There are numerous ways to make money and online businesses has proved to be one of the lucrative types of business.
One of the defining phenomena of the present times reshaping the world as we know it, is the worldwide accessibility to the internet. The lovechild of the World Wide Web is social media, which comes in many forms, including blogs, forums, business networks, photo-sharing platforms, social gaming, microblogs, chat apps, and last but not least social networks.
The power of social networking is such that the number of worldwide users is expected to reach some 3.02 billion monthly active social media users by 2021, around a third of Earth’s entire population. An estimated 750 million of these users in 2022 are expected to be from China alone and approximately a third of a billion from India.
The region with the highest penetration rate of social networks is North America, where around 70 percent of the population has at least one social account. As of 2017, 81 percent of the United States population had a social networking profile.
Global Internet Stats
- There are 1.86 billion monthly active Facebook users (Source)
- There are 1.15 billion mobile daily active users (Source)
- Twitter has 313 million monthly active users (Source)
- There are 500 million Tweets per day, that’s about 6,000 per second
- The number of internet users worldwide in 2018 is 4.021 billion, up 7 percent year-on-year
- The number of social media users worldwide in 2018 is 3.196 billion, up 13 percent year-on-year
- The number of mobile phone users in 2018 is 5.135 billion, up 4 percent year-on-year
Below is the list of 20 lucrative online businesses:
1. Start a Youtube Channel
Starting a YouTube channel is the easiest way of making money online in Nigeria and needs absolutely no start-up investment.
YouTube gets an amazing 5 billion views per day which proves its power on the internet. There’s no doubt how much money people are making online via this platform. In fact, one man named Felix Kjellberg, the owner of PewDiePie earned 12 million dollars back in 2015 by running a single YouTube channel.
Making money on YouTube is one of the easiest online money making opportunities that you can find anywhere. This is mainly because the platform allows for people with basic computer knowledge to leverage on their creative abilities to create content that can attract viewers and followers.
2. Start a Blog
Being a blogger is one of the easiest ways to make money from home. Unlike many other jobs that require a lot of time, blogging is quite different because you don’t need to work from an office space, you can blog right from your comfort zone at home.
3. Start Affiliate Marketing
This one is a type of performance-based marketing in which businesses rewards a certain percentage of commission for each product bought by the customers who were referred by the affiliate marketing effort.
Affiliate marketing; this is a good online business opportunity that can profit you a great deal of money. This online business entails promoting other people’s products, goods or service and you will be paid commissions. I highly recommend the following affiliate program for you:
Wealthy Affiliate (Free Start-up)
4. Create Niche Websites
Niche websites is a small website focused on one particular topic which shares all information relevant to the topic that is both useful and interesting for the target audience.
It can be any small-scale web property that makes money. Generally, a niche website should have these characteristics:
- It has a low number of content pages (Usually 20 or less)
- It is narrowly focused around a very specific topic or audience like website design
- It primarily relies on a single source of income
- It gets traffic from one place (usually Google search)
5. Create a Membership Site
A membership site is a membership website with exclusive contents made available to a certain number of signed up users.
These type of websites provides a place for registered members to interact with one another and there is a certain monthly access fee attached with it.
6. Sell Websites on Flippa
I’m sure you’re probably hearing this for the first time. Yes, people build websites not for their personal use but for sale and this is one of the latest online money making opportunities we have.
So, Flippa is basically a place where you can sell and buy ready-made websites.
But first, you need to be able to create and design sellable websites for a start. This is the whole essence of the platform. You can learn how to create stunning websites from scratch, using tools like WordPress, Wix, Joomla, Drupal and themes that are eye-catching and many more.
7. Become an Amazon Associate
Amazon Associate is a special kind of affiliate program. It allows website owners and bloggers to monetize their website via affiliate links and earn referral commissions when any website visitor clicks on the link and buys a certain product.
8. Do CPA Marketing
CPA means “Cost Per Action”.
Now, what is cost-per-action marketing? This is basically a form of marketing that rewards you for every lead generated. When I say ‘lead’, I mean, on every customer referred to carry out a desired action.
It is when you make people take some action (e g. submit an email, register an account or fill a form etc.), and you get paid for that.
9. Teach your Native Language
Most of the people in today’s globalisation world are trying to learn new languages, and there are many new reasons for doing so.
Some people want to improve their employability, some want to study or live overseas, some want to grow their business or just want to improve their travel experience.
10. Buy and Sell Domain Names
A domain name is nothing but a website address that you put on the address bar of your browser.
Your main task in this method of making money is to find and register domain names that have commercial value row in demand. You can then resell for the biggest bidder.
11. Create your own e-Commerce Store
If you don’t want to leverage on eBay and Amazon marketplace…
Another awesome yet growing way to make money online is by setting up your own e-commerce store and selling your own products there.
12. Do URL Shortening
You can make money shrinking URLs and ensuring they get clicked.
Link shortening is a product that will give you a better way to earn money online. There are different link shorteners out there but not all give you money.
13. Auction Selling (Classified Ads Website)
These are the likes of Jiji, eBay, Amazon auction or Craigslist. This service is all about selling or reselling used product or so to the right customers.
Free classified website is a new commerce strategy of rocking the web. It’s like a directory or a storefront that allows users to list their products or services with their contact details.
You can create a forum of a particular interest or with a combination of many interests were a lot of people can talk and chat about different topics.
If the forum is popular, you will get a lot of people who are willing to pay to advertise goods and service and sponsor contents or product in it.
15. Binary and Crypto Trading
There is no hot business than the likes of Forex, Binomo, and Cryptocurrency trading right now if you have a great understanding of the exchange market. People make thousands of dollars in trading currencies online. It’s not advisable for everyone because of the high risk involved. If you want to start this business then you need to learn this completely & you should always try with small amounts before you become confident.