Most Nigerians have just one stream of income — a job or business with insignificant revenues. If you’re a part of this majority, you’re one layoff away from a catastrophe.
Regardless of whether or not you want to become a millionaire, you need to maintain some side hustles to keep money on the table for that fledgling company or day job. There are lots of ways to make money online, and collectively they can add up to a lot of cash for you. Some of these businesses just need your best efforts and may only require 0% of your time.
Here are a few online side gigs with the best recurring revenues (plus they sound like fun).
Mobile Apps
There is no magic wand to make your app successful in terms of making money, but anything based on a collection of data can have an audience. With the right efforts and hard work, you can earn good revenue from an app development.
You can create custom apps for companies and sell them (the price will depend on the app and its complexity, the client, and their niche). You can also make apps and sell on the normal platforms for IOS and Android. The third option is making free product-based apps and monetizing them with ads.
Affiliate Marketing and List Building
Affiliate marketing is one of easiest way to earn money online. Everyone is obsessed with creating the killer product or service that will rake in revenues. The reality is beginners can become full-fledged marketers right away, often with well-established products with proven sales.
It is quite simple. Create a free “info product”, such as an eBook and ask people to subscribe to a mailing list to get the download link. Once they are on the list, start promoting offers. You can make a lot of extra money every time you send out an email.
Publish a book on Kindle
Everyone is an expert at something and people are earning a living off making Amazon Kindle Publishing. This is how it works: Do you know about something that other people don’t? Write it down, go to Fiverr to get a book cover designed, publish it on Kindle, but stay in the $2-$10 range. To promote it, make it free on kindle for the first 5 days. You will get paid for downloads and this will boost the visibility of your book after the free period ends.
You can do this even if you are not a gifted, many people get “ghostwriters” to write the entire book for them. On completion, you can launch your work across Amazon Kindle Publishing and viola, you’re a published author! People can read your work from their phones or smart devices
Create WordPress Themes and plugins
You can create themes and sell them on sites like ThemeForest. There are developers selling on ThemeForest who have made over $1 million. For plugins, if they are really great, well developed, explanatory, and solution-based, they should be easy to sell on Codecanyon or similar sites.
One point to be noted is that your themes and plugins should be of high quality, unique and helpful. You might also need to invest in marketing them too.
Create niche Ecommerce sites using Amazon’s affiliate program
Fulfillment by Amazon or FBA is another option to selling products online. Simply put, you purchase a quantity of products upfront and have them shipped to Amazon’s ridiculously large fulfillment center for them to fulfill all your orders.
Your job? Get the “right” product to sell, create an Amazon merchant account, make it unique, send test products to yourself, purchase the products ahead of time in bulk, ship the ordered products to Amazon, have them listed on Amazon, sell them, and manage reviews.
Now, we hope these suggestions helped. Let us know in the comments!
