What online business can I start with 500 thousand naira


#1

Hello everybody, so I just got this 500k from my uncle and I’m wondering what to do with it online. I only have basic knowledge about coding. I’ve tried blogging and even got an adsense but the current income from it is nothing to write home about. So I need your advice on what to do with this 500k, at least to generate steady income. Thank you


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#2

Whatever you do, don’t do MMM. And honestly, internet businesses are usually high-risk so unless you really know what you’re doing, don’t play. Even those that know, they still burn.

Avoid the internet. Buy okadas and be happy.


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#3

laughing out loud


#4

T-shirt loading on Printivo.


#5

:thumbsup:


#6

Laughing out loud


#7

Niche Affiliate Marketing. Find a niche , do keyword research , create a blog with high quality content ,promote products on Amazon & get commission per sale.

You don’t need 500k to start. You probably wouldn’t spend more than 50k. But if you do everything right , your investment will be nothing compared to the ROI.


#8

Hi friend, no don’t go doing any Okada like stuff or biz for the sake of ‘playing safe’ . I believe you are a smart dude since you can code and even asking profitable biz to do.
The thing now is stay hungry(spend less), Get a job to stay alive and start googling /following tech startup sites(local and foreign) you will be surprised how many creative and lucrative startups are out there with proven models. Look up about 200 startups. Forget the big names. (I mean foreign startups oo). That can be replicated here. As Oo Nwoye puts it ‘do what will give you money from day one’ so avoid those fancy plausible startups that spend Investors money only. Look up startups that are natural and sustainable even without investors money because the make you money from day one.
Good luck my bro.


#9

Whatever happened to ‘LOL’? You guys (@Yemi @Olaar) are wasting storage space! :angry:


#10

Please get a good paying job and leave the survival level first


#11

Keep the N500k aside and think of a business you can bootstrap with your current skill, This is the secret of building a sustainable business, the 500K shouldn’t be capital but a working fund to finance your shortfalls.


#12

If you really wanna invest. carefully study any startup of interest in Nigeria that has potentials and invest. Its a 50/50 tin tho. Best of luck.


#13

Like 1kb? :slight_smile:


#14

OP, this may not sound sexy but take note!

Put an Okada on the street and try to turn a profit on a hire purchase deal while managing your hire. With the experience, my brother, you can manage most founders here.

Seek a faithful widow in church, with 70K you can set her up to manage a fruit kiosk for you, after sorting out for space at your street junction and council permit you may be out of 100K.

Put away the rest.


#15

little drops man… little drops. :neutral_face:


#16

You could try your hands on one of them sports betting franchises around.


#17

Heard you can setup👆for less than 100k and it’s quite profitifable.


#18

You sound like you have experience doing something like this. I’d like to hear about it.


#19

Radar’s 10 character reply policy


#20