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#FinTech: 10 Best Personal Finance Apps in Nigeria

Stephen Gbolagade

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Just like in different parts of the world, personal finance apps in Nigeria are capable enough to keep track of your business’ monetary transactions while maximizing the potential of making incentives on the way.

In a country that’s slowly catching up with digital trends, the citizens, who in search of money, have resorted to less prominent ways of making money and transacting business. The ease of setting up and running a profitable business is beginning to get better.

To make it much better, smart Nigerians have invented much better ways of facilitating business, carrying out financial transactions, or online money-making by creating suitable platforms to enable better businesses and most importantly, a good financial life.

Enter Fintech apps in Nigeria!

Today, I’ll be sharing the best 10 personal finance apps in Nigeria to take your finances to the next level. I’ve made more money by utilizing these apps. The good part is that they’re all available on your favorite app store, whether Android or iOS.

Before we dive in, kindly note that this post and the contents therein is not financial advice. You’re solely responsible for transactions or investments carried out on any of the apps below.

While this post stands to inform you, I also advise you to carry out proper research before making any investment or carrying out any transactions.

Now that we understand each other, let’s explore the top Fintech or personal finance apps in the country.

Best Personal Finance Apps in Nigeria – (Fintech apps)

1. Piggyvest

One of the best personal finance apps in Nigeria, Piggyvest is all you need to take your saving to another level. So basically, Piggyvest is a high-interest saving account that gives you more incentives than what you get from your commercial banks.

Piggyvest comes with many savings packages with interest rates ranging from 7 – 13% per annum. The Safelock feature lets you lock out funds for a long time. A similar thing applies to the Target Savings feature where you can incentivize your savings plan by setting a target.

These are two of the best saving plans on the Piggyvest platform but there’s more to it. You also get an investment option right at the heart of the app. With Piggyvest, you just can’t go wrong. Plus it’s got one of the best-looking designs which makes it much better looking and fun.

The best part of this app is that, you’ll be rewarded N1,000 if you join now and start saving money.

…and If you invite 1 person to use the app just like you, you will be given another N1,000 as referral commission. If you invite like 10 people, how much will Piggyvest give you as reward? Do the math yourself.

Note that the main purpose of this fintech app is to help you save and invest wisely, the referral bonus should be taken as ‘bonus’.

Click here to start using Piggyvest now!

2. Barter (By Flutterwave)

We all know Flutterwave, at least you should if you’re conversant with online payments over the last couple of years. But this is Barter, a really useful app for carrying out payments.

Paying for online services has never been this easier. Barter breaks the barrier of the dollar spending limit on Naira’s debit card. Its flagship feature is the ability to create and use Virtual Cards (especially dollar cards).

With Barter, you can pay for your favorite online services like Spotify subscription, Apple Music, and a host of other services. It cost just $2 to create a fully-functional dollar card, while $4 will give you a working Gift Card. 

Do check out Barter as a host of other amazing features awaits you on the app.

3. Bundle

Though they’ve been other cryptocurrency service providers in Nigeria, in just a short period, Bundle has taken the crypto space by storm. 

This is one of the best personal finance or fintech apps in Nigeria that lets you buy and trade in your favorite digital currencies with ease.

With as little as N1,000 you can state making from some crypto money from Bundle. The charges, as compared to other providers, are relatively cheaper. Plus, you also get your favorite cryptos like BTC, BNB, ETH, Doge, TRX, and more.

Bundle also lets you save in your favorite stable coins and earn some cool interests. There are Fixed and Flexible saving options to also make money.

Bundle is still in its early days, but with many subtle improvements in recent times, we can only expect nothing but the best in the coming years.

Click here to Join Bundle for FREE!

4. Invest Bamboo

Up until recently, there’s been this belief that it’s practically difficult to invest in the stock market due to its accompanying complexities. Well, that’s in the past and left for historians to add that to their history books. 

With the Bamboo app, investing in the stock market (U.S. Stocks) has been made much easier.

Bamboo allows you to earn commissions by investing in some of the top U.S. firms like Apple, Tesla, Google, and more. 

The app also features a watchlist to keep track of your favorite stocks. In the same light, you also get the latest news, information, and educational materials on better ways to grow your stocks. It’s another nice app to add to streams of income.

5. BuyCoins Africa

With cryptocurrency going mainstream in Nigeria, more and more service providers are springing up to make digital currencies more accessible to Nigerians. And this is where BuyCoins comes in!

BuyCoins_Africa is a traditional cryptocurrency app that allows Nigerians to buy, hold, and sell their favorite cryptocurrencies such as BTC, ETH, LTC, USDT, USDC and NGNT. 

A good thing about the Buycoin app is its ease-of-use. Even a newbie will go through the numerous functionalities available on the app. To get the full benefits of the Buycoin app, you’ll need to provide valid documents such as BVN for verification purposes.

The best thing about Buycoin is the Peer-to-Peer (P2P) trading!

While it’s quite difficult for some exchange and trading platforms to quickly adapt to the CBN bans on Cryptocurrency in Nigeria, Buycoins is among the top platform that has been supporting P2P trading in Nigeria.

Asides the P2P trading, you can also use Buycoins’ sister app, SendCash_Africa to receive payments, especially freelancers who offer services to non-Nigerians. Your location shouldn’t be a barrier. You can add crypto as an option for receiving payment.

6. Kuda Bank

Digital banking is slowly becoming a trend in the Nigerian financial system. And Kuda Bank is at the forefront of it all. 

Also known as the ‘Bank of the free‘, Kuda is changing the way we carry out banking activities and this is why it is first banking app to make the list of this best personal finance apps in Nigeria.

Unlike what we have with conventional commercial banks, Kuda Bank is free of SMS alert charges, card maintenance fees, and other fees that we usually pay on using these banking services. 

Kuda also offers advanced levels of security to safely use your account. And as an extra, freelancers can easily receive their Payoneer funds by linking to their Kuda account.

The best part?

You don’t need to visit a physical office to own an account, you even get a free debit card once you open an account.

use “XN566F1L” to Join & Click Here to Start Using Kuda Bank Now

7. VFD Microfinance Bank

Not entirely a virtual bank, but VFD Microfinance bank does provide services in tandem with digital banks. VFD is quite new but has gained traction in just a few years of launching, and was even endorsed by Don Jazzy. 

VFD Bank provides all the financial services you also get from other commercial banks. No arrant charges, all transactions are almost free except what is beyond VBank’s capability such as the cardless withdrawal services and cable payment.

But the good thing is: you cut your losses on flimsy charges which you get from these other banks. But there’s more. VFD Microfinance finance bank also gives you wonderful interest on your savings if you choose to. 

You also get access to various loans like employee, travel, secured, or unsecured loan, if you meet the requirements. The mobile app also lets you pay for bills, flights, TV subscriptions, and many more. It’s a complete banking package you can’t resist.

Use this code “N8AXD” to Join VFD (VBank) Today & Start Enjoying Good Banking Transactions!

8. Chipper Cash

Making cross-border payments hasn’t been this easy. With Chipper Cash you can easily chip your friends, relatives, and business partners across Africa. You earn commissions for carrying out transactions. 

You also get to pay bills without any charges. Plus you get to make transfers across different African countries including Nigeria, Uganda, Ghana, South Africa, Kenya, Tanzania, and Rwanda for free. 

To earn more, you can join their referral program to earn commissions as friends join and use Chipper Cash via your link.

9. Trove

Trove is quite similar to the Bamboo app I shared above. Trove is much robust in the sense that it lets you invest in both U.S. and Nigerian stocks. The app interface is pretty neat and categorizes everything into the right sections for easy navigation.

Trove will give you tips, news, and more about the stock market. There’s also a section on the app where you get to see the trending stocks to invest in, plus the latest news on your favorite stock.

Trove makes it easy to trade stocks and also earn commissions in the process. 

10. Rubies Digital Bank

Rubies is a fully digital bank that lets you carry banking activities right from the comfort of your smartphone without having to visit a physical bank.

With Rubies, you can pay your bills, buy airtime, and pay for services on your phone. You can also create a savings plan to gain more interest on your savings.

One feature to watch out for is Rubies’ flat fee of N10 for all transfers, no matter what amount. If you are into the digital side of banking – which you should – then you should try out Rubies today.

Personal Finance Apps in Nigeria – Are they worth using?

If you choose to make some extra money, then you should check them out. But as you do, please carry out extra research before investing in any of the above platforms. Feel free to share other platforms you use for personal finance. 

Also, feel free to share your experience with any of the apps listed above if you’ve tried them. 

So, there you go – the top 10 personal finance apps in Nigeria.

My name is Stephen Gbolagade, people say I'm a multi-skilled guy. I guess maybe because I'm a Blogger, Website Designer, SEO specialist, Content Writer, Business coach, Digital Marketer, and Self-taught Frontend Developer. But what do I have to say about myself? My contents, personality, and services will say and prove the person I am to you. __________________________________________________________________________ You can hire me for Music Promotion, Website Design or Blog Setup, Marketing and any Digital-based tasks! __________________________________________________________________________ Contact me here on Facebook :: Instagram :: WhatsApp __________________________________________________________________________ If you're inspired by me and think it's necessary to buy me a cup of coffee, you can give me a tip HERE 👌

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Business

Top 5 Business Movies Every Entrepreneur Should Watch for Inspiration

Stephen Gbolagade

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Will these business movies really inspire or motivate me? Let me ask you: Are you inspired by how successful entrepreneurs and founders like Mark Zuckerberg, Steven Jobs and others are able to build a strong multi-billion dollar business?

If yes, that means you’re really going to be inspired watching these 5 recommended business movies aligned below.

But why business movies and not books like “Rich Dad Poor Dad”?

Most times, you need to watch some business movies as an entrepreneur in order to virtualize (or see) the concept and how a business strategy is pulled in the move and gain inspiration.

Movies have been around for decades and have continued to grow and get better in terms of quality. While they were originally set out to entertain, movies now educate, inform, tell a story, or even foretell scientific advancements.

I don’t know about you, but I’ve learned a lot from movies and that has shaped my life to be what it is today. This is why I decided to share some business movies to kindle that entrepreneurial spirit in you. You would love them!

1. The Wolf of Wall Street

Starring Leonardo DiCaprio as Jordan Belfort, The Wolf of Wall Street is a story of a young man struggling with his finances, but then a timely swing of events, plus determination, propelled him to one of the top guns in Wall Street. 

Jordan begins to work as a broker in L.F. Rothschild. In no distant time, he assumes the lifestyle of a conventional broker. It was all fun till he lost his employment following a Black Monday event which caused a significant drop in the prices of stocks. Not giving up, he takes up a job in a firm that invests in small stocks. He’ll soon make a fortune due to his persuasive pitching style before moving to start his brokerage firm.

Jordan Belfort starts his new firm alongside his friend Donnie Azoff. He then employs some of his friends and trains them in his persuasive style of pitching otherwise known as “hard sell”. Jordan, alongside his workers, begin using deceptive measures to make money off unsuspecting clients.

He transcends into a flamboyant lifestyle where he also engages in drugs and prostitutes. He is soon made out and the intelligence agencies are on his neck. Jordan tries to conceal his illegal dealings by opening a Swiss account in the name of his wife’s aunt. During this period, the authorities get hold of some of his friends who wouldn’t speak at first. 

It’s been over two years and his business is down while trying to save his name. But he’s soon caught after a connection to his friend who was already arrested sold him out.

This business movie (The Wolf of Wall Street) teaches entrepreneurs about the dynamics of moving from small to making it big. It pinpoints the risks you’ll have to take and the accompanying consequences (good or bad).

2. The Social Network

The social network is the biographical story of Facebook’s founder and CEO, Mark Zuckerberg. Neither Mark nor any of Facebook’s staff is present as cast as all characters are fictional.

The Facebook founder is played by Jesse Eisenberg who is a young Harvard University student with a love for computers. To soothe the pain of being dumped by his girlfriend, Jesse takes to his LiveJournal Blog to create a post insulting his girlfriend. 

He then goes on to create a website called Facemash. The website was created by hacking into the school’s database to steal photos of female students. Jesse aimed to allow students to rate the attractiveness of these females. But his exploits will result in the crash of the school’s network due to a huge influx of traffic. Jesse is given 6 months probation.

But Facemash’s popularity attracts the attention of the Winklevoss twins who then approach Jesse to help build a site to be named “Havard Connection.” The site would be a social network connecting Havard students who are interested in relationships and dating.

But Jesse had other plans. He came up with his idea of a similar social media website but in his case, it was meant for Ivy League students. To bring this to life, he approached his friend Eduardo Saverin who then provides $1000 in seed funding for the website called “The Facebook”

The website soon became popular and grew exponentially. But this infuriated the Winklevoss twins who believed that ‘Thefacebook’ came from their idea. Several court visits ensued as both the Winklevoss twins and Saverin laid various accusations on the Facebook founder.

After wide acceptance from students in just a few months, the site was made accessible to other top European Universities. Soon, it was made available for everyone worldwide. And the rest, they say, is history!

3. Jobs

The movie Jobs was shot in 2013 and tells the story of a Reed University dropout, Steve Jobs who went on to become the founder of the biggest technology firm in the world today — Apple.

The movie begins with Jobs introducing the iPod at an Apple Town Hall event. Before that, a flashback of events shows how young Jobs which was played by Ashton Kutcher, drops out of college due to high tuition. He then goes on an intellectual adventure to India before returning to LA where he began working as a video game developer.

ALSO READ: How to start a successful real estate business

Jobs soon teams up with his friend Steve Wozniak to keep making video games. They went from making video games to now fixing and producing computer hardware components. Jobs then discovers a prototype computer built by Wozniak and is interested in making money from it.

They both founded their company which went by the name Apple Computer. The company keeps growing even though other competitors like Macintosh gave Apple a run for their money. New board members are soon elected including a CEO, John Sculley. Jobs is intoxicated by the fame and power and soon begins to fire his workers with reckless abandon. 

The board grows tired of Jobs’ notorious attitude and is soon freed of his duties by the CEO.

But Jobs will return to become the next CEO after getting married. He then ensures that computers should be easy to use and build a brand around them. The brand will go on to be one of the biggest and the best technology firms in the years that followed.

This business movie (Jobs) set out to teach entrepreneurs the importance of creating value and the ins and outs of customer relations. The dynamics of being at the helm of affairs and staff relations.

4. The Founder

The Founder is another biographical American drama that tells the founding story of McDonald’s and how it became so popular that it now feeds approximately 1% of the world’s population daily. In this nearly 2 hours biographical drama, Ray Kroc, founder of McDonald’s is portrayed by Michael Keaton.

Set in 1954, Ray is a traveling milkshake seller who has just the right amount of money to cater for his wife and pay off his bills and nothing more. Not satisfied by his current state of finances, Ray begins to look for ways to expand his business beyond his hometown, Arlington Heights, Illinois. 

His quest takes him to California where he gets to experience one of the better walk-in restaurants. This was the ‘original’ McDonald’s which was owned by the Mac brothers — Maurice Mac and Richard ‘Dick’ McDonald. After being treated to a kitchen tour by the brothers, Ray smells a huge business potential (pun intended) and advises both brothers to franchise the business. 

The brothers are hesitant; citing previous failed attempts at franchising. But Ray is not taking any of that. He insists. He finally convinces the brothers to lead their franchising efforts.

And after an unfruitful attempt at franchising to high-class investors, Ray decides to franchise to middle-class investors. In what seemed like a temporary growth of the business, Ray and the brothers began to struggle financially.

Ray and the brothers were soon put out of their misery as a financial consultant, Harry Sonneborn helps in providing real estate support to the franchises. Ray is keen on taking over the business and offers both brothers a blank check.

They agree on a price of $2.7 million one-time payment with an annual 1% royalty. But Ray pays them off without the royalty and takes full responsibility for the business.

The Founder teaches the act of persistence and how to get it right. It also highlights the importance of pivoting when things aren’t working out well in a business.

5. The Pursuit of Happyness

Notice the ‘y’ in place of ‘i’ in the heading? That was done intentionally by the movie authors. The Pursuit of Happyness is a story of a young San Francisco salesman, Chris Gardner, played by Will Smith.

Gardner is worried about his financial condition and develops a medical device that he believed to be a better alternative to the X-ray. Gardner stumbles on the manager for Dean Witter Reynolds, Jay Twistle while trying to sell his scanners. He impresses the manager by solving a Rubik quiz while in a taxi. Gardner’s efforts in selling his scanners prove futile.

His wife is running out of patience and leaves to work at her sister’s boyfriend’s restaurant in New York. Gardner’s problems are compounded after he and his son were evicted from their home.

He struggles to get his son (Jaden Smith) through school while trying to get his finances back on track. His relationship with Jay Twistle will then qualify him for an unpaid intern position. Against all odds, Gardner impresses in the interview and earns one of the 20 available positions of an unpaid intern.

Not still satisfied with his living conditions and in pursuit of happiness, Gardner decides to go against all odds; doing the extraordinary. Gardner defies protocol, going against the grain which then earns him a seat as one of the paid stock brokers. He will then go on to establish his own multimillion-dollar brokerage company.

Conclusion: You Need to Watch these Business Movies!

Being an entrepreneur involves taking lots of decisions on your own which directly or indirectly affects the growth of your business. While we try to learn certain entrepreneurial skills in a more formal way, movies are a good way of enlightening ourselves while getting entertained.

These 5 Business movies listed above will certainly open your eyes to one or two things, no matter how smart you’ve been running your business before now.

If these movies’ recommendations are pretty cool, someone you know might love to watch them too, kindly use the floating social media icon on this page to share to your social media timeline in less than a minute!

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Top 10 Business Ideas for Students in Nigeria – To Make Money Easily

Stephen Gbolagade

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Are you a student in Nigeria but looking for a (legit) way to make money without any alteration to your academic life?

Let’s talk about these business ideas for students in Nigeria and from these businesses, I’m sure one out of them is going to meet your interest.

Students in Nigeria and some parts of the world need finances to power their academics or take care of their general upkeep. But having to combine academics and work may yield unfavorable results on both ends.

Bearing this in mind, it’s important I share some easy but also profitable businesses that will help you as a student make some money.

If you’re interested in making money while in school, join me as we take a look at the following profitable business ideas.

Ten (10) Business Ideas for Students in Nigeria

1. Organizing Academic Tutorials

Before you call me out that tutorials aren’t a form of business, hear me out. Truth is, there are lots of businesses out there for students to engage in. But sometimes, these businesses, though highly rewarding, tend to make students lose track of their primary goal.

But that’s not my aim with this post. 

This is made up of less distracting business ideas for students in Nigeria. Ideas that are easy and do not need to be present 24/7 to make some money. And this is where organizing academic tutorials come in.

Now, if you’re well versed in a particular course or subject, or even a topic, this could fetch you some money. You can do this for course/level mates and other students in the institution.

Sometimes, you can be organizing tutorials for JAMB, Post UTME and Direct Entry students.

Are you thinking of location? Well, you can find a good spot in your school or outside the school. And also, if you have the tools, you can run this tutorial service online.

I don’t know how you will charge them, but I’ve met someone who charges N2,000 per hour regardless of how many students. And some people might charge like N5,000 per month. 

You just need to experiment with what will work better for you.

The higher the number of students, the more money you stand to make. Only do this when sure of yourself about that particular field. Students attending your tutorial classes expect to get value for their money. 

If you can’t offer that, then you’ll have to watch them trickle out of your classes.

Give them value, and in return, they’ll give you money!

2. Catering Service (Soft drinks, Snacks, small chops, and foodstuffs)

Wait, I’m not saying catering is an ideal business ideal for students in Nigeria, as this will take your nearly 80% time if you want to make it big.

Here, catering services for students like you, isn’t about opening a store or getting a business location. The catering service I suggest here is much of a small scale service.

Students are either busy, stressed out, or just don’t know how to cook. All students fall into any of these three as such resort to junk food or fast food.

You can take that upon yourself to provide these food materials. Items such as small chops, snacks, and soft drinks are some of the better options to start with.

You can start making sales right from your house. You’ll just need to create awareness to your neighbors and fellow students.

Since the world is now digital, you can make this known by sharing it on your social profile to reach more people.

A good thing about this business is that it isn’t capital intensive. It’s easy to set up, plus you don’t need to do it 24/7. You’ll have some time to spend with your books.

Is it easy, of course, it is. Even if you’re not the best chef who makes those lovely doughnuts, you can buy in bulk and retail to make some money. Same applies to soft drinks as well.

You can hire a sales girl to stay in your “joint” on your behalf while you face your studies and come back when you’re done at noon. Hiring a (trusted) sales girl will really help your business and simplify your life.

3. Clothing

We all love clothes. It’s one of the necessities of life. Students want to look trendy and you can help them do that. As a student, you can start making money with the clothes retail business. 

No, I’m not saying you should go out there and buy a whole big chunk of clothes. Don’t do that. Instead, you buy in smaller chunks then retail at an inexpensive price. The best part about this business is that you don’t need to engage in it 24/7. 

This means you still get more time to look at your books and attend classes.

Just like Jumia and Konga, you can start taking orders from your social media profile. It’s pretty easy once you’ve got a hold of social media. 

Just gets lots of friends to follow you if you haven’t done that already. Then you can go ahead and start sampling your wares on your social profiles.

Once an order is received, both parties will agree on a delivery pattern. And as students, they might understand when delivery isn’t swift. With time, you can expand your business to non-students and even across the country. 

4. Makeup, Decorations, Hairdressing, Barbing & Event planning

Just like clothing, looking good is one of the underrated necessities of life. Because as you must have heard from the cliché phrase, how you are dressed is how you’ll be addressed. They work in tandem with each other — clothes and makeup.

You don’t have to do this daily. Even if you do, you could do this in the evenings and make some good money. But one thing is guaranteed. Your weekend won’t be for resting as is the tradition to get a new haircut (I just did), plait a new hair, or have our events on weekends.

But you can still make good money every weekend once you know and master your craft. These skills take some time to get good at them. If you can put in the time in learning, then earning money from it isn’t far-fetched. Also, consider a good location when starting. It’s everything.

A good location will in most cases, determine how well your business performs. And we all want our businesses to perform pretty well.

5. Dropshipping

I still think dropshipping is underrated in this part of the world. It’s a viable business idea if you look at it. From the few who’re already doing dropshipping, they’ve got no regrets whatsoever. 

As a student, this is the ideal business for you. All you just need is the capital to finance it at first which isn’t that big. 

You don’t need a physical space to conduct your business. You don’t even need to handle your wares physically. Since it’s slowly becoming a virtual world, you just need a virtual space.

Why is this business ideal?

First things first, it’s scalable and can reach millions of people around the world, unlike your physical space where you’re limited to those around your vicinity or social circle. Also, the business of dropshipping is portable. You can run this business from anywhere. 

If you’re thinking of getting started, we’ve got a whole lot of posts on dropshipping. Check the recommended articles below;

6. Start a POS Business

POS Business is very hot in the country and tapping into it now will be an advantage to your pocket.

As a student, you don’t really need to spend your 24/7 in the kiosk just to make sales, you can as well hire an attendant to handle it for you.

You may want to ask;

How can I start POS Business in Nigeria?

Well, I got you covered in one of my previous blog posts, kindly check the quoted link below:

How to Start POS Business in Nigeria

7. Become a Real Estate agent for students

I have a friend who’s a student and in real estate business. But not that big real agent you’re thinking of, here is how it works;

  • You look for new and vacant hostels in school area
  • You get in touch with the caretaker or the owner
  • You strike a deal to help the caretaker or owner find students who need hostel
  • You take commission on each student
  • That’s all.

But hey, real estate business is truly a profitable business idea for students in Nigeria but it requires “dedication” a lot.

You will need to trek a lot in search of hostels without an agent, speak with the caretaker and again look for students who need a hostel, show them the house and repeat every time and then.

If that’s what you can do, the two links below will help you become a successful person in this business;

8. Freelancing and Drop servicing

This should be my number one before all these profitable business ideas for students in Nigeria but here we are!

Freelancing as business is simply working (selling your skills) remotely to those who need it and in returns, you make money.

Before you can become a freelancer, you need to have a skill you’re really good at.

Check here for the hot-selling Digital skills you can learn.

And just in case you don’t have any skill but still want to make money as a freelancer, then you should start “drop servicing” business.

Drop servicing and freelancing are the best business ideas for students in Nigeria, because they’re not capital intensive, no location barrier, you determine how much you want to earn and how, when and where you want to work.

Here is how to start drop servicing business as a beginner.

9. MC and DJ Services

If you are good at anchoring an event or ceremony, or you can DJ either with deck or Virtual DJ, then you can make money from that as a student.

Also, these businesses will not disturb your academic as MC and DJ job gigs is usually available on weekends. SO, you have the rest of the week to study.

You don’t really need to buy anything as an MC than to work on your humors (i.e. Be funny enough to catch audience attention) and public speaking skill.

As a DJ, you need to have a laptop even if you can’t afford a deck yet. Also know the right songs to play at a particular ceremony.

10. FOREX and Cryptocurrency

This is not a financial advise!

I’m sure you’ve heard about FOREX and cryptocurrency before now. Well, it’s one of the lucrative business ideas you can venture into.

NOTE that FOREX and Crypto trading is very risky, you can loose lot of money and on the other hand, earn lot of profit if your analysis is correct.

I will never advise you to venture into FOREX trading as a beginner, you need to learn the nitty-gritty of how it works and how to trade it.

In the meanwhile, you can invest and make money  in cryptocurrency without trading it. Yes, it is possible. If you will like to know how, check this blog post on 8 ways to make money with cryptocurrency.

Again, don’t put your money in FOREX now until you know how it works!

Conclusion: Best Business Ideas for Students in Nigeria?

That wraps it for us on this post. You’ve seen some of the easy but profitable business ideas for students in Nigeria that can fetch you some bucks. 

But I’ll also like to hear from you if you are or were a student. What are you currently doing to make money? And if you’re no longer a student, what idea(s) did fetch you some money in your school days? Hit me up in the comments.

Kindly follow this blog on Facebook and Twitter.

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How to Start a Drop Servicing Business: Make Money Online Without any Skill

Stephen Gbolagade

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Have you ever heard about Drop Service or Drop Servicing Business?

It’s one of the hottest business to make money online these days, even without any special skill than what you already know. It somehow works like a referral or affiliate marketing business but kind of different.

In this blog post, I will show you the nitty-gritty of what you need to know about running a profitable drop servicing business in Nigeria or anywhere in the world.

But before we get into it, let’s me introduce you to the business.

What is Drop Service?

This is the act of getting a service offer or job, and you hire someone to do it while you earn your own profit or commission.

Simply as that!

Let’s say you get a job to design a flier or banner (that cost $50), and you don’t know how to design anything, you can simply look for a graphics designer to do and you pay him or her about $30.

Then you get the final project from the graphics designer and deliver to the client.

You’ve just made $20… congratulations!

That’s just the simple concept of drop servicing business.

How Does Drop Servicing Business Works?

As explained above, drop servicing is simply by bridging the gap between the client and the freelancer who will do the job.

Note: You don’t connect, but you bridge or cover the gap between them.

The client believe you know how to do the job, he gave you the task, then you turn yourself to project manager and you get someone to do and finish up the task.

If you are familiar with drop shipping, you will notice that they’re of the similar but not the same concept.

Let’s talk about it.

Drop Servicing Vs. Drop Shipping: The Difference

Drop servicing business work more like Drop Shipping.

The difference between them is that Drop servicing deal with “SERVICES” and Drop shipping deal with “PRODUCTS”.

PRODUCTS involves physical shipping etc., but SERVICE doesn’t require that.

Although, you can do the same business digitally (on the internet).

But Drop shipping is not as fast as Drop Servicing when it comes to its versatilities. Why?

Because drop servicing business deals with hot services that business owners need to push their business forward. While in drop shipping, people might not necessary be interested in the products.

RECOMMENDED: How to Start a Profitable Dropshipping Business

Now that we are understanding, let’s talk about top services you can sell in drop servicing, then we will talk about how you can start a profitable drop servicing business wherever you are.

Hot Services to Sell or Render in Drop Servicing Business

  • Web Design and Development
  • UI/UX Design
  • Graphics Design
  • SEO Management
  • Content Writing
  • Copy Writing
  • Social Media Management
  • Virtual Assistance

And so on.

You may like to check these 18 hot digital skills to be familiar with these services.

The question you may want to ask is;

Is Drop Servicing a lucrative business?

YES! Drop service or drop servicing business is a very lucrative business.

I would have said it’s a lazy way to make money online without any skill, but not really because you’re still going to do the job in getting clients who need the service.

The best thing about this business is that, you can run it on your smartphone even if you don’t have a laptop and it is 100% online. So you don’t need to quite your job or drop out of school (happy?).

Personally, I’ve done this business before and it really paid off.

Although, I have the skillset to get some projects done, but there are things I don’t know but that will never stop me from taking the job from a client.

For Instance, I’m a web developer.

If a client said he need a website, I can handle that but If he says he need a logo for the website, I will still take the job though I’m not a graphics designer.

But I will outsource the job somewhere and ensure I make my profit from it.

You as a person, you can do the same…

You don’t necessarily need to know much about the service, just get someone who can do it.

I know people who make millions from this simple drop servicing business model and yours will not be strange or difficult.

Someone asked a question about this business, he said;

Is Drop Servicing Business Legal?

What do you think?

Drop Servicing business is 100% legal. In fact, it’s going to become a big industry very soon.

It’s a skill on its own, because hiring a talent to handle a project is not easy at all, but for you to get a job from a client, and get it delivered to him, there’s nothing wrong in that.

All you need to do is to be honest, don’t be greedy.

Now, let’s talk about starting, shall we?

How to Start a Profitable Drop Servicing Business

·       Choose a niche

I’m not going to talk too much on this.

Choosing a niche is the first thing you need to do before you can delve into drop servicing business.

What is a niche?

Simply put, a niche is an area you want to focus on. Or a place you can be found anytime, any day.

In this case, a niche is a SERVICE you want to specialize on.

A SERVICE. Remember you’re just starting out, so I will recommend you choose a service that is hot in demand as your niche for now.

It can be web design, product design, graphics design, content writing or whatever service you know that people need the most. Please do your research on this.

Note again, you don’t necessarily need to know anything about the service for now, just ensure it is hot!

·       Do your research on the niche

Okay, you’ve chose a niche, right?

The next thing is to sharpen your cutlass a little bit.

Let’s say you chose “Web Design” as a preferred service you want to render, you need to take a book and go to Google.com to do some research on “How to get web design job”.

Although the results might be a little bit tense or technical but don’t worry, you just need the theory, someone will do the actual job.

The reason for the research is to be aware of possible questions clients may ask from you.

Let me give you a clear template of the research you need to do;

  1. What are the requirements to do this (website, logo etc.)?
  2. How many days will it take me to do this…?
  3. What’s the minimum cost of completing this project?
  4. Do the requirements involve payment? If yes, how much?

Those are the basic thing you need to research on.

Let me take web design again.

Web design will require something that you must buy before you can build any website. This includes the hosting, domain, theme and logo.

Just do you research to know how much those thing cost, because this will help you to charge your client wisely.

In case you don’t really get it, the next point will help you.

·       Look for talents

This is the most crucial part of drop service and you need to be careful and smart at this, if you really want to launch a profitable drop servicing business.

Go online and look for those who are selling that service and make friend with them.

Maybe you want to be rendering Graphics design as a drop service, look for graphics designers.

Talk to them, ask them about the charges to make different designs and note them down.

If they tell you they charge N50,000 for a logo, note it down and you can tell your client that you charge N70,000 for a logo.

You’ll negotiate for sure and maybe agreed of N65,000.

You can now go back and hire that graphics designer, pay him N50k and you hold the N15k profit.

I was just using that as an example though.

What I’m saying is that you should make sure you have those skilled people who will handle the job at hard.

Even if a client asks you a difficult question, just copy the question and ask the talents.

So, look for talents either on social media or anywhere you can find them.

Note: Tell them you’re going to be giving them projects, so they should give you discount.

Important Information: You can refer any client that needs website to me and I will give you 10% of what the client pays. If this is a nice deal for you, here is where to contact me.

·       Join freelance websites

This will ultimately serve two purposes; to get jobs and hire talents.

There are tons of freelancing websites outside there to help you make your drop servicing business a success. I will not write too much on this as I have few blog posts on this topic.

Check here for the top 10 freelance websites to get jobs and hire talents.

Create your profile on these freelance websites and whenever you get a job, quickly check on another person on the same website or another one just to do the job.

Ensure you bargain the price with them.

For instance, it is possible to get a project for N150,000 and get someone to do it for N50,000.

I’ve seen someone who get a job for N2.5m and get it done with just N100,000.

So, it depends on how smart you are.

You may want to know the best freelance website, right? Well currently we have Upwork and Fiverr at the top, but Fiverr is the easiest to get approved.

Check the blog post on how to start your freelance career on Fiverr.

·       Start Acting It

You need to start acting according to your new business now.

Update your Facebook, WhatsApp, and other social media platform. Tell people that you can help them get their website, or graphics design do.

Tell your friends to recommend you to those who need related service you’re drop servicing. But you don’t necessarily need to tell them you are into drop servicing business.

Do banners on Canva.com to advertise your new business.

·       Learn negotiation skill

In everything you’re doing in life, negotiation is important.

If you’re trying to ask a lady out and you’re serious about it, you need to convince here why she should accept your offer.

Same thing applies to businesses.

Remember that you’re still new in this drop servicing business, you don’t know how much this or that cost. That’s the reason I said you should do your research before fully delving into this.

And you need to send counter-offer to your clients.

What do I mean?

If you’re sure that $50 will complete the task the client gave to you, and the client said he will pay $70, you will make $20 profit, right?

Well, that’s cool.

But there’s a rule in business that you should never accept the first offer. Negotiate!

Tell the client to pay $100 and you will get the job done, and gladly the client might agree to pay $80.

Also, if the normal price to get the job done is $50, tell the person you want to hire to $40 from you and negotiate till he/she give you discount.

If you’re good at negotiation, you will make lot of money from drop service business.

·       Step up your game: Learn the skills

By now, you have known how to get projects and outsource it somewhere else.

And probably, the coming is coming is coming like “breeze” now. The next thing to do is to expand and grow.

If you’re been drop servicing web design and it really pay, why not learn how to design website and get the full payment instead of paying someone almost 70% of the money?

That is a great idea, don’t you think so?

Aside from learning the skill you’ve been drop servicing, you can learn the basics of other services too.

Maybe you’ve been doing web design, you can add graphics design to it and so on.

In everything you’re doing, look for a way to step up your game!

The next point will add some salt to this.

·       Start your own agency

What are you waiting for?

Start your full-fledge agency or company since you’ve known how the business work and you’ve built your reputation online or on the freelancing websites, you should expect more jobs.

As more jobs flow in, you will not be able to handle everything, so you need some people to help you.

And these people are no longer the talents you pay per project, but talents that collects salary or wage.

Let say you have five (5) people working for you in your agency, what you will be paying them per month will still at profit to you compare to those you previously pay per project.

You will although need to do more research on starting a consulting agency.

But note that you must been making money off that service you want to be selling before you transit to an agency owner.

Since you’re now serious with this, ensure you register business in your country. If you’re in Nigeria, you can register your business with Corporate Affairs Commission, CAC.

Starting an agency will really expand your business and open many doors to you. For instance, business owners in your area, city or country will trust to give their project to you.

You can check out the top 10 digital agencies in your country to see if they’re really doing well 😉

·       Don’t forget branding and marketing

You need to get people’s attention to be successful in consulting or drop servicing business.

And the best approach to this, is in two phases;

Branding and marketing.

Branding simply mean to great good online presence for your business. And this starts from your logo, website, social media handles and the type of contents you share.

Your branding needs to be unique, in the sense that when someone see it for the first time, it will create a patronizing impression on your business.

Branding is very important but often take for granted by some startups. So, go and do your research on creating the best brand identity for your business.

The next one is marketing.

Marketing will help drive sales and from that is where you can make money.

Learn how to run Facebook and Instagram ads. Then be relevant on other social media platforms.

Make money and invest on other business, maybe one day your name will enter Forbes list of rich men. Who knows?

That’s it – How to Start Drop Servicing Business and Make Money Online

If you’re reading this, you have read over 2,300 words which most people would have bounced off even before they get to 1,500 words.

I’m telling you this to remind you of your patience and tolerance.

Now, it’s time to take action.

Start today, start with your WhatsApp, Facebook account, Twitter etc.

Tell people you can help them get their website done. Start your drop servicing business with that smart phone.

Don’t forget that you just need to look for clients either on social media or freelance website and hire talents to get it done for you. And also, do your research on a niche before you delve into it.

If this is really helpful, kindly subscribe to my newsletter and subscribe to the blog’s feeds by clicking on the red bell at the bottom right-hand side of this page.

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Go and start the drop servicing business now and come back for your testimony.

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