20 Online Business That Will Make You A Millionaire In 2024
GoldenNewsNg has obtained 20 online business that will make you a millionaire in 2024 with a detailed guide on each of the businesses listed below.
This online news platform understands that the year 2024 is coming to an end lot of our Nigerians are thinking of a good business to start up as a main hustle or side hustle to make reasonable amount of money before the year ends. So read on lets share some mind blowing business ideas with you that will lead you to financial freedom in the year 2024.
With the current hardship in the country there are so many business to start with 100k in Nigeria and be successful, but sometimes you may find it difficult to think of such businesses thereby investing your money in the wrong business.
If you are confused about the type of business idea to start while sitting at home and be successful, then you are in the right place and on the right page.
GoldenNewsNg has researched and discovered that there are so many online business that our readers can start and grow it to become millionaires within the remaining months of 2024, hence a need to compile a list of 22 online business that will make you a millionaire.
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We’ve got you covered.
1. Website/Professional Blogging
This online business can make you a millionaire in one month. All you have to do is set up a blog/website using any of the popular blogging platforms like WordPress. Keep uploading articles when you start getting more traffic you can apply for Google AdSense. Depending on your blog traffic you can earn from $100 to $5,000 monthly.
Blogging involves writing, photography, and other media that is self-published online. Of course, like every other business, it involves connecting with people in writing. The Hallmark of blogging is frequent updates, informal language, and opportunities for readers to engage and start a conversation.
Blogging is not the easiest of online businesses though it is lucrative, it is always advisable to blog around your passion. You love music, football, movies, giving financial advice, or health advice. Whatever it is. It helps you stay consistent and remain passionate about what you do.
However, to make money fast, you need to focus on special niches because special niches have high CPC (Cost Per Click).
Here’s a list of niches with high CPC (Cost Per Click) :
- Finance and Investment
- Legal Services
- Healthcare and Pharmaceuticals
- Technology and Gadgets
- Real Estate
- Business Services
- Automobile
- Education
This doesn’t mean you won’t make money on other Niches. it simply means that the more valuable the product or service you are writing or blogging about, the more companies are willing to pay to advertise it online, which makes the CPC go up.
2. E-commerce
E-commerce Is another lucrative online business whereby Customers can access an online store to browse through and place orders for goods or services via their devices.
With E-commerce, you do not need to worry about a physical space like a shop or the location of your business which can even limit your customers. You can do this in the comfort of your homes and still be reaching out to the world. What you should be thinking about now is the product or services to sell. READ OUR GUIDE ON: HOW TO START AN E-COMMERCE BUSINESS IN NIGERIA – Earn Millions Every Month
3. YouTube Channel
YouTube is the most popular video publishing platform in the world. People relate more with videos than with articles.
Unlike blogging, creating a YouTube channel is completely free. But you have to meet some criteria before your channel can be monetized. I.e Have more than 4,000 valid public watch hours in the last 12 months or 1,000 subscribers.
Just like a web blog, it involves finding a niche or something to create content for and then create videos on them. You may not have to necessarily be the one in front of the camera to have a YouTube channel.
4. Cryptocurrency And Forex Trading
Currently, cryptocurrency and forex trading is the hottest online business.
It is all about trading currencies online. It involves the conversion of one currency into another. The amount of currency converted every day can make price movements of some currencies extremely volatile.
However, because of the high risk involved in forex or crypto trading, it is usually advisable to trade with an amount you can lose without going bankrupt.
20 Online Business That Will Make You A Millionaire
5. Social Media Influencer
Social media influencers are people who have built a reputation for their knowledge and expertise on a specific topic.
Different brands pay social media influencers to help them promote their product to their followers.
social media management for companies/individuals
This is very much self-explanatory. It is what it is, managing the social media account for companies, brands, and even individuals.
Social media is a very important part of any company that is willing to survive in today’s world but managing all social media accounts is time-consuming.
6. Drop Shipping
Dropshipping is a type of retail fulfillment that lets you sell products without managing, storing or shipping inventory.
All you have to do is Connect with the dropshipping suppliers and source product Advertise then in whichever way you want to, usually an online store, then you forward the customer order info to the supplier and the supplier fulfills the order.
One of the main benefits of dropshipping is that it simplifies fulfilment processes for merchants. However, to be successful, you’ll need to do your research and carefully choose your dropshipping suppliers and products. Read this detailed: Beginner’s Guide On How To Start Dropshipping In Nigeria
7. Online Ad Agency
An online ad agency focuses primarily on marketing business, products, and services in the digital world.
They do that through website design and development, search engine optimization (SEO), content marketing, paid online advertising, social media, email marketing, and other services. Online ad agencies are the replacement for flyers, radio stations, And newspapers in the online world.
8. Affiliate marketing
Affiliate marketing is all about referring new clients and customers to other businesses online and then getting returns for leads that convert to sales.
Most companies or businesses online usually have an account for affiliate marketers that brings in visitors that bought their product through the referral link of an affiliate marketer. An affiliate marketer gets a percentage for every sale through his/her link. Brands like Amazon have affiliate programs as well.
9. Freelancing
A freelancer or freelance worker is a self-employed person who earns money by providing services to multiple clients.
A freelancer is self-employed and not necessarily committed to a particular employer. A freelancer by a writer, graphics designer, music producer, web designer e.t.c. selling work or service by the hour, day, and job.
10. Create Online Course
This is easy to do as long as you have a well-grounded knowledge of what you intend to teach.
Platforms like Udemy and skillshare make it easy for your course to have sales.
Create a course by creating a video or a PowerPoint course or whichever way you wish as far as people can learn better. Then you can publish on any of the platforms.
11. Virtual Assistant
A virtual assistant is a self-employed worker who specializes in offering administrative services to clients from a remote location, usually a home office.
The typical jobs or tasks of a virtual assistant may include scheduling appointments, making phone calls, making travel arrangements, and managing email accounts. Virtual assistants anywhere charge from $1 to $100 per hour, and sometimes. You have to be able to multitask and also manage time.
12. Start A Podcast
A podcast is an episodic series of spoken word digital audio files that are likely stored with a podcast hosting company.
I like to view podcasts as an audio version of YouTube. You still have to subscribe which makes it easy to get notified too. Contents are easy to create because you don’t have to worry about your attitude on camera.
Podcasts with a large listener base tend to get paid the most money for ad space. The amount of money a podcast can charge for an ad is charged per hundred thousand listeners (CPM).
13. Mini-importation
A mini-importation business is a simple type of business where someone buys a product from overseas at a cheap price and re-sells it at a higher price for profit.
What you need to do is register your business, find a cheap and reliable Import portal, choose the right product, import, and then the most important part create an online ad especially on social media so people can sell your product and hopefully get purchases.
14. Data Entry
A Data Entry role involves entering data from various sources into the company computer system for processing and management.
At the comfort of your home, you can be paid by companies to do some data entry jobs.
This is a very common skill among freelancers. The most popular tool used for the task is excel and Google sheet.
15. Copywriting
Copywriters research, plan and create written content (known as copy) to advertise goods and services on behalf of a client.
All you need is good Strong writing skills, Communication skills, Technical skills, Creative thinking, problem-solving skills, and research skills.
Copywriting is not an easy task to perform, so companies pay dearly for it.
16. Create And Sell Apps
This may not be a very easy journey to start but it has been made easy with Android mobile apps that you can use to create apps.
Which would be much easier than using the android studio software. You can either decide to publish your app on the Google play store or sell it.
17. Jumia Agent
Being a Jumia Agent is just like a popular way to say an affiliate marketer for jumia.
You just have to register with jumia as an agent and then any order placed through you will attract a reward.
Depending on the products and number of orders made you can cash out even in millions.
18. SEO Services
SEO stands for Search Engine Optimization. Basically, SEO services are services typically offered by an SEO agency that helps companies succeed in search engine optimization which would thereby increase its visibility in search results on search engines like Google.
You help a website or content rank higher on Google.
Any company that has a website would require an SEO service agent. And It is a very legit way to make money online.
19. Email Marketing
Email marketing is up to 40 times more effective than social media, according to a study done by McKinsey & Company. It is simply a form of digital marketing that uses email to promote your business’s products or services.
Just like every other marketing strategy, it helps companies to promote their product and eventually sales. All you do is help compose a compiling email that would make buyers want to buy the company’s product or service.
20. WhatsApp TV
WhatsApp tv is now very common in Nigeria today. Who would imagine that one can make a lot of money using WhatsApp status?
You start by increasing your contact list, posting funny videos and memes. You can even organize giveaways just to engage your viewers. Then business brands can decide to advertise their product or service through your WhatsApp tv platform.
20 Online Business That Will Make You A Millionaire In 2022
21. Online Tutor
There has Been an uprising of platforms like Superprof. But you can organize a personal tutorial using any platform of your choice. Even creating a group on WhatsApp is also a good platform as well depending on the kind of tutorial you want to offer.
Students pay for the courses before they are given access to attend the tutorial online. Of course, you have to make sure they are paying for a valuable service.
22. Web Design
Web designing is a very lucrative skill to do online. And it is much easier now. Platforms like WordPress and Wix have made web designing a less tasking job to do.
That’s the 20 online business that will make you a millionaire in 2024 compiled by GoldenNewsNg Team.
