7 Opportunities to increase your streams of Income

We live in a time where vast opportunities to earn exist with just a matching level of ignorance to not embrace them. Having more than one stream of income is most necessary because when you work on something that has the capacity to pay you ten naira, it would not matter how harder you work, you will still get ten naira but if you seize the numerous existing opportunities to increase the amount of money you earn, you’ll well be on your way to probably fulfil that dream in your heart.

“Despite a voluminous and often fervent literature on ‘income distribution’, the cold fact is that most income is not distributed. It is earned” – Thomas Sowell
I find this especially true in this age where a fifty-year-old teacher could be earning thirty thousand naira monthly and a twenty-year-old income enthusiast could be making a monthly earning above a hundred thousand naira.

You can earn far above your present earning (if you earn at all) by taking the right step towards doing so and it doesn’t matter whether you know how to go about it, all that matters is that you are willing to know-how and you are here now.

Because you will always have needs which you can’t meet for free, it is pointless to think you are above or below earning (more) income, be you a student, (considered) underaged or “working already”, you may need this dose of inspiration.

So what are the ways you can have or increase income streams?

Fortunately, there are a number of ways you can do so, exposed in this article written in no particular order. You should explore any you find interesting.

Agribusiness

This does not require formal education in Agriculture or Food science or its likes. The only requirement is the determination which will sustain you as well as a basic knowledge on the part of agribusiness you want to do. You could engage in snail rearing, poultry farming and raising crops – which you can also engage in for a short term, raising seasonal crops like Maize in June/July and selling them.

Service Provision

This is one you can engage in during the weekends or within hours when you are closed from work. A student could set out time for this and make cool cash. You can render services like laundry/dry cleaning, car washing, sewing, babysitting/house sitting, driving at driving companies like Uber.com, tutoring specific subjects/courses like English, French or for preparatory examinations like SAT, JAMB (If you have what it takes). You could also privately coach people in any activity you are good at, such as body fitness, dancing, singing etc. You can already see possibilities are inexhaustible.

Suggested Read: 10 Businesses Entrepreneurs Can Do this Summer

Catering

You could start a small business (of which there’s no telling how large it could grow), rendering food services. If you are a lover of food and/or how they are prepared, or you just love seeing people happy, food makes them happy, so this is for you. Provide food and drinks like cooked foods, confectionery; chin-chin, cakes, chips and drinks like zobo and fruit drinks and get paid for your service. You can also supply to institutions like schools and companies.

Mini-importation

In a country like Nigeria, a fraction of the population prefer fairly used the property because it is cheaper and accurately said to be more durable. You could get involved in this business, buying gadgets from overseas and selling them. There’s knowledge here on this. Clothing is also good for importation and selling.

Blockchain and Forex trading

There are a lot of sites laddened with knowledge on these. They involve trading currencies. While blockchain which is becoming more popular by the day involves cryptocurrency; a digital asset designed as a medium of exchange that secures financial transactions, giving monetary profit, Forex trading involves trading foreign currencies and making a profit of it.

E-commerce

Apart from marketing your products over the internet and connecting with (potential) customers, thanks to technology, you can also sell services which can be called skills because they can be learnt such as programming, writing(reviews, articles, greeting card etc), designing(web, graphic and fashion), consultancy(on travelling, interior design, website etc). It would amaze you how much you can achieve and enjoy using the internet, beyond chatting and sharing jokes, memes, movies etc. There are so many online courses, free and paid that brush-up skills and give boldness to market your skill online. There are also many sites where you can intern or freelance like freelancer.com and upwork.com.

Selling Value

You can also sell whatever knowledge you have. Don’t panic. You do not need to be a professional or an expert at the moment but you can sharpen up, acquire more knowledge and be able to impact value. Ajulu is one of such youth I know learning more by giving value. It doesn’t always have to be “educative” like that from Yomī Akèns, it can also be entertaining like Lasisi Elenu. You can also compile the value you offer into an eBook or a podcast that you can sell, though your market will be as large as the followership you have created.

You can engage in one or more of these, and if you are doing some other thing, see how it can fit into one of these ways and make it an extra stream by which income flows in.

Kendra Okpara

Researcher, Content writer, Microbiologist

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