Are you ready to create a passive income for yourself, and give yourself financial freedom irrespective of what the Nigerian economy is saying? You can start today. Spare a few minutes to read this post and take steps. There are many ways you can start making money online legitimately. Here in this post, I have compiled the top 7 ways to start making online income. This is not MLM. You don’t need previous knowledge, No special skills, and you can start today
Nigeria’s economy is a mixed-market, middle-income economy, with a mix of private and state-owned firms producing a nominal GDP of $514 million per year. It is now the world’s 27th largest economy and Africa’s largest. The country’s purchasing power nearly tripled between 2000 and 2012. In terms of purchasing power parity, it is now ranked 24th on the planet. Nigeria has the largest economy in Africa
Naturally, most of this is due to advancements in Nigeria’s telecommunications industry over the last decade, which has resulted in a significant increase in the number of internet users in the country. According to DataReportal, the number of Nigerian internet users increased by 22% from 2020 to 2021. (19 million). As a result, it is apparent that, with this level of internet access, Nigeria would rapidly develop into a thriving tech center with a large technology market.
Flutterwave, a fast-growing online payment processor based in Lagos, reported in May 2021 that it had raised $170 million in venture capital funding. Throughout October 2020, the Irish-American corporation Stripe paid more than $200 million for Paystack, a well-known Nigerian payment processor, to expand its services in Africa. All this is evidence of Nigeria’s digital revolution, as an increasing portion of the population earns a significant portion, if not all, of their money online.
Affiliate Marketing
So, what exactly is affiliate marketing? To put it simply, one party (the affiliate) advertises a product or service in exchange for commissions and referrals. For each sale made through the affiliate’s efforts, the merchant (or the person who owns the goods or service) pays an agreed-upon commission, which typically ranges from 10% to 75%. This can be determined using either price or revenue as the basis.
Affiliate marketing is a method of making money by advertising the products or services of others. It’s simple to comprehend how it works. You only need to select a product or service that you like (or know how to use) and recommend it on your website to make money with affiliate marketing. The company then gives you a commission for suggesting them when they click through and buy something.
Here are some pointers to help you get started with affiliate marketing:
Select a product or service that will appeal to your target market. This is the most crucial phase of them all. If you choose a product or service that is relevant and appealing to your audience, you will be far more successful.
Secondly, choose a niche market with a lot of positive feedback. Before spending money online, make careful to read reviews to ensure that people are satisfied with their purchases; otherwise, it may not be worth trying!
Are you interested in affiliate marketing? Read a simple but comprehensive step-by-step on Affiliate Marketing For Beginner – How to Start in 3 Steps?
Selling E-books
If you’re looking for ways to make money online, selling e-books is a great option. E-books are relatively easy to create and can be sold on a wide variety of platforms. You can sell e-books as PDF downloads or on platforms like Amazon Kindle Direct Publishing.
When you sell an e-book, you’ll get a percentage of the sale price. The amount you earn will depend on the price of your e-book and how many copies you sell. But if you write a popular e-book, you could make a lot of money!
Creating an e-book doesn’t have to be complicated. You can compile a collection of articles you’ve written, or even just write a single long article. Once you have your e-book created, you can start promoting it and selling it to customers. E-books are a great way to make money online because they offer a low-cost solution for people who want information on a specific topic. If you can create an e-book that provides valuable information, you’ll be able to sell it for a good price and make a nice profit.
Blogging
Blogging is one of the most popular and easiest ways to make passive income online. This is my favorite! Blogging is a great way to share your thoughts and ideas with the world. It can also be a great way to make money.
There are two main ways to make money from blogging. The first is through advertising. You can sign up for an advertising program like Google Adsense or Amazon Associates. Google AdSense is great when you are starting a new blog. Easy to integrate. Then, you will place ads on your blog and earn money when people click on them. The second way to make money from blogging is through affiliate marketing I have discussed this in the first point.
This is when you promote other people’s products on your blog and earn a commission when people buy them. This can be a great way to earn extra income, especially if you promote products that you use and love yourself.
Download a free step-by-step guide (ebook) on How to Set up Your Blog in 20 Minutes
Also,
You can read on how to monetize your new blog [Make Money with Google Adsense in 2022]
Niche E-Commerce
As a startup internet entrepreneur, you’re not competing with e-commerce titans or major retailers like Walmart. You also don’t need a warehouse or a logistics system to sell your wares.
To be successful, you must narrow your focus. To put it another way, discover your niche and stay with it. As a result, you’ll become the go-to expert and rank well in search results.
The most critical factor is that your niche must have a market. You might be passionate about Medieval British poems, but you’re unlikely to find many readers.
When it comes to e-commerce, having a narrow focus that appeals to a specific audience is crucial.
Develop Apps
Either android, apple, windows, or web apps, you will need good knowledge of coding/programming. You can check many free tutorials on youtube for any programming language of your choice. Personally, I recommend Java or Python.
There are a number of ways to make money by developing apps. Firstly, you can develop an app and sell it on the app stores. Alternatively, you can develop an app and offer it for free, but include in-app purchases. Finally, you can develop an app and sell it to a company or individual who will then market and sell it.
Developing apps can be a very lucrative way to make money online. However, it is important to ensure that your app is of high quality and offers value to users. If you can create an app that meets these criteria, then you could potentially make a lot of money by selling it on the app store or to a company or individual. In my own studies, Gaming Apps cash-in a lot.
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Selling on Amazon
One of the easiest ways to make money online is to sell products in popular online stores. Great online stores, like Amazon, eBay, Etsy, and Craigslist allow users to set up their own shops and sell whatever they want. This is a great option for people who are looking to sell handmade goods, vintage items, or even digital products to a large audience of potential buyers. With a little effort, you can start making money online today!
Sellers on Amazon and eBay reach a global audience, which gives them a great opportunity to sell their products. These platforms also have built-in tools for managing inventory, processing payments, and shipping systems. This makes it easy for the sellers to get their products to buyers.
There are a few things to keep in mind when selling in online stores. First, you need to make sure that you list your items in the correct category. This will help potential buyers find your items more easily. Second, you need to take good pictures of your items. Make sure that the pictures are clear and show the item in its best light. Third, you need to write detailed and accurate descriptions of your items. Potential buyers will want to know all about the product before they make a purchase.
Of course, there are also some challenges to selling on popular online stores. One challenge is that you will need to compete with other sellers who are selling similar products. Another challenge is that you will need to pay fees to the store in order to list your products or give out some percentage of your price. However, overall, selling on these popular online stores is a great way to make money online
Your Own YouTube Channel
Creating a YouTube channel is free. all that you need is a Gmail account. Many YouTubers make millions from their channel every year. You don’t need to have millions of views to start making money on your YouTube channel. Sharing product reviews on youtube has proven so effective in making a lot of money from YouTube.
Here’s how to profit from YouTube:
Create a YouTube channel, which will house your videos.
Upload videos on a regular basis and give a specific description of the content. Make sure your films are of good quality and contain information that is informative or amusing. You don’t need a high-end camera to get started; a smartphone would work.
How-to videos, such as recipes, unboxing (when you open a product for viewers), cuisine and travel reviews, music videos, comedy skits, and so on are some examples of valuable films.
Make ads for your videos on Facebook, Twitter, Instagram, and your email marketing list. Share the videos on social media and embed them in your blog or website.
Respond to viewer comments to build a fan base. It’s your job to draw in and keep viewers.
Allow YouTube to integrate ads in your videos to monetize your videos. When viewers watch you’ll get paid
Another thing to note is that you do not need to appear in front of a camera to make money from YouTube videos. Many of the most popular YouTube channels are screen capture videos with software lessons or films where someone does something or does a voiceover without ever having to be on camera.
