The global economy is experiencing a mild recession. Thus, people are finding ways to make ends meet via entrepreneurship, self-employment, and contracting. Students partaking in higher education find it even more challenging while doing a job side by side. Balancing studies with a job can be quite tiresome. And failure to achieve equilibrium can lead to underperformance in both aspects. That said, starting any business, preferably small, is a worthy alternative to make some extra bucks.
Having a side business can be fun if it is an extension of a hobby. It offers a greater degree of flexibility in comparison to full-time or part-time employment. And most importantly, it can lend some quality hands-on experience as you continue to study. And people with an entrepreneur; mindset would realize this better than anyone else. With the right attitude, they can leave an everlasting mark on the market.
Many successful entrepreneurs started in their college days. An out-of-the-box approach and perseverance led them to success. If you are still in college and want to create a small business for any reason, here are some ideas for you.
- Mentoring and tutoring service
Whatever skills you have will always be marketable if you take the right steps. When done correctly, you can use these skills to bring in some well-needed cash on the side. You can focus on your academic strengths and offer your expertise to students or individuals struggling in the same field as yours. Sure, there are many mentoring programs in colleges and universities already available to students. You can take an independent approach to cater to a broader audience. For instance, if you are doing an online mba, you can mentor business students at the undergrad level or teach subjects like mathematics and accounting to high school students. Always charge a respectable amount of money; you don’t want to come off as unaffordable to others. And try to balance your mentoring hours with your study life.
- Video creation and animation
Do you have a knack for creating short animated videos? If so, then starting a side business as an animator or video creator is a good option. Thanks to various online video platforms, especially Youtube, it is one of the most profitable business ideas.
As a student entrepreneur, you can start by creating short, low budget videos for other offline and online businesses. You can also upload stock footage for quick bucks. All you need to start this business is a video camera, a computer, and a microphone. It is a relatively low investment business idea that is perfect for students who have an eye for creative details.
- Delivery service
Delivery service is an excellent idea for student entrepreneurs in the fast-paced world of today. You can start solo and gradually hire people to manage tasks as workflow increases. You can cater to various needs such as pick-up or drop-off, delivering food items, or even dropping off groceries at home. Focus on offering your delivery services to the elderly who can’t do everyday tasks on their own. Or professionals who don’t have the time to pick up their dry cleaning.
Create a simple website and keep the interface basic. You only want people to click a few times to hire your delivery services. No need for fancy infographics, images, or videos. Charge a margin of 20 percent of the total cost and ask for cash when you arrive at their doorstep. Also, do not forget to market your delivery business on all social media platforms and through word of mouth. The more people know about you, the more likely they will hire your delivery services.
- Freelance blogger or writer
In the highly competitive freelance market, the requirement for writers and bloggers is at an all-time high. It is a lucrative business, especially for individuals who wish to provide copywriting services to large commercial organizations. However, not merely writing, but writing quality content will pay well.
As digitalization increases and businesses realize that they require high-quality content to market themselves online, there will always be a need for your skills. Plus, various online writing platforms such as Upwork allow you to sell your services to a global audience. All you need to do is upload your resume that highlights your copywriting skills. Also, to know the amount of cash to charge for your services, you can look at other writers and compare the amount of money they are charging on an hourly basis. It will allow you to get the best worth for your work.
Be it for personal satisfaction or making ends meet; having a side business is always a plus. Not only will these business ideas help to pay off your student loans, but they will also help you polish your professional and entrepreneurial skills. Learning how to market oneself is essential for professional growth in the long run. So, if you’re tired of your job, still need money to pay tuition fees, start your own business now. Why be a corporate slave when you can be your own boss?