Student life can be tough when it comes to financial needs. And to add up the covid 19 pandemic has taught us a lesson in life that nothing, in reality, is secure so at some point thinking to start a business as a student is nothing wrong to go with.
Student life is a phase where life can be even more complicated to deal with. juggling through your studies, making new friends, running your needs on a budget, reminds one how important an income source is.
Now if you want to start an online business as a student to earn or even think to have that extra cash in your pocket to get through that study phase of your life, starting an online business while in university could be exactly what you are looking for.
So in this post, we want to share what we learned on how to start a business without money.
what we are going to cover in this blog:
- What to consider before starting an online business.
- Best Service Business ideas for students.
- How to pick your service business.
- Trade your time in developing skills.
- Analyze your business.
Now the tips we are going to share with you today build off of one another, so make sure you read this entire post so you completely understand what to do. Let’s get started
1. What to consider before starting an online business?
Before beginning to start a business as a student you must think about a few things that are going to affect your life for real. After going through the listed things it might give you an idea of how big you should aim for alongside your studies!
A.Start a Service Company
You must be thinking now why service business well. As a student there are already various factors that are at our disadvantage and then thinking of selling a product will make things even worse.
From where you will arrange the money to manufacture a product, doing market researches, doing promotions and all that is something you will never love to do initially it’s such a pain in the head right,
so the first step we would like you to take is starting a service business. Now if you are wondering what service business means then service business refers to the selling of intangible value,
For example– You are a graphic designer and you can offer services for designing logos, designing websites, a financial consultant can offer services on how to manage finance etc.
B. flexible hours of work
Flexibility lets you make mistakes and learn from them, now to start a business as a student from scratch has many phases but to get along with those without compromising your studies is one hell of a task.
So considering a business that allows you to have flexibility in working hours is a must. While school isn’t traditionally considered a “job,” it does take up 8 to 10 hours each day, depending on their extracurriculars.
The best business ideas for students will have flexible hours that will allow them to work in the evenings and on weekends.
C. focus on studies & Don’t stop learning
The biggest mistake or misconception one could ever make is to make studies their secondary priority, Don’t make assumptions that you can be the next successful high-school dropout as Zuckerberg.
“Always choose a business that is supportive, not a hurdle to your education”.
And by mean “don’t stop learning” the advice we have for people who want to learn how to start a business without money is to do exactly what you are doing now. Consume as much free content from reputable people from various platforms like youtube and social media.
Advice: When we talk about free content nowadays, experienced people try to drag you to their paid courses leaving loopholes in free courses or videos but you can always cover the loopholes by learning from multiple channels because there is never a single person teaching about a niche there are many others to learn from, same will be in your case.
2. Best Service Business ideas for students.
So here we are, now the ideas we have listed here are the most friendly business ideas for students keeping in mind all the considerations we talked about before, Let’s look at them-
A. Be a blogger
The first idea, I would suggest is to be a blogger, because as a student you will have a lot of things to learn and how about sharing what you learned. That’s where this business idea is the most amazing to go with.
You can create a website with very low investment and have access to that for a whole year in most of the plans and if you want to start free you can always go with blogger.com
Most importantly, always start with the niche you are passionate about loving your work is the key In addition, learn writing skills with low competition keywords you can learn how to create a blog here.
NOTE: Keep in mind, this business idea will take a little more time to turn a profit. First, you’ll need to grow an audience, and then you will have the opportunity to monetize your blog & partner with advertisers and affiliate partners to bring in revenue.
Let’s look into another promising part of the blogging line that is affiliate marketing
Affiliate marketing is a program which is an advertisement that you made as a third party for a company’s service or product and if any potential buyer makes a purchase through your advertisement link you will earn a commission set by the company as simple as that,
The greatest part of affiliate marketing for students As an affiliate marketer, you will advertise brands from a variety of firms while earning commissions from each one.
Now, what you will need is a website or a youtube channel or any sort of social media influence to make people tap on your affiliate link, if you already are a blogger you have the advantage here you can pick any product related to your niche and promote it. And yes people do buy stuff they need and if that’s from your reference you will earn money on that.
How much time to earn from affiliate marketing?
It can take some time to get to the stage where you will receive a consistent income from partner services. Typically, it requires anywhere from 6 months to one year to begin generating money with affiliate marketing for students.
B. Graphic designer
In the tech world, today representation is becoming a crucial factor creating a slick attention seeker polished image that has become more important than ever for businesses, NFT’s are killing the presentation game generating millions of dollars for the unique designs.
So what you can take away is a business opportunity from it. look your way through photoshop, take a few designing classes make an eye for the best possible design for brands.
- To conclude, turn your graphic designing skill into a freelancing business providing paid services to numerous businesses looking for graphic designers. You’ll have skill and experience and can charge significant hourly rates to do what small business owners can’t do for themselves—create awesome marketing graphics.
- This skill can be put to use for NFT’s as the metaverse is trending and rewarding quite a lot so you can also try your hand to built some unique graphic and they might sell off for the bonkers.
C. MARKETING COPYWRITER FREELANCE
Persuasive writing yes, marketing copywriter job is to write content that urges consumers to purchase a client’s goods or services. Copy is used in several media vehicles, including television, print and radio.
All it needs is good communication skills and the way of presentation to attract the consumer
In my opinion marketing copywriter is a creativity-based job so most of the students who are some sort of creative thinkers can start their first business as a marketing copywriter freelancer, in addition
The content marketing industry is slated to be worth a whopping $412 billion by 2021.
So you must know whether you are working on writing in-depth product descriptions or working on attention-grabbing lines for banners. as a freelancer due to high demand you know you’ll be earning a profit for your services, no matter what.
To keep it short a student who wants to start a business can choose from the above ideas if that doesn’t excite you there is more
- Youtube [teaching, vlogging, skill sharing]
- Social media management
- Language courses
- Data entry
- Online tutoring
Bonus: Online business success takes time and consistent learning. You as a student should never expect quick money inflows from your startups, give at least a year to your online business and never make compromises on efforts.
3. How to pick your service business?
After giving you some of the most profitable and student-friendly online business ideas now it comes to selecting your’s from the options.
This next step is very important because you are going to invest your precious time in that for a longer period right, so let’s look at what step you should take-
- Choosing an interest Starting business online is tough and to fuel you up in this long burning journey you need something that always excites you so make sure to choose a business idea you would love to practise even on weekends.
- Do your research, In order to make that idea a reality, you need to do your research to make sure the concept will succeed. Take your time to look through various aspects such as market environment, competitor research, and financial feasibility analysis.
- Get organized, When you’re sure that you have a good passionating idea to work with, it’s time to make a well-formulated business plan. Which includes your working routine for business, keeping studies as your first priority.
- Financial analysis, What we have talked about here is no money investment and that’s true you don’t need money to start a business as a student but when your online business starts growing there is a need of little investment to save your time and improve quality of your services so do research, save money on daily expenses and later on when you invest them in your business things will change for better. (for ex. Using money to use paid advertisements, hiring a freelancer for some special skilled task etc.)
4. Trade your time in developing valuable skills.
The 4th step is towards development and learning relevant skills. You will need to keep polishing your skills to survive in the long term and make a profit out of your business. Give your time in learning valuable skills that will help your business stand out from your competition.
The best way to stand out is to be the most knowledgeable about your industry and have the most technical skill around it.
It’s because when you have undeniable skills and knowledge developed, you will be able to provide more valuable and helpful content to people and it will develop more trust in you and your services.
And in 2022 it is not something that you have to pay for. Anyone can learn skills for free, even today I learn a lot from the most experienced people in my niche on various platforms like youtube, Instagram and forums like warrior, Reddit and quora.
THE COMMON SKILL EVERY ONLINE BUSINESS OWNER SHOULD KNOW IS-
ORGANIC DIGITAL MARKETING-
It is the most valuable skill online you could master and my friend YOU SHOULD.
There is no point in running a business if people don’t know about its existence right, and I know most of the readers are pretty aware of digital marketing so the added word ORGANIC simply means marketing without paying anything for an advertisement to make it more clear (SEO) search engine optimization.
And if you think what freelancing has to do with it then organic digital marketing doesn’t completely rely on SEO. Social media is also a part of it
It costs you absolutely nothing to post on social media, write comments, use hashtags, and send direct messages about your services.
And it costs you nothing to write a great blog or article around your industry that could rank higher in search engine rankings.
In addition, youtube is also compiled with SEO, organic digital marketing is a total strategy to drive traffic to your services for free.
Forums of your niche Reddit, quora you can start asking and answering people letting them know about your business services, these all organic marketing doesn’t cost you money alongside quality content and communication in your industry will provide you massive reach and brand awareness WITHOUT MONEY.
5. Analyse your business.
The last step of business and you should be proud of yourself if you ever reach this stage in your journey of how to start a business as a student. In reality, you made it to the 1%club.
Now it’s time for you to make thoughtful decisions for your career, after running your business for at least a year you have enough data and progress tracks to look at and make final decisions like-
Are you satisfied with what you do?
Are you passionate about it as much as you thought you would be? Yes? then
Are you earning enough to carry it on further?
Reinvestment needs in future?
Ask yourself and if you came up with yes, congratulations on your business success.
But hey you must not be in this stage if you’re reading this post right now, so I want you to learn about the psychological factor-EXPECTATIONS
What to expect-
- Things will not go as planned you will have to be flexible with your decisions
- You will be working without anything for return for at least 8 months to an year
- You’re going to work harder than you ever have before.
- Initially managing your studies and business will felt like a pain just remember (why you started )
- You will face direct competition. Building your business brand will take time and skills
- You can’t please everyone, Be ready for some hate while you climb up.
we hope we’ve been able to help you in some way. There are so many different student business ideas to open and we’re sure that yours will be a success!
So here I will rest my case on how you can start a business as a student and if you love it feel free to check out our other articles about business here. until next time😊.