Considering the skyrocketing increase in cost of living in Nigeria, one will have no option than to shed tears for both the unemployed and under employed masses. Instead of news of 20,000, 5000 or 500 people being employed, the most common news these days are either zenith bank sacking 1200 employees or first bank sacking 2400 employees or oil companies sacking 18500 people and so on. This series of downsizing by Nigerian companies is becoming too alarming and Nigerians need to embrace online alternatives for creating a sustainable income.
Today, I will be sharing with the Nairaland community 3 legitimate Online businesses A Nigerian Can Start In 2017
1. Affiliate marketing
this is one of the most profitable online businesses on the internet. The ideology of affiliate marketing is simple. X sells a product, I recommend the product to Y, Y buys the product based on my recommendation and X pays me a commission for bringing him a sale.
Successful affiliate marketers in the world make millions of dollars annually doing nothing but affiliate marketing. The earning potential in this business model is very high as the likes of Zack Johnson, Mark ling, john chow and many other affiliate marketers earns upward of two million dollar annually. That is about eight hundred million naira yearly.
Nigerians can learn and utilize this business model. A major advantage affiliate marketing has is that it can serve as a lifetime career if one choose to and it can be easily automated to run hands free.
2. Freelancing
This is also a very profitable online venture. The ideology behind freelancing is also simple: X is a programmer or a good writer, Y hires X to write articles for him or program, Y pays X for the services he has rendered and Y use the work as if he actually did it himself.
This is basically what freelancing is all about. You work for big companies/corporations/individuals using your special skills and you are paid for the services you rendered. This special skills range widely from translations of one language to another to singing a song, to programming, to writings of various kinds, to graphic designs, to customer service, data entries, accounting etc.
One of the major advantages of this online business model is that you do all your works from where ever you feel like, usually from the comfort of your home. Few major setbacks to this business model are that it cannot be easily automated and it is relatively time consuming.
3. Blogging
you can build a continuous income source by becoming a blogger. Simply discussing about a popular topic has the potential of driving lots of traffic to your blog, you can incorporate various sources of income to your blog.
This online business model appeals to new internet users. Success in blogging requires a lot of hard work. I am still researching the estimated population of bloggers in Nigeria but in United States alone, there are over 40million bloggers out of which only about 2% are considered very successful. By being very successful I mean being able to live the kind of lifestyle they want off their blog.
If you want to go into this business model you should be fully prepared. You should know that you are approaching an uphill task so tighten up your belt.
Conclusion
I know that the question in your mind now is which is the ideal online business among this business models. The truth about these online businesses is that they are all profitable if you are able to pay the price.
Personally, I am into affiliate marketing and partially into freelancing. The major reason why I choose the affiliate marketing business model is that it meets my personal ideal online business criteria. The criteria are:
I should be able to operate my business from anywhere. All the 3 models meet these criteria.
I should earn money while I am asleep or on a vacation. Affiliate marketing and blogging meets these criteria.
It should be easily automated to run hands free without much of my interference. Only affiliate marketing meets this best.
Pick up your business model and work on it
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