If you are a student, you may be looking for loopholes in affording the many costs of college life. Amassing major amounts of student debt is a huge issue in many cities, leading students in the U.S. to struggle with loan expenses and financial management in general. Fortunately, you can alleviate some of these financial pressures by starting your own business.
When looking for ways to build your business as a budding entrepreneur and avoid an accumulation of student debt, it is essential to capitalize on the benefits that come with being a student. Not only can you utilize your expansive network of professors, student organizations, and like-minded business students to fortify your ambitions, but you can also integrate your coursework into your startup strategies. Generating any income as a young entrepreneur is a surefire way to help you pay your way through school, and here are 3 ways to found a successful business as a student:
1. Expand Your Favorite Hobby
If you already have a hobby that you like to engage in regularly, you have the foundations in place for founding a startup venture. Let’s say you have a penchant for creative writing and for travel. Start by developing an online portfolio of your writing talents by blogging or creating how-to articles about certain niche destinations. Then, pitch your portfolio to travel sites, travel bloggers, or even airlines. They may just commission you to work on their marketing team as a writer, and before long, this will grow into a side business where you are making money selling your hobby.
Generating any income as a young #entrepreneur is a surefire way to help you pay your way through school. #studentpreneur #smallbiz
2. Get Crafty and Sell Handmade Goods
There are plenty of avenues to showcase your handmade products online. As a student, you can complement an online venture by selling your goods in-person to the collegiate community. This way, you have a guaranteed customer base of fellow students and professors who know you in addition to an online database that requires no retail space or any other form of brick and mortar. Plus, people will pay surprising amounts for handmade goods, and if you attach an eco-message or giveback strategy, you will be able to reach a wide audience.
3. Provide Services to Locals
A third idea for a startup business that you can manage as a student is to provide local services to residents, businesses, and students. Some examples to consider include: window-washing, dog-walking, dog-sitting, landscaping, gardening, tutoring, note-taking, and grocery shopping. All you need to do is be able to market and perform the service—either on your own or by hiring out workers—and by doing the right amount of research on your potential buyers, you can target an easy market who will be willing to pay.
By engaging in any of these strategies, you can start a small business as a student and begin your path as an entrepreneur in a way that allows you to pay your way through school and avoid student debt.