With the Emergence of the internet, so many things have changed. From communication to transportation. All sectors have received a bit of technological impact. The business world isn’t left out either. In fact, the arrival of the internet has totally transformed the business world into something we never imagined.
Prior to now, Business was done one on one, transactions could not take place without meeting clients at a specified location. Business was relatively stressful and time-consuming. That has changed though, with the power of the internet, all business activities are done with relative ease.
Most businesses are carried out online without moving an inch from your home, with a lot of online businesses available, we take a look at the Five most profitable online business in 2018.
This business model is sometimes confused with mini-importation but they are quite different. Even though both involve selling products, the methods are different.
In mini importation, you buy goods from another country and attend to all expenses involved in getting the goods down to your location. With this, you take all responsibility concerning the business.
But in drop shipping, it is quite different. You need no product or warehouse to stock your product. All you need do is create a website, sign up with drop shippers and display the products you want to sell on your site.
When someone makes an order for the product, you simply contact the drop shipper, make payment on behalf of the buyer and the drop shipper delivers the product to them.
With this, you make the huge amount of profit from little capital. You don’t need to spend lots of money building a warehouse to stock product, your website is your store.
One Drawback about this business is that you need to find a reliable drop shipper to buy from. If you supply goods that are of low quality, you will be blamed and not the supplier. In that case, you take responsibility of any failure in place of the main supplier.
Like Every other business, drop shipping also has competition. It is one of the most profitable business around, and many people are beginning to discover this.
That notwithstanding, you can start your own drop shipping business today and rack in lots of profit with little startup.
2. FREELANCE BUSINESS
this is one of the most profitable online business you can ever venture into, especially if you’re skilled in the following categories:
- Content writing
- Graphics design
- Web design
- Digital marketing
Freelancers make more than $1000 dollars every month. It is even more impressive if you consider the fact that they earn that much from the comfort of their homes.
What makes this even more interesting is that you can start with Zero capital. All you need is your smartphone, software for your kind of skill and regular internet connection.
Your success in this business depends on your level of expertise and how much you’re willing to learn to become more useful. Setting out may be tough for newbies, but with sites like Fiverr, upwork and Quora, chances of landing freelance clients are high.
A better place to land clients easier is on social media platforms like Facebook. This is because, landing clients on Sites like Fiverr can take time. But on Facebook, you come across lots of people who need your services.
Your pay may not be much for a start, But as your skills improve, you land higher paying clients.
3. AFFILIATE MARKETING
Affiliate marketing is a whole lot similar to Drop shipping but with little differences. Signing up as an Affilliate, you’re more like a referral to a particular product.
In affiliate marketing, you don’t need to contact any supplier, yours is just to place the link of the product on your website, and when visitors click on it, they will be redirected to the site of the company that sells the product.
With every sales made through your link, you get a commission which depends on the rate of the company you signed for.
There are many affiliate program to sign up for and these include Amazon associate, jumia, eBay, and Aliexpress.
To become an affiliate, you need to have an office in the form of a website or blog to place your link. Being an Affiliate is a way of earning passive income. It is one profitable business to venture into.
Blogging perhaps is the most popular online business making waves right now in Nigeria. Many people didn’t take this business seriously until Linda Ikeji bought a car from it. After that Nigerians came to realize how profitable the business was.
A blog is an avenue of sharing knowledge and information to your audience. Most people will like to know how bloggers make their money.
There are various ways to earn income through blogging. Running Ads and Affiliate marketing are the major ways for bloggers to make money fast. But it goes beyond that.
A blogger can also earn passive income through information marketing I.e selling his knowledge in the form of Ebooks or practical course to his audience.
As easy as it sounds, blogging isn’t all that gloomy. It takes a lot of effort to finally excel in the game of blogging. Setting out, you need to dedicate your time, work on SEO and be consistent. Before you can even render services, you must attract lots of traffic to your blog by posting Contents that adds value.
If you play your cards well, in no time you will be earning a lot from this business. One reason why is very profitable is that you can earn money even while sleeping.
5. BUSINESS CONSULTANT
This is the hardest business on this list, it requires some level of expertise.
But if you’re knowledgeable enough, then why not?
What a business consultancy company does is to give advice to companies, brands and individuals looking to build their business. It is no secret that it takes lots of effort to excel in the business world. People fail a lot before finally making it.
Sometimes, most people don’t know the strategy they should employ to make their business grow faster. This is where a consultancy service comes in.
For you to run a consultancy company, you need to be highly skilled and knowledgeable in the area of business. Because people will be relying on your services to take their business to the greater height.
What makes this business profitable is that you are selling your knowledge for money. Most consultancy company charge as high as #250,000 for their services. You can start yours today with little capital. But it isn’t a business every jack and Harry can run into.
In conclusion, there has never been a better time than now to venture into online business. Apart from reducing stress, it is a means of getting an additional stream of income. Lucky enough, you don’t have to spend the whole day. You can still make something out of it working for just 4 hours every day. Online business is one of the most profitable business one can ever venture into.
What’re you waiting for? Join the crew and rack in lots of profit every month.