5 Online Hustles That Will Make You Rich in 2020
In this information and internet driven age, it's no more Oil-money, it's now Internet-money.
If you are here, you probably already know it's possible to make money online, you just might not know how to yet.
There are a million ways to make money online. Believe me, no exaggeration. From building startups that majorly exists online to using it to leverage your skills or already existing businesses.
In this article, I'll show you 5 different things you can do online and will make you rich quite soon.
Let's get started already, shall we?
1. Freelancing
Freelancing, simply put, is working as a freelance. And a freelance is anyone who works for an employer without a long-term contract.
If you have any skill or talent, you can decide to be a freelancer instead of having a full time job; or better still, doing freelance alongside your major job.
You've seen freelancers all around, you just might not have recognised them.
That your student friend who uploaded a status telling people he does graphics designs, your tailor friend, and your other friend who has a full-time job but does website designs also are all freelancers.
Don't panic yet if you don't have one serious skill or talent, some people record only happy birthday songs for celebrants and make money from it — you just need to be in the right media where people interested in your skill are.
How do you start freelancing in Nigeria? Do this:
Identify a skill you're good at.
Publicise yourself using the right medium - Social media, Fiverr, or Upwork.
Network with people and others in your field.
Set good standards — this will expand your network too.
Two of the most popular places to make money as a freelancer today are
Fiverr and Upwork .
Fiverr and Upwork are online market places for freelance services.
When people who need freelance services get on Fiverr or Upwork, they search for the service and relevant freelancers who can do the job are shown.
If you're on any of these two platforms and someone searches for a service that you can do, you just might show up and be the one to get the job.
Read these articles to get started with Fiverr or Upwork:
How to Make Money on Fiverr in Nigeria
15 Ways to Make Money on Fiverr
How to Start Making Money online
With Upwork
New Freelancers: How to Make Money on Upwork
2. Affiliate Marketing
According to Wikipedia, Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate's own marketing efforts.
Simply put, as an affiliate marketer, you work for a business and the business rewards you for carrying out or fulfilling a task.
What you do can be as simple as getting people to register on a platform or as tasking as looking for people to buy houses within an estate.
Nowadays, however, most affiliate marketing programmes are done on the Internet and are usually the case of you looking for potential customers for the business then the business pays you a commission on whatever the customer purchases.
There are quite a lot of businesses that runs affiliate programmes, one of which is Jumia that pays up to 13% commission on all orders customers you refer makes.
Here are a few things you might need to know to help your affiliate marketing journey:
Affiliate marketing - Wikipedia
How To Make Money With Affiliate
Marketing Programs In Nigeria
Top Affiliate Marketing Programs in Nigeria With High Commission
3. Forex Trading
Foreign exchange (Forex) is a global decentralized or over-the-counter market for the trading of currencies . Therefore, forex trading simply means the trading of currencies.
The idea of forex trading is to make money from the little changes in the values of currencies.
For example, you can buy the Naira when it is #350 to a dollar hoping it'll rise to #360 naira to a dollar soon and selling it when this happens. You can trade the other way too. Meaning you can sell at high price hoping to buy back at a cheaper value.
To make the little changes in currency values worth a lot more money, Lots are used in the Forex world. The little #10 change in the example above can worth as much as $100, $1000, $10000 or even a lot more depending on the Lot used.
To predict a possible rise or fall in a currency value, analysis is done. There are 3 types of analysis used in Forex trading: technical analysis, fundamental analysis, and sentimental analysis.
Forex trading can sure be a steady source of meaningful income; however, you should known it is a very risky game and you can lose your money before you even blink.
Here are some resources you should check out if you're interested in Forex trading:
Forex Trading: A Beginner's Guide
How to Make Money Trading Forex
How to Trade Forex (School of Pipsology)
4. Bitcoin Trading
Bitcoin is a cryptocurrency. Cryptocurrency in the sense that it is a digital asset which uses a decentralised control to work as a medium of exchange for financial transactions.
The decentralised medium of exchange came into existence in 2009 after
Satoshi Nakamoto mined the genesis block of bitcoin. After that, the crpytocurrency has seen a great growth in the financial world and is slowly becoming one of the mainstream mediums of financial transactions.
Because the value of bitcoin changes, it is possible to make money with it.
When the value is low and you believe it will rise, you can buy it and wait for it to rise in value, then sell it out. This way, the profit is the amount you gain from the increase in value.
Consequently, when the value is high and you believe it will soon go low, you can sell at that high price and buy it back when the value is cheaper.
Here are a few resources to give you a head start on trading bitcoins:
Bitcoin Trading Guide for Beginners
How to Trade Bitcoin
Benefits and Risks of Trading Forex With Bitcoin
5. Blogging
You probably already know about this.
To start with, a blog is a frequently updated online journal or diary. It is a place to express yourself to the world. A place to share your thoughts and passions.
After growing your blog's traffic or audience base with your passion, ideas, and amazing contents, you can then monetise your blog by serving ads, selling products, or through one or more of the many other posible ways.
The most common way to monetise a blog is to serve ads. This basically works if you have enough traffic. So, if you're thinking of making money off blogging, then you should be ready to grow some traffic, too. It isn't that hard to grow a meaningful traffic, yet not so easy.
Here's a blueprint to follow to make money off blogging:
Find a topic or niche you'll like to write about — Entertainment, Sports, or anything.
Decide which blogging platform to use for your blog.
Start your blog.
Write amazing contents.
Find opportunities to grow your traffic.
Be consistent.
Make money!
Also read:
How To Start a Blog – Beginner’s Guide for 2019
How To Increase Blog Traffic: 5 Easy Steps to Stardom
How to Monetize a Blog: 7 Kickass Pro Strategies
Conclusion
The real success is in how you do a business not the business itself alone.
Although I had tagged this online hustles that will make you rich (and they sure can make you rich), they are, however, not automatic gateway to riches.
You have to understand how a particular one you're interested in works and follow through doing it diligently like you would treat any other business. If you do, I believe you'll be a lot more closer to being financially free in 2020 than you've ever been.
Remember to share this so your friends and family can benefit from this knowledge too.Goodluck reader!
If you are here, you probably already know it's possible to make money online, you just might not know how to yet.
There are a million ways to make money online. Believe me, no exaggeration. From building startups that majorly exists online to using it to leverage your skills or already existing businesses.
In this article, I'll show you 5 different things you can do online and will make you rich quite soon.
Let's get started already, shall we?
1. Freelancing
Freelancing, simply put, is working as a freelance. And a freelance is anyone who works for an employer without a long-term contract.
If you have any skill or talent, you can decide to be a freelancer instead of having a full time job; or better still, doing freelance alongside your major job.
You've seen freelancers all around, you just might not have recognised them.
That your student friend who uploaded a status telling people he does graphics designs, your tailor friend, and your other friend who has a full-time job but does website designs also are all freelancers.
Don't panic yet if you don't have one serious skill or talent, some people record only happy birthday songs for celebrants and make money from it — you just need to be in the right media where people interested in your skill are.
How do you start freelancing in Nigeria? Do this:
Identify a skill you're good at.
Publicise yourself using the right medium - Social media, Fiverr, or Upwork.
Network with people and others in your field.
Set good standards — this will expand your network too.
Two of the most popular places to make money as a freelancer today are
Fiverr and Upwork .
Fiverr and Upwork are online market places for freelance services.
When people who need freelance services get on Fiverr or Upwork, they search for the service and relevant freelancers who can do the job are shown.
If you're on any of these two platforms and someone searches for a service that you can do, you just might show up and be the one to get the job.
Read these articles to get started with Fiverr or Upwork:
How to Make Money on Fiverr in Nigeria
15 Ways to Make Money on Fiverr
How to Start Making Money online
With Upwork
New Freelancers: How to Make Money on Upwork
2. Affiliate Marketing
According to Wikipedia, Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate's own marketing efforts.
Simply put, as an affiliate marketer, you work for a business and the business rewards you for carrying out or fulfilling a task.
What you do can be as simple as getting people to register on a platform or as tasking as looking for people to buy houses within an estate.
Nowadays, however, most affiliate marketing programmes are done on the Internet and are usually the case of you looking for potential customers for the business then the business pays you a commission on whatever the customer purchases.
There are quite a lot of businesses that runs affiliate programmes, one of which is Jumia that pays up to 13% commission on all orders customers you refer makes.
Here are a few things you might need to know to help your affiliate marketing journey:
Affiliate marketing - Wikipedia
How To Make Money With Affiliate
Marketing Programs In Nigeria
Top Affiliate Marketing Programs in Nigeria With High Commission
3. Forex Trading
Foreign exchange (Forex) is a global decentralized or over-the-counter market for the trading of currencies . Therefore, forex trading simply means the trading of currencies.
The idea of forex trading is to make money from the little changes in the values of currencies.
For example, you can buy the Naira when it is #350 to a dollar hoping it'll rise to #360 naira to a dollar soon and selling it when this happens. You can trade the other way too. Meaning you can sell at high price hoping to buy back at a cheaper value.
To make the little changes in currency values worth a lot more money, Lots are used in the Forex world. The little #10 change in the example above can worth as much as $100, $1000, $10000 or even a lot more depending on the Lot used.
To predict a possible rise or fall in a currency value, analysis is done. There are 3 types of analysis used in Forex trading: technical analysis, fundamental analysis, and sentimental analysis.
Forex trading can sure be a steady source of meaningful income; however, you should known it is a very risky game and you can lose your money before you even blink.
Here are some resources you should check out if you're interested in Forex trading:
Forex Trading: A Beginner's Guide
How to Make Money Trading Forex
How to Trade Forex (School of Pipsology)
4. Bitcoin Trading
Bitcoin is a cryptocurrency. Cryptocurrency in the sense that it is a digital asset which uses a decentralised control to work as a medium of exchange for financial transactions.
The decentralised medium of exchange came into existence in 2009 after
Satoshi Nakamoto mined the genesis block of bitcoin. After that, the crpytocurrency has seen a great growth in the financial world and is slowly becoming one of the mainstream mediums of financial transactions.
Because the value of bitcoin changes, it is possible to make money with it.
When the value is low and you believe it will rise, you can buy it and wait for it to rise in value, then sell it out. This way, the profit is the amount you gain from the increase in value.
Consequently, when the value is high and you believe it will soon go low, you can sell at that high price and buy it back when the value is cheaper.
Here are a few resources to give you a head start on trading bitcoins:
Bitcoin Trading Guide for Beginners
How to Trade Bitcoin
Benefits and Risks of Trading Forex With Bitcoin
5. Blogging
You probably already know about this.
To start with, a blog is a frequently updated online journal or diary. It is a place to express yourself to the world. A place to share your thoughts and passions.
After growing your blog's traffic or audience base with your passion, ideas, and amazing contents, you can then monetise your blog by serving ads, selling products, or through one or more of the many other posible ways.
The most common way to monetise a blog is to serve ads. This basically works if you have enough traffic. So, if you're thinking of making money off blogging, then you should be ready to grow some traffic, too. It isn't that hard to grow a meaningful traffic, yet not so easy.
Here's a blueprint to follow to make money off blogging:
Find a topic or niche you'll like to write about — Entertainment, Sports, or anything.
Decide which blogging platform to use for your blog.
Start your blog.
Write amazing contents.
Find opportunities to grow your traffic.
Be consistent.
Make money!
Also read:
How To Start a Blog – Beginner’s Guide for 2019
How To Increase Blog Traffic: 5 Easy Steps to Stardom
How to Monetize a Blog: 7 Kickass Pro Strategies
Conclusion
The real success is in how you do a business not the business itself alone.
Although I had tagged this online hustles that will make you rich (and they sure can make you rich), they are, however, not automatic gateway to riches.
You have to understand how a particular one you're interested in works and follow through doing it diligently like you would treat any other business. If you do, I believe you'll be a lot more closer to being financially free in 2020 than you've ever been.
Remember to share this so your friends and family can benefit from this knowledge too.Goodluck reader!
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