Just few weeks ago, a friend approached me and asked can I help him with viable business ideas in Nigeria? I wasn’t surprised that he asked me because most of my friends know me as a business oriented person.
But I did not go ahead to start listing the number of business ideas in Nigeria I know. I really wanted to understand what he really meant. So, I asked back, what really do you need or really mean?
It was then he told me that he needs business ideas in Nigeria that are not saturated or that have not been discovered by many. It was at this point I smiled and asked him, what about telling you a business idea nobody knows about?
Out of excitement he shouted, that is exactly what I want. He continued, if you give me such an idea my financial situation will change for good. In fact, before people will know much of it I must have made so much money. I saw the zeal in him to be the first person to start a particular business in the world.
Then, I further asked him; do you know the difference between an inventor and an entrepreneur? He answered by saying, inventors are those that discover things for the first time in life, while entrepreneurs are business people.
My question to you my dear reader is, is my friend right with his answer? I know you’re here to get answer to your own investigation, which are business ideas in Nigeria.
Bear with me and read on because I will definitely give you simple business ideas in Nigeria that you can easily make millions from. But before then let us clearly understand the difference between inventor and entrepreneur.
Who is an Inventor?
According to wikipidia, and inventor is a person who creates or discovers a new method, Form, device or other useful means of doing things. With this definition, my friend was unknowingly talking of becoming an inventor.
[Also Read] Latest Online Money Making Opportunities in Nigeria
Bad News:
Inventions don’t make inventors rich. Most inventors died poor. That was my words to my friend and he became shocked.
I went further to list some great inventors that died very poor, such as Charles Goodyear the inventor of galvanized rubber. Antonio Meucci was the inventor of telephone and he equally died poor. He asked but why?
Before I reveal to you my answer, which is why most inventors die poor, let’s understand who is an entrepreneur.
Who is an Entrepreneur?
According to investopedia “An entrepreneur is an individual who, rather than working as an employee, founds and runs a small business, assuming all the risks and rewards of the venture. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services and business/or procedures”.
Read more: Entrepreneur https://www.investopedia.com/terms/e/entrepreneur.asp#ixzz5J3PVu8Qe
from the definition above, I want you to take note of the word “innovator”. An innovator is someone who gets a new idea of doing something.
In other words, an entrepreneur is not interested in creating new things; instead he is interested on working or improving existing things.
I know you are interested in getting new business ideas in Nigeria. With the explanation above, I expect you to start thinking on how to improve on the existing business ideas in Nigeria.
Yet, I will not provide you with list of business ideas in Nigeria without telling you why most inventors die poor.
Why Most Inventors Die Poor:
Of a truth, being an inventor is not curse. Neither is it bad to be an inventor. But the reality is that most inventors are not marketers or sellers. Yes, no matter how great your invention is, you need to market it for it to gain public acceptance.
So, because they can’t market their invention they hardly make money from it. The second reason inventors die poor is that human being hardly embrace change.
At first, most people are usually skeptical of buying new inventions. They are usually comfortable with the one they are used to. So, before people will embrace the inventions, the inventor might have died.
Good News
Entrepreneurs make much money from the inventors. They know how to market every product till people accept it. They take the risk of pushing the product even when it is new.
The greatest part of entrepreneurs is that they are innovative. This means that they know how to add value to existing product. Some year ago, business men and women were tying water in small white polythene bag and sell for one Naira.
After some time, an entrepreneur came with the idea of sachet water and it goes for five Naira. Till date, almost every Nigerian buys sachet water daily.
Another good example is the revolution that took place in the social media product. Before Facebook came into existence there were more than 500 social media networks. In fact, only few people know about social media networks.
Mark zuckerberg who is the founder of Facebook and entrepreneur asked himself several questions such as:
- What can I do different from what other have done to get this thing known to people? In other words, how can I repackage this social media business?
His quest in providing answer to his question lead to the birth and prosperity of Facebook today.
Business Ideas in Nigeria – Are you ready?
Are you ready to ask yourself question on how to improve on existing business? Because there is nothing new under the sun today, therefore you should be thinking on how to innovate new idea of marketing or improving on the existing business.
As I said earlier, all the business ideas in Nigeria today that I will list below are not new. But you can re-strategize and make millions from them. Below is the list of the hot business ideas in Nigeria
- Travel agency company
- Ice cream production
- Biscuit production and marketing
- Palm oil plantation, production and marketing
- Fashion designing company
- Solar and invatar company
- Security training company
- Hair stylist company
- Online store business (like the likes of Jumia and Konga)
- Wine production company
- Party management business
- Laundry services
- Video and photography company
- Pharmaceutical company
- Trustworthy network marketing
- Electrical supply and services company
- Automobile rapairs and fleet management services
- Car hiring company
- Catering services company
- Computer training/ICT center service company
- Party rental services
- Mobile phones repair company
- phone/laptop selling company
- Mobile toilet company
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Blogging (if you know how to write)
- Information marketing (if you have valuable information Nigerians could pay for)
- Freelance writing for website owners and news sites
- Scool uniform making company
- Modern bread making and marketing company
- Day care services company
- Pet breeding company
- Modern block industry company
- Branding consultancy company (if you know a lot about branding)
- Management consultancy company (if you know a lot about business management)
- Affliate marketing business (selling other people’s products online)
- SEO consultancy company (like my friend at VTN Company)
- House paintaing company
- Tie making company
- Cooking gass supplying company
- Soap manufacturing
- Just add anything here
- Frozen food sales
- Online business
- Turkey farming business
- Used car sales
- Importation business
- Bulk SMS Services company
- Waste management services
- Animal feed production and sales
- Software and game development
You can start any of the business ideas in Nigeria mentioned above with little capital and grow it big. But you must observe the two fundamental principles of doing business, which are:
- Know your business
- Learn how to sell or market your product.
Good Luck as you move into the business world through any of the business Ideas in Nigeria found here.
