11 Small Scale Business Ideas in Nigeria 2020
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Thinking of starting a new business in 2019? Want to increase your sources of income? This is what a thousand of people are also planning to do. Not just you but many are seeing the need to add more sources of income this year.
In the year 2018, I discovered some secrets about starting a business and sustaining it for greater profits. Mastering the technique and honing your skill is of maximum importance to starting your business. There are various reasons to start your business this year.
Why Start Your Business?
There are various reasons to start your own business in 2019. For you to have come this far, I know you have given it your time to weigh the advantages and disadvantages.
You have your personal reasons to start a business but they all fall into these three reasons.
1. To Increase your Income
2. To Self Employed
3. To have fun
No matter how hard you try to run away from the reality, your conscious or subconscious goal for starting a business fall into one of the first two reasons and seldom fall into the third reason.
They are all good and qualified reasons to start a business but if that is just your goal, you may fail easily and lavishly fall.
Do not get it wrong? To increase your income is a major reason to start a business but it must be complemented by the:
URGE TO HELP MORE PEOPLE
Let it be at the back of your heart that your goal is to help people solve their problem and earn while doing so. Business is a give and take process.
Let your optimum goal be to value your client.
If you value your clients, your clients will value you more than you could ever ask for.
Whatever your hand finds; do it well
No matter what type of business you start, learn to value your clients and you will discover the gold in that business that your competitors have never come across.
The most lucrative business idea is finding the need of the people around you and filling the gap.
There are various ways of finding the needs of the people around you, which can be done in the following ways:
WAYS OF FINDING NEW BUSINESS IDEAS
• Interviewing people
• Magazines, Newspapers
• Personal need
You could find answers to your question by interviewing people face to face, through emails, surveys, and many other ways. Interviewing people is a powerful way of discovering the needs of people around you.
MAGAZINES, NEWSPAPERS AND MEDIA
The media has made research easy through magazines, Newspapers; you can paint a picture on what the needs of the people around you are. This can be done by reading latest updates.
Complaints have a long way to go in answering this question. Complaints gives you an insight to what people need, how to improve a particular product or service; what to add or remove to satisfy your customers.
Pay optimum attention to complaints and be slow to anger while customers complaints.
There is always something precious (could be idea, lesson, secret) in every complaints your customers or people log.
Your job is to figure that out.
Whatever you long for, others also long for it. Do not wait for someone or government to provide that need.
You could go out and solve that which could be the greatest business idea you could ever think of.
When there is no one selling a particular product you need, go think over it as that could be a gold mine yet to be discovered in your area.
As what sells in your community might be a foolish idea in my community.
Be a sensitive believer
Now that you have the knowledge of discovering lucrative business ideas, that is worth investing in this year.
Let this be in you:
It is not what you sell that matters but how you sell it is all.
Hope you are jotting something.
Before going through the list, have in mind that some business ideas require you to learn a new skill, master your skill and gain some experience.
Your readiness to learn a new skill, hone your skill and keep learning to obtain mastery of the skill is what sets you out as a unique person in your chosen field.
The ability to learn, unlearn and relearn is what you need this 2019.
Remember, learning is a long life process.
Here is my list of lucrative business ideas for 2019.
#1 Graphics Designing
Graphics designing involves you designing flyers, logos, web layout and other things. If you have this skill, set out to start a business based on it.
If you don’t have the skill but you are passionate about it, it is something easy to learn. You can learn
graphics design online by buying courses on udemy
To master the skill it is up to how well you practise.
To speed up your learning process, design every day for at least five (5) hours.
How to Get Started as a Graphic Designer
After honing the skill, the next thing is to market yourself and build a brand to reckon with.
Follow these 5 Steps
1. Build a portfolio or a blog where people can find you and view your works (This is optional but helpful when getting started)
2. Register with online freelance websites such as
fiverr (click here to register with fiverr)
For as many who do not know what a freelance website is, I’ve got your back.
Freelancing is being self-employed and hired to work for different companies on different assignments.
A freelancer can then be defined as a person who is self-employed and is not committed to a particular employer long-term.
A freelance website is a website that brings freelancers together and gives them opportunity of being hired by individuals and companies.
The three most popular freelance website to register with are:
• Fiverr (click here to register)
• Freelancer (click here to register)
• Upworks (click here to register).
I suggest you open these links in separate tabs and register now.)
3. Set up a Facebook Page for your brand and a LinkedIn account.
Most business owners do not know the part the internet plays in the success of their business. Many of your prospect clients are somewhere on the internet discussing about things related to your products. Your ability to use that to your advantage is what sets you apart from others in your field.
4. Do Some Free works both online and offline
A lot of you do not like this idea because they are scared of losing their capital. This idea could be useless to you, but this same idea has helped a lot of companies double their revenue.
Also, this gives you the opportunity to showcase your designing skills and gain credibility.
5. Learn Marketing Continuously
Listen, this is the most important thing to take note, marketing techniques change yearly. Your ability to keep up with latest marketing strategy is a bonus.
“Learn to do SMART work and not HARD work”
#2 Poultry Farming Business
This has proven to be a very lucrative business. Poultry farming involves the rearing of poultry birds (chicks) for egg and meat. Rearing of poultry birds is easy if you have the required knowledge, but if you lack the knowledge you could endanger your poultry birds.
Poultry farming will be much more lucrative, if you learn how to make their feed. If you are experienced in rearing poultry birds, then I strongly advise that you learn the process of making their feed.
During my early stage of poultry farming, I lost some of my birds to a particular disease (Coccidiosis), but still made profits though minimal. As a result, I learnt the process of making poultry feed, which has increased my profits.
So I strongly suggest learning the skill required to improve and increase your profit in business.
How to Get Started
• Decide on the breed of poultry birds you want to rear
• Prepare the Pen house for the birds
• Have your birds treated with the required vaccines or drugs
• Contact target customers which are restaurants, hotels, frozen food stores and other target market.
• Seek help when need arise
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#3 Importation Businesses
This is lucrative as other business ideas. There is a possibility that you are new to things like this, you do not have to worry. Learning is not a crime.
Importation business warrants your ability to see the need and fill that vacant spot.
Importation business has been made easy through the introduction of online wholesale stores such as Amazon and other online retailers.
If you are comfortable with this idea, get to work now and be consistent.
#4 Fish farming
This is also as lucrative as poultry farming. Fish farming involves the rearing of fish for the commercial purpose. The most reared specie in Nigeria is Catfish and Tilapia fish.
Your target customers are hotels, restaurants, and fish mongers, companies producing can foods, final consumer and many others.
The by-products of fish are also useful in various sectors such as health, food industries and other sectors.
This is why the fish farming is highly profitable.
#5 Laundry Services
Laundry services are a lucrative business in developed cities and could be the worst business idea in underdeveloped places and villages. This is because most people in the village wash their clothes themselves.
Laundry service is a simple business to set up in cities like Lagos. There is nothing new or technical about this as an illiterate can run this business as far as he has the basic knowledge.
#6 Events Planning
As it name goes, it involves the planning of events ranging from wedding ceremony, conference, birthday parties and many other events. This will take a lot of patience, in order to network for greater contract.
#7 Digital Marketing Service
Digital marketing is my best. I love marketing, because it brings out the creativity in you. Mastering digital marketing activities involves patience and hard work. Once you master the skill, then every other business you start will be a success. Every successful multi-millionaire started their journey as a sales personnel or sales manager. Selling is interesting and I think everyone should learn how to sell.
“Learn the act of selling”
To learn everything you need to know about digital marketing, I and my team have packaged a good resource to help you as a beginner.
The world is evolving as fast as possible and everything is being computerized. There is the creation of online stores, blogs, websites, online maps, etc.
This is the reason why programming is ever lucrative. There are various work opportunities and companies you can work with such as Quora, Wikipedia, Facebook, Uber, Apple, Microsoft, Amazon etc.
You can also start your own firm where you provide I.T. solutions to companies.
This is also a lucrative business idea, but in order to stand out of the crowd, you must do something new to make you a unique brand to reckon with.
There are different technological tools you can use to your advantage such as Instagram, Pinterest, Facebook, and Blogs etc.
Photography will be a lucrative business if you improve your method of approach.
#10 Web Development
This is also as lucrative as programming. It involves the development of websites, building of theme and templates and providing web solutions to individuals and companies.
Remember: Practise makes perfection.
#11 SEO Consultancy Business
SEO means Search Engine Optimization. If you have knowledge on SEO, then this could be lucrative for you. Just learn SEO (Search Engine Optimization) and you will have your share in the internet pie.
Read Neil Patel to learn more about SEO
I decided to put this last, as this requires patience. Though all internet business requires patience but blogging requires much more. If you are good at writing, that will help you and boost your blog growth.
Remember, your blog’s growth is directly proportional to your investment be it time investment, capital investment and skill investment.
Investment is the backbone of business; learn to invest in your ideas.
Once your blog is gaining a good amount of monthly traffic, you can look into monetising your blog. Google AdSense is an ad network that allows you earn from your blog.
Getting Ahead of Competition
There is a rule that stands true to all business ideas you could think of.
“Top 20 percent of people earns 80 percent of the money and enjoy 80 percent of the riches and rewards.”
This is he “Pareto Principle”
You have to join the top 20 percent in your field. You cannot put the same effort as others put into their business and expect to earn more than them.
In order to earn much more and stay out of competition, you need to work much more, read more books related to your field, learn from the leaders and top people in your field, move with the top people in your field, wake up much more earlier than before and put things in order for the day.
Do this and you will earn much more and stay ahead of competition; eventually away from competition.
Wondering, what I meant by “away from competition?
Google is an example of company away from competition, because there is yet to be a qualified competitor.
So, work hard to stay away from competition.
Be patient, and open minded to your client and finally.
When to start?
Start now! Get on your feet and start now.
Write down your goals and deadlines and work towards achieving them.
Hey, keep me in touch, I would love to hear your success story and share it on this blog.
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Small Scale Business Ideas in Nigeria 2019