Starting a business in college is one of the most difficult things you will do, but it is also the best time in history for young people to start a business.
In college, you also have the gift of time and research facilities on your side.
If you are reading this, you may be thinking of running for an idea you’ve been thinking about for months.
It can be daunting at first, especially when it comes to separating from money.
But, I can assure you, in years, it will be something you won’t regret.
First things first.
If you are thinking of starting a business, it means that you have an idea and, most likely, this product or service is already available and is already on the market.
But that doesn’t mean it won’t be a future billion dollar company.
The most successful companies generally enter the market in second place and learn from their competitors’ mistakes, and market validation is an excellent way to save their two most valuable resources: time and money.
If you have evaluated your competitors and still believe you have a significantly different and better product or service, then it is time to plan the business in a feasible way in which it is easy to evaluate each area of the market.
You will soon notice that there are a number of problems that you will face in the early stages of configuration.
Whether for lack of capital, knowledge or support, if possible, quickly prioritize what is required.
Some questions I am regularly asked are: “How did you get funds for your idea?” And “I have a great idea, how can I get it too?”
Capital investments very rarely (almost never) invest in ideas.
Funding goes to entrepreneurs looking to start a business, which means they have already spent their money trying to make their idea come true.
It also depends on the same question: if your idea is so good, why don’t you pursue it yourself to maximize your performance?
If you take your business seriously, evaluate your market, create a small business plan and then get additional capital (through friends or family, crowdfunding or a bank loan) to realize your idea.
In fact, it is also possible to access university business loans.
Unfortunately, you or your idea will never be taken seriously unless you have at least tried to make it work with what you have.
The real challenge is this: you will have to do it with a minimum income while you are in college, to bring into play the true entrepreneurial spirit.
Below are a series of steps in starting an online business.
Let’s dive right in.
Table of Contents
- Steps to Starting a Successful College Business
- Create a Customer Base
- Build an Economic Prototype
4. Create a Simple One Page Website
5. Create it Until You Get it Correctly
6.13 Business Ideas For College Students
1. Steps To Start A Successful College Business
Starting a business is an acquired skill and success is an available option.
But like any trade, you have to win your market with the right set of tools and mindsets.
Before we get into the boot details, let’s first give a little context.
While some sectors of the economy show signs of improvement, the job market remains a real nut, especially for young professionals: the unemployment rate of Americans between 16 and 24 exceeds 16%.
Regardless of whether you want to work in the corporate world or be your own boss.
Figuring out how to start your own business will likely be a useful skill as we move towards an ever stronger independent workforce (expected to reach 70 million by 2020). .)
And for college students who can use school networks and resources to enhance their business ventures, it may be the best option and use of time.
2. Create a Customer Base
Starting a business is actually quite simple; It takes a lot of work, but many things worthy of research require work.
Besides having an idea, the first thing to think about when starting a business is who is my client?
If you have a client, then you have a business.
That doesn’t mean it’s going to be big business, but the nature of building a business is to create customers.
How are the customers?
You need a product to sell and try on.
One of the biggest mistakes young entrepreneurs make in the beginning is spending too much time building a product before trying to sell it.
UNDERSTAND THIS: As a small business, if you don’t have sales, you don’t have a business.
Therefore, it makes much more sense to FIND sales before investing a lot of time and money in developing a product that someone might or might not want.
Sell first, build later.
3. Build an Economic Prototype
The easiest way to test a product is to develop an inexpensive prototype.
Most people think of a prototype as the product itself that has to be produced by a factory or, in the case of software, coded by a developer.
While having the real product you are trying to sell on hand definitely helps communicate the appearance of a product, it is not always necessary or feasible.
As a general rule, most people can understand the basics of a product through a simple brochure, which can act as the first product.
A tear sheet containing a product photo, a slogan and some key sales attributes that differentiate your product from others is a great way to communicate profitably what you are trying to sell.
The next step is to introduce it to a group of relevant buyers.
Take stockings as an example (a type of company that I have initial experience with).
If you have an idea for a fantastic sports sock, look for a graphic designer on Fiverr.com and find people who can digitally create the sock you want to make.
Then, design a PDF that shows some images of the sock highlighting its unique features.
Make sure to include three to five key points on the sock that you think will differentiate you from what is currently on the market.
Finally, include your company’s website and a contact method, such as your email address and phone number.
If you create a convincing booklet, people will want to follow it for more information.
4. Create a Simple One Page Website
Create a simple website on Wix.com or shopify.com following the same pattern as the brochure.
(I built a similar one-page site for my secure business that only cost me a few hundred dollars.)
The only additions you will want to make are to include a video of the founders that explains more about the product and its vision for the company, and a space on the site that induces people to act, that imitates the purchasing behavior, both that by having customers send their e-mail address via a form (use woofoo.com for e-mail collection) or by clicking on the “buy” button which leads customers to take note of where they are developing the product.
As long as people do not charge money for a product every contact after the show, via personal email or via an email marketing site like mailchimp.com.
Stay in front of them once a month during the production cycle.
The second method of putting your product in front of many people is online.
Instead of paying for expensive cost-per-click marketing campaigns, it is better to use various forms of social networks like Facebook, Instagram and Twitter to spread your message.
Engaging content with photos and videos sent once or twice a day is generally a good way to generate followers.
And the best way to profitably promote a product is through a blog.
Go to Google and search for relevant blogs related to your product.
Search for three or four with whom you want to communicate and send e-mails to senior blog publishers about your company and why you think it may interest your readers.
REMEMBER: anyone who has a blog needs content; Without it, they cannot exist.
The best case is that they make a story or publish about you, generating traffic on your website that you can analyze and for which you can extrapolate the sales data.
You can also establish a connection with bloggers for a future role on your product once available.
5. Create it Until You Get it Correctly.
The use of these tactics within two or three months should be of great help in creating consumer data about your product.
If you get enough positive sales and commitment data with the customer, you can start approaching manufacturers to create small batches of product samples at minimal or no cost so you can see the product live.
With the correct connections and sales data on why your product will be successful, many manufacturers will have the opportunity to produce some samples so that you can build a larger market for your product, and perhaps also gain interest from investors.
Alumni networks are excellent for finding relationships that can help you in production and other processes that can generally take a lot of time and capital.
If you are involved in entrepreneurship and work diligently, the whole process could take two to three months and cost a few hundred dollars, a fairly low cost to start a business.
Keep testing your ideas this way until you find something that catches your attention.
If the typical university experience is four years, with a total of 32 months in school, this would allow approximately 10 potential businesses that you could evaluate before graduating for a few thousand dollars, only a fraction of the cost of tuition.
One of these will definitely work.
Trust math and trust your ability to succeed!
6. Business Ideas For College Students
Blogs can offer great opportunities to college students.
You can choose a topic or niche that interests you and work to build an audience at your convenience.
Starting a blog can provide you multiple opportunities in earning income.
1) Affiliate Marketing
3) Sponsored Posts
4) Selling Online Courses
5) Coaching Consulting
However, even though starting a blog about something you are passionate about is good.
It does not always equal money.
When starting a blog, you want to make sure you have a market and the topics are being searched.
If you want to learn more about blogging, I HIGHLY recommend CreateandGo.com.
They teach bloggers how to start, ways to drive traffic, and ultimately hit 6 figures per year!
In fact, these 2 are currently making an average of $150,000 per month with their 2 blogs.
I am currently in 3 of their courses and the support is amazing because they give you access to a Facebook group of other bloggers.
They are also there answering questions.
They are very down to earth people who really want to help people out.
If you subscribe to my blog here, I will keep you all updates on how things are going so far.
I always have said that if I am going to learn something, I want to learn from the best.
Createandgo.com is the best blogging website to help others start blogging and earn money.
2) YouTube personality
YouTube is an excellent platform for building a business.
You can earn money through advertising revenue or work with brands as an influencer.
This is another stream of income I am investing in.
I currently invested into a Youtube channel automation course of $300 to help me start and scale multiple channels to make money.
YouTube is probably one of the best businesses to get into.
because about 90% of people on YouTube are consumers (meaning they go on to watch videos) and the other 10% are producers (meaning people who create the videos people watch).
Subscribe to my blog and I will keep you updated on my progress.
I like giving my readers FREE tips on courses that I am investing in so that you can learn new information.
3) Social Media Manager
For those who have a good knowledge of social networks, you can offer your services to companies that need help managing their social media accounts.
This business idea is in HIGH demand and you will definitely find opportunities to scale this business.
As we continue into a digital world, more and more people are starting their online businesses and need help with social media.
Many business owners have so many things to juggle with in moving their business forward.
But if you can come in and assure them that you can manage their social media accounts and bring in customers, they will keep paying you.
Smart business owners understand that without customers (or traffic) they are not a business.
A business without customers = no money.
No money = closing down the doors.
4) Graphic Designer
If you have some design skills, you could start a business as a graphic designer, working on logos, brand elements or other designs for customers.
People suck at designing and they would rather give the work to someone who specializes in this.
In fact, my partner (my girlfriend), is a graphic designer and within her first 2 weeks of starting Fiverr.com, she has made $200 making simple designs.
If you haven’t heard about Fiverr.com, go to my review here and learn everything there is about it.
A step by step guide.
5) Web designer
Web designing is difficult.
I literally want to pull my hair out and smack my head on the table at least 2-3 times when I am trying to design my website.
Okay, I don’t actually do it, I just want too.
But see, if you are great at web designing and can solve my problem, I am more likely to give you my money.
I don’t want to spend time learning how to design everything, so I would prefer to give this task to an actual web designer.
You can easily charge $200 or more per website for designing.
6) Application Developer
Or, if you are really skilled with mobile technology, you could start a business by developing mobile applications for customers or even create your own and sell them in the app stores.
In fact, people can charge up to $30,000 or more for apps.
If you are good at coding, then you should definitely start an online business and get more clients to pay you.
Kristen Faulkner started her photography business during her senior year at university. While photographing interesting things and people started as a hobby for her, it has since naturally become a small business.
Tips for starting a photography business:
- Take great photos, post them on social media and constantly let your followers know that you are available for hire.
- Focus on producing a lot of content and growing your community.
- The more eyes you have on your photos, the more business opportunities will be presented to you.
- Never be satisfied with your current level or experience.
8) Direct Shipment
This is a simple and almost risk-free business.
Basically, a direct shipping business is a product-based business without the product.
You are the intermediary: you sell products online, directly from the producer to the consumer.
Tips for starting a direct shipping business:
- Automate everything you can. This leaves less room for human error and frees up more time.
- Don’t just list items on Amazon, create your brand.
- At least 80% of the time spent in the company must be a form of marketing. The greater the traffic directed to your products, the greater your growth will be when you are not working in the sector.
9) Create and Sell Virtual Products
There is a type of passive activity that does not require inventory or any supplier.
While this type of business is primarily dominated by writers and programmers, it is very similar to direct delivery.
Create a product like an application or an e-book, put it in a big market so that people can find it, then sit down and see how the money accumulates.
Tips for starting a virtual product business:
- Regularly update the product with new and updated information.
- Create your product for a specific niche. Specific products sell better than products intended to attract everyone.
- Someone who buys a virtual product is looking for immediate satisfaction or a quick solution to their problem. Do your best to deliver that answer as speedily as possible.
10) Editing Professional
Becoming an editor is probably the best business idea that you could start in college right now.
You are around college students who are always writing papers.
Offering them a service to edit/proofread their papers will solve their problem of not failing because of their grammar and punctuation’s.
Tips for starting an editing business:
- Become familiar with the peculiarities of the teacher who will qualify the job.
- Limit the scope of services. You will be asked to write documents for your customers. Don’t do it. Here’s how you get into trouble. Be clear about what you are (and aren’t) willing to do for your client before getting started.
- Tell your friends about it so they can always keep you in mind in case they come across someone struggling with their essays.
If, like me, you’ve been an athlete since you remember, you’re in luck!
There are thousands of parents across the country willing to spend hundreds of dollars on someone to provide their children with personalized training.
Tips for starting a training activity:
- What is the average hourly training rate in your area? Do some homework to understand what is currently offered for your sport and at what price it is the best way to know how to evaluate your services.
- Never try to offer the cheapest service. Make your service more attractive by offering something unique or extra for the same price.
- Get your name wherever your potential customers go. Your church, local sports clubs and high schools are also great places to find customers.
12) Consulting Business
Consulting can be a gold mine for business students who want to work alone as they develop their real world experience.
For example, most current companies use social networks to market their services and all companies need to monitor their cash flow.
However, most small business owners are too busy to develop specialist skills in any of these areas. That’s where you come in.
Tips for starting a consultancy business:
- Choose an area of specialization and take as many lessons as possible on that subject.
- Practice with a respected organization in the chosen field to gain practical and first-hand experience.
- Provide more and more value than expected.
University is difficult. However, there is always at least one topic on which they naturally stand out. Why not earn some mentoring money on a topic you’ve already learned?
Tips for starting a mentoring business:
- Inform teachers who teach the chosen subject that you are available to help any student who needs help.
- You probably won’t earn enough to retire with this activity. Try to gain a little more freedom, not your first million.
- Be disciplined and clear with your schedule. Works mainly by appointment; Maintain strict “office hours” only for your best customers.
There are so many opportunities to start an online business in college.
Use your college degree and find ways to create streams of income.
If you are going to college for a certain major, then start an online business helping people with what you are learning in college.
That is why you are going to college right?
To get a college degree in something you are passionate about.
Why not use your degree to make money?
Why work at a fast food restaurant or a job that is completely irrelevant to your college degree to make money.
Think about it.
When you graduate college, your degree is not going to automatically give you a job.
You’re only going to get a job based on your relevant work experience.
Start an online business regarding your college degree.
You are killing two birds with one stone by starting an online business that is relevant to your college degree.
This gives you relevant work experience and you are making money to pay the bills instead of some irrelevant job that isn’t providing you any valuable skills.
I hope you enjoyed reading this post and if you have any questions please leave them in the comments below.
I answer all questions and comments within 48 hours.