In today’s digital era, the realm of internet businesses presents an unparalleled opportunity for aspiring entrepreneurs, especially when it comes to starting with a modest budget of N30,000. This blog post delves into the heart of online entrepreneurship, offering a comprehensive guide to five simple yet effective internet business models that you can embark upon this year. Whether you’re a seasoned professional or a newcomer to the digital world, these insights will empower you to make informed decisions, maximize your resources, and navigate the exciting journey of internet-based entrepreneurship. Join us as we unveil these accessible, low-capital ventures and how they can pave the way to your financial success in 2024.
Unveiling Five Cost-Effective Internet Business Ventures for Aspiring Entrepreneurs
Every now and then, we get messages from our students about simple internet businesses they can start.
Their criteria for this kind of business are usually two:
- Simple and doesn’t require much work
- Little capital to start (around N30,000)
So because we wouldn’t want anyone reading this in December 2023 to make any mistakes, we decided to break down the 5 ways we know that are working right now
1. As a freelancer
In this case, you’ll be offering digital services like web design, graphic design, software programming, copywriting etc.
The only issue is you’ll need to learn a skill first.
And then you’ll need to find clients.
Feels like too much time is involved.
Also it’s not for lazy people as there’s a lot of work involved.
Plus as a beginner, you won’t be earning so much.
Our rating? 3/10
That takes us to number 2.
2. As an Ecommerce merchant
This involves simply importing small sized goods from abroad and reselling them at a profit.
The only issue is you need to buy goods, warehouse them, then test to see if the market will like them.
If the market doesn’t like them, you’ll have to try again.
Too much upfront capital needed.
Lots of testing too involved. And for every test, money’s involved.
Plus, importing from China since the pandemic has been stressful.
Though some people have found a way around it by going to their local market, taking pictures of goods and then posting online.
But the issue with this is the lack of variety and the fact you won’t be making as much profit as you should – feels like you’re working for the shop owners.
Our rating? 5/10
3. As a virtual assistant.
This is one of the easiest ways to start getting paid online because some virtual assistant roles don’t require special skills or proir experience. Just willingness to work.
The only issue is you need to find someone who needs an assistant first.
Just like in freelancing, you need clients.
You might also get paid peanuts because most people in the West are used to Indians and Filipinos who charge very low for tons of work.
So you might be working so much and getting paid so little.
Our rating? 5.5/10
4. As a Youtube publisher.
The reason we like this is because you can still be getting checks from YouTube for a video you did 10 years ago.
So every single work that gets on YouTube just needs to blow and boom 💰 🤑 💸
But that’s the issue.
You need your work to blow.
Mr Beast who owns the biggest YouTube channel took 5 years to go from 0 subscribers in 2012 to 1 million Youtube subscribers in 2017.
It takes a lot of time and also you have to constantly come up with and test new ideas.
You need lots of patience.
Also you need to have video editing skills.
Our rating? 4/10
5. As an Affiliate selling other people’s products.
Here, there’s no need to create a product.
You simply pick someone else’s product and help them sell.
And then get paid a commission.
Depending on the kind of product, commissions can go up to 85-90%.
One of the best ways for beginners to start online.
No need to rent an office or shop.
No need to buy goods or serious capital.
No customer service or handling of delivery as the affiliate platform handles all of that for you.
Can be done with a phone, so no need for a laptop.
Perfect for newbies.
Our rating? 9/10
So if you’re interested in learning how to do affiliate marketing well and get paid as much as 250k monthly, you’d be interested in a special program that will help any interested person become successful online.
the article offers a pragmatic and insightful analysis of various low-capital online business ventures suitable for beginners. These options range from freelancing, ecommerce, virtual assisting, YouTube publishing, to affiliate marketing, each with its unique pros and cons. The article critically evaluates these businesses based on factors such as initial capital requirement, skill level needed, potential profitability, and the amount of effort involved. It emerges that while freelancing and YouTube publishing demand specific skills and considerable effort, ecommerce and virtual assistant roles might offer moderate returns with variable levels of commitment.
However, affiliate marketing stands out as the most recommended option, scoring a 9/10 for its low start-up costs, minimal logistical hassles, and relatively higher earning potential. This option is particularly appealing for beginners, offering a balance between effort and potential rewards. The invitation to join affiliate marketing program underscores the article’s commitment to providing practical, actionable advice to its readers, making it an essential read for anyone looking to venture into online businesses with limited capital in 2024.