Students have a lot of time which they can use to their benefit. Unlike other businesses, online businesses do not require a lot of start up capital. Additionally, they are available for anyone with a computer and internet connection. No technical knowledge in the fields is needed. You can work from anywhere. You can easily fix your class studies to go hand in hand with these businesses. This article will explore 5 of the most profitable ventures that a student can engage in and can be the perfect online business for students.
1. Affiliate Marketing
Affiliate marketing has been around for a while. It is a good way to make use of your spare time. Affiliate marketing will earn you money while you sleep. Affiliate marketing is a form of advertising whereby you earn revenue by promoting other people’s products. Affiliate marketing has four players; the network, the brand, the customer and the publisher. If you decide to engage in affiliate marketing, then you will become a publisher or an affiliate.
How Do You Go About It?
One of the easiest ways to start affiliate marketing is to create your own website. This is a way to get paid for advertising or writing about products that you don’t own.
When you place this link on your website and generate traffic to it, visitors will click on your links. Upon clicking the link, they will be taken to the merchant’s website (brand’s website). After going to the merchant’s website, the visitor will buy something. You will earn a percentage of the sale as compensation.
There are various ways in which you can be compensated when you use affiliate marketing in order to earn. These ways include; pay per sale, cost per action, cost per click and cost per mile. When you get good at affiliate marketing, you will earn enough in commissions from it to supplement or replace your income.
This is a good way of improving your portfolio as a student. You will create a lot of contacts and referrals by doing web designing and development. You need to have a workable business plan on how you are going to best leverage your clients.
Once you get the clients, it is important that you give them quality work. One way to do this is by joining freelancing website like Fiverr. In order to survive and keep your rating up, you will need to deliver quality work.
Specialize in something. In the bid to earn more, freelancers can be tempted to expand their niche into a large niche so that they can land gigs faster. This is not advisable since you will not offer quality content. Focusing on a specific niche will enable you to hone your talent. This will allow you to develop and grow your knowledge in that niche, which will eventually make you a sought after expert.
You will also have to put in a lot of work. As a student, nobody knows that your services exist. Nobody can hire you if you do not market yourself professionally. As a web designer, you can do this by developing your own website to showcase your talents. You can attract new clients when they visit your site, so be sure to take the time and do things the right way.
Additionally, make this your learning opportunity. If you learn to design websites well, then chances are that you will have a set of desired skills that will land you a desirable job when you finish school or you will have a large enough customer base to run your own business.
Consult with your peers and mentors in order to develop your craft. Nobody can do it alone. You can find some peers on social media or fellow students. Connect with them and learn from each other. Working with peers will give you a wider network. Some peers will even refer you some gigs that you are more knowledgeable about. Do not underestimate the importance of having a good working relationship with your peers.
Anyone can trade Forex in the world. It is a very profitable venture, but it requires you to master how to do it. A lot of people join these trading activities, but the biggest question is usually, who can succeed in trading Forex. Some find it extremely hard to master. This is because they lack sufficient knowledge in the field or they are bad brokers.
As a student, there is a possibility of you making it by part-time Forex trading. As a part-time trader, specialize in currency pairs. This is a strategy which does not need you to monitor the Forex for long hours. In order to make it as a Forex trader, use these three steps.
Trade during peak hours.
Peak hours almost guarantee liquidity. If you have classes from morning till evening, then you will only be available to trade in the evening. For small traders and beginners, then it is advisable that you concentrate on trading the US dollar with other currencies.
Set up an automated trading system
Since you will have classes during the better part of the day, you can set up an automated system that will help you make trades when you are not available. There are a plenty of these in the market and it is important that you one that is easy for you to learn and use
Be disciplined when making decisions
When you make profits, even the marginal one, take them rather than anticipate for more profits which you might never get. Anticipation and false hope can make you lose a lot. In other words, don’t get greedy
For a student with talent and passion, blogging can be a good way to spend free time and earn an income from it. When you create a blog, you must keep in mind that you need to have steady and high-quality content. This will generate more traffic to your blog and helps to ensure more people visit the website.
Once people start finding your site, try monetizing it. You can do this by selling ad space. Additionally, you can apply your knowledge in affiliate marketing in order to earn money from commissions. Blogging is very simple in this day and age, as it is very simple to start a blog.
What you must know about blogging
Running a successful blog will take time and effort. This is not a get-rich-quick business, but can pay off in time. Some important things to consider are:
- High-quality content will improve traffic in your blog.
- It is important to have basic knowledge of SEO (Search Engine Optimization).
- Learn basic HTML in order to be able to design your blog in the way that you feel is best.
- Be authentic when writing content in your blog. People will admire content which is well researched and well written. So, take the time to develop your content.
- Make use of guest posts. Guest posts will generate more traffic to your blog.
5. App Development
Do you know your way around various coding languages? Then why not try developing an application? Apps are a good way of making money for students. It enables students to earn a living without having to work.
With various app stores, you can upload your content online and you will start receiving payments whenever you earn. Be responsive to your customers and develop a rating system where you can communicate with them. Additionally, run ads on your application so that you can better monetize your apps.
To be a good app developer, you must learn to communicate with your users so that you can give them what they want. Communication also helps in developing the app. This method of making money is available for people who know android app development.
As a student, look for decent online businesses which will help you develop. If you are good in what you do, then these businesses can start paying for your tuition, books, living expenses and eventually a nice part-time or full-time income.
When you work for yourself online, you will learn a lot and gain real world experience. This will help you in all your future endeavors whether you decide to work for yourself or someone else.
If you decide to work as a freelancer online, you will also become a player in the gig economy. If you decide to write apps, who knows, your app may become the next big thing. The only way to find out is to try working online and use your talents, knowledge and education to see what you can accomplish.
I have only discussed a few online opportunities, there are so many of them. The key is to find the right fit for you.
To learn more, take a look where I started with Wealthy Affiliate. They have taught me much more than just the basics. I continue to learn from the amazing community of fellow online entrepreneurs.
Please leave any questions or comments below and thank you for reading.