7 lucrative online business ideas to start in 2020

Have you ever thought about starting an online business and funding your dreams without having to borrow money from anyone?

Well, if you have then you’re not alone. A lot of people like you have also thought about starting an affordable online business or even without capital. I was here at some point.

No I’m not kidding you. And it doesn’t matter if you’re in the university or you’re keeping a 9-5 job.

As someone who’s successfully combined running a successful online business with an extensive degree program for more than half a decade, I can assure you, starting and building a successful online business is very possible, no matter where you are.

Of course, there are a lot of young people running successful online businesses around the world. From India to South Africa, to the UK and even in Nigeria we have names like Uche Pedro, Seun Osewa and Linda Ikeji, among others, engaged in successful online businesses.

Although a good number of them are engaged in these businesses on a full time basis, there are still a good number of them doing this on part time basis like myself. And the best part is that most of them did not start these online businesses with any major capital investment.

So, why are People embracing Online Businesses?

The reason people are embracing internet based businesses is because unlike an offline business, online businesses are very flexible. They are easier to start and very cost effective to run, compared to most offline businesses.

You can also start an online business anywhere either from your home, hostel or from your office. And like Facebook’s Zuckerberg for instance, where you start your online business does not determine where the business is going.

Top Lucrative Businesses You Can Start Online in Nigeria

The following are the top 7 lucrative businesses you can start online in Nigeria and any other part of the world with low or zero capital;

Virtual Assistant Services

Virtual assistance services is one of the easiest online business you can start. With platforms like Fiverr, Freelancer etc, it is increasingly becoming very easy to become a virtual assistant in Nigeria.

As a virtual assistant, you don’t necessarily need an office. You can start from your home or hostel if you’re a student.

To start this start a virtual assistant service, you’ll need to have some sellable skills. Your skill could be anything from web mastering skills where you’ll have to be managing websites for busy clients, to book keeping, email marketing assistant or setting up and managing databases or even virtual researches.

There are so many different virtual assistant services you can start as online business in Nigeria. This post has a link of about 30 virtual assistant services you can start online , anywhere.

So at this point you can decide on the virtual assistant service you want to render then head over to fiverr.com, have a look on profiles of other people offering that skill as a service, set up your own profile and then get started marketing your business.

Content Marketing

Content marketing is regarded as a strategic marketing approach focused on building quality, useful or relevant and consistent content on the internet (could be social media, your blog, website etc) in order to attract a well-defined audience that will help you drive a profitable customer action. It is one of the most popular services rendered as online business.

As a content marketer, you provide content that help businesses market their product and reach across to audiences with the purpose of getting new clients.

Your content marketing could come in the form of copywriting, producing video content for companies or evolving content strategies that would be useful to businesses.

It doesn’t cost a lot to start content marketing as an online business. Also, it’s something you can learn online especially where you have a flair for writing.

Social Media Marketing

With over 2.4 bilion people on Facebook as at 2019, the social media and Facebook in particular has come to stay as a platform to reckon with, for both individuals and businesses.

Whether we like it or not, a lot of businesses are going online. For most of these businesses, it won’t be easy to maintain a balance between running a business and still managing their social media handle the way they should.

Same thing goes for businesses with multiple social media handles. These social media platforms will need to be managed by people other than the business owners. This is where a social media manager comes in  

So there’s a good opportunity for you to start your online business as a social media marketer or manager.

As a matter of fact, there are a handful of social media managers out there so, to do this successfully, you need to distinguish yourself by creating a niche for yourself.

To create a niche for yourself, you can start by getting certified as a social media manager. There are a handful of platforms to get certified for several skills, free. There are also some sites where you’ll have pay for the certificates.

The good thing about social media management is that depending on your level of engagement, you can manage up to 3 or 5 social media accounts at a time and still get paid for each of these accounts.

Also, with proper scheduling of posts which can be done with scheduling softwares like Coschedule, Feedly etc, you can schedule your posts and still find time to do other things.

And being that the learning curve is not very steep, starting social media management as an online business is very suitable for part time business especially if you’re a university student or you’re working full time.

In this post via the link, you’ll find a complete tutorial about how to become a social media manager.

Graphics Design

With the influx of online businesses and brands, it is becoming even easier to set up a brand as a graphic designer.

Graphics design business is also very unique business in the sense that the entry process is not too difficult. You can learn graphics design today and start getting clients in a short while.

As a matter of fact, you can even start with your graphics design business with your smart phones. With platforms like Canva.com and others, you can get pre-made templates where you can use to start up your graphics design as a service.

As you progress with the business and skills, you can invest on and design with other top notch design soft wares and program like Adobe, Corel Draw etc. And then work on getting certifications and getting established as a brand.

Another good thing about the Graphics design business is that your services will be needed by people both online and offline, including social media and across different niches. So if you can put your acts together, there’s an available market waiting for your services.

Blogging

Blogging is another business you can start online. Although it is becoming a lot crowded and becoming a bit difficult to break even, a lot of Nigerian bloggers are still nailing it. So, you can also start a successful blogging business if you’re ready to put in the work and grow your blog.

To get started as a blogger, you can focus on creating text content or video content or even audio (AKA podcasting) and then monetize your blog as the traffic grows.

You can build a successful blog by identifying your niche, producing great and value loaded content, engaging with established influencers and working hard to push your blog.

With the right strategies in place, your blog could become your major source of income through advertising and other monetizing strategies.

Also, if you have any marketable skill, you can decide to build a blog around this skill. Develop the blog and skill and in a short while, people will see your expertise. With time you can start offering services that people can pay to get.

The good thing about blogging is that it doesn’t cost you a lot to get started.

For video blogging or vlogging, you can even start with your smartphone if it has a good camera. With time, when your videos starts generating income, you can get other important gadgets to start producing even more professional videos to suit your taste.

Online Trainings & Tutorials

A lot of people get scared whenever online coaching and training is mentioned but then, you don’t have to be a super professional to coach or train other people.

As an individual, there’s probably something you know that no one else does. Talk about cooking for instance. Or singing? Or is it playing the piano?

Today with the internet, we have singing coaches, cooking coaches and others who have become well known celebrities in their niches simply because they started something.

Good enough, some of these guys actually started out as hobbyists. These are also some skills you can start if you have them. And work on teaching others for a fee as you grow your brand.

With a good branding, packaging of the skills, and marketing, you can become a thought leader in your chosen field, within a short time.

And some of these skills are things you can start right with your social media platform. So you may not necessarily need a platform of your own until you start making profit.

Write a book

Do you have any special knowledge, skill or experience you can impart on others?

Besides running a one on one coaching program, writing a book and publishing online is also another lucrative online business idea you can start.

With a platform like Amazon’s Kindle Digital Publishing you can now write books, publish online and make money with your books from the comfort of your home.

The best thing about engaging in publishing ebooks as an online business is that this is one of the best ways to make passive income online.

Unlike other online business ideas I listed here, publishing ebooks online is an online business that will not demand so much of your time after you’re done writing, setting up the book and the initial marketing of the book.

This makes it a very good online business idea to make some money on the internet especially if you’re a always busy with other engagements.

Final Words

So there you have the 7 lucrative online business ideas you can start right now. The good thing about these ideas is that it is not limited to Nigeria or any geographic location. You can start this business anywhere you are.

And it also doesn’t need a lot of capital (if any) to get started. Most of these ideas are things you can start completely free without any initial investment of funds. So the choice is yours.

So, do you need help to get started with your online business idea or building a website for your business? Let’s help you.

Now, it’s over to you. Which of these ideas would you like to start with? Let’s hear from you.

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Victor Winners

Victor Winners

Award winning Blogger, Author, Web Developer, Senior Digital Strategist and Founder of Africa's most widely read blog on Content Marketing and Digital Strategy, VictorWinners.Com.Named as one of the top 50 design influencers globally, since 2014; Victor Winners has helped over 2 million readers to understand and use digital technology to transform their lives and businesses.

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