Making money is quite hard these days and we all know that money is needed to not only survive but to also live a good life. Starting up a business needs qualities and not just anyone can start a business and the aim of starting any business is to make profit (Yeah! Everyone loves profit).
A lot of Nigerians start businesses daily but only a few are fortunate enough to make profit from the business and only few people can make the business last and pass the test of time.
You must have been thinking of what it takes to start a profitable or ‘lucrative’ online business in Nigeria but the first thing to know is what an online business really is.
What Is An Online Business?
In Nigeria when most people that are not literate enough about online business hear the word ‘online business’ the first thing that comes to their mind is ‘Yahoo’ but the truth is that if you have that kind if mentality just quit it, quit it! Because if you don’t then you won’t be able to earn from the internet.
An online business can be said to be any ‘lucrative’ business or investment that you have to access with the aid of the internet and good Internet connection.

Types Of Online Business

You may be surprised to find out that there are only two major types of online businesses, Yes! Just two types. Do you want to know the two types of online businesses? If you do then they are simple and they are;
No capital online businesses.
Capital based online business.
Now let’s talk about them

1. No capital online businesses.

These are online business that do not require capital but sometimes you may need an extremely small amount of capital to get started. These business are simple to start and a lot of them are lucrative but if you want to make the ‘Dangote kind of’ money from them then you must be ready to invest more than a little.

2. Capital based online Businesses.

Capital based online businesses are fantastic because the amount of money you can make from these businesses is super amazing and overwhelming because you can make a lot of money. When you hear ‘Capital based’ don’t be scared because you don’t need a fortune to get started, so take it easy and breath in and out because you can make a lot of money by just putting in just a little investment.
Now you know what online businesses are and you know the types of online businesses that are available to you.

Its finally the part you have been waiting for and its the ‘How to start a lucrative online business in Nigeria’ part so here is all you need to know on how to start a lucrative online business in Nigeria.

How To Start A Lucrative Online Business In Nigeria

There are 1001 ways to start a business but there are only 6 ways to start a lucrative online business in Nigeria and these are;

1. Gain Knowledge.
Knowledge is a paramount factor in online wealth creation and you will agree that you have to be knowledgeable on any business you want to start, because without proper knowledge on the business failure is inevitable. Its good to say “knowledge is wealth” because in this case of online businesses knowledge can help you in a lot of ways, so if a long lasting and lucrative online business in Nigeria is what you seek then all you have to do is gain knowledge first.
2. Learn (Skill Acquisition).
A lot of people in Nigeria believe that starting an online business will make them rich overnight without doing anything but that’s not the right believe because the internet is like a market and you need something to in order to make money online.
3. Don’t Expect Super Quick Returns.
Like every other business, internet business needs time to grow before it can yield a lot of returns. You don’t have to expect your phone or laptop to vomit money because its online business
4. Master Risk Taking 101.
Risk taking 101 is not a subject you learn in school or something but its certainly a subject in life because you can’t go forward in life without taking risks. Online business has its up’s and down’s just like every business so its not a win or a loss always.
5. Capital.
You need capital in every business no matter how small and its the same with online businesses, you have to put money to make money.
6. A PC & Good Internet Connection.
You can’t enjoy an online business without a good PC even though you can use your phone(the phone has to be super smart) and we all know that there can’t be good Internet without an almost perfect Internet connection.

Advantages Of An Online Business

✔You don’t need an office.
✔Ability to work from home.
✔You will become your own boss so ✔say bye to that your grumpy boss.
✔Steady and reliable outcome.
✔Less stress.

Disadvantages Of Online Businesses In Nigeria

Is there a disadvantage? Don’t think so except the fact that you’ll have too much money to take pictures of and upload on social media (lol).
Finally! You have all you need to start a lucrative online business in Nigeria.
What are you waiting for? Get started!