It took me a long time to figure out that business is the key to the growing of wealth, consequently financial freedom.
I want to be financially good that I can retire at the age of fifty. As a result, I have decided to create at least more than six income sources. I currently have three sources of income they include, my government work, my blog and E-commerce. I plan on expanding my businesses by creating new sources of income.
The following are some of the profitable business ideas that you can start in Ghana now to increase your sources of income.
BLOGGING
Start a blog and make money online every month. Blogging is one of the most popular and lucrative online businesses today. It should be the first business idea to capitalize on if you want to start a part-time job. Many bloggers started blogging as a part time job and went into it full time when it became more fruitful in terms of monthly income. Start a blog by first buying a domain from Godaddy or Namecheap. Buy a hosting plan from Bluehost, Godaddy, Namecheap, Ipage, Hostagator, etc to start the blog or website. The hosting is like a warehouse to store a product. In this case, you will store your domain on that hosting plan. After buying your domain and hosting plan, go to your hosting dashboard and point the domain name servers to your WordPress. Customize your theme or template, and that is it, your website is now on. Start posting and promoting. After a month or two, sign up for Google Adsense and start monetizing your blog.
YOUTUBE
I did not start my YouTube channel early. I started blogging nine years ago but I started being active on YouTube in 2020. I will be an expert if I had started YouTube creation early. It is still not late to start a YouTube channel. It takes just one viral video for you to blow up on the YouTube platform. To sign up and create your YouTube channel, go to YouTube and login with your Gmail account. Create your channel and post a channel art. Keep posting regularly and promote it on social media platforms like Facebook, Twitter, TikTok, Instagram, Reddit, among others. Once you reach the monetization threshold, that is, the one thousand subscribers and four thousand watch hours time, you can apply to the YouTube Partner Program and be monetized. After you have been approved, you will start getting money on your YouTube channel. You do not need any capital to start a YouTube channel. You will only need money to start a YouTube channel if you want to promote it to reach the monetization threshold early.
SELL YOUR PRODUCTS ONLINE
Selling of products such as food, clothes, shoes, etc has been one of the oldest and common type of business in every country, city or town. People sell products everyday and people buy products everyday. Selling your products online is one of the new ways to get more customers for your company. I personally own a salon where I sell wigs. I also sell these wigs online by posting it on Instagram, TikTok, Twitter, Facebook marketplace, etc. I have made about fifty sales of my product just on Facebook marketplace. I also sell some of my products online on Jumia, Africa’s biggest e-commerce marketplace. Expand your reach by posting your products online and selling them.
WRITE AN E-BOOK
Are you a writer or author? and you hope to write a book someday?. This is the time to self publish your book without any money. All you have to do is to write your book. Get the write-up and go to Amazon Kindle. Sign up on Amazon Kindle, and publish your book by following the step by step process on the Amazon Kindle dashboard. Once your book is open on Amazon, start promoting it on social media platforms to generate sales. Are you an authority on a particular topic such as entertainment, beauty, clothes, hairstyle, cooking, writing, business, among others, it is time to put all that expertise in a book and make money from it.
E-COMMERCE
Start an e-commerce business. Setting up an online store is one of the ways to start a business with less than 500 cedis. You do not need a huge capital for this business. Actually, there is way to set up an online store in Ghana. Just go to jumia and sign up. List your products or items on Jumia, get orders, deliver the orders to the Jumia Warehouses, and wait every month for your money to be paid through your bank account. Jumia deducts the shipping and delivery fees so when placing a price for your product on the platform, factor in those charges.
START A RESTAURANT
I once chanced on a YouTube video where the creator was talking about how she started a restaurant business. Restaurant owners are one of the richest business people in any part of the world. People eat everyday at least three times, and not everybody cook their own food. At least, majority of workers buy their breakfast and lunch from restaurants. Start a restaurant if you have a capital of 500 Cedis. You do not need to have a place at first. You can start by getting orders online and delivering it at doorsteps. As you keep on making profit, you can now buy a place. Do not stop taking online orders even after setting up your own place where you sell your food.
SET UP A MARKETING AGENCY
Another way to start a business in Ghana with less than 500 Cedis is by setting up a marketing agency. We are in the technology era where almost everything is digitized. You can capitalize on this market by establishing a marketing agency where you design logos, develop apps for companies, develop websites, etc. If you do not have the required skills for the marketing agency that you have set up, you can drop service the orders that you get. Keep promoting your work on social media platforms like Facebook, Twitter, Instagram, TikTok, among others, and when you get an order, hire someone from Fiverr to do it for you, pay them and get the order, and deliver it to your customer. For example, if the order is about a logo design, charge your customer twenty dollars. Go to Fiverr and hire someone to do it at ten dollars. After you deliver to your customer as collect your twenty dollars.