The Top Lucrative Online Business You Can Start In 2020

When it comes to online businesses, one thing you don't want to do is going on google to search "how to make money online" and this is because most results are meant to either path away with your money of your time.

In fact, that isn't the right question you should be asking.

The question you should be asking is, "what online business is right for me" because your area of strength is different from every other person.

If you want to succeed, you must go into online businesses that plays to your true strengths because that's the online way you can be committed and consistent with what you do.

You see, contrary to what you might have been told or heard, every business requires hard work. Either it be an offline business or an online business.The only person responsible for the success of your business is YOU.

Not some secrets or methods or guru.You are the common denominator and the person who can be held responsible for your successes or failures.I have been doing this long enough so I know. 

Listen, if you follow this mindset and these instructions, then you absolutely will succeed, no matter what you've tried before now that didn’t succeed, no matter how many times you've failed before or how discouraged you are currently.

This rule is almost absolute.

The secret is…Massive, relentless energy put into ONE single focus for a long period of time.

That's it.

Almost NO ONE does this. Not even close.

People try something for two weeks, then give up and move onto the next shiny thing.

Others try something for three months, then give up.

Two weeks or three months, is still not enough.

Most people think you can make money online by running some process like it's a regular job - set up this, do this, do that, and boom you're making money. It doesn't work like that.

However, you can make $100k/year, or =N=1 million/month in pretty much ANYTHING - making videos, doing a podcast, creating information products, ecommerce, affiliate marketing in any niche, consulting, anything.

The way to succeed is to pick ONE thing, and focus hard on it for a full year of your life.

Put all your energy into it and don't make your goal to make money, make your goal to be the best at this thing. The money will follow.

That is what I did. That is what every person who is a real success at this has done. It's near impossible to fail if you do this.

So, if you’re looking for ways to make millions in 2 days or you’re in the MMM group, then I am afraid, this isn’t for you and I am very certain this won’t work for you.

There are a whole lot of such schemes being peddled on the internet and good luck with them by the way.Still here? Then you must be up for the ride. But first let me tell you a story.

In 2012 during my 300L in Delta State University, I had a room-mate who was also interested in the whole online business thing. He will go out and come back with a discovery of a new online business.

But I wouldn’t pay so much attention.And then it was one cold evening when I heard him calling my name from the door. Joe, this will blow your mind away. And I was like what is it again?Designing book covers on fiverr.

Prior to that day, I had heard of fiverr and even tried providing SEO and traffic generation services but had to quit because I was receiving so much negative reviews lol.The following year (2013), I came across a course on how to design book covers and offer the service on fiverr. The course was selling for N10,000 and at that time, that was exactly my pocket money.

I remember being so confident that this would work, so I started consuming the videos in the course and had gone ahead to create an account on fiverr with the name “uniquedesignxx”. Just try googling that name to see what comes up lol.My first 3 months on fiverr, I had made only $80.

Now for most people, it was time to quit because come on, $80 in 3 whole months? Well, that wasn’t me. I kept on it, honing my skills, promoting my gig, anything to make it succeed. I was consistent.And in my 6th month, I had even added logo design and that month, I made over $1000.

From that month, I continued generating funds through fiverr designing book covers and logos. And guess what? My first million naira was made offering services on fiverr.So, why did I share this story?

To keep you in the know ahead of time that you’ll encounter difficulties regardless of the business model you choose to go with. But what will separate you from the unsuccessful ones is consistency, persistency and a mentor (A mentor is someone who has done and gone through what you’re trying to do).This brings me to the first business model you can start online today

  1. Freelancing:

This is basically the act of you offering a service and getting paid for it. This is actually very interesting because you can be here in Nigeria and offer your services to someone in the United States.The good thing about this is that you can start with arbitrage. Which simply means you 

...get clients for a certain job and you find someone with adequate skills to handle the jobs.You can start with arbitrage if you think you have no skills to sell. However, I will advise you to learn a skill. Becoming good at something only requires repetition as they say “repetition is the mother of skill”.Below are a few sites where you can sell your services;-

  • Fiverr.com
  • Upwork.com
  • Freelancer.com
  • SEOclerk.com
  • Iwriter.com

Note: You don’t even need money to start this. All you need is a device with an internet connection and the necessary skill

Below are some skills that are high in demand;

  • Graphic Design
  • Web Design and Development
  • Social Media Marketing
  • SEO 
  • Ecommerce Marketing
  • Copywriting
  • Email Marketing
  • Article Writing
  • Video Animation
  • Voice Over
  • Apps and Software Development

Start-Up Costs: =N=0 – =N=15,000 naira

Skills Needed: Offer creation, follow-up, product delivery, traffic generation, customer support, writing skills, design, upselling, e.t.c.

Time Before Profit: 90 - 180 days (3 – 6 months).

My Recommendation: This business requires a certain amount of SPECIALIZED SKILL, EXPERIENCE and PATIENCE to profit from it, yet the money you will make will be limited by:

  • how many hours a day you can spare
  • how many people you can work for in that time
  • how many job offers you get in that time
  • how many competitors you have offering the same thing as you
  • how much less you’re willing to collect so that they buyer doesn’t abandon you and buy from your lower priced competitor.

I know people who have started with this and who have never made a penny out of it.

I also know people who have started in it and make millions every year. Just like myself.

Here’s a screenshot from one of my fiverr accounts.

You have to be patient, build your contacts, deliver steady superb jobs

every time, retain your clients and you are on song.

PS: I’m no longer actively involved in freelancing because it is time consuming

  1. Ecommerce:

Commerce has been here for long (almost as old as mankind) and the introduction of the internet making it possible to transact online with people regardless of their race or location was the birth of ecommerce.So, ecommerce is basically the selling or exchange happening on the internet. 


So you have a product people need, you simply set up a sales system and get people to find it online via marketing and when they do, they order for it so you get it delivered to them.


In other words, ecommerce is electronic commerce.The history of ecommerce is unthinkable without Amazon and Ebay which were among the first Internet companies to allow electronic transactions. Thanks to their founders we now have a handsome ecommerce sector and enjoy the buying and selling advantages of the Internet.

Currently there are 3 largest and most famous worldwide Internet retailers: Amazon, Ebay and Alibaba.Ecommerce is growing so fast that In 2017 it reached around $2.3 trillion and is expected to hit $4.5 trillion in 2021 (according to a Statista report).

And in Nigeria alone the current eCommerce spending in Nigeria is estimated at $12 billion, and is projected to reach $75 billion in revenues per annum by 2025.

While ecommerce is still growing, there’s no better time to start and dominate your own space. This is a business model where it is possible to have a profit of over 1000% on a single product.

Imagine buying a product for as low as N1,500 and selling it for N15,000.

Starting an ecommerce business might appear complex and cumbersome but with the necessary training and guidance the journey becomes simplified.

To run a successful ecommerce business, here a few keynote;

  1. You must understand your market and calve out a section for yourself before thinking about a product to sell
  2. Don’t be so money focused that you lose sight of building a business (Think long term)
  3. Build a team (From sales to delivery)
  4. Never stop marketing and learning

When I look at the eCommerce marketplace today I see three problems that are widespread and putting most ecommerce entrepreneurs on life support.

1). Importing a product because it looks cool (this one is like a disease lol)

2). They don’t know how to advertise and sell

3. Not Paying attention to numbers

The truth is that if you are making just one of these mistakes your ecommerce business probably won’t be around by this time next year.

That’s why I have created a 3 step formula ecommerce training that shows you everything you wanted to know about ecommerce and were afraid to ask

Here's what you'll discover:

1. How to find a hungry market

2. How to Find and import products for your market

3. How to pass your message to your market and not have to beg them to buy your products

Heck, I’ll even show you the only 3 categories of ecommerce products you should be buying that ensure you quickly sell out.

Start-Up Costs: =N=50,000 or more

Skills Needed: Web Design, Offer Creation, a marketing plan, autoresponder integration, traffic generation, inventory, customer support, upselling, e.t.c. (You’ll see a full list of needed skills further below)

Time Before Profit: 30 – 60 Days (1-2 months)

   3. Information Marketing

I so love this one in the sense that you don’t even have to be an expert at something before selling information.Jonathan has started again you say?

Just relax let me explain

You see, people are constantly searching online for information that either expands their skills or solves a problem. YOU can provide that information in the form of digital information products.

Marketing and selling information products can help you start earning lots of money while helping others in a big way.

And even if you’re no expert at what they are looking for, you can partner with someone who can provide the answer/solution and package it into an information product.

Have you ever purchased an ebook or a video training course online? Those are examples of information products.

For example, you were able to help some of your friends relocate to Canada or get permanent residency in Dubai.

You can document the process and package it in the form of a video series or pdf.

Once you create these informational products, you would then market and sell the products to people who want to know how to relocate to Canada or get a permanent residency in Dubai

With information marketing, you get to make money by selling information created by you!

These days, with everyone looking to the Internet to solve a variety of problems, selling informational products online is one method to satisfy the demand.

And guess what?

It's about to get interesting.

Just keep reading.

What if I told you that, you don't even have to create the information yourself before you can start selling information products online?

You don't have to bother or go through the headaches of researching what people want or spending hours putting together a report or even worrying about how to satisfy customers?

What? Jonathan, are you serious?

Yes! with 100% certainty.

Note: There are the three qualities you need to have for the info publishing business to work for you…

Quality #1 – You like to teach

This doesn’t mean you have to have had formal, professional experience as a teacher, but it does mean that you’re the kind of person who enjoys taking the time to break difficult information down so people who are new to the subject can learn it too.

Quality #2 – You enjoy writing and write well

The info publishing business is about generating words… lots and lots of words – emails, adverts, articles, reports, books, home study course, seminars.

You don’t have to be Shakespeare and you don’t have to write everything you need all at once, but to make the big bucks in info marketing, you’ve got to be on a friendly basis with your word processor.

Even though you can ‘hire’ out part of the writing part of an info product business, you still need to know-how to quickly put together content as at when needed, which many times is often.

Quality #3 – ‘You have or can get access to a body of knowledge that people are willing to pay good money for’

The good news about being an information marketer is you don’t need to be the ultimate expert about the information you sell. You can always partner with another person who has the subject expertise.

The second part of this equation is you need ‘a body of knowledge that other people are willing to pay good money for’.

There are all kinds of info categories where people are willing to spend serious money...and those are the kind of markets you want to go after.

To make the serious big money as an information marketer, then you must sell a lot more than just eBooks. You must sell home study courses, LIVE seminars, coaching programs e.t.c too.

Start-Up Costs: =N=50,000 - =N=100,000 (depending on what skills

you have)

Skills Needed: Tech, marketing, traffic generation, inventory, customer

support, etc.

Time Before Profit: As little as 30 – 90 Days (yes, 1-3 months)

PS: This business model generated me over 30 million Naira in 2019 alone. That’s how lucrative it can be when done right.

      4. Affiliate Marketing

The image you see above is my affiliate earning and this was made possible because of an online platform called EXPERTNAIRE.

Expertnaire is an online platform that allows Experts (those with quality information, knowledge and expertise) to list and sell their products on their marketplace.

And other people who want to make some money can help them sell those products and smile to the bank.

Let me explain better.

I consider myself to be someone who is an expert at creating valuable knowledge products (books, videos, courses etc) Over the years, I have created knowledge products and sold tons of them on different topics.

I have also taught a lot of people how to do the same.

There is no doubt that one of the surest ways to build an online business and make a lot of money is by creating and selling products that share valuable information in formats like ebooks, videos etc.

But the truth is this:

At the end of the day, most people can't create their own high demand knowledge products to sell for various reasons.

E.g. Some just don't get it regardless of how easy I try to make it.

Some just don't have the time because of their job and other life issues.  Some just have other unexplainable reasons.

This is not only in Nigeria.

It happens to people all over the world.

So, someone (I actually don't know who started this but that person must be one brilliant son or daughter of a mother) came up with this concept where you can sell another person's product online and get a part of the commission.

In many cases, you can even use the same marketing materials that person created to sell the product and get paid (how interesting).

That is how the Clickbank marketplace was launched back in the day.

On Clickbank, there are 2 groups of people.

The first group are known as merchants.

These are people who are able to create high value products (digital) and list them on the Clickbank marketplace along with the marketing material to sell them.

The second group are the affiliates who simply sign up on Clickbank and what they do is to pick any product from the Clickbank marketplace.

For each product, there is something called an affiliate link attached to it.

It usually looks like this: https://merchantwebsite.com/affiliatecode

All the affiliate has to do is to find people who are most likely going to be interested in that product and recommend the product to them through his affiliate link so that they can buy through the link.

So let's say a merchant lists a product about "dog training" and let's say the product sells for $40.

The merchant can now set an affiliate commission for the product. Let's say 50% which is most common.

What this means is - if an affiliate makes a sale of the product (via his affiliate link), he gets paid 50% of that $40 which is $20.

Are you following me here?

Good.

Unfortunately, Clickbank blocked out Nigerians probably because we are known around the world as potential fraudsters.

Whatever was the reason, many Nigerians still find a way to register on Clickbank though but most of them (about 99.9%) don't make any money because they don't know how to market and because they are competing with other well trained and experienced affiliates from all over the world.

I actually told you all this long story to help you understand the concept of selling other people's digital products.

So, Let's Go Back to Expertnaire.

On Expertnaire, Nigerians with quality knowledge based digital products can list them - along with marketing materials that makes selling them easier for affiliates.

Then affiliates can sign up to the Expertnaire platform, pick one or more products to market and use the affiliate links of each product to market them.

When someone buys the product via the affiliates’ link, the affiliate will get a commission for that product.

Now that you understand how this works, let me explain how you can become an affiliate of Expertnaire.com

Go to https://expertnaire.com/manager/affiliate/6017266089

Fill the form and click Register (you should read the terms and conditions too though)

Once you click REGISTER, the system will show you a popup notification informing you that the fee for becoming an affiliate on Expertnaire is N10,000 a year.

Just click the Yes, Continue button to move on. Or click cancel if you are not willing to pay the fee.

If you follow through with the registration, you will be able to access all the products you can promote.

Let's say you are promoting a mainstream product (a mainstream product is a product that appeals to a mass audience - E.g. Weight loss, making money etc)

Then let's say you have about 2000 people on your FB friends list who are at least 28 years upwards.

Next, let's say you make a post on your FB wall where you are simply recommending an article on the product for others to go and read:

If you have at least 2000 active people on your FB/Instagram/Whatsapp friends list who are between ages 28-45, many of them will read the article, click on the affiliate link there and many will buy immediately.

Just imagine promoting the 10X ecommerce blueprint and for every person who joins the program you get 50% commission (N12,500).

If you can get just 20 persons from your friends list monthly that will be an extra N250,000 for you.

But then, while this can make you some money fast, it is not a business strategy that can be ongoing.

And usually, the money you make from here might not really be much because it is all about leveraging the contacts you have already.

There are even better strategies to do this.

However, there are better ways to do affiliate marketing and be very profitable.

Start-Up Costs: =N= 30,000 - =N= 100,000 (if you’re starting with a local affiliate network, and as much as $3,000 with a foreign one – because there’s lot more competition there)

Skills Needed: marketing, traffic generation,

Time Before Profit: As little as 30 Days (4 weeks)

Other Affiliate websites:

  • JVzoo.com
  • Warriorplus.com
  • Commissionjunction.com
  • Clickbank.com

     5. Consultation/Coaching

The consulting business is the next level information marketing if rightly packaged can continue to generate you money till you die.

It's basically offering advice based on your expertise to a specific group of people. So, you have to be an expert at something to do this. 

A consultant's job is to consult. Nothing more, nothing less. It's that simple. There's no magic formula or secret that makes one consultant more successful than another one.

But what separates a good consultant from a bad consultant is a passion and drive for excellence. And oh yes a good consultant should be knowledgeable about the subject he or she is consulting in. That does make a difference.

You see, in this day and age, anyone can be a consultant. All you need to discover is what your particular gift is. 

For example, are you very comfortable working around computers? Do you keep up with the latest software and hardware information, which seems to be changing almost daily? 

And are you able to take that knowledge you have gained and turn it into a resource that someone would be willing to pay money for? Then you would have no trouble working as a computer consultant.

Now, don't get the wrong picture here. This is not about getting a fancy office and employing a thousand staff.

You can do this from the comfort of your home and make 6-7 figures monthly and consistently.

Start-Up Costs: =N=20,000 - =N=50,000 (depending on what skills you have)

Skills Needed: very specialized knowledge and skill in a subject area.

Time Before Profit: As little as 30 Days (4 weeks)

That's it, guys.

Now, it’s time to go start making money...right?

WRONG!

What you want to choose is the model that plays into your personality and unique skills and strengths. Because what I have found is, the second BIGGEST reason people fail is they take on business models that are way out of their skills zone.

Now the problem with this is, it can take you months, maybe even YEARS to master these skills if you do not have them.

For example, people choose to freelance, when they don’t have specific specialized and technical skills, for example, writing, or design, required for freelancing.

So they then struggle to learn and catch up. And many times, by the time they do, they find out that the specific strategies or even skills within the particular business model have changed and you need to learn some more, and some more, and you end up in perpetual learning mode.

When you choose and work with a business model that is unique to your skill set or you can very quickly learn, you succeed and reach your goals faster.

Now you may be wondering, so how do I know what my personality and the skills set that matches it?

All you need do is simply head over to www.16personalities.com which is an online service that does a psychographic analysis of your mental makeup by asking you questions you provide answers to, which then gives you ideas and suggestions and it is uncannily accurate.

How do I know?Because I have taken the personality test myself.

There are 4 broad answers you’ll get when you go through the question set in 16Personalities.com.

They are:

  • Analysts
  • Diplomats
  • Sentinels
  • Explorer

Each of these broad personalities is further broken into 4 distinct personality types within each broad one described as:

  • INTJ-A / INTJ-T
  • INTP-A / INTP-T
  • ENTJ-A / ENTJ-T
  • ENTP-A / ENTP-T

I’ll share what they are and then explain the results and finally match them to each of the business models above.

Now what you must do next is, take the test, then take the result you get, and you can then see which of the business models above YOU should be focusing on and choosing to do.

Now go to 16personalities and take the test

www.16Personalities.com

Then come back here and see the breakdown for each and which business model matches the result you got.

     ANALYSTS:

  • INTJ-A / INTJ-T: Architect

Architects are imaginative and strategic thinkers with a plan for everything, people with the Architect personality type are always coming up with new and creative ideas to be heard.

They usually prefer to work alone or in small groups.

Business models to consider:

- Freelancing

- Consulting/Coaching

- Information Marketing

- Ecommerce

  • INTP-A / INTP-T: Logician

They are innovative investors with a plan for everything. They love creating, patterns, and spotting discrepancies.

Business models to consider:

- Freelancing

- Information Publishing

  • ENTJ-A / ENTJ-T: Commander

Commanders are natural-born leaders. Bold, imaginative, and strong willed, always finding a way or making one.

People with this personality type embody the gifts of charisma and confidence, and project authority in a way that draws crowds together behind a common goal.

Business models to consider:

- Consulting/Coaching

  • ENTP-A / ENTP-T : Debater

These are smart and curious thinkers who cannot resist an intellectual challenge.

If there’s anything Debaters love, it’s flexing their mental muscles, and any environment that lets them devise new approaches, new ideas and new projects, that allows them to push the limits of their creativity

Business models to consider:

- Information Publishing

- Affiliate Marketing

DIPLOMATS

  • INFJ-A / INFJ-T : Advocate

They have very strong opinions and will fight tirelessly for an idea they believe in. They are decisive and strong-willed, but will rarely use that energy for personal gain.

Advocates will act with creativity, imagination, conviction, and sensitivity not to create an advantage, but to create balance.

Business models to consider:

- Consulting/Coaching

- Ecommerce

  • INFP-A / INFP-T : Mediator

Mediator personalities are true idealists, always looking for the hint of good in even the worst of people and events, searching for ways to make things better. While they may be perceived as calm, reserved, or even shy.

Business models to consider:

- Freelancing

- Information Publishing

  • ENFJ-A / ENFJ-T : Protagonist

They find it natural and easy to communicate with others, especially in person, and their Intuitive (N) trait helps people with the Protagonist personality type to reach every mind, be it through facts and logic or raw emotion. 

Protagonists easily see people’s motivations and seemingly disconnected events, and are able to bring these ideas together and communicate them as a common goal

Business models to consider:

- Information Publishing

- Consulting/Coaching

  • ENFP-A / ENFP-T: Campaigner

This is a true free spirit. They are often the life of the party, and are less interested in the sheer excitement and pleasure of the moment than they are in enjoying the social and emotional connections they make with others.

They are charming, independent, energetic and compassionate.

Business models to consider:

- Affiliate marketing

- Information Marketing

- Ecommerce

- Consulting/Coaching

SENTINELS

  • ISTJ-A / ISTJ-T : Logistician

Logisticians hold back none of their time and energy completing each relevant task with accuracy and patience.

Their defining characteristics of integrity, practical logic and tireless dedication to duty make Logisticians a vital core to many families, as well as organizations that uphold traditions, rules and standards.

Business models to consider:

- Freelancing

- Ecommerce

  • ISFJ-A / ISFJ-T: Defender

The Defender though sensitive, have excellent analytical abilities; though reserved, they have well-developed people skills and robust social relationships; and though they are generally a conservative type, they are often receptive to change and new ideas.

Business models to consider:

- Freelancing

- Ecommerce

  • ESTJ-A / ESTJ-T : Executive

Executives are representatives of tradition and order, utilizing their understanding of what is right, wrong and socially acceptable to bring families and communities together.

People with the Executive personality type are valued for their clear advice and guidance, and they happily lead the way on difficult paths.

Business models to consider:

- Freelancing

- Consulting/Coaching

  • ESFJ-A / ESFJ-T : Consuls

Consuls are the cheerleaders and the quarterbacks, setting the tone, taking the spotlight and leading their teams forward to victory and fame.

They are well-organized, enjoying bringing order and structure to their workplaces, and often work best in environments with clear, predictable hierarchies and tasks. Monotony and routine work are not a challenge for the Consul personality type, as they are happy to do what needs to be done.

Business models to consider:

- Consulting/Coaching

- Freelancing

EXPLORERS

  • ISTP-A / ISTP-T : Virtuoso:

Virtuosos are born problem-solvers with an unwavering focus on practical solutions.

They love to explore with their hands and their eyes, touching and examining the world around them with cool rationalism and spirited curiosity.

People with this personality type are natural Makers, moving from project to project, building the useful and the superfluous for the fun of it, and learning from their environment as they go.

Business models to consider:

- Information Publishing

- Affiliate Marketing

- Ecommerce

  • ISFP-A / ISFP-T : Adventurer

Adventurers live in a colorful, sensual world, inspired by connections with people and ideas. These personalities take joy in reinterpreting these connections, reinventing and experimenting with both themselves and new perspectives.

Business models to consider:

- Video Content Creation

- Freelancing

  • ESTP-A / ESTP-T: Entrepreneur:

People with the Entrepreneur personality type think on their feet and are great at making quick decisions in the heat of the moment. At the same time, they’re affable people who always seem to make friends and connections wherever they go.

Business models to consider:

- Information Publishing

- Consulting/Coaching

  • ESFP-A / ESFP-T: Entertainer

Entertainers have a unique quality that makes them exceptional in some careers, and miserable in others – they mirror the mood around them.

Entertainers get caught up in the excitement of the moment, and want everyone else to feel that way, too.

Business models to consider:

- Freelancing

- Video Content Creation

Now, you know all of these, how do you then make your first N1,000,000 online?

How To Make Your First Mil Online

What I am about to share can be applied to any currency but just using the Naira for illustration purposes.

What I am about to share with you was first shown to me by my mentor Ronald Nzimora.

I remember we were in his car that day when I told him I wanted a car and he just looked at me and smiled.And he said “It’s actually easy to get yourself a car, here’s what you need to do”Sell something in multiples that will give you exactly what you need to get yourself a car.

And to further make his point he, gave me a booklet by Grant Cardone “The Millionaire Booklet”

Let me explain further what this is all about;

If you sell 1 million copies of a product for N1/copy, that will make you 1 million naira (or any currency)

  • sell 500,000 copies of a product for N2/copy, that will make you 1m naira (or any)
  • sell 250,000 copies of a product for N4/copy, that will make you 1m naira (or any)
  • sell 1000 copies of a product for N1,000/copy, that will make you 1m naira (or any)
  • sell 500 copies of a product for N2,000/copy, that will make you 1m naira (or any)
  • sell 200 copies of a product for N5,000/copy, that will make you 1m naira (or any)
  • sell 100 copies of a product for N10,000/copy, that will make you 1m naira (or any)
  • sell 20 copies of a product for N50,000/copy, that will make you 1m naira (or any)
  • sell 10copies of a product for N100,000/copy, that will make you 1m naira (or any)
  • sell 5 copies of a product for N200,000/copy, that will make you 1m naira (or any)
  • sell 2 copies of a product for N500,000/copy, that will make you 1m naira (or any)
  • sell 1 copy of a product for N1,000,000/copy, that will make you 1m naira (or any)

You may think this list is just rambling but inside it, contains the real reasons many people make money in business.

Let me point them out:

  • Many people sell products that can only make them very little money, because that product/service cannot be sold for more.

For example, do you think your neighbourhood wandering shoe cobbler is going to make a million doing that?

It will never happen. Doesn’t matter how hard he (or she) works or how big he dreams.

  • Many people choose a business model that requires them to sell at scale to make significant money, but they do not have the advertising knowledge or finance to do so.

This means they choose a business model that requires them to SELL A LOT OF UNITS to make significant money.

There’s nothing wrong with this, though, as long as your business model fits into you selling a lot of units, without necessarily increasing your costs.

This is why I absolutely LOVE Information Publishing, especially selling digital products.

I could put a price to this book and sell it to as many of the 7 billion on earth as are willing to buy it.

It will cost me almost zero to deliver it because it is digital.

In the same light, you can as well sell one billion units of an ecommerce or physical product, but you cannot sell more than 24 hours of your time everyday as a freelancer or consultant/coach.

This is because you cannot create more time every day. You cannot even work 24 hours straight every day since you have to sleep, bathe, talk, eat, move around, and do many other things that will take time.

Those business models put a cap on how much you can make PERSONALLY fulfilling the service.

The only way you can increase income with them is to hire other people to take on more work and fulfill on your behalf OR you get so good at what you do that you can CHARGE A TON of money.

For example, the majority of freelance graphic designers on Fiverr charge $5 for every job they do, but there’s a guy there that charges $10,000 for each job, and [people pay him.

Why?

He designed the APPLE company logo. This positions him as an expert and this is also what consulting firms like PricewaterhouseCooppers (PWC) and Bain & Company do.

  • Many people think it’s harder to sell expensive products, so they seek safety by selling cheap ones and get stuck.

But in reality that’s wrong thinking.

Most of the time, it takes actually the same amount of time (and many times money) to sell a $1 million as it takes to sell a $20 one.

Sure the path to the sale is different, but time and effort is mostly the same.

If you want to make a million of any currency every month, you have two choices:

Either:

1. Sell products/services that can be sold to as many people as possible.

OR

2. Sell products/services you can charge A LOT of money for

This means that the business model you choose is not just one that plays to your strengths and skills, but it must be one whose structure allows you to make A LOT OF MONEY by selling to many people and charging LOW or selling to a few and charging HIGH.

I know of only a couple of internet business models that make this possible.

And my favourite is information marketing. This alone generated me over 30M Naira excluding what I made from my consulting gigs and selling of physical products.

Oh, I didn’t tell you? 

I’m an Architect : INTJ-A / INTJ-T Personality So if you have gone through the test, and finally seen what works best for your personality and that plays to your true strength and it's Information Marketing, I recently was in an interview with my mentor Ronald Nzimora where I explained the secrets I used to make myself an extra N30,000,000 (30m naira) from selling just one digital product.

You can click HERE to register and  watch the training. In the training I shared the PROVEN System I use to sell more info products than my competitors.

And maybe your personality says “Affiliate Marketing” then you can watch a FREE Training by one of my mentors Toyin Omotoso, that shows you how to make at least N500k/M from selling other people’s products

Click HERE

And oh, if you say it is ecommerce, then I have a FREE training on that where you’d see exactly what makes some people successful with their ecommerce business and others don’t

Click HERE to watch the ecommerce Training.

I hope you got value from this short article?

If you did, share with your friends and family.

Leave a Comment

Your email address will not be published. Required fields are marked *

Need Help? Chat with us