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Entrepreneur's Corner

Dear Entrepreneur, Here’s How To Make Money And Become Millionaire In 2023

BY Getrude Mathayo · January 12, 2023 03:01 pm

KEY POINTS

You can make a killing by becoming a YouTube vlogger whereby you earn money based on the advertisements displayed on your vlogs.

All you need to do is open up a YouTube channel, look for the right content and market the channel to get subscribers.

KEY TAKEAWAYS

With a soaring unemployment rate in Kenya, most people have opted for the internet to make some money online in Kenya.

Even those employed are constantly looking for other ways to supplement their incomes, and working online has become a common way to earn that extra shilling.

Entrepreneurship is a major element of the Kenyan spirit. Indeed, a drive across the republic reveals a capitalist economy filled with hawkers, jua kali artisans, fish mongers, thriving open-air markets, matatu operators, plot-for-sale signs, factories, commercial tracts of lands, and many pointers of a market economy.

Most Kenyan businesses are small and medium enterprises requiring relatively little capital to establish. The current tough economic conditions in Kenya require one to be extra smart to put an extra shilling in the pocket

Many people are looking for ways to get their first million or ways to invest for a better retirement. Some are trying to succeed as entrepreneurs. People want to have enough money to buy beautiful homes, powerful cars, and great vacations.

With a soaring unemployment rate in Kenya, most people have opted for the internet to make some money online in Kenya. Even those employed are constantly looking for other ways to supplement their incomes, and working online has become a common way to earn that extra shilling.

  1. Vlogging/YouTube

You can make a killing by becoming a YouTube vlogger whereby you earn money based on the advertisements displayed on your vlogs. All you need to do is open up a YouTube channel, look for the right content and market the channel to get subscribers.

  1. Develop property or invest in land

Buying, developing, and selling property has always been a major way for people to accumulate capital. A Kenyan can buy land in an upcoming suburb cheaply and sell it for a profit to real estate developers.

  1. Freelance Writing/ Online Writing

This is simply the best area you can make a good amount of cash from. There are several online academic and article-writing platforms. You can make over 1,000 shillings from such writing platforms. You can also open up a blog or website that runs payable ads.

  1. eCommerce/Dropshipping

eCommerce is the selling and buying of goods and services over the internet. The industry is booming, and the easiest way you can start is via drop shipping.

This is a fulfillment method where a store does not keep an inventory of the items it sells but instead purchases it from a third-party supplier who ships the item directly to the customer. The store owner does not see or handle the product.

  1. Tours and Travel

Domestic tourism has become a major part of Kenyan culture. Amid the growing market, there are numerous business opportunities for travel and tour operators. Most companies in this industry work with hotels and airlines to organize tours in major tourism centers

  1. Massage Services

More Kenyans are turning to massage therapy to improve their mental and physical health. Spas are coming up in most residential areas, but numerous clients and families do not have the time to visit the spa

  1. Office Lunch Deliveries

Kenyans have increasingly returned to the physical working system after the global pandemic. However, many workers often work in office blocks or stations with limited options for buying meals. If you happen to know a few office blocks with such challenges – here could be a business idea.

  1. Web Designing/Development

This is also another online lucrative venture only if you are tech-savvy and know how to professionally design websites. The cost of designing a website varies depending on factors such as complexity.

  1. Cutting on expenditure

One of the quickest ways of becoming rich is by cutting expenses, especially luxuries. Spend strategically. Kenyans who want to be rich need to live a minimalist lifestyle where they live within their budget and avoid unnecessary expenditures.

  1. Become a Virtual Assistant

Becoming a virtual assistant is one of the decently paying online work. A virtual assistant is a person that works remotely for other businesses that become their clients. This is a self-employed individual with various skill sets that they use to help other businesses run smoothly.

  1. Start a Podcast

With most people becoming busier than before, they are searching for passive ways to get content. Lately, podcasts have become trendier and can offer you an opportunity to build an audience and earn money from them.  You can start and stream it live on YouTube, sell your products or find traditional sponsorship.

  1. Become a Social media influencer

If you have a massive following and a huge impact on the actions and opinions of other people, you can become a social media influencer and earn money online.

Brands pay a social media influencer to promote products and drive sales. You will also bring new customers on board, share brand content, and offer testimonials.

Related Content: Dear Entrepreneur, Here Are15 Signs You Are Mentally Strong

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