If you’re currently enrolled as a student at Allsaintsuniversity.org or at any university and are looking to make a bit of extra money, while you’re studying, you’ve come to the right place. Simply continue reading to discover a few tips which will help you earn extra money, while studying for your degree.
What you need to be an entrepreneur while in University:
A merchant service:
In order for your business to be able to receive credit card payments from your customers, you’ll need to pay for a reputable merchant service. As your merchant service will collect payments from your customers and will transfer them to your business’ bank account. A task, which your business can’t handle on its own as it’s a legal requirement for a business to use merchant services like https://www.northamericanbancard.com/products/merchant-services in order to accept credit card payments.
Numerous social media accounts:
One of the cheapest ways to effectively market your business is to harness the power of social media in order to raise the profile of your fledgling business. You may even want to get your customer base excited about your business’ brand by using social media based competitions, in order to get your social media fans to share your business’ links or photos with their own network of contacts.
If you’ve been using social media most of your life, you should have the skills and knowledge which you need in order to attract new fans to your business’ social media pages. When you first get started, you may want to concentrate on building a following on Facebook, Twitter and Instagram. Although if your business has a young audience you may also want to consider marketing your business on SnapChat and Tik Tok. Both of which appeal to teenagers.
Enough capital to launch your business:
If your capital is limited as a student, you may want to run a business which offers digital services so that you don’t have to pay thousands in production costs. However, if you plan on opening a physical business you’ll need to acquire capital. Either from your own savings, family and friends, private stakeholders or a small business loan. Just beware that it may be difficult to be approved for a business loan, if you’re a student.
Once your business starts to grow and you can no longer run your business on your own as a busy university student, you may need to start hiring remote workers to help you manage your workload. One of the benefits of hiring remote workers is that you don’t have to pay for office space or for worker benefits. Which will help you keep your profit margins healthy. Alternatively, you could opt to hire 1-2 part time employees from your university campus, in order to help your business grow from strength to strength.
So if you don’t want to wait until you’ve graduated from university with your degree, in order to launch your own business, you don’t have to. Simply use the tips listed above in order to start your own business, while you’re still at university!