Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,511,807 members, 5,727,314 topics. Date: Tuesday, 14 July 2020 at 08:02 PM

Tired Of Being Broke? See How To Earn Passive Income In Nigeria - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Tired Of Being Broke? See How To Earn Passive Income In Nigeria (28241 Views)

How can I stop being broke in 2020? / 6 Sure Ways To Earn Passive Income In Nigeria - Nigerianonlinebusiness / Tired Of Being Broke? See An Opportunity Many Nigerians Have Overlooked (2) (3) (4)

(1) (2) (3) (Reply) (Go Down)

Tired Of Being Broke? See How To Earn Passive Income In Nigeria by loverboys: 4:21pm On Jul 19, 2018
In today’s economy, having a passive income seems to becoming more of a necessity than something of convenience. Passive income is money that you earn without doing much to make it. Some passive income ideas take a degree of upfront work to earn, like writing an e-book and some don’t take any effort at all.

Passive income, on the other hand, is the income you earn from providing value to people through automated systems that need no interference from your end; once you have invested some effort in putting them in place.

With a passive income earner, you will continue to make money even when you are sleeping or on vacation. Your active participation isn’t involved. Passive income comes in the form of dividend, bonus, capital appreciation, rental income, royalties, etc.

So in this article, I will be revealing five profitable passive income ideas that you can start right now. But before I go to that, I would like to remind you that earning passive income takes a good amount of time, effort and even money.

And the rewards don’t come overnight. Anyone who is now making 6 – 7 figures annually from passive income streams started out small and then started to grow that residual income over time. Without wasting time, below are the five profitable passive income ideas I have for you.

1. Blogging

If you have some knowledge, skill, or interest that you would like to share with others, then consider starting a blog. As a blog owner, it is important you publish quality, unique, and relevant information consistently. This will help you build a large audience of loyal readers over time.

When you start generating huge traffic on a consistent basis, you can monetize your blog with contextual ads and by selling ad space. This will continue to fetch you profits in the short and long term.

2.Affiliate Marketing

Sometimes bloggers and website creators concentrate their efforts on promoting certain products where they get a percentage of the cut if a product or service gets sold. This can be done either on your blog or through the use of a niche site. There are dozens of affiliate market places out there (Google AdSense, Amazon Affiliates, Commission Junction, Flex Offers, Click Bank, etc.) and they allow you pick from thousands of different products in your particular niche. Of all the passive income ideas, this idea is truly “passive” because as people click on your ads money drops into your account, you don’t have to do anything at all. I will show few lucky people my exact affiliate marketing secret here.

3. Free-Lance Writing

If you really like writing blog posts, or just like writing in general about certain topics, you could always sell your services to people who need some good content for their sites. Sometimes offering to write for bigger blogs and publications can help build up your reputation which will then help you command better and better rates. If you are a good writer, you can make huge profits in the form of residual income by publishing resourceful articles on shared revenue sites such as Squidoo and Hub pages. Your article will be monetized with contextual links, and you can include your affiliate links, too. Each time a reader clicks on the contextual ads or buys a product through your affiliate links, you will make money. And this can continue for a very long time. you can check here to see my complete guide about Fiverr and freelancing

4. Rental business

Rental business is one of those businesses that work very well in Nigeria; it is a great source of passive income. You can start a rental business.

Rental business is most suited for workers and employees, people who have little time to commit to their business. It is very easy to keep track of your income without worrying about anyone stealing from you, plus you have enough time to do other stuff while your business grows. Read this full article on how to start rental business in Nigeria.

5. Network marketing

Going by the very definition of passive income, network marketing is a classic example. This is because you build your network once and that network works for you, generating money for you even when you do practically nothing.

The major problem with network marketing in Nigeria is the way many people go about implementing it. Most people focus on introducing more people to a network without properly training their downlines or providing them any support. The result is that only the experienced people at the top of the network make money while the others feel their way in the dark, wondering which step to take.


Conclusion

Yes, you can make money while you sleep. These passive income business ideas are all very effective and lucrative. You would need to spend some time, effort and resources creating your residual income streams, however. Once you have your system set up, you’d be amazed at how your finances would change.


Source: See For More Super Tips

3 Shares

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by alignacademy(m): 8:09pm On Jul 19, 2018
loverboys:
...With a passive income earner, you will continue to make money even when you are sleeping or on vacation. Your active participation isn’t involved. Passive income comes in the form of dividend, bonus, capital appreciation, rental income, royalties, etc.

Thanks for sharing
Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by frankobaba(m): 8:10pm On Jul 19, 2018
Yes Oooo
Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by Trendy247: 8:10pm On Jul 19, 2018
Crypto trading is the easiest way to make it in naija right now, but no one will talk about it here

13 Likes 4 Shares

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by Jethrolite(m): 8:10pm On Jul 19, 2018
Why the constant repetition of the same ideas. You pasted definition of passive income but went on to list activities that will stop bringing money the moment you stop paying attention to them.

How do you expect serious people to take you seriously?

45 Likes 1 Share

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by MANNABBQGRILLS: 8:10pm On Jul 19, 2018
Hoping the youths can learn something from this......

1 Like 2 Shares

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by Nobody: 8:10pm On Jul 19, 2018
Uhmm
Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by b0rn2fuck(m): 8:10pm On Jul 19, 2018
I don't even understand all these, and since I'm not withnessing any genuinely information from neighbour that could lead to transformation always made me feel the article aren't meant for Nigeria

1 Like

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by lawrence35(m): 8:11pm On Jul 19, 2018
Under affiliate marketing, try dropshipping.... Very Good n profitable...




You can now work for yourself in Nigeria and earn good money online.


Do you....

Write,
Build websites,
Make logos,
Design apps,
Etc


Sign up at www.cpahub.pro to get gigs and get paid.

3 Likes

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by Kingcesar: 8:19pm On Jul 19, 2018
Nothing can be profitable as far as this current administration is in power! Wre money to buy data I heard they want to make 1gb more expensive than the phone that actually uses the data cool.



Get your PVC

6 Likes

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by BIXYBABE(f): 8:19pm On Jul 19, 2018
ok
Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by seunlayi(m): 8:20pm On Jul 19, 2018
Let me see
Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by AfuyeColony(m): 8:21pm On Jul 19, 2018
Please who in this forum know about aim global? Is Aim Global real?
Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by HolyBranches: 8:22pm On Jul 19, 2018
Same old same old.

3 Likes

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by 4601CE(m): 8:24pm On Jul 19, 2018
Same poo

1 Like

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by Luukasz(m): 8:24pm On Jul 19, 2018
MANNABBQGRILLS:
Hoping the youths can learn something from this......
If you were learning from this stuffs you won't be so jobless to be jumping from one thread to another seeking for cheap likes, shares and attention.

28 Likes

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by nigeriantalk: 8:24pm On Jul 19, 2018
Ok
Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by OboOlora(f): 8:27pm On Jul 19, 2018
WTF is this bull$hit?
I have seen similar post like 40times on front page.
Bollocks!

11 Likes 2 Shares

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by salaboiz(m): 8:28pm On Jul 19, 2018
What of Yahoo.

2 Likes

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by karlboss: 8:29pm On Jul 19, 2018
Trying my hands on blogging

1 Like

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by MANNABBQGRILLS: 8:40pm On Jul 19, 2018
Luukasz:
If you were learning from this stuffs you won't be so jobless to be jumping from one thread to another seeking for cheap likes, shares and attention.
More of the reason you may not progress in life.
Talking to people that can change your life in one hour anyhow.
That is how favour and blessings will always run away from you and our likes in life.
Your life will be a little better if you learn to mind your business in life.
You hate who is far more better than you in life afterall....so not suprised.
Learn to make extra cash online and live a better life for yourself and family.

2 Likes 1 Share

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by soath(m): 8:41pm On Jul 19, 2018
I know the above is meant for those with jobs or one/two line of income but fresh graduate with practically nothing may find it difficult to embark on any of the above. My point is adding ventures doable for guys like this.

You may try...

1. Private tutoring. It can be academic or skill-based. Make black-and-white fliers, post it on your social media pages.

2. Photography. I really can't say much here.

3. Social media account manager/Influencing

You can add yours.

Thanks.

6 Likes

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by Oceannaagent: 8:43pm On Jul 19, 2018
Same thing everytime, also made front page last week.

Have you considered investing into something, if mot there is an opportunity for that. Check my signature for details

3 Likes

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by donemitex1: 8:46pm On Jul 19, 2018
If you want to make passive income, Network marketing is your best bet. I am a living testimony. Although it has been bastardised in Nigeria by hungry and inexperienced network marketers who are only interested in your sign up, after which they leave you high and dry with no training whatsoever. Network marketing is all about duplication, you must be able to pour out yourself into your downlines so that they can do exactly what you do or even better. That is when the income becomes passive income. Passive income is an income that comes to you whether you are there or not. It is the quickest way to create wealth. If you want to learn more on how to duplicate and succeed in your network marketing business check my signature.
loverboys:


5. Network marketing

Going by the very definition of passive income, network marketing is a classic example. This is because you build your network once and that network works for you, generating money for you even when you do practically nothing.

The major problem with network marketing in Nigeria is the way many people go about implementing it. Most people focus on introducing more people to a network without properly training their downlines or providing them any support. The result is that only the experienced people at the top of the network make money while the others feel their way in the dark, wondering which step to take.


Conclusion

Yes, you can make money while you sleep. These passive income business ideas are all very effective and lucrative. You would need to spend some time, effort and resources creating your residual income streams, however. Once you have your system set up, you’d be amazed at how your finances would change.


Source: See For More Super Tips

1 Like

Re: Tired Of Being Broke? See How To Earn Passive Income In Nigeria by Nobody: 8:55pm On Jul 19, 2018
Look like a sponsored post to me

4 Likes

(1) (2) (3) (Reply)

Aliko Dangote Builds N1.2bn Business School In Bayero University Kano / 4 Reasons The Rich Keeps Getting Richer - How You Can Join Them / Brief Profile Of The New Board Members Of Etisalat Nigeria

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2020 Oluwaseun Osewa. All rights reserved. See How To Advertise. 109
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.