Nowadays, college students are open to financial challenges due to high tuition fees and school needs. This is why starting a business that provides financial stability while in college could always be a path to follow.
Generally, students are at a phase in their lives where they have the freedom to explore new ideas and opportunities. This supports the common management strategy of failing early to achieve long-term success.
In 2019, Forbes reported a 19-year-old Northeastern student who built a million-dollar empire from scratch. This was a few years before they released their All-Star student entrepreneurs list.
However, if there is ever a perfect time for a student to start a business venture, it is now. Here is a curated list of business ventures that students can use to bolster their finances.
App/Web Development
Over the years, web app development has been a lucrative opportunity for students, especially those studying related fields. Nearly every business and individual entrepreneur needs a website.
The field of website development offers a relatively low barrier to entry, supported by many open-source tools available to developers. Moreover, there is still potential to create hundreds of new apps to solve everyday problems.
If you are a novice with no prior knowledge of app development, you can start with a beginner-friendly programming language. Then, you can take a few online courses and attend webinars that will improve your learning process. Eventually, you will start building simple apps that can solve basic problems.
Consultancy
Consultancy is one of the most delicate professions in the world of business. However, it only requires a few months of expertise and dedication.
Today, consultants are known for providing professional advice to people and businesses on how to improve themselves. They help set goals, create plans, and accomplish major aims for the coming years.
As a student, starting a business allows you to work with individuals and small organizations, developing your career in specialized niches. Coupled with a few years of experience, you can decide to go professional by becoming a career consultant or IT and technical consultant.
Design
Businesses and organizations frequently require graphic designers to develop visual branding for various applications, including signage and marketing materials. As a college student, proficiency in areas such as logo design, typography, and web design can enhance client acquisition and portfolio development significantly.
Additionally, launching a business in this field can help you decide on a major or educational path. Here are several business ideas in design:
- Graphic design
- Clothing and fashion design
- Software development and design
- Web design, and
- Interior design.
Freelance Writing
As a skilled writer, freelance writing can be an excellent way to earn money while pursuing your education. Over the years, channels and businesses have used freelance writers to produce scripts, content, and blog posts.
College students can gain valuable experience that will aid career development in the long run. Many platforms, including Upwork and Fiverr, offer secure environments for businesses and freelancers to connect and collaborate.
E-Commerce
Starting an E-commerce business is yet another option that can be easily managed in a store, dorm room, or office. As a student, you can easily create an online store with common e-commerce tools.
The key to having a successful business is to ensure that people will be willing to buy your products. Moreover, the e-commerce industry is now one of the fastest-growing sectors in the world. Below is a graph displaying the year-over-year increase in revenue of the e-commerce industry.
Social Media Marketing
As opposed to general beliefs, social media has outgrown its major purpose – communication. Today, they have helped businesses and entrepreneurs reach their desired audiences. If you have a little experience in sales marketing using social media, then you should consider starting a business in social media marketing.
As a student, you can create sponsored posts, infographics, ad campaigns, and other exclusive content to help clients achieve their goals. In the long run, you will also achieve your goal after improving your finances.
Tutoring
As a student, teaching should be one of the easiest ways to make money. If you are proficient in a specific subject, you can help other students by starting your own tutoring business. Your tutoring journey will only get easier when you work with related subjects.
However, here is the beauty of this profession. As a tutor, you can charge by the session or hour. Moreover, you can easily market this type of business within your school, at public libraries, or in community centers.
Conclusion
Furthermore, college students can explore any business in this list to cater to their financial needs. At the end of the day, you can launch a startup or provide expertise in various niches as a professional. This, on its own, sets a solid foundation for personal and professional growth.
