Never too early to start a business
THERE is never a better time to become an entrepreneur than in one's college years, according to US business book author Brian Armstrong,After all, that's when we are young, energetic and full of fresh ideas. Armstrong says college students with new ideas should try them out — if only on a small scale.
Your first business may not make you a millionaire, but it will teach you more about starting and running a business than you can possibly imagine.
Armstrong has the following practical business suggestions for aspiring entrepreneurs:
1. Build a blog around a special area
Blogs are becoming more popular than ever, but instead of writing about what you had for lunch today, why not create a blog focused on a particular topic that fellow students will find interesting or useful.
Most students are concerned about a few big things, such as the opposite sex, parties and campus sports. Pick one that you love, and start writing tips and useful advice. Pretty soon, readers will begin to spread the word about your blog.
Once you have website traffic, several options are available for earning money, including the Google Adsense advertising service. You can also recommend products and events for commissions.
2. Providing tutoring services
One of the best ways a college student can earn money is by working as a tutor. While most on-campus jobs pay about 10-15 yuan per hour in China, tutoring rates regularly go as high as 40 yuan per hour.
You could start by doing some tutoring yourself, but why not hire your friends to do the tutoring, and match them with kids who need help?
Take a percentage off the top, or charge a flat fee each time you make a match, and you've created your own tutoring business!
To find clients, drive some traffic to a Web page, or ask for referrals from friends, family, and happy customers. Before you know it, you'll have a profitable business.
3. Help companies in marketing
Students are a highly sought-after market that many big brands will pay to reach. As a young entrepreneur, you can help them out.
Find a product or local restaurant that you love and think other students would enjoy too. Then approach the company with a proposal.
Request an incentive, such as a special discount for students at your school, and offer to work on commission so they only have to pay you when you produce real results. If it works, they make money. If it doesn't, they lose nothing.
4. Sell used textbooks
These days, books sell at high prices, and smart students have caught on, fueling a large market for used textbooks. Once you have finished using a book — such as a GRE test guide — it's almost useless. But if you sell it to others, it'll be worth up to 50 percent of the original price.
So, as a young entrepreneur, you'll have to get creative in finding as many of these popular used books as possible. When it comes time to move at the end of the semester, some students will gladly hand over their books for a few yuan.
Post a list of your books online, or organize an open market on campus, and you'll soon be in business.
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