexible: Unlike local businesses, where someone must be available at all times, online businesses enable you to operate your business from anywhere and anytime you desire.
- Global market: Online business may help meet customer demand by enabling entrepreneurs like you to sell your goods globally without having to establish a physical vendor there.
- Low operating expenses: Operating your business online doesn’t demand the purchase of a warehouse, vehicles, and employees.
- 24/7 Accessibility: Through the use of a business website, you can allow your customers to access and learn more about your services at any time and from anywhere around the globe.
What Are The Best Online Business Ideas For Beginners In Nigeria?
These are the top online business ideas available. Below is a list of Nigerian online businesses you could start nowadays and generate income with.
1. Blogging
Blogging is one of the finest online businesses to start. Anyone may start it and make money. In a nutshell, blogging is the self-publication of writing, articles, and other media on the internet.
How To Build A Blog
Building a profitable blog involves these steps:
- Discover a niche: You need to select a niche that captures your interest and passion.
- Select a name for your blog: To select the name of your blog, I recommend you select a name that is related to the niche you have selected.
- Host your blog online: To publish your blog online you need good web hosting and a domain. If in case you don’t have the money to purchase web hosting, I recommend you first start with a free web hosting plan.
- Build and design your blog: Pick a theme and design it the way you know will be attractive and engaging for your audience. I recommend choosing a light theme so that your site will be fast.
- write and publish your first blog post: You are required to write an amazing article that will be engaging to your visitors. I recommend writing a wonderful title and an engaging meta description. Don’t use clickbait because your audience will leave if your blog post doesn’t help them with their problem, which will increase the bounce rate of your site.
- Promote your blog: There are four best ways to promote your blog, This includes: SEO, Email marketing, Social media, and paid Ads.
In case you are in need of a great hosting service or domain for your site.
Also, Read
How To Monetize A Blog
There are several methods to make money while blogging.
- Affiliate Marketing: This involves the process of inputting your affiliate links in the article so that if a visitor clicks on the link and purchases an item or service you get a percentage of money.
- Adverting in your blog: You can register with some platforms such as Google Adsense. They display ads on your blog so that if a visitor clicks on an ad they reward you with money depending on your CPC and CPM. You can also sell ad spaces on your blog.
- Offer Subscription: You can add a subscription to your blog making your audience pay to have access to your blog content.
- Sell goods and services: You can decide to sell digital or physical products.
Pros and Cons of Blogging
| Pros | Cons |
|---|---|
| A blog provides a purpose for visitors to come to your website. | An excellent blog needs regular updating. |
| It is simple to start a blog. | Becoming overly honest might lead to problems. |
| It can aid in the development of a feeling of unity. | Unusual technological challenges may necessitate more time. |
| The reach has the potential to be enormous. | It might be difficult if writing does not come naturally to you. |
| There are several methods to generate money. |
2. Affiliate Marketing
This is one of the most popular online businesses to do in the world today. In a nutshell, Affiliate marketing is a means of earning a commission by recommending a product or service manufactured by another merchant or advertiser.
How Affiliate Marketing Works
Affiliate marketing requires recommending a product or service by posting about it on a blog post, website, podcast, or social media. The affiliate gets a commission each time someone buys using the unique link linked with their referral product.
Types Of Affiliate Marketing
- Unattached Affiliate Marketing: This is a type of marketing in which the affiliate has no relationship or authority with the product or service being promoted.
- Related Affiliate Marketing: As the term indicates, related affiliate marketing comprises the advertising of items or services by an affiliate who has a connection to their promotion.
- Involved Affiliate Marketing: This kind of marketing builds a stronger bond between the affiliate and the product or service. In this case, the affiliate has authority over the product or service being promoted.
Affiliate Networks And Programs To Register To Make Money Online
What are Affiliate Networks?
Affiliate networks act as intermediaries between publishers and merchants that offer an affiliate program for their products or services. Affiliate networks are the simplest method for a rookie to get started with affiliate marketing.
Best of Affiliate Networks to Make Money in 2023
- ShareASale: ShareASale is an affiliate program that was obtained by AWIN Group in 2017. There are approximately 16,000 merchants to select from in the marketplace. So, regardless of your niche, there will be a product category or affiliate product for you. With such a diverse selection of merchants comes a diverse range of commission charges.
- CJ: CJ known as “Commission Junction” is also one of the most significant affiliate networks on the market. To become an official member, you must first fill out your personal information and add your promotional property, such as your website or social network profiles.
- Avangate Affiliate Network: This is one of the newest networks on this list, having been formed in 2006. If your specialization is centred on software or digital items. Promoting Avangate Affiliate Network is a way of making money online.
What is an Affiliate Program?
In a nutshell, An affiliate program is a platform in which a merchant pays another publisher or the affiliate a commission for referring visitors and/or sales to them.
Best of Affiliate Programs to Make Money in 2023
- Systeme.io: Systeme.io is a quick and easy-to-use marketing solution that includes everything you need to start, grow, and expand your business online. Systeme.io pays its affiliates 40% of every sale.
- Whogohost: Whogohost is a web hosting provider, They provide you with all the recommendations needed for your business website.
- Semrush: This is an SEO software required for your website to rank on search engines such as Google, Bing, Yahoo, and Yandex.
Ways Affiliate Programs Pay Their Affiliates
- Pay per sale: This is when affiliates earn a commission for every sale that he/she makes.
- Pay per lead: This is when affiliates get a commission on each lead they bring to the merchant.
- Pay per click: This is when affiliates get a commission on each click that leads to the merchant.
- Pay per action: It pays you a commission for performing a specified action, like signup or clicks.
Pros and Cons of Affiliate Marketing
| Pros | Cons |
|---|---|
| It’s simple to get started. | Paid on a commission basis. |
| The cost is little. | Great level of competition. |
| Earn while learning. | Patience and hard work are required. |
ALSO, READ: BEST CPL AFFILIATE MARKETING, NETWORKS, AND PROGRAMS
3. E-Commerce
E-commerce is one of the largest online businesses to start. E-commerce known as Electronic Commerce, is the buying and selling of goods and services, to businesses and individuals over the Internet.
Types Of E-commerce
- B2B: B2B known as (Business-to-Business) is the electronic buying and selling of products, services, or data among businesses.
- B2C: This is known as (Business-to-Customer) it refers to when businesses sell goods, services, or data to customers directly.
- C2C: C2C (Customer-to-Customer) is a sort of e-commerce in which customers trade items, services, and information online within themselves.
- C2B: C2B (Customer-to-Business) is a sort of e-commerce in which customers make their items and services accessible online for purchasing by businesses.
- B2A: Business-to-administration (B2A) refers to the online buying and selling of products and services between businesses and public administration entities.
- C2A: Consumer-to-administration (C2A) refers to the electronic buying and selling of products and services between customers and public administration agencies.
Best E-commerce Platforms For Beginners
- Amazon
- eBay
- Alibaba
- Jumia
- Konga
- Rakuten
Best Vendors Who Provide E-commerce Platform Services To Customers Who Run Their Personal Online Shop Websites.
- Shopify
- Ecwid
- BigCommerce
- Squarespace
- WooCommerce
Pros and Cons of E-commerce
| Pros | Cons |
|---|---|
| Cheaper workers | Buyers are unable to test before purchasing. |
| Global sales. | Ecommerce is a competitive industry. |
| Popular products are easily shown. | When a website malfunctions, nobody can make a purchase. |
4. Freelancing
This is a lucrative online business that is underserved in Nigeria. Freelancing is a service agreement career in which the individual uses his talents and expertise to deliver services to a variety of clients rather than being hired by an organization.
Best Freelancing Website For Beginners:
- Fiverr: Fiverr is the world’s largest freelancing employment marketplace. Simply establish an account, describe what you’re able to do, and provide a portfolio, and you’re set.
- Upwork: Upwork is a more upscale freelance platform in which you could discover greater business clients.
- Freelancer.com: One of the oldest freelance work marketplaces, this is a good place to start if you don’t have any freelancing experience.
- 99Designs: If you’re a designer, this is a great way to locate freelancing work.
Pros and Cons of Freelancing
| Pros | Cons |
|---|---|
| Versatility. | There is no compensated time off available. |
| Workload management. | Whenever a freelancing client fails to repeat a contract, you must be ready. |
| There is no compensated time off available. |
5. Vlogging
This is one of the most interesting and profitable online businesses to start early. Vlog is an abbreviation for a video blog or video log, and it refers to a sort of blog in which the majority or all of the material is in video format.
Examples Of Platform That Pays You For Vlogging
- Youtube
- Uscreen
- Patreon
How To Create A Vlog
How To Promote Your Vlog
- Create a great thumbnail: This is the first thing that visitors see, and if you have a great thumbnail you will have a high CTR.
- Optimize your vlog for SEO: This is when you optimize your vlog to rank on search engines like Google, Bing, yahoo, and Yandex.
- Promote other vlogs using end screens.
- Get visitors to share and subscribe to your channel.
- Interact with your visitors frequently.
Pros and Cons of Vlogging
| Pros | Cons |
|---|---|
| Increased contact with visitors. | Making the videos might take a lot of time. |
| Increased conversion percentages. | |
| Extremely prominent and up to date. |
6. Social media marketing
With more than 80% of customers indicating that they use social media. Social media marketing (SMM) makes use of social media and social networks like Facebook, Twitter, WhatsApp, and Instagram to advertise products and services, communicate with current consumers, and reach out to new ones.
Benefits of Social Media Marketing
- Personify your company: Using social media, you may transform your company into an active player in your marketplace.
- Drive traffic: With your profile link, blog links in your posts, and adverts, social media is a great way to drive traffic to your site and turn visitors into buyers.
- Get leads: These platforms may also be used to get leads and conversions.
- Boost brand recognition: Because social media platforms are distinctive, you may establish your brand style across large audiences and boost brand awareness.
- Establish relationships: These platforms allow you to a network by opening up both active and passive channels of interaction with your visitors.
Tips For Social Media Marketing
- Make a variety of content.
- Maintain consistency.
- Make use of content development tools.
- Analyze results to determine success.
Best Social Media Marketing Platform To Promote Your Business
- Youtube
- Tumblr
Pros and Cons of Social Media Marketing
| Pros | Cons |
|---|---|
| Increase your reach. | The procedure takes a bit of time. |
| Communicate with your target visitors. | Takes time to see the results. |
| Promote your business to greater heights |
7. Graphic Designing
Graphic design may be your income generator if you have a strong sense of design. Graphic design is the art and technique of creating and presenting concepts and experiences with both visual and linguistic material.
Types Of Graphic Design
- Branding Design
- Web Design
- Environmental Design
- Motion Graphic Design
- Product Design
Principle Of Graphic Design
- Contrast
- Rhythm
- Color
- Balance
Best Graphic Designing Website
- Adobe Photoshop
- Canva
- Design Wizard
- Crello
Pros and Cons of a Graphic Designer
| Pros | Cons |
|---|---|
| Creativity is required. | Client standards must always be met. |
| There are several sorts of career chances. | Usually in front of computers. |
| fixed hours of employment. | Working alone is common. |
8. Amazon Kindle Publishing
You may publish any type of eBook on Amazon KDP and make profits as long as it is valuable and useful.
Amazon rewards authors up to 35% to 70% of the earnings from each ebook purchased on the platform, which has greatly aided many authors in achieving their financial goals.
Benefits Of Kindle Publishing
- Increased royalties: Authors can earn larger royalties through Amazon than they would through traditional publishing organizations. Royalty fees on Amazon might reach 60% based on the kind of ebook you sell.
- Author rights: Even if you launch your ebook on KDP, you secure the rights to it according to Amazon’s non-exclusive contract.
- Quick publication: ebooks can generally require a long time to reach the market when published traditionally. The KDP publication procedure is extremely fast on Amazon’s platform.
- Widespread availability: Because Amazon’s platform is so large, publishers may reach worldwide markets in the United States, Europe, and Asia.
Pros and Cons of Kindle Publishing
| Pros | Cons |
|---|---|
| Multiple Payment Methods | There is no designed marketing plan. |
| Publish ebooks with ease | |
| Amazon gives authors more percentage |
9. Teach Courses Online
Tutoring online is a fantastic method to put your teaching talents to work in a fresh and lucrative way. Once you’ve decided on a topic to teach, just publish your content online.
Steps Of Creating An Online Course
- Make your course or tutoring service.
- Upload your course with ease.
- Make your academy great.
Best Website To Teach Courses Online For Beginners
- Udemy
- Coursera
- MasterClass
- LinkedIn Learning
- Udacity
- Teachable.com
10. Offer Great SEO Services
Small companies who wish to advertise their business and products are frequently blind to search engine optimization. If you understand how online marketing works, then you can provide a cutting-edge advantage to developing businesses in your area. You may even work as a blogger if your SEO services include a content marketing strategy.
Example Of SEO Marketing Services
- Local SEO
- E-commerce SEO
- Voice SEO
- SEO audits
These are the platforms that offer free SEO courses so that you can learn and get your certificate after the completion of exams.
- Google digital skills
- Hubspot academy
- semrush academy
- ahrefs academy
- Udemy
Pros and Cons of SEO Services
| Pros | Cons |
|---|---|
| Gain access to SEO-specific knowledge. | It takes a lot of time. |
| Boost search ranks and profits for keywords with heavy competition. |
11. Podcast
Online programs like ZenCastr and Riverside FM enable you to generate highly qualified podcasts by managing all of the challenging audio setup and post-processing.
There are many other free tools available for creating your unique podcasts online, which can subsequently be used to make money from ads.
Types Of Podcasts
- Conversation Podcast
- Video Podcast
- Fictional Podcast
- Live Podcast
Pros and Cons of Podcasts
| Pros | Cons |
|---|---|
| Podcasting allows for direct communication with the listener. | It is tough to secure content. |
| Podcasts are easily scalable. | Difficult to access the audience |
12. Sell Pictures Online
If you’re a skilled photographer in search of a great way to make extra profit. Here’s the opportunity to sell quality pictures online.
Best Website To Sell Pictures Online
- istock Photo
- Shutterstock
- Esty
- Getty Images
- Stocksy
Pros and Cons of Selling Pictures Online
| Pros | Cons |
|---|---|
| Make money with quality pictures you sell | You have no control over the sales of a photo. |
| It is cost-effective | Your images might wind up anywhere. |
13. Virtual Assistant
A virtual assistant regularly works at home but has online access to critical resources such as standard plans. Possibilities are emerging for virtual assistants with expertise in social media platforms, digital marketing, blog writing, and visual design.
Benefits Of Virtual Assistant To A Business
- Employing a virtual assistant may help small company owners free up critical business days to focus on developing the company and increasing profit.
- Minimize operational expenses
- Save time on tasks and projects.
- improved job performance
You can apply to small businesses or enterprises in one of the following ways as a virtual assistant:
- Customer Support
- Social media administration
- Sales promotion
- Administrative services
- Data Entry
Pros and Cons of a Virtual Assistant
| Pros | Cons |
|---|---|
| Your earning capacity is limitless. | To find clients, you must work hard. |
| Anywhere is a viable place to work. | Additional monitoring may be required. |
| You Have the Option of Offering Different Services |
14. Video Editing
If you’re talented in video editing, you can use it to make extra money online. Video editing can be referred to as the alteration and arranging of video footage to produce a new piece of video.
Website For Video Editing
- Adobe Express
- Canva
- Veed.io
- Biteable
15. Online Survey
This is a more rational approach for businesses to communicate to responders since it is less time-consuming and less costly than the conventional method of getting information through one-on-one engagement. In some cases, you get rewarded for the completion of the forms either by money, gift cards, or by points. The point will be converted to money when you reach a certain threshold.
An online survey is a series of structured questions that a respondent answers through the Internet, usually by completing a form.
Survey Website That Pays The Most
- Swagbucks: This is a prominent survey site that pays you to complete surveys, play online games, explore the internet, and view videos. They pay you in Swagbucks points, which you can exchange for money or gift cards.
- LifePoints: Another service that allows you to do surveys in return for points is LifePoints. You may exchange them for gift cards, donations, and money through PayPal.
- InboxDollars: InboxDollars will pay you money for viewing movies, playing online games, checking email, filling out surveys, and purchasing at some businesses. Once you validate your email, you will receive a $5 incentive. Users will be able to withdraw funds by PayPal, cheque, or a variety of gift cards.
- Survey Junkie: You may get money with Survey Junkie by completing surveys and identifying your online surfing habits. The catch is that you must wait until you have 500 points to pay out at the $5 threshold. You may convert your points for cash using PayPal or gift cards.
- Opinion Outpost: Opinion Outpost allows you to share your opinions in return for points. You may exchange them for cash using PayPal or gift cards.
Things to keep in mind while doing online surveys
- Never pay to participate in surveys online.
- Building enough points or a threshold may take much longer than you expect.
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Before we conclude!
That’s not everything, pal.
There are numerous online businesses to begin in Nigeria, and new ones are popping up regularly. I will keep updating this blog post to offer the simplest approach to making money in Nigeria.
Conclusion
I believe this assessment was helpful for you to start your online business in Nigeria. If you’re still considering starting a business, I recommend you take your first step early.
I will continuously update this blog post, please drop a comment if you feel I left out something in this post or if you have any questions.
Thanks for taking the time to read my review; I value it.
FAQ
What is the best online business to start in Nigeria?
There is no definite best online business to start, the business you start depends on your passion, interest, and your capability.
Which online business is best for beginners?
The best online business to start with no effort is blogging, vlogging, and graphic designing.
What business can one do with little money?
Profitable businesses you can start with little capital is eCommerce, drop shipping, blogging, and digital marketing.
What business can I do from home in Nigeria?
There are businesses you can do from home, here are some examples: virtual assistant, blogging, digital marketing, and affiliate marketing.
What online businesses are trending now?
Businesses that are trending recently are kindle publishing, freelancing, affiliate marketing, blogging, and SEO services.
Hi, I am Johnson Uche. I am a content creator and digital marketer who provides tips, and reviews to help you in your business journey.
Thanks for the information, it was very helpfull