Thread by @toyinomotoso

4 Proven Ways to Make N750k a Month In Nigeria

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Some people will read this and drop their funny comments about why N750k a month isn't possible.

Leave such people to their ways.

If you are willing to learn something new and put in some effort, here is a list of

4 proven ways to make N750k a month and that is being conservative.

(1) Do what Amazon and Jumia Does - This is also known as Ecommerce aka selling physical products via the internet.

Ecommerce is now a mega billion industry.

You can easily start a small Ecommerce business with as little as N50,000. But as a small business person, don't try to do it the way Jumia and Amazon does or else, you will go broke.

Instead, you want to use a minimalist strategy.

Start with one market, one product, one marketing strategy and move on from there.

The most important things you should focus on to win here are:

(a) Only sell what the market wants (not what you think will sell)

(b) Sell quality products only (You can source products from Nigeria, China, Hong Kong, Brazil, US and Turkey) - Just make sure they are high quality

(c) Watch your margins closely (This game has a lot to do with numbers because there are different things involved. E.g. Shipping)

(d) Don't lose your customers (Customers want to buy again and again. Give them the opportunity to do so)

(2) Sell knowledge products - This has to do with creating and selling helpful information to people in various products forms. E.g. Books, ebooks, video, training programs etc

Selling knowledge products is a billion dollar industry and this is how I made my first N1 million in business. The best part is that you can sell your products on the internet to anyone, anywhere in the world.

Today, people want to learn how to solve various problems and do a lot of things - and these things are not taught in school.

Here are some examples:

E.g. How to get a second passport

How to get twitter followers

How to hook and marry a rich billionaire even if you are 21

(3) Become a Coach or Consultant to Individuals and small businesses -

Coaching and consulting are also knowledge based businesses but they are different because you are not selling products here. Instead, you are selling advice on a one on one and more intensive basis.

If you can help people or businesses with something they want to achieve, you can charge them a fee to work with them one on one.

E.g. A lot of businesses need someone to help them with social media marketing.

And I am not talking about the blue chip companies. I am talking about the small businesses you see around. Depending on their budget, you can charge anything from N300,000 - N1.5m to work with them

With that, you only need about 2 clients to make N750,000 a month

(4) Sell for others (aka Be an Affiliate) - This is the easiest of all.

Let's even say you can't do Ecommerce, can't work with knowledge products and you can't coach or consult for people.

You should be able to promote other people's products and get a commission for doing so.

All you are doing here is to find someone who needs a products and connect them with a supplier of that product and get paid a commission for the transaction.

It is the same thing UBER does.

UBER simply connects a taxi driver (who needs passengers) with someone who needs a ride and is willing to pay for it. And they get paid a commission.

But you don't have to do affiliate marketing at the level of UBER.

Affiliate marketing is huge.

And you can be an affiliate marketer for all sorts of products on the internet.

Even knowledge products.

For instance, there are individuals who make anything from N100,000 to N1.5m in Nigeria just by promoting my knowledge products and that of others.

If you promote a product that pays N15,000 per commission as an affiliate, all you need to make N750,000 a month is to sell 50 of such product which is very doable.

If you like this post and want to keep getting more information and ideas like this, then you should go to 7starcourses.com and sign up for my newsletters on money, business and marketing.

And retweet so others too can learn...