While working a traditional nine to five job is great, so many fresh graduates in Nigeria are beginning to migrate towards the less conventional jobs. Passive income generation is now trending in the country. This is where you get paid over and over again for work that you did once. By choosing the right sources of passive income, you can invest your time the way that you want to. There are so many opportunities out there to make residual income. Having a Secondary source of income can be a huge blessing for so many fresh graduates out there. So, in this post we are going to check out a few income generating ideas for freshies in Nigeria. You can add yours
1. Dividend income. Dividend – paying stocks are a great business idea for graduates who are looking for ways for making a living with passive income. Dividend income is dividend laid to shareholders of stocks in the firm of cash in your bank account. Even Warren Buffet is a typical example of a lover of dividend – paying stocks. If you’re considering making income from dividend paying stocks, you need to make sure that you first get enough education and training for yourself, and while you’re at it ensure you pick solid stocks so that you can you can depend on your dividend income for the rest of your life. Do your research well. Find out platforms in Nigeria that offer expert training and services on stock investments. Also you will need to keep in mind that there are risks to investing. It is also worth noting that amateurs are more likely to fall prey to losses. For this reason, seek out programs that will effectively expose you to stock investments. Go online and check online courses that offer stock trading and investment courses before you start. Next, reach out to your network and find out how to go about buying good solid sticks. You will need quality referrals and contacts for this one. So good luck.
Write a book. If you’ve finesse at writing and you aren’t doing it much justice, you should probably consider writing books. It won’t only help your writing skills, but will also earn you LOTS of extra cash. Once the initial work of creating the book is done, and you’ve spent some time developing an effective marketing plan, selling your books can be a great way of generating some serious residual income. Writing a book is relatively easy once you’ve got skills and a great idea package. What is majorly required is developing marketing strategy. Your marketing efforts are actually where all the work lies. First, determine your target market or audience and then take steps for marketing your books accordingly. If for instance, you’re writing for secondary school students, you want to make sure your books get to as many secondary schools as possible. To tackle this, you could meet with the State Education Board and work out a marketing plan from there. To generate huge profits you will need to see to it that your books are widely distributed in as many secondary schools as possible. In this case, you can give yourself a sales target, like say selling to at least 300 secondary schools in your own state, setting benchmarks like this will help you break-even faster. You could get your book marketed online too. Once your book is available on a site like Amazon, you could receive a check each month for doing absolutely nothing. And from all indications, it is obvious that the more time you spend marketing your books, the more money you’ll make. So if you plan on hitching with this business idea, good luck.
Real estate. Real estate business is another great platform to start generating income for Nigerian graduates, and it is really easy to start. You don’t necessarily need an office space. You can start by reaching out to your own network, by linking property buyers up to property sellers, business has officially started. Of course you have to be ready to move around, as mobility is an essential for the success of this business. And don’t forget marketing, without marketing NO BUSINESS can survive, right? So get ready for serious marketing, because that’s where all the cash comes from.
Affiliate marketing. If you already have a website, then affiliate marketing should be pretty easy for you to start. So many people are making as much as $5000 per month from affiliate marketing. If you don’t have a website, you can start one for as low as #80,000. Affiliate marketing can be a really great way to make passive income, because when people click on the affiliate links on your site, you receive a commission at no additional cost to them when they purchase a product or demand for a service. Now, note that affiliate marketing can also be done offline as well, though it’s a little different. In this case, you may actually need to make direct sales to be able to gain commission for your efforts. Offline affiliate marketing is however as profitable as online affiliate marketing, the only difference here is that offline affiliate marketing requires active marketing efforts, and most times, you may actually need to move around to effect sales of the products or services you are marketing. But if you ask me, it’s actually a very rewarding income generating idea for fresh Nigerian graduates and should be highly recommended and encouraged
Online store. With the explosion of e-commerce in Nigeria, if you’re a fresh graduate inclined towards e-commerce, you could create an online store with drop shipping. Drop shipping has become very popular, and it’s really simple. Here’s how it works: you just need to create an online store that offers products from certain manufactures. So, whenever someone visits your site to make purchase of a product, the person orders a product and your system sends the order to the specific manufacturer. From there the manufacturer then completes the order by shipping it directly to the customer in question. An exciting thing about this type of business is that you do not need to order inventory. All you need to do is put up the site and the necessary system in place for effective transactions, and that’s it! The customer orders and pays for products; and you collect the profits, and the manufacturer stores and ships the products to the customer. It’s as simple as that really! If you’re interested in this drop shipping business, you should consider using sites like shopify to build your own online store. Shopify is recommended for new startups who are largely inexperienced with no idea how to go about the entire process. So check it out.
Start an online course. Online courses can be a great source of earning passive income. To start, you just need to create a value – packed online course that helps solve a problem or fills a need, then decide on the perfect media of delivery of the courses which could include: videos, ebooks and emails with pertinent and concise information. When customers sign up to purchase the course, your system automatically emails them everything in the course content that they need, or it may otherwise provide them links to access the study materials. This is a great income generating idea for freshies in Nigeria, for one, you stand a chance of honing your skills for educating others and not to mention that you even begin to master whatever it is you’re delivering your students/ customers. Creating online courses is highly recommended for fresh graduates as it the perfect tool to help them sharpen their skills and put into practice all that they learnt in school.
Create YouTube videos. You can start earning lots of cool cash by creating and uploading videos on YouTube. Everyday regular people like you and me are making money on YouTube.For each time someone watches your video there are certain systems in place that enables you to generate money from just that. Also each time someone watches one of your videos, ads may appear and you can make money from those ads. The basic secret for being widely successful with YouTube is building a large enough subscriber and viewer base. It is worthy to note that you may not make a living off of just a few videos. So you will need to get ready to make at least over a 100 videos if you want it to effectively take off. Granted it may take you a lot of time up front, but once your videos are live, there is great potential for you to make relatively sufficient income from each of your videos indefinitely.
Create a mobile App. If you’re the tech lover, you can come up with some unique ideas for mobile apps, or improve upon an already existing app that will help people better their lives and you could be on your way to making for yourself a source of passive income. Every app on your phone is helping someone else out there make some money. For instance, Joel Comm made over $1 million from his ifart app.
Product design. This is another sure way of making passive income. By simply offering T- shirt and product designing services, you can start earning lots of huge money. Right now, there are sites that allow you to upload your design ideas and then create t- shirts, coffee mugs, laptop covers, mobile phone pouch and a lot of other products. When shoppers visit the site, check out your products and then purchase one of your design,the site will then pay you a portion of the profits.
Start a blog. I mean you can never go wrong with blogging. Once you’ve got a value – packed content, blogging business is guaranteed to take you to heights you never imagined. The potentials in blogging business is unlimited, I would personally advise fresh graduates to look into starting up their own blogs.
Event coordinator. This is great for so many people, if you know how to put a good event together. You should consider going into event planning and organisation. Events like birthdays, family reunions, weddings and large parties are often full of busy work that many people would readily hand over to an event planner. And now it’s even much easier with availability of Internet, planning your events is much easier and smoother to run.
Resume writing. One common side business now for so many people is writing in general, and resume writing is one of them. If you’re excellent at crafting killer resumes that ultimately results in people getting the job, that’s good news. Most of your work here will revolve around writing, editing, reviewing, and designing. So if you’re a fresh graduate with no idea what to do with this skill, why not consider setting up your own resume writing services.
Over to you…
- Writing a CV for Career Changers: Showcasing Transferable Skills and Emphasizing Relevance - October 4, 2023
- Top 10 Tips for Writing an Effective CV - September 19, 2023
- 10 SKILLS AND CERTIFICATIONS YOU NEED AS A FRESH GRADUATE - February 22, 2018