Are you a student that is passionate about starting a business? Is your interest in online business and you do not know how to go about it?
Well, there are many options for online business ideas to pursue if you want to succeed in the business of using the internet. The good thing about online business is that it is mostly free to start.
You Need A skill.
What you need are your talent, a laptop or a smartphone, and a data subscription.
I am presently working on some online businesses and I can tell you that is not expensive to start.
If you want to learn how to do online business you can read these articles:
Before I go further, I will like to tell you some basic rules you can apply if you want to be successful in online business as a student.
Let The Business Be About Your Customers Needs And Not Yours.
It is easy for you to think of starting a business you admire or you have seen someone succeeding in it when you are not even sure who your customers are.
You will set the business only to find out that you do not have customers, and then you will spend money to convince people that they need your products or services.
How about if your customers are waiting for you already? or they have been expecting someone to come to their aid? I believe such a business will grow faster.
Find A Need And Fill It
The first rule of floating a successful business then is finding and filling a need.
When I ask people which business they want to start, most times I see people select business base on what is trending, what other people are doing and before they know it, the type of business is saturated and competition becomes stiff.
Take Advantage Of Online Flexibility
People go into online businesses because it gives flexibility, time to spend with family, more money, and the ability to work from anywhere.
The advantages are enormous but you have to consider the opportunities available for you properly.
Only by factoring your customers into your system can you turn your dream or passion into a real business that will make you money.
Which brings me to the next point;
You Need More Than Passion As A Student To Succeed In Online Business
Passion alone does not make business succeed; you need to channel the passion into the right system. The systems should be personalized because there is no standard template for success in online business.
Suit Your Customers
There are procedures to follow, but you must tailor it to suit your customers’ needs.
Online business like any other business does not have an automatic button for success that when you press success will come.
Following the procedure someone did to be successful in a specific business is not a guarantee that you will be successful too.
Consider Your Interest Too!
You should indeed create a business around something that interests you but it will be better if that your interest is what your prospective customers need.
You should ask yourself the following questions; what do my customers need? Which online business will meet the needs of my prospective customers?
Consider The Business System
Which online business system will be the most profitable? How do you know if people will pay? How do you get traffic, buyers, and repeat customers?
In this write-up, I’m going to show you some different ways you can start your first successful online business as a student and make money, some of the steps are as follows;
Steps You Can Follow To Start Online Business As A Student
Below is a guide that breaks down the process of starting an online business.
As a student, you can follow this guide to prepare your mind to make your choice of business to start.
You can also get more strategies for online business success from this articles:
1. Get The Right Niche.
As I earlier said, you should go into a business to meet the need of others.
Therefore, before you start any online business, you need to find the right product with the potential for serious profitability.
You should spend time to research different niches and even examine the life of others and yourself to find problems that can be solved.
The problem-solving method you apply is your niche.
Just ensure that the niche you get into is not saturated so to avoid stiff competition.
2. Consider Market Availability.
You need to have an estimate of your prospective customers.
Since your business is going to be online, you can make your choice to where and who you want to reach.
In online business, you can set your website from anywhere to reach everywhere in the world. Your reach is limitless.
Now that you have a business idea, it is time to dig deeper into product viability. Think about the kind of details that can make or break your business.
3. Conduct Market Research.
Research your market, know your competitors, use keyword research on google to learn about your prospects and evaluate trending products.
Get on social media forums and learn more about what people are saying concerning the product or services needs you want to meet.
4. Conduct Competitive Analysis.
You need to find out what is working for others and how you can improve on it. You must, however, avoid the temptation to copy from others.
Find out what is working and what can be improved upon from your biggest competitors. This will tell you how to define your brand and position yourself in the market.
5. Analyze Your Target Market.
Spend time to learn about your prospective customers. You must know your ideal customer. Who are they? What do they like? How can you tailor both your product and your website experience to appeal to your perfect customer?
For you to have the right product, you must know who your customer is, and how to set up your business to meet up with your customers’ needs.
6. Choose The Right Delivery Method.
If you are going to operate an online business, you must need an online presence.
You will need a website, a social media account, email and all other forms of online presence that can give you the excess to other people.
You need the right platform and product. For some products like e-book are better off with websites while others, a YouTube account will do just fine.
Before you go into any business platform, learn all the steps you need to take to make sure you are prepared.
7. Focus On Creating A Followers And Subscribers Base.
To survive in the online business you need subscribers to your products, you need followers of your platforms, you need an email list and so on. You just need people to key into your product or services offered.
You can start by offering free products and services to create the followership base that you will use later to reach for real marketing of your products.
Once you’ve got your platform up and running, learn the leading organic traffic driving tactics to get more visitors to your platform.
8. Create Multiple Ways To Monetize Your Online Platform.
There are many ways to monetize your online business, so you should consider many alternatives so that one product can bring multiple sources of income.
You can own websites were you sell info products like e-books, a course or a podcast.
The same website can still do affiliate marketing for other businesses and still place adverts for other products.
Online business gives you the ability to sell one product in multiple formats to many people at the same time.
9. Measure Your Online Success.
You should analyze and measure your online business success because success is nothing without analytics to prove it.
Your measurement will help adjust to optimize your products and service so that you can make more income from your products and services.
10. Learn Online Business Laws.
Take time to learn all that you need to know about laws governing online business so as not get in trouble and lose all your income in the process.
You must understand copyright, plagiarism, shipping restrictions, zoning laws, and trademark considerations. These can all make or break your business.
Online Business Options For Students.
You may have come across articles that will tell you something like “50 Online Business To Start” or “30 Business You Can Do Online In 2020” and you may feel overwhelmed by the numbers.
While some business operates completely online, others are a physical business with an online presence.
You can learn essential business skills from the article below, if you wan to succeed in your online business as a student.
Setting Up Online Business Is Cheap!
Setting up an online business is usually cheaper than setting up a physical product.
You will need to produce many units of your physical products to sell to prospective customers in physical business, while in online business, you just produce one and millions of people will have access to the same product.
It Is A Convenient Side Business
In the online business, you will don”t need to stop your present life pursuits, as you can work from any remote site at any time you like, your business is opened 24 hours of the day.
While you need a specific site and time to do physical business, you will also need to close your shop in the night, so you cannot work 24 hours a day.
The following articles have helpful resources to get you started with your online business
Here are seven options of online business you can start free today as a student.
- Affiliate marketing
- Online courses
- Physical Products
- Social Media Influencer
- Software Products
Online Advertising though not as lucrative as it use to be, is one of the ways for you to make money online.
As a student. You can go into online advertisement business when you have a website, a blog and enough visitors for you to make something out this business model.
You will then need to apply for Google AdSense, Click Bank, etc. As you get traffic to your site, and as people are expected to click on the ads and when they do, you get some money base on the number clicks made.
You can even open a YouTube Channel and when you get enough subscribers, Google will place adverts on your page and as people click those links and make purchases you get a cut out of it.
Alternatively, you can approach businesses and get adverts from them to be placed on your website or page and be paid directly.
You can also endorse and recommend products in your presentations on your website or blog and get paid.
The way affiliate marketing works is a blogger will write a product review of something like “My Best Android Phones” and at the bottom, he’ll say something like “click here to make an order now”
The link is the affiliate link that takes the person to the company offering the affiliate marketing.
So if you click that link and sign up, the phone company pays the blogger an affiliate commission ranging somewhere from $50 to $75.
Learn more about how you can earn money from online business from this article :
There Are Many Options!
There are affiliate programs for almost everything you can buy online; clothes, books, laptops, gadgets, building materials, and machinery, etc., everything you can think of.
When you use affiliates, ensure that you promote products that you have used yourself or know very well and you know that your readers would value and enjoy.
You can make more than $10,000 a month just by putting a link on your site!
May Not Be A Long Term Income!
However, you should know that it is not long-term source of income.
Your click-through rates can tail off and you can end up having to spend all this time dealing with advertisers.
The product itself can stop selling due upgrade or outright cancellation of the deal.
Coaching is another very lucrative business you can do as a student online. It is one of the best ways you can learn business skills. You can get skills you would never learn with any master’s program through coaching.
Coaching is another way to get started with your online business. You can charge premium prices for the work you offer to your subscribers.
It allows you to learn your clients’ deep fears, desires, challenges general information you need to use to grow your business.
It has Its Limitation.
The limitation of coaching is that you can only take on a limited number of clients at a time; you will face constraints of travel as well as time to meet with clients because you may have to physically meet with your clients from time to time.
Though you can organize webinar with clients, you cannot outrightly remove the physical meeting from coaching.
This is one of the best business models to undertake. Online courses are low-risk, high-reward, and they scale incredibly well.
All it takes is for you to sell an information product like a video or written course.
The course can be produced once and sold to millions of people from all over the world.
Customers are not restricted by location or time.
You can also scale up or upgrade your course anytime you want, and
you will see profits grow every time you make improvement to your course.
You will keep getting income from your course for years as long you keep making it relevant.
You may have a physical product that you want to sell but do not have means to reach the right people that will buy.
The online store will be the solution to your challenge, that is why we have eCommerce websites that sell almost everything you can think of.
The richest men in America, Jef Besos, and China, Jack Ma are both into online store businesses in Amazon and Alibaba respectively.
As a student, you may not have access to manufacturers or producers of goods to place their goods on your platform.
However, you can start by owning a drop-shipping website before graduating an online store e-commerce website and then grow your business with time.
It has its challenges too!
The challenge with the drop shipping business is that it involves a lot of advertisements, and the profit margin is so small because the same company that you are getting the products to sell to people also has its online store.
At times, the company may engage in direct sales to customers and is probably always giving out discounts.
So why will someone buy from you when he can get it cheaper direct from the company.
The other option is to create your physical product, something like designing your own clothing, arts and sell online.
Even though there is some money to be made with physical products, profits are much better with online products.
Social Media Influencer
Do you know that owning social media count is a business opportunity?
As a student, what do you use your Facebook or Instagram account to do?
Most students are carried away with posting their pictures on social media platforms without using the opportunity to reach the thousands of followers they have on social media.
I recently read something online about the daughter of the famous American Rapper, Eminem called Hallie.
It is said that she wants to become an “Instagram Influencer”, that is the business she wants to do.
Within a year of opening her Instagram account, she has made millions of followers.
Anytime she posts pictures she with get hundreds of thousands of likes.
Such a person is an advert billboard already!
Companies will be approaching her to get her sign for endorsement and advert deals in no distant time.
This is by far the hardest and most lucrative option.
You have to take years to learn how to code and become good at it first.
You can start developing websites and apps for people.
You can develop a WordPress Theme and monetize.
If you become so good at software development you can design your app like Facebook or Twitter, but I must warn that you will not get quick returns and chances are the projects may fail.
You can diversify by going into Data Science, Machine Learning, Robotics etc.
Whichever direction you want to take in software development, be assured that it is time-consuming and requires patience to make money from it.
However, if you hit your break you will become extremely rich.
There are more income business skills you can learn by visiting High Income Skills For Students
It Is Not Easy To Learn.
The reality is that this simply isn’t a viable option for a lot of us, though.
It is not easy to learn coding, anybody that says otherwise is not been truthful.
Just choose the skills you do easily from the list of online businesses above and be sure that you will come out successful if you do not give up on your efforts.
You can visit the link below to learn more
Tallachi Philemon writes for Classified Messages
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I may be compensated at no cost to you if you decide to use any of the links.
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