Top 5 Online Business Ideas to Start in 2020

0
top 5 online business idea nigeria 2020

Just maybe you have been pondering about what business to venture into this 2020, permit me to introduce you to the top 5 online business you can venture into and make reasonable amount of income. Truth is, even if you have a 9-5, these businesses can do well alongside to earn you more income in 2020, only if you ACT on them.

I can point out guys that are doing these businesses here in Nigeria and making a ‘killing’, so ignore the doubt whether online business works in Nigeria or not. Guys are making 7-10 figures on a regular basis and this year, you don’t want to be left behind.

Stay with me as I unleash on your laps top 5 online business to venture this year, 2020.

But before we begin, I will like you to note the following;

All of these businesses provide the opportunity to make money fast.

The key to real success, however, is a long-term vision.

What you don’t want to do is stand around waiting forever to get started!

Choose one, get going, and always make integrity a high-level priority. You want to build a positive and lasting relationship with your very first customers, so that you can keep them purchasing again and again.

When you do this right, you will not have to start from zero again; a fundamental element to starting a successful business. Start from zero once, sell excellent products and services, take care of people, and successfully build a lifestyle business.

Now let me share some of these amazing online businesses with you. One of them may just be the ‘magic idea’ that best suits you.

Let’s get it started with number-one…

  1. Sell Information Products

Also known as Information Marketing, this business idea entails you selling as an expert on a particular subject or field. If you have adequate skills or knowledge pertaining to a particular topic, then you’re one or two steps ahead in launching into the Information Marketing business. You are also potentially set up to make some serious passive income every month, without the need to start any sort of online store with physical products.

You can use your knowledge and skills to build people up while making some cash along the way!

Establish yourself as an authority in your niche, whilst striving to be best at it, market and sell what you know to other people.

There are tons of people out there seeking for information on how to prepare your favorite soup and you are perfect when it comes to this dish, why not compile a step by step guide (in an ebook or video) oh how to prepare this delicacy and sell it!

It will amaze you how much money you will make from selling this.

Akin Alabi built his billion naira bet company from his proceeds in Information Marketing business.

So, what do you need to start?

First compile your knowledge in a step by step guide that a novice will go through it and understand. You can package your knowledge in writing form (ebook) or in a video format. Give it a mind blowing and captivating title that will make your prospective audience want to grab it quick; something like: “Sure-fire Blue Print to Relocate to Canada without being Duped”, “7 Hot Steps on How to Woo a Lady & Get Her Falling Heads Over Heels for You”, “The Best Banga Soup Recipes That Will Make Your Man Want More”, etc..

Also read:  Top Notch Advice for Students who wants to start a Business

After compiling your information product, there are strategies to selling these so as not to get frustrated when you don’t make any sale.

First, you want to build a marketing funnel. Just as the name implies, a marketing funnel is a means of sieving those who are really interested in your product. It helps you to separate those who are likely to purchase your product from those who won’t.

After creating your funnel, you want to start sending traffic to your funnel to get prospective buyers in.

Once you get people hooked on what you’re selling them, you will begin to see an influx of forever clients and returning customers.

Second on my list right here is;

  • 2. Affiliate Marketing

Now, if you don’t have anything you are good at or you don’t have the time to compile information to sell to a hungry market, then you can also make money selling other people’s information product for commission. That is what Affiliate Marketing is about. A lot of person over the world and in Nigeria are making 6-7 figures in dollars monthly with Affiliate marketing, it’s a business you don’t want to joke with.

First thing first is to select a niche you are interested in promoting. There are quite a lot of niche in the affiliate business but the top 10 niches are;

  • Fitness and Weight Loss
  • Health
  • Dating and Relationships
  • Pets
  • Self Improvement
  • Wealth Building Through Investing
  • Make Money on the Internet
  • Beauty Treatments
  • Gadgets and Technology
  • Personal Finance

After choosing your desired niche, you might want to build a list of people interested in that niche. Take for instance the Fitness and Weight loss niche, to build a list, you can come up with a Fitness & Weight Loss blog or you offer a free info on same subject and call for people to get it in exchange of their data (name & email address).

You can now start promoting other people’s product to your list and earn some good commission.

In affiliate marketing, your commission is going to depend on what you’re selling. Some people in the affiliate marketing business make as much as 75% commission from a digital product. Physical products, on the other hand, typically earn between 2% – 10%. But when you sell hundreds of those physical products, that’s still a pretty good online business opportunity.

There are other affiliate product where you earn recurring income as well; products like web hosting affiliate and SAAS affiliate.

Also read:  Should I Focus on Growing a Business or Build Multiple Businesses at a Time?

To begin, click here to learn more on affiliate marketing business.

  • 3. Selling Online Courses

Statistics have it that in 2020 more people will develop their skills; in essence, a lot of courses will be purchased online and this money would be made by those who sell these courses. This section is kinda similar to information marketing above but this is majorly based on video tutorials where your courses are outlaid in chapters and sections.

There’s a high demand for coaches and consultants in specific fields… most of these being in health, fitness, and online marketing.

And this is where you come in. If you’ve got a service or training course to offer, then starting an online course is for you!

These are great ideas for online business ventures!

Say you want to teach others and train them to become adept in a valuable skill, or you want them to become healthier and happier.

If so, then starting an online course can be a fantastic way to make money in your own business.

  • 4. Selling Membership Websites or Programmes

There is nothing as sweet as recurring income and this is what a membership platform can give you.

And the great thing about membership program businesses is that they can allow you to do one body of work each and every month, that you can then go on to sell hundreds… if not thousands of times… over and over again.

What Do You Include In Your Membership Program To Make It Successful?

Well, you need to base your membership program around what you have been doing… something that you’ve gotten great results with, that will also help other people with a problem they are having.

This could be anything, really. But the idea is that you start a membership program to help people succeed in something that they don’t know how to succeed in, and they pay you for the easy access to the information.

  • 5. Selling Digital Marketing Services

Digital marketing services give local businesses the option to advertise to a vast number of people; a lot more people than they’d be able to reach without an online presence. It’s not at all uncommon for businesses to be on Facebook, Instagram, Google, and more.

Digital marketing is, honestly, much bigger than just putting ads up online.

This is where you come in as a potential business owner helping businesses to gain exposure, which can be a fantastic opportunity for you to earn money from home. Create a successful local marketing strategy that gets results, and you’re in business.

Why not start an internet business selling digital marketing services? Take a look at some of the ideas you can choose from:

  1. Graphics Design
  2. Website Designing
  3. Social Media Management
  4. Digital Marketing
  5. SEO & Content Management

Bonus: DropShipping

Drop-shipping is a very popular business nowadays and it is one of the fastest growing income source you can tap into right now. With drop shipping, you don’t need to have any inventory of any goods at all and you will be able to sell products to customers, set your own prices and market your very own brand.

I tell you what, if you’re willing to put in the work, you can build a great successful brand with this business model.

Click here to know more about how drop shipping works.

Enjoyed What You Read? Then Don't Miss the Next Post! STAY UP-TO-DATE

Join 29,972 SMEs & still counting, who are first to receive regular updates on latest News & Articles to Grow their Business.

We hate spam with passion! Your email address will not be shared with anyone else.



Domain names for just 88 cents!

LEAVE A REPLY

Please enter your comment!
Please enter your name here