20 Business Ideas That Can Generate Millions Monthly

Are you looking for business ideas to help you make extra income? Then we have you covered. There are valid reasons you should consider developing extra income channels. If you are working and you have spare time each day, then we have you convened in this article. If you have your weekend off and want to be productive then we have you covered with business ideas too. Or maybe you have extra money you want to put into use and make more money, keep reading.

Here are the top business ideas to make extra income.

BAKERY BUSINESS

It very eases to bake bread and cakes in a small area. You require a small amount of capital to start this business. You may decide to either bake at home or sell to the neighbours for a start  or get a small kiosk in the market or in town where you can sell. If you opt to start in a kiosk you must first seek permission from the relevant authorities and go through certain procedures to obtain a license for the business. If you are busy, you can tire someone to handle it for you.

CARWASH SERVICES

These days many people have their own cars and the demand for the services is high in every place, therefore, starting this kind of business will bring in a large profit. You should set up this kind of business at a bus terminal as many cars visit these areas.

FOOD JOINTS

You may also consider setting up this kind of business in your area and pricing the food a bit cheaper than others so as to attract more customers. This business will surely thrive as people cannot do work on a hungry stomach. The foods should be tasteful and of different variety to meet every customer need.

DRIVER

Drivers really earn a lot of money per day due to the increased number of people traveling every day to and from work. This acts a motivation to them as work will always be at the peak. If you have a car, you can register and do Uber at your free time or off days from work to multiply your income. If you want to take it further, you can put many cars in Uber and get drivers to drive. That is like having your own company and earning good!

FOOD DELIVERY

People have become lazy these days and companies have opted to hire people who could deliver foods to their customers to their homes. Approach food companies and stores, offer to help them deliver food. Get a motorbike and hire people or drive yourself.

HANDYMAN SERVICE

Manpower is required everywhere now in every specialization. Most people are needed in companies as delivery boys, to work in sites, to work as a typist and many other services.

GMAIL EXTENTION

You may decide to extend a business’s Gmail. This is helpful as the company’s feedback is provided, products advertised and the market is promoted.

WEDDING ORGANISER

This is among the easiest to start as many people these days don’t go to professionals as they charge highly. Therefore, people go to local but outstanding personnel to plan their weddings. To top it up, it is difficult for a wedding to be planned without a wedding planner.

BLOGGING

Creating a blog is another method one can use to generate income. Companies need to keep their customers and prospective customers up to date cannot do that without a platform. This job is therefore left to other persons who are paid highly for their services. If you are a novie in blogging, then make sure you read our guide: How to create a blog in less than 20 minutes

MEMBERSHIP WEBSITE

Once you discover you are passionate and knowledgeable at a particular subject, it is advisable to start a website as many people visit it to collect the information they need for that particular subject.

CREATING A COURSE

If you know any industry or business, you can easily create and sell on an online course that educates you on skillful ways of advertising and promoting the market. Read: How to make money creating and selling online course

CONTENT TRANSLATION

This refers to the translating of a company’s website, article, and documents for a pay. It requires one to have full knowledge of different and many languages.

LIFE COACHING

You can use your past experience or that of others to provide advice that will be useful to people and also ways of solving problems in the future or now.

FARMER MARKET

In these days, people have ventured greatly in farming activities and this can be an idea for you whereby you sell farm equipment and advice to these farmers.

EVENT ORGANISER

Organizing events such as birthdays, parties and other functions earn a lot because events are run several times with different people.

HEALTHY DRINKS

People these days are made aware of health drinks and are rare to find hence this will attract many people.

FLOWER SHOP

Love is mostly expressed by flowers and many people and therefore starting this business will have a large profit margin. Do you know how many people buy flowers? Just walk around premium residential areas and you will be amazed! that is a business opportunity! Especially if you offer your buyers after-sales-service.

PERSONAL TRAINER

You may decide to become a trainer of what you are passionate about or anything you have knowledge of for example being a gym trainer. So many people are becoming conscious of their health and well being.

INTERNET INFLUENCER

Being an internet fame can be an added advantage to many people as they may use their followers and viewers as the market for their products by advertising their products online.

FREELANCE WRITING

Majority of people have opted to start an online business of writing as one earns a lot within a few hours. One needs only to create an account and follow simple instructions given.

6 eCommerce Business Strategies to Learn from Leading eCommerce Tycoons

The majority of the global customer base today is shopping online. Retail eCommerce sales grew 27.6% worldwide to be worth $4.28 trillion in 2020. eCommerce business is undoubtedly a vast domain where there is always something new to learn. With that in mind, taking a look at the journey and eCommerce business strategies of some of the biggest eCommerce business tycoons is one of the best ways to imbibe valuable lessons. 

While every company undergoes a learning curve in running an online store, some of these tycoons have walked the treacherous path and built the best eCommerce companies in the world. These strategies can help you weather any kind of storm in this fast-growing industry.

1. Customer Obsession – Jeff Bezos (Amazon)

Amazon has dominated the eCommerce business landscape for quite a while now. The success of this eCommerce giant boils down to establishing and adhering to core values since inception. Jeff Bezos launched the company in 1995, intending to be Earth’s most customer-centric company — a principle that the brand has followed rigorously to date.

The result?

Amazon maintains a consistent 90% customer retention rate through tailor-made user experiences. Bezos obsesses over satisfying his customers beyond the textbook definition. You can use this strategy by putting the complete focus on your customers and building backwards. One such way is to be inventive about the benefits and products that you offer to your customers. 

2. Prioritize Company Culture – Tony Hsieh (Zappos)

Hsieh built a strong brand over a long period. He focused on establishing the right culture throughout the journey, which emphasized always hiring the right people. During the hiring process, the company goes to great lengths to ensure that the candidates are the right fit not just by their qualifications but also culturally. 

It is that simple. Hsieh figured out that people;

Don’t like the feeling that they have lost control, 

Need assurance that they are making progress, 

Love strong social ties, and 

Are motivated by the vision of being a part of something bigger than themselves.

Economists also observe that companies with happy employees earn 1.2 to 1.7% and more than their peer firms. Keeping these factors in mind makes Zappos a happy place with happy employees that inevitably translates to happy customers.

3. Tackle Problems as They Arise – Brent Bellm (BigCommerce)

According to Bellm, leadership in the eCommerce business realm is all about solving problems on the go. This includes pursuing opportunities when you see them. You should refrain from admiring, tolerating, or ignoring the issues at hand. Instead, face them head-on by leading with a driven problem-solving approach.

Similarly, you should take advantage of the opportunities and eCommerce business strategies. Set ambitious yet realistic goals like elevating sales, efficient merchant acquisition, and timely order fulfilment. A target-driven approach sets your eCommerce company for success. Bellm believes you see actual accomplishments when you hit the goal or get as close to it as humanly possible.

4. Humanize eCommerce – Hiroshi “Mickey” Mikitani (Rakuten)

Rakuten has grown exponentially since its initial years. Mickey, the founder of Rakuten, attributes this success to the personalized approach of the brand. Rakuten integrates people’s need for connection, even if it is through computer screens, for a rich shopping experience. The principle is that you should focus on delivering high-quality customer service and hospitality for a personalized approach.

Mickey wanted to create a baaar-like experience, where the small shop owners could curate their merchandise and interact with their customers. Rakuten works on a hybrid approach by combining humans plus algorithms to drive recommendations. As a result, customers are met with a pleasant experience when they liaise with the merchant for humanized recommendations.

5. Be Picky and Patient – Josh Silverman (Etsy)

This pertains to the merger and acquisition strategies followed by Etsy. Josh joined Etsy as CEO in 2017 and worked relentlessly to pace up the Gross Merchandise Value (GMV) and recover from the ballooning expenses. He built a house of brands by acquiring niche marketplaces that can add millions of GMV annually.

The acquisition strategies brought in vertical and geographic expansion in their portfolios. With DePop, the company taps into the Gen Z demographic, and Reverb assures a top spot in the trade of musical instruments. What’s more, Etsy acquired a Brazilian brand for handmade products, Elo7, furthering its geographical prowess. The takeaway is simply choosing the right online marketplace niches can make or break your eCommerce business.

6. Think Big and Never Give Up –  Jack Ma (Alibaba)

This list can not end without including this legend. Jack Ma is a cornucopia of lessons, be it the eCommerce business arena or life in general. Ma personifies the idea of hard work and quickly demonstrates the real-life outcomes of perseverance.

His early days were filled with challenges which he overcame by integrating experimentation and determination. His vision, even then, was to make Alibaba the number one eCommerce platform in the world. He secured huge investments and carried out the transformation of Alibaba’s IPO.

More importantly, Ma did not limit himself to Alibaba. He established Yunfeng Capital in 2010, which invested in several different sectors and industries. He imparted his guidance, wisdom, and ideas to push various companies in the right direction. You should insist on scaling your business online as eCommerce has a long way to go, and you can make the most of it. 

 

Summing Up

The leading eCommerce tycoons have paved the way for you. The bottom line of any business is to deliver results that satisfy the customers.

While there are many ways to go about it, some of the lessons to learn in eCommerce tycoons include: customizing user experience, teaching a winning company culture, finding solutions to obstacles, expanding tactfully, and above all, consistently being persistent.

It is time for budding eCommerce companies to take their efforts a notch to leverage the market opportunities. An intelligent approach would include strategically planning the growth of your online store and making minor changes to implement these ideas. Consistently testing and making positive changes can offer highly effective outcomes over time.

 

How to start investing in Bitcoin in Nigeria

 

Almost everyone have somehow heard of Bitcoin. Most people usually heard about it in passing but don’t know what it is. For some others, their question is if it is legal and how can they start, while for some others the question is what can they do with Bitcoin. In this article we will look at how to invest and make money from Bitcoin in Nigeria.

What is Bitcoin?

Bitcoin is simply digital money, meaning that unlike Naira or US Dollar that makes use of paper, Bitcoin is completely paperless. It was created with the intention of making it easier to move money from country to country, some even call it borderless money. Bitcoin, unlike regular currency (fiat), is not controlled by any single individual, organisation or government rather is controlled by Bitcoin users around the world.

Is Bitcoin Legal?

As to whether it is legal, in some countries it has been tagged as illegal although it is difficult to restrict people from using bitcoin. However, in Nigeria, there are no laws/policies against the use of cryptocurrencies. Bitcoin in Nigeria is 100% legal

What you can do with Bitcoin

Regarding what can you do with Bitcoin in Nigeria, a couple use cases are: using it as an investment vehicle to diversify your assets; trading by making gains off the price fluctuation just like forex trading. Bitcoin can also be used to transfer money across borders faster and cheaper.

How to invest in Bitcoin in Nigeria

On how to start investing in Bitcoin, it’s pretty easy. A couple years ago the reverse was the case but with platforms like Binance, investing in Bitcoin from Nigeria is seamless. Binance is the largest crypto exchange in the world with over 13 million users around the world.

You can start investing in Bitcoin with as low as N50 and can fund your account with either your debit or via bank transfer. All you need to do is Create an Account, Deposit Naira into your Wallet and then Buy Bitcoin.

Note: Due to CBN regulations, deposit via debit card is no temporary suspended, you can deposit and withdraw via P2P section of Binance, it is easy and fast. Once you sign up and verify your account, just go to the P2P section.

Follow these steps to invest in Bitcoin in Nigeria using Binance:

1. Creating an Account

Go to Binance.com and you will immediately see a signup form

Fill in your details, submit and verify your email via the link sent to your email

Go to ‘My Account’ and click on verify your identity

2. Depositing Naira in your wallet

Click on “Wallets”  in the website menu.

Then click on “Deposit.” On the next screen click on “Deposit Fiat”

Select naira from the currency Menu

You can choose the method you want to deposit. A debit card or bank transfer

Click on Continue

Enter the details of how much you want to deposit and click on ‘Pay’ or ‘Submit’ if you selected bank deposit.

For card payment enter your card details and click Pay. If you selected bank deposit make a transfer to the account details, ensure to include the ‘Deposit Reference Code’ in the transfer summary.

Once done your Binance account will be credited with the value you deposited.

Note: Due to CBN policy, use the below method to deposit naira

Depositing Naira in your wallet via P2P

Click on “Wallet” on the website menu and select “P2P”

Now you click on “P2P Trading”

On the next page, ensure you select “Buy”, in the fiat box, select “NGN” which is an abbreviation of Naira. You will get a warning of the risk, accept.

You will see different offers, select convenient offers with high completion rate.

Input the amount of Naira (NGN) you want to deposit.

Now, you will be taken to the completion page. You will see the account number of the trader. Make the payment to the account number using bank transfer.

Once you have made payment, click on Transferred, next.

As soon as the trader confirms the payment, the money will be deposited in the account.

Note: You will see the number of the trader right there, you can call them. Also know that for your safety, the trader account in Binance is frozen until trade is completed

3. Buying Bitcoin

Once your wallet is funded click on “Wallet” and then Fiat and Spot” in the menu

When the page loads Click on “Buy” beside bitcoin

In amount to spend, enter the amount you want to buy. Example: If you want to buy N5,000 worth of BTC, type 5,000 in the field.

Alternatively, you can switch to “amount to buy” using the double arrows to the right of that field. In this case, type in the amount of the asset you want to buy. Example: If you want to buy 0.5 BTC, type 0.5 in that field.

Confirm all the details.

Click “Buy”

You can check if you have been credited, by clicking on ‘Wallets’ in the menu.

Note: You can also use the P2P method to buy bitcoin directly

Automatically trade bitcoin and other cryptos very easily

If you do not have the time or you are not very knowledgeable to trade Bitcoin or any other cryptocurrency, the good news is that you can use a crypto trading bot. The trading bot will trade for you and make money for you even while you sleep.

The bots use different signals to trade. The best crypto trading bot is Cryptohopper.

First, you need to open a Binance account. Then follow the instruction above to deposit funds into your finance account. Once you have done that, sign up for a cryptohopper account. Then connect it to your Binance account. Set everything up.

That is all. The bots will automatically trade for you.