Five ways to earn income online - 9jakam


Monday, 18 February 2019

Five ways to earn income online

One question I am usually asked is this : ‘ CFA, how can I make money online?’ If I have to rank the questions as asked either through SMS, email or physical events, I will rank this as the mother of all. In any case , this is a very fair question because as at the end of the third quarter of 2018 , the unemployment figure in Nigeria stood at 23 . 13 per cent, according to the National Bureau of Statistics . This is pretty alarming, when compared with countries like the United States that stands at less than four per cent and this is a country with some level of social buffers .
That said , the issue of unemployment is a scary one for me. The same labour statistics report showed that at the end of the third quarter of 2018 , 55 . 4 per cent of young people ( aged 15 to 34 ) were either underemployed or unemployed (doing nothing) , compared to 52 . 6 per cent in the same period the previous year . This is why I have taken it upon myself to become a staunch supporter of both start - ups and hubs across the country because as far as I am concerned , entrepreneurial ventures that seek to actively leverage technology will help to get more young people off the streets .

Today ’ s piece is dedicated to sharing a number of ways that I believe anyone can earn money online. The reality is that there is no magic formula ; it is simply plain, hard and rugged work, based on my experience . Even those who do ‘ 419 ’ as a business model put in so much time and energy , but sadly, on negative activities. I encourage you not to go that route , but rather engage in activities that would not only put you on the right side of the law , but may ultimately give you opportunities beyond your wildest imagination .
Here are a few money making opportunities available to anyone :
1 . Start a technology - enabled business
I am a witness to the amazing job that has been done by young people all across the country in the last decade . Yes , many of them have failed , but some are still alive and growing gradually . My first advice to anyone seeking to earn extra income online is to launch an enterprise that seeks to solve a problem . A few tips I will share towards achieving this include that you find a problem , carry out some form of basic research , develop a Minimum Value Product and find a mentor before going all out . Start small and scale gradually .
2 . Sell a product or offer a service
This is closely related to the first point above . It’ ll be difficult to make money online, if you do not have a product or service that someone , somewhere is willing to pay for ; so , create a new product and take it online. How about your services? That too can be unbundled and offered cheaply online, e . g . , as a legal practitioner , it may be wise to break down the services you offer and put on your website, so that you can attract Small and Medium - scale Enterprises, which usually regard legal services as something only big businesses can afford . Accounting, coaching, legal and many other services can be provided online and the beauty of it is that depending on the nature of the client ’ s needs , certain services can be provided completely electronically either through email or video services , like Skype , and the agreed fees paid online.
3 . Freelancing
An increasing number of Nigerians earn more working as freelancers than some corporate executives earn , and this makes it a rather interesting industry for anyone who has the time , skill and discipline to deliver jobs of the highest international standards.
Freelancing is huge at the moment and countries like India and Philippines are testimony to that fact . It is possible to make money online by providing services online – a number of service - based professionals would readily find someone online willing to pay for their services once they are convinced of the value.
4 . Forex trading
A few people have got their fingers burnt in forex trading , including yours truly , but this is not to say that it is not viable . I believe what has happened to the majority of people who must have had some sort of negative experiences is that we allowed ‘ fake promises ’ to becloud our sense of reasoning . I have a highly contented friend , who still makes money from forex, but some forex gurus will consider him a “ mugu” if they hear he is satisfied with the little he makes .
Let me state that it is advisable to attend forex trading classes first or find a coach before starting off as a forex trader . The chances of losing your entire investment are pretty high .
5 . Become an affiliate
Affiliate marketing is simply helping other people to sell stuff and earn money doing so . Let me explain the process . You sign up to be an affiliate for website A, who sells e - books , then you are given a special URL that makes the tracking of each sale seamless . You take that code and share online; some of your friends might see the links and visit the site . Once they make a purchase, the site ’ s affiliate marketing software informs you about the sale and your commission . There are a number of websites that you can affiliate with right away .
Finally , I ’ d stress that the buck stops on the table of the Nigerian government to create an enabling environment for the creation of more jobs for the rapidly growing population . A PUNCH report of December 5 , 2018 monitored online could not have emphasised this any better when it quoted the Head of the EU Delegation to Nigeria , Ketil Karlsen, as saying that “ the main responsibility should always be with the authorities ( government ) of Nigeria ; and frankly , it should be like that . ” He was speaking on why the EU initiated a skills acquisition programme for 17 , 000 adolescent Nigerian boys and girls and cautioning the Nigerian authorities not to be deluded into thinking that development partners alone will reverse the unemployment scourge in the country.
Need I say more ? There is fire on the mountain and all hands must be on deck to get Nigerians working both online and offline .

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