Beginning a business demands an enormous amount of capital investment in the beginning, among other things, particularly when you’re in industrial production or similar. Naturally there are plenty of costs that come with businesses, from registration fees to the CAC hiring new employees as well as leasing(or purchasing) the equipment and physical structures required for the company. The costs have hurt many businesses since the beginning.
What if you have this burning desire to go into business, but don’t have an abundance of capital available? Here’s a list of ideas. created some ideas for businesses you can begin without much or no capital in Nigeria.
While, many of the ideas below will require you to be able to perform the task at the very least. Before embarking on any business venture, it’s essential to have a certain amount of knowledge in the field particularly in digital skills.
But, becoming proficient nowadays is as simple as it gets, especially because the advancement of the advancements in technology. Just visit sites such as Coursera, AltSchool, or Udemy for access to a wealth of information that can guide you at your own pace towards learning any skill you desire.
In the following steps, you’ll have to create your portfolio, which will show you as a professional anyone who might be a potential customer. You’re now ready to go on the market!
The great thing is that you shouldn’t have a ton of money before you can start one of the ideas listed here. These are work-from-home, flexible companies. There is no need to lease an office, but they do need to have a space!
Let’s get started
Table of Contents
Ideas for business ideas that you can begin with nothing
1. Digital product creation
Digital products , once made, will last for a long time and don’t require any additional effort from the creator, except for regular updates. In the digital age making things like podcasts, online courses, eBooks and YouTube videos are all just a matter of thorough study on the part of the creator in order to bring them to life.
The trick is to identify a subject that which people are truly interested in or issues with the product already in use that are the biggest pain points for people. Your task is to find solutions to these issues by creating digital products.
A simple way to discover what people are most interested in is to read the comments section on relevant topics on websites, blogs and YouTube videos. You should then have an the knowledge of what’s bothering your target group of people. It should be something that they’re willing to pay for.
What happens after you have created an online product? You can sell your digital items via online shops such as amazon.com and Jumia.com This makes the entire sales and purchase process extremely adaptable.
2. Marketing of information
The information age is upon us so information products are extremely sought-after. Like the first point, however, this is simply packaging information in a readable format that is easily accessible by anyone.
When you do this, you could make money from the knowledge and skills you have at your disposal. What are you truly skilled in? What are your strengths? which you are willing to give to the world at cost? You can make it an ebook that can be sold through Amazon Kindle Direct Publishing (Publish your book for free) or blog, create your own site, etc.
3. Marketing through affiliates
This is an excellent method to begin a business without spending a dime. You basically sell other people’s goods in exchange for a percentage of them. Stores such as Amazon and Jumia offer affiliate programs that you can sign up for and earn for every purchase made using your personal link.
Another option to become an affiliate marketing professional is to help promote other people’s courses or products on your social media channels in exchange for a percentage for each sale they generate through your.
The idea of starting a freelance business is among the underrated business opportunities across the globe. It requires no capital investment to get started. Professional freelancers make an average of seven (7) figures per month. You also have the flexibility to work and are able to set your own hours as freelancer. You can also select the type of client that you provide the services of.
It could be an opportunity to earn extra income, and can also be a full-time position. The only thing you’ll need to become a freelancer is an computer (or smartphone, if you’re the case may be for a newbie) and a reliable network, and a sufficient data storage.
There are certain platforms on which you can quickly find customers and grow your resume as a freelancer like Freelancer.com, Upwork.com, fiverr.com and many more.
The skills you can hire freelance include graphic design, content writing performing voiceovers, video production and editing, translation solutions, writing copy for and the list is endless.
It is crucial to remember that being a successful freelancer means being extremely proficient at what you do since your clients will pay you according to the way they judge on the value of your work.
5. You can become an online assistant
If you’re an organised person who enjoys being able organizing things and assist others to achieve their goals, then look into starting a virtual aid outfit.
Executives and business owners of firms do not have time to track their work schedule and keep track of their agendas. Virtual assistants require that you work remotely from your home and is also very affordable to establish.
Essential skills required for this position include excellent communication skills, editing skills, organizational skills and at a minimum computer abilities.
6. Social media manager
By 2021, there were 4.48 billion users using social media. Some of these “people” are business accounts that are officially owned by busy executives of companies and entrepreneurs who need to concentrate on their business.
You are able to request to handle their Facebook, Twitter and Instagram accounts for a small fee, which includes regular publishing and creating content as well as managing engagement on their pages as well as driving traffic organically to their sites. This is a venture that you can begin without spending cost and all you need is a solid understanding of the major social media platforms such as Facebook, Twitter, Instagram and LinkedIn.
If you’re a social media supervisor you’re worried about the image that is projected by the company you’re in charge of. Sometimes, you’ll require some strategies of marketing into practice in order to increase the sales turnover.
Whatever service you decide to provide, it should make your customer very easy ease their stress and improve their productivity. This is your main advantage as a social media manager.
7. Homeschooling children
If you’re gifted to teach, you might think about starting a private tutoring program. It’s very affordable to establish and can cost up to six figures per month, based on your price negotiation with your parents.
It is possible to start your own business by educating the parents of your community about your business and printing and disseminating promotional flyers in order to draw an even larger audience. Additionally, you can enroll as tutoring on websites like www.cheggs.com.
8. Write a book
A lot of people require help creating business plans, cover letters or even editing or proofreading their writing. If you are a writer who is passionate then you should think about creating an online editing and writing agency.
You can also ghostwrite for busy people with brilliant ideas, but do not have time to put their ideas into the form of a book. Your business can alleviate the pressure of these individuals by helping them bring their thoughts into reality. Writing content, YouTube script writing, etc.
You can also create your own journals, books and other literary material to be published for free through online publishers such as Amazon’s direct publishing on the kindle. Amazon prints your novel on hard copy after someone places an the order. Then, you’re the money!
9. Monetize your audience
A lot of businesses are in need of more attention in the current marketing environment. If you’ve got an actual number of social media followers, you might want to consider making money from your website.
All you need to do is put advertisements and other information about the companies on your page to boost conversion and then you’re the money.
You can also be an influencer for a fee through social media. It requires you to develop an audience that you are able to make money from in the long term. This is accomplished by sharing important content regularly on your website and also putting page engagements as the most important thing to do.
10. Become a consultant
Another option to earn money even with a small amount of capital is to provide professional consulting and life coaching for those prepared to invest. Your specialization could be based on your own personal experiences or your field of academic experience.
It is a goldmine that is not yet tapped all over the world that is not restricted to a particular area or type of. Be a pro at helping people get the success they want through your products and services and your business will be able to market its services.
When you start a small-scale company it is essential to be ready to work long and hard hours commitment and dedication which assist the business to grow faster than later. Be patient, your business may be slow at first, but over time and with perseverance you’ll begin to see the fruits of your labor. This list isn’t in any way exhaustive of small-scale business ideas that you could start with no money. All you need to do is be creative and find opportunities in areas where others are seeing difficulties.