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25 Ways & Skills to Build Passive Income in Nigeria

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If you’ve been thinking of a way to build passive income in Nigeria, this particular page will show you more than 20 ways you can effectively and profitably achieve that. But why building a passive income?

It’s a known fact that most salary earners in Nigeria spends almost all the money for them paid, before the time of the next payment comes. This may lead to inability to purchase certain items for yourself, your family and take care of some responsibilities such as subscribing to some services and even discourage you from travelling to a certain places either for holiday or tourism.

Since the salary or wages aren’t that sufficient to cater for your needs, you’ll surely agree with me that it is important to improvise. And this the reason why we’re both going to learn the idea of how we can build passive income in Nigeria.

You might ask be asking……

What is passive income and how is it built?

Passive Income can come from a job where you’re not actively doing or a job in which you’re employed and paid by a “boss”. It is the money you earns other than your monthly wages – Simply put, it is called “side hustle”!

And to build passive income in Nigeria or side hustle, you need to be smart, digital savvy, consistent and ready to sacrifice enough time (plus ‘Patience’) and some bucks.

I know you’re ready for this? Please be informed that these passive income ideas here are the mashup of business you can start by investing little capital and other ways you can make money online in Nigeria without spending a dime.

Having that in mind, let veer to the main checkpoint;

The 25 Best Ways to Build Passive Income in Nigeria

1.   Book Writing/Publishing

Are you a versatile writer? If you can write great article such as story, history, tutorials, advice, motivation or any type of article and you can command English with your writing, you can start your way to earn money online from Amazon Kindle.

Amazon Kindle is one great place to publish your books and you could also write. You place a price tag on each book you uploaded to Amazon Kindle and Amazon will help you take care of the rest.

Yes, you don’t need to stress yourself much after publishing the book on Amazon Kindle but if you can promote it to your audience, it will be an added advantage to get sale quicker.

Although it take time to get a book ready, when it finally gets ready, the cash just keeps coming in.

If people love your love and the early buyers gave the book some impressive ratings and recommendations, then you’re going to keep earning from it until it fades.

So if you need a side hustle in Nigeria and you have penchant for writing, considering joining Amazon Kindle.

2.   E-commerce

You could as well get into the field of e-commerce and build passive income in Nigeria through it. Dropshipping would be an ideal option if you’d be venturing into the field of e-commerce.

Dropshipping is selling goods you don’t really have in stock and earning some commission on each successful sales. No risk and no stress. In fact, you can do it alongside with your 8-5 job.

There are lots e-commerce platforms for dropshipping to help you get started easily, Shopify and WooCommerce are a few amongst others.

You need to invest some money to build your online shopping store before you can start this business.

3.   Affiliate Marketing

Affiliate marketing is a type of online business where you partnered with a firm in order to help them sell their products or services.

A purchase made via your affiliate link gives you a commission usually in percentages. Getting started with affiliate marketing is pretty easy as most firms do have this on offer and you could take advantage of it and build passive income in Nigeria.

Here are the top 10 affiliate programs in Nigeria which you can join, promote offers and start earning some bucks.

4.   Build an Online Course

With proficiency in any field, you could teach the rudiments of such field and get paid for doing so. A good place to start is Udemy, there are more options but Udemy is well known with good reputation.

Teachable and Kajabi are also great to launch your online course and start making money from the successive sales.

5.   Freelancing

Freelancing give you the time to do your active job and you’re not tied by contract to any firm. As a freelancer, you can provide solutions to various problems, get paid and your income keeps coming in.

I earn mostly from Fiverr and I’ve also earned from few freelancing platforms. You can also start your freelancing career today if you got any skills that can be rendered and delivered digitally.

PS: Read this guide on how to start a freelancing business in Nigeria

Here are the top 10 freelancing websites in Nigeria that pay well for freelancers. Check them out before you choose to join any.

6.   Start a YouTube Channel (Vlogging)

A lot of Nigerians such as comedians, musicians, reviewers and other content creators make money constantly via YouTube. They’re making good money daily and you can join the train.

If you find yourself proficient in a certain field, having a channel that explores the nitty-gritties of such field would be a good way to build passive income in Nigeria.

This is one sure fire way to build passive income, what even more unique is the market isn’t saturated with vloggers. You can take advantage and start your vlogging journey today

7.   Blogging

Another way you can build passive income in Nigeria is through blogging. Few years back, owning and managing a blog was quite difficult and required lots of human and technical efforts. With the continuous growth in technology, the process have been simplified, you can even run and manage blog on a smartphone or tablet – even though I don’t support it.

There are numerous ways to earn money online by blogging in Nigeria, these includes selling Ads spaces, Google Adsense, affiliate marketing, sponsored posts and so on.

If you want to start blogging, I can coach you on how to make money, create the blog for you and monitor you for 30 days to make sure you’ve understood the blogosphere.

But this is a paid service I render for smart entrepreneur like you. If you’re ready to start your way to blogging like a “Pro”, contact me here and let talk about it.

8.   Article Writing

If you’re good in writing, it could generate passive income for you as you write articles. Perhaps you’re not proficient in English grammar, there online course which could help you out and expand your skills.

I’m a blogger and freelance writer but sometimes, I gets too busy to write a single letter. That’s why I personally hire proficient writers and I pay them per article not per month.

I calculated the money I paid my freelance writers for a month and it’s up to N35,000.

And personally as mentioned, I writes contents for clients. I bill them based on the type of the article ranging from N1,000 – N3,000 per article (for Nigeria clients)

You can also start your writing career by pitching business owners on social media, email and on freelancing websites.

9.   Comedy

The field of comedy, especially skits making do pay these days. You can take some inspiration from the popular skits producers and start one if comedy is your thing.

Broda Shaggi, Omo Ibadan, Lasisi Elenu and so on are frontier comedians making money from Instagram, YouTube, Paid partnership and other deals.

You can also do stand-up comedy like that of AY, Basketmouth and so on, it pays too.

10.               Graphic Design

It’s seen a primary source of income for most Nigerians, but it could also serve as a means of building passive income in Nigeria with sites like fiverr etc. online or offline.

You can brand your image and start looking for people interest in logo, fliers, book cover and so on

11.               Buying and Selling domain in Nigeria (Domain Flipping)

Another great way you can build passive income is through the purchase and sale of domains. It’s pretty easy to do this, you get domains from those willing to sell theirs and resell for a higher price.

It’s called domain flipping because it involves flipping of domain you’re not going to use for money.

Flippa.com is the popular sites in the world to make profit from domain and website reselling.

12.               Software Development

We’re currently living in a world where a lot of things are getting digitalized, mobile apps makes it easier to access things you’d find on most sites – it’s compact and user friendly.

With this revelation, the market for software development – especially for smartphone is quite high. You could also work independently and create apps.

Again, freelancing sites like Fiverr can help you get started.

13.               Email Marketing

It’s a form a digital marketing that entails sending lots of marketing based emails to several persons. You’d need a huge contact base to succeed in this field.

Wait, I’m not telling you to start sending random emails to people.

The aim of Email marketing is to “sell”.

Now ask yourself; what am I going to sell to the people with these email addresses?

If you don’t have anything to sell or promote, you can offer these service for money. There are lots of start-ups or business owners who need to promote their stuffs, you can be hire if you approached them well.

14.               Copy Writing

It’s another form of writing you can use for building passive income in Nigeria, there lots of places paying for this. It doesn’t require lot of technicalities to begin earning through this means.

Just as email marketing, the main intention of copywriting is to “sell”. Before you jump into this, you need to be a proficient and persuasive writer.

Business owners may hire you to write for their product or service.

15.               Tutorials

Tutorials especially online is one good way to make some good money for yourself and in the process, build passive income in Nigeria. Many people outside there these days are leveraging the internet to learn almost about anything that could be of great help for them.

Having good knowledge of a thing and giving tutorials increases your earning potential.

You can offer classroom tutorial where you’ll teach people face-to-face about what you know and can be of great benefit for them.

You can also sell ebooks.

16.               Photography

Photography is another way you can get to build passive income in the country. Asides the conventional style of photography, you could also sell your photos on various platforms which are available online.

Personally, I make few bucks from photography because I have small camera and printer here. I snap people who call for a quick shot and I will print it out for them. I also earn from wait-and-get passport as it is more expensive than normal photograph.

You can buy a small camera and printer of N150,000 or second of N100,000 and start doing the business in your school or environment.

17.               Real Estate Investment

Investing in real estate is one of the best ways to build passive income in Nigeria. Take the current American president for example, aside his salary he makes good income via real estate. It’s one of the best ways of earning these days.

I don’t want to bore you with stuffs about real estate investment but I got a nice tutorial on how you can make money from real estate investment in Nigeria – read here.

18.               Stock Exchange

The stock exchange market is one that pays a lot, it’s a market where trillions are made daily, this trillions are distributed among the traders.

Investing in a company’s stock is a good way of building passive income in Nigeria, but it’s important to scrutinize the firm before investing.

19.               Music

No doubt the entertainment industry in Nigeria is one of the most functional industry currently. Music in the country does pay, especially if you can produce cool songs that keep people glued to their earphones.

There’s more than enough genres you can choose from, so you’re not stuck on a particular style and that’s the beauty of music – its dynamism.

Davido, Wizkid and others started from somewhere and you too can.

Read this guide on how to make money as an upcoming artists in Nigeria

PPS: Here is how you can promote your music and build your fame in Nigeria

20.               Radio/Television Jingles

If you happen to have a good voice, then you can earn some money via radio and tv jingles.

It’s pretty easy, just saying some words about a product or service and you’re paid for it, how cool!

DJs, Radio stations, TV company and some business owners hire these type of people

21.               Audiobook Sale

The world have grown a lot in terms of technology in the 21st century, books have grown from paper formats – which is traditional and wildly used, to e-books – which is beginning to gain attention, to audiobooks.

Audiobook format are getting a lot of attraction from persons of various field who will like to read while doing other activities and making a book in such format is one way to build passive income in Nigeria.

N.B. Not all books are suited for this format, especially books with graphical representation and pictorial illustrations.

22.               Disk Jockey (Dj)

With events happening every weekend services of a disk jockey are always needed. You could use the weekend to rack up some extra bucks.

There are lots of radio presenters who do this during the weekend or on days they’re off work, you could learn, get a laptop and start your journey.

This also one of the best business ideas for students in Nigeria

23.               Master Of Ceremony (MC)

Still on events, every event will always require the services of an M.C. and what better way to build passive income in Nigeria than conducting events and getting paid for it.

Becoming an M.C. will require self-confidence which you can build if you don’t have one and public speaking skills which you could also learn easily.

It’s an added advantage if you know how to make people laughs.

24.               Cryptocurrency Trading

It’s quite similar to stock trading in terms of structure. Dealing on cryptocurrency is good way to make an extra income asides your daily job. It does require a bit of technical acuity and you’ll start making money.

PS: Here is how you can make money with cryptocurrency in Nigeria

PPS: You can sell your bitcoin or any coins to these trusted cryptocurrency exchanger website in Nigeria

25.               Human Resources

People who are into HR consulting in Nigeria makes money once they started with the right orientation.

Human resources simply involves recruiting and training people who are job seekers. After training and might have selected the best from them, you will then recommend them alongside with their CVs for companies who need such skilful or experience employees.

You’re going to be paid certain amount of money every month on each employee taken out by any employer from your HRO Company.

But you need to professionally start this business if you want people (both prospective employers and job seekers) to trust you.

With this business, you can profitably build a passive income in Nigeria. But how do you start?

No worry! I got a detailed article here that will teach you the best ways to start HR Outsourcing Business in Nigeria

…. and over to you

So wrapping up, you’ve seen 25 ways to build passive income in Nigeria. There are more ideas but the ones above are ideal. 

Which are you into currently and which would you like to venture into? Let me know in the comments!

Please don’t forget to share this article with your friends and subscribe to the newsletter here..

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 👌

Business

How to Dress Like a Smart Entrepreneur in Nigeria

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To really show your clients that you are worth investing in, you must learn perfect grooming tips to woo them. I mean, you must learn how to dress like a smart entrepreneur in Nigeria.

Many entrepreneurs meet different clients on different occasions, most of us (the entrepreneurs) are chairing boards of directors, firms, agencies, conglomerated companies, individuals, and government bodies with the aim of achieving the best for the respective companies or organizations they are representing.

The major reason why you need to dress corporately is not just to be attractive or show how extravagant you but you need to dress the way you wanted to be addressed, your business skills or intelligence are not enough!

In business both offline and online branding, you need to understand how to meet-up and simplify your corporate or business dressing etiquette. To be sincere, dressing etiquette and sense should be one of the key factors that all people aspiring to be successful and smart entrepreneurs should have.

Good to know that most business organizations like the banks, hospitals, and other agencies have their own dressing code. For example, the government here in Nigeria allows their workers (otherwise known as civil servants) to wear their native attires only on Fridays.

While institutions like banks, hospitals always are expected to put on their corporate suit and polished pair of shoes while most self-employed dress the way they like or feel.

But, the world of dressing and grooming is entirely different for entrepreneurs, no matter the source of your job and its dressing code. Here in this article, I am going to work you through some tips on how to dress like a smart and successful entrepreneur.

8 Perfect Dressing Tips For Smart Entrepreneurs in Nigeria

  1. Take Your Dressing As An Investment

Before going to your office or to boutique for shopping, you must buy classic and corporate styles that suit your body shape, size, and complexion. Don’t think because your friends are wearing Gucci, Versace, Fila or Nike, you must wear them also.

You need to dress to fit your business not the latest trends in the town. Do take enough time to pick out of many and never wear body-revealing clothes (Mostly women).

Some clients hate this while some want this but as a corporate entrepreneur, you must not wear seducing clothes or have such intention to negotiate with clients with your dressing but rather, seduce them with your business Skills and Intelligence!

2. Change Your Wardrobe Constantly:

Although I won’t advise you to take all your savings to buy clothes that suit your business and body. But, it will be good if you shop for new dresses at least once (or as much as possible) in a month. You should tell your regular clients, prospects, or business partners that you are happy and successful in your chosen career and one of the best ways to do this is through your dressing.

Don’t look retarded, tactless, or awful in appearance. Change all old clothes to New One. If you don’t know how to shop for clothes that fit you and your business, ask those who are professionals in fashion.

3. Build Good Body Shape

If your body shape is not good enough, you must try the right and safe remedy to build it up. Doing an exercise or going to the gym regularly will give you perfect body shape. The reason for this is that, no matter how fabulous you dress without having good body shape, such grooming efforts won’t go beyond your room.

You may look stupid to some people and this may cause depression or frustration if you find out what people or your business partners are saying behind you.

4. Keep Your Make-up Simple:

This concerns the women who like using cosmetics in an excessive way. Let go of make-up products that are too flashy but instead choose the one that will show entrepreneurship and serious in you. Remember you are dressing for a business not for partying and you must not annoy your clients or allow them to take you for granted because of the way you dress.

If your make-up is faulty, there is a possibility that you will face some faults with clients and business partners. If you can’t perfectly do good and nice makeup for yourself, I will advise you to consult a make-up artist for help.

5. Do Like A Roman When You Are In Rome:

I mean, you should understand how to dress for each business occasion. You can’t be working in a bank or hospital and be wearing jean and canvass to office, you cannot be going to farming to make the heaps or ridges and put on a suit.

You can’t be a military man and be wearing “mufty” to station or barrack (although, you may wear the police vest or any designated dresses by the military officials). You must select clothes according to the nature of your business or profession.

6. Understand The Atmospheric Condition:

Always, dress according to the weather condition. If it’s during the rainy season, wear clothes that will protect your formal dressing from being immersed by rain like a coat, jacket, etc.

Go for clothing materials that are reflective of the season. Clothes that are thick are good for fall and winter and it’s not advisable for summer but instead, Light linen fabric or clothing materials will be good for it (summer).

7. Avoid “Color Riot”:

This is a “must” for all entrepreneurs who want to dress up well and gaily as a successful and smart entrepreneur. For business and corporate sake, it will be perfect if your coat, tie, shoes, handbag, shirt, skirt, trousers, belts, and other things you will put on Match each other.

For women, a black handbag should be matched with a black shoe. For men, a blue coat should match with blue trousers and so on. If you do this in the right proportion, this will show your creativity, intelligence, and how much more you can take care of things perfectly.

8. Wear Quality Dresses:

As I have said earlier, you don’t need to put yourself into debt before you dress like a smart entrepreneur and that’s why I suggested that you should buy Clothes for at least once in a month or more depending on your salary or income.

But, make sure that the “one” you will be buying will be a quality “one” not fake. Most clients will study everything you put on before they can give their project or contract to you.

You remember the adage that says “Dress as you Want to Be Regarded” So, wear quality materials if you want your clients and business partners to take you so important.

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Business

How to Create an Online Store in Nigeria: Guide to Launch Your Own Shopping Site

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Do you want to create an affordable and profitable online store in Nigeria but don’t know how to get started with it? In this blog post, I will show you the easy way to launch your dream eCommerce website using a flexible CMS platform and reliable web hosting.

Oh…  are you thinking right now that what is CMS and web hosting? Well, I will explain that to you as well. 

But why create your own online store in the country?

In the last decade, the world has witnessed quite some changes in some of the ways people do things. One such change has been in terms of commerce. Before now, we had the physical stores with inventory scattered around, that we choose to shop from, today we have online stores all around the internet and they’re slowly taking over.

Recommended: Top Online Shopping Sites in Nigeria

Here’s a solid reason you need to launch your own store now;

Research done in 2017 has it that; “55 percent of commercial activities are carried out online worldwide”. In Nigeria, we’re all getting awakened to the idea of online shopping, and it’s expected to be a big industry in a few years to come.

With all these in mind, what stops you from owning your online store? Well, maybe you think that ‘to create or set up a profitable eCommerce website will cost you a fortune’, but that’s not true!

I’ll be showing you how to create an online store in Nigeria using some pretty cool platforms and tools, which are absolutely affordable – at least you don’t need to spend a million naira ($3,000) before you can get your own dream online shop!

Now, let start;

How to Create a Profitable Online Store in Nigeria – Complete Guide

Before heading to these platforms, you need to have certain things in place, in order to maximize your level of profitability in the e-commerce world. These are simple, yet often taken for granted, but they go a long way in growing your brand. 

To build a profitable online store in Nigeria, you should follow the following steps;

1. Define Your Niché

There’s no need to start diversifying, you’re probably on lean resources at the moment, and you’re pretty not sure if this business is going to be a success, you only hope it does.

Focusing on a Niché helps in channeling your resources on that Niché. This you should do because you’re starting up, you shouldn’t diversify because the top guns are doing it. You’re not yet at their level, as your business grows, you could make plans for expansion.

I mean, you shouldn’t copy the likes of Amazon, Aliexpress, or Jumia (for now). Start with one product and try to dominate that niche to an extent, then you can think of leveraging other products.

When choosing, make sure it’s viable, and products in such a field are in great demand. In an eCommerce business, your niche doesn’t necessarily have to be something you’re passionate about, you could learn the ropes of such a niche as you forge ahead.

2. Choose your form of inventory

Many e-commerce firms today have inventories in various places, but let me tell you an easy way – Dropshipping!

You’re going into this business to maximize as much profit as possible, both forms of inventory have their pros and cons. Although you get to pay certain fees for hosting and more online, they are less expensive than having a physical inventory.

If you’re a fashion designer, you can sell your clothes in your online store in Nigeria and make more money by dropshipping related products. This same method applies to those who sell Smartphones, computer gadgets, and their accessories etcetera.

To learn more about how dropshipping works in Nigeria, check this guide

Now. let’s talk about the next step.

3. Get a Brand Name

Another important step to abide by here is picking a brand name. Now, don’t just go about choosing any name, you wouldn’t want a situation where you’ll have to change your name often, it devalues your brand. Your name should be well thought out, it should also serve as your domain name and your social media usernames when you finally launch online.

A piece of advice on brand name choosing: Endeavor to choose an English word or phrase if you want to see real success. Not everyone will be able to write or pronounce your native name or phrase correctly, and this is bad for marketing. 

Since English is the official business language in Nigeria (offline and online), I think you should have this in mind. The key here is to use simple words or phrases that’ll be easier to recommend to someone from another region of the country. Additionally, you could integrate a native word with English to make it much better.

You may decide to register the unique brand name with the government, in order to avoid anybody using it. Click here to learn how to register a business name in Nigeria

Just make sure you get a unique and brandable business name! Now, let go into the practical steps in creating your (profitable) online store in Nigeria.

4. Choose a Good CMS Platform, then build

There are many CMS platforms available to help you create your online store in Nigeria. The word “build” might sound stressful but not to worry, it’s a simple process. 

Quick Tip: CMS means “Content Management System” – You can read this Wikipedia article to know more about it

Although, the level of simplicity varies depending on what platform you choose. In fact, some platforms are automated; you only have to make a few clicks on your PC. Some other platforms let you use your already existing site, you just have to install a few plugins and you’re done.

There are quite a lot of platforms to build eCommerce websites, but I recommend using either Woocommerce or  Magento. Because they’re both;

  • Affordable
  • Flexible to use even, if you’re a beginner
  • Very friendly and reliable
  • You take control of your stuff and many beautiful reasons.

Let me talk about these two amazing CMS platforms and how you can set up your dream online store in Nigeria with them;

How to Create an Online Store with Woocommerce (WordPress) in Nigeria

Woocommerce is one of the most used platforms for e-commerce, they have a huge percentage of users in the e-commerce world. This is due to WordPress dominance on the internet – over 30% of websites are powered by WordPress. 

This is why Woocommerce tends to be a much popular choice. There are other reasons why Woocommerce remains at the top. It’s pretty easy to set up, it’s open-source which makes it easier for customization, SEO friendly, and it’s totally free – you only get to pay for other external features. 

Setting Up An Online Store with Woocommerce

It’s very easy to build an online store with Woocommerce, with your WordPress site, you’re good to go. Here are the steps to take.

  • Buy a Domain Name and Web Hosting

A domain name is an identification string that makes you unique on the web. 

I will not feed you with technical jargons, a domain name is like the house address that people can use to locate you easily. For example, Gbolamedia.com is a registered domain name.

To create a successful online store, you need to buy one! After the domain name, you need to buy web hosting as well.

Web hosting allows you to make your online store accessible via the World Wide Web. A web hosting stores your website files (the text, images, and anything you upload to your store). It is like your house where you can have your possessions stored.

There are a lot of web hosting companies out there, but I recommend buying from  LiquidWeb.

Why Liquidweb of all web hosting companies?

Liquid Web is a very effective and reliable web hosting provider that offers the best hosting services to consumers of various kinds. With Liquid Web, you get up to 99.9% server uptime, next-generation dedicated servers, and much more. 

The web hosting company is suitable for various professions, from freelancing to agencies, and businesses of every kind.

They’ve also got great customer support on various channels, with less than minute response time. These and many more you get to enjoy when you choose from any of their hosting plans below;

Here’s a deal: 

  • Use this Coupon Code >> GETONLINE to get 25% off, on 3 months Managed Woocommerce or WordPress Hosting.

  • or use SAVEBIG to get 50% when you buy a Dedicated or VPS Servers

  • Click here to Buy your web hosting now – the link will open in a new tab so that you can navigate back here.

After buying your domain and hosting, it’s time to build your site.

  • Install WordPress, then, Woocommerce plugin

After buying your domain and web hosting, you’ll be given a Cpanel. From your Cpanel (Control Panel), Install WordPress app.

Note: You can always ask for help from the Liquid web Customer care, they’re ready to assist you.

After installing the WordPress from the Cpanel, Login to your WordPress admin dashboard;

>> Then go to Plugin 

>> Click on “Add New” and search for Woocommerce

>> Finally Install and activate the Woocommerce plugin

The Woocommerce plugin was designed specifically for e-commerce, it tweaks your site to make it great for an online store you’re dreaming to launch. It’s mobile-friendly since most people access these platforms via their mobile. 

After installing Woocommerce, with just a few clicks, some sections of your site will be automatically created. These sections are pretty much mandatory on all e-commerce platforms; sections like Cart, Checkout, Store, My account, etc. You could further customize these, add other sections, and personalize your store.

The next step is to design your online store beautifully! 

  • Install and Custom a Good WordPress Themes

Remember I said “Domain name is your Address” while a “Web hosting is your house”? Don’t you think it will be cool to paint the house beautifully and do some decorations to make it stand out?

You think so? Great, this is why we need a “theme” to beautify your online store.

You can get a lot of free WordPress themes, as WordPress offers lots of themes for beautifying your site, you could choose from the wide variety of available themes – but be sure to use e-commerce friendly themes.

To get a free WordPress theme, follow the steps below;

>> Login to your WordPress dashboard

>> Click on “Appearance”, then “Theme”

>> Click on “Add New”, then search for “StoreFront”

>> Click on Install and finally Activate.

Note: I recommend StoreFront because it is the best free WordPress theme for Woocommerce.

But dear, I recommend buying your own theme! 

Premium themes are so blessed, you will have access to some features that you can’t get on the free themes and you will get premium support from the theme developer.

To buy a theme, go to Themeforest and search for any WordPress theme of your choice.

Quick Tip: If you are going to sell clothes, search for “Fashion eCommerce WordPress Theme”. If you want to sell Computer gadgets, search for “Computer eCommerce WordPress Theme” and so on.

After buying your theme (here), download it and upload it by following the steps you explained if you want to use a free theme. The only difference is that you will “UPLOAD” instead of searching for the theme in your WordPress admin dashboard.

  • Add Your Products + Details:

The next thing is to add your products. Click on “Products” in your WordPress Admin dashboard and flow with self-explanatory onboard screens. Then finally Publish and do this for all the products you will like to upload to your site.

If you need any help, kindly ask me in the comment box below.

  • Finally, we’re done! 

You’ve successfully created a Woocommerce powered and lucrative online store in Nigeria. It’s now time to start adding products to your store.

Okay, let talk about Magento;

About Magento

Magento is another wonderful platform for e-commerce, more and more users are getting to use this platform. It’s pretty new to the business and still has its quirks. Although released initially in 2008, it finally got a stable release early this year, and it’s still undergoing changes which we would see in the future. It’s a good platform for starting out your e-commerce business.

Setting Up An Online Store in Nigeria with Magento

Unlike Woocommerce, you would spend much time and effort in setting up your store, it is more like a manual process.

Note: We will not be talking about all the steps here, as we have discussed in the process of setting up a Woocommerce store. But notwithstanding, I’ll brief each step;

  • Using Liquidweb as our hosting provider for Magento, choose a suitable domain name. I noted some points you should pay attention to when choosing your brand name – this could also serve as your domain name.
  • Install Magento. It’s pretty easy if you follow the prompts, and select the suitable options. Since it’s open-source, you get to customize every single aspect to your taste
  • Styling: Like WordPress, Magento also offers a good number of themes for a much better looking online store. Pick from the available themes and customize your site. You can as well buy premium themes from ThemeForest
  • Add Products: It’s time to start selling, adding product images and description is pretty much easy and shouldn’t break a sweat.

That’s all about setting up a lucrative online store in Nigeria using WordPress or Magento. But that’s not the end, let me tell you a few things you need to do to make your store fetch you pretty income (or profits).

5. Marketing Your New Store

Marketing is the soul of any business. You are supposed to start marketing a little bit earlier before your store fully goes live. You’ve got to let people know what you’re up to, the products you offer, and many more about your brand. 

Marketing has been simplified these days, social media is one huge marketing platform you should take advantage of as the top brands use this to publicize their products. You’ll be saving some money while doing this, you could start paying for a much bigger audience as you grow your store.

Set up an Instagram account and Facebook page with your business name, connect them together (Google search for how to connect Facebook page and Instagram account), and finally, start promoting your products on social media platforms.

Conclusion – Creating an Online Store in Nigeria

These are pretty much what you need for a profitable online store in Nigeria. Setting up an eCommerce store in Nigeria is pretty much an easy task, it’s even much better if you fully utilize the platforms shared above. 

If you’re already using these platforms or will like to ask a few questions, kindly “CLICK TO COMMENT” and I’ll be happy to hear from you.

You can share this blog post with your friends if you find it helpful. But don’t forget to subscribe to my mailing list in order to receive free updates like this.

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How to Write a Perfect Business Plan in Nigeria (And a FREE Template)

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Writing a perfect business plan in Nigeria shouldn’t be a difficult task, let talk about this!

Are you starting a new business in Nigeria and you don’t want to fail? Then writing a good business plan should be considered the second great deal after your initial idea before you put in your capital.

In today’s business world, one of the great ingredients for a successful business is proper documentation, one of such documents is your Business Plan; which is why I’ll be showing you how to write a perfect business plan in Nigeria.

Well, not as perfect as an angel. But, I’m sure this blog post will really help you understand the simple secret behind writing a good business plan.

But we need to understand some basic concepts in order to fully understand the proper crafting of a business plan. In business schools, we’ve got different definitions of what a business plan is.

What is a Business Plan?

Basically; a business plan is a comprehensive, yet concise description of a business entity, be it a startup firm or well-known cooperation.

It’s a document that describes several areas of your business as an entrepreneur, these include; financial, executive, operational, marketing, and goals of your business. A business plan may serve one or all of the following purposes, which is; 

  • To present current and potential investors what your business entails in a bid to make them invest, or;
  • To serve as a guide for the company – leading you from where you are present to where you wish to be in the future.

But often, business proposals and business plans are oftentimes, used interchangeably, while in essence, they differ to some extent. So, what are the differences between them?

Difference between Business Plan and Business Proposal

A business proposal is a document showing potential investors your business idea and how you tend to execute such an idea and how viable it is, all these are done with the aim of getting support from investors and clients. You don’t need to have a business up and running before drafting a proposal, just an idea is enough.

Business proposals are for a specified set of audience.

ALSO READ: How to Write a Good Business Proposal 

A good business plan in Nigeria as earlier stated serves as a document to guide a firm into its future or to seek investment from investors. You need to have a business up and running before you could write a business plan.

A business plan is meant for a much wider spectrum of people.

Importance of a Business Plan in Nigeria

Few advantages of crafting a good business plan in Nigeria include;

  • A Business Plan Makes It Easier to Make Future Prediction 

With a well-defined business plan, it’s much easier to predict the future of your business. When you’ve got a clear goal of where you are going, it becomes much easier to plan towards it.

  • It Gives You Better Understanding of Your Market

When crafting a business plan, you get to do quite a lot of research work which would include your target market. Doing this will give an insight into the market, something you probably didn’t have before.

  • You will Know the Business Pros and Cons

As you outline your plans, your strong points become more obvious to you, and that’s what you should focus on moving forward. You’d also see your flaws, with this knowledge, you can work on improving on them – turning them into strong points.

  • Business Plan Improves Decision Making

Irrespective of who your business plan is targeted at, you still get to keep a copy. This informs your decision, leading you to make better choices. If ever you lose track – which is quite certain, you could get right back with the knowledge of your intended plan.

There are many more advantages of why you should have a good business plan in Nigeria, these are just some of the more prominent ones. Therefore, it’s important you take time to carefully craft a business plan, which leads us to the next phase.

Things to Note Before Writing your Business Plan

Before you go-ahead to start writing that business plan, take note of these three points; 

  • Know your Audience: Who would be reading your business plan? Are they well versed in your field of expertise? probably not. This lets you choose your words so as to accommodate almost everyone, you can leave out the technical jargon because not everyone is acquainted with your field. The aim is to use simple grammar while writing, this makes it easier for any investor to comprehend what you’re up to. 
  • Not Too Long, Not Too Short: This is a really sketchy one, but you don’t want to tire out investors. Too long, it seems discouraging to read and most probably won’t be. Too short, you’re seen as not committed to the business. This is what you need to do; your entire document should be between 15 to 25 pages with a very legible font.
  • You don’t have to be an Expert to get started: Many entrepreneurs feel reluctant to start writing a business plan, with the mindset of being an expert with good writing skills to start writing their business plan. There are lots of platforms that could help you create a really good business plan in Nigeria. You could also research available templates to make it a lot easier.

To have a more personalized business plan, you need to craft it yourself, which leads us to the meat of the article.

Proper Structure to Write a Perfect Business Plan in Nigeria

If you want to capture the hearts of your future investors, and probably something to keep you from going on track, then you need this structure in place, in the following order;

N.B. Remember to use legible font while writing, proper paragraphing should be employed and also ensure to use infographics where possible.

  • EXECUTIVE SUMMARY

This is the first part of your business plan, it’s the summary of all other sections of your plans, and as such, it should be concise – not giving off too many details. A good executive summary will determine if the rest of the business plan will be read, especially by a potential investor. 

If this part of your document is nicely written, stating all the relevant information, a client may not need to read the whole plan because you’ve already conveyed the whole message. 

When writing a business plan in Nigeria, you should see this part of the document as your major selling point, so you need to get it right. 

A perfect executive summary should summarize the following; 

  • Value proposition
  • Problem(s) you wish to solve
  • Solution(s) you’re offering
  • Your target market, your competition
  • Overview of your business team
  • Means of funding and milestones reached. 

All these shouldn’t be more than two pages of your document, with you stating the most relevant points, facts, and figures of each.

  • PROBLEM & SOLUTION

As an entrepreneur, your business will definitely be solving a problem, directly or indirectly. You should know what the problem is, making this the second part of your document. If your company isn’t solving any direct or indirect problem, then its relevance is questionable. 

You’ve got problems to solve, how do you go about solving them? 

This is where you’ve got to show your ideas’ credibility. Certainly, you’re not the only one solving the stated problem, there are probably other small business owners like yours, who’re providing similar products or services. 

You’ve got to give reasons why your products and services outperform your rivals, how you intend to make it much better and easier, this is what investors care to know about. Offering a much more efficient product or service which tackles the challenges stated opens the door of investments.

ALSO READ: Top 10 Business Investors in Nigeria

  • TARGET MARKET

Another strong point that would make your business plan stand out is by identifying and targeting a section of the market. Gone are the days of making products or offering services with no intended market, it is critical to the success of any business in the current world.

Take, for instance, you’re into clothes manufacturing, you need to have a specific gender in focus, a specific age group, and probably, people with similar style tastes. In doing this, you’ve got a good chance of succeeding in your field as you already know who you’re targeting, this will surely make investors sign those deals.

  • COMPETITION

If you take a vivid look at the business world we have today, it is obvious that most business entities have direct alternatives, they may be one or more than one alternatives to your business, a perfect example is the Nigerian telecom sector. While this is good for the customers, as they’ve got varieties to pick from in case one option sucks, it’s a challenge you must face as a business entity.

RELATED: How to Start a Recharge Card Printing Business in Nigeria

What you should note therefore in your document are; what your target market entails, what your counterparts are doing currently, and how do you wish to improve on it. Remember, you need to offer better products or services than your competition, or offer these products/services in a much better way.

  • EXECUTION PLAN

After you must have written all the above sections, you then need to come up with an execution plan. Whatever will be written here has to be feasible, without knowing how to go about executing, your plan will remain just a mere plan without life. This is where your plan gets into action.

Execution” in business plan entails how you tend to market your products/services and your brand, and the mediums required to do so. There’s also a need to structure your pricing policy in relation to the current market.

You don’t necessarily need to give out the actual figures, but you could suggest pricing patterns – the same price as the market, or higher/lesser than the actual market figure. When writing your business plan in Nigeria, it’s important you’ve got steps to execute it, investors don’t invest in oral contents – they invest in the actual content. 

  • PUBLICITY

Publicity is one good point to note when writing a perfect business plan in Nigeria. Truth be told, no one is going to come to look for you if you don’t exist. If you’re just an entrepreneur starting out, then you need to make people know you exist.

Your branding, PR, and advertising all come under this part of your business plan. You’re competing against similar brands and you need publicity to grow your business beyond its current level.

  • TEAM & COMPANY OVERVIEW

Now your business plans have been stated out, revealing all the bits and pieces, and how to execute, but who will execute? Your team of experts is the people responsible for bringing this plan to life. You need to have a competent team, who should be able to carry out this plan and you have to include this in your document. 

You don’t need to highlight the titles of the personnel involved here, an apt description of their level of proficiency in their respective field will be enough.

In your team and company overview, you’d have to include the following to give more insights about the plan; 

  • Your intellectual property, 
  • Your mission statement
  • Business structure
  • Business history 
  • Location 
  • Your financial plan 
  • Personnel plan and your profit/loss profile. 

Now, Your FREE Business Plan Template

As you see in the title of this blog post, I promise to give a free business plan template, and here it is. Please enter your best email address and name in the contact form here and write in the message ox that “I need the business plan template“. Click on “SUBMIT” and the template will be sent to you.

CONCLUSION – Writing a Perfect Business Plan in Nigeria

Writing a good business plan could be an arduous task, but with proper research and commitment, you could craft a perfect business plan among your competitors in Nigeria. You don’t want to rush things, take it a step at a time.

If you need a good business plan writer in Nigeria, you can contact me here or use the free template to craft your own plan.

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