I know, I know the struggle of a student, doesn’t matter if you are in high school or college, majority of your time were spent in school, the remaining part you have to spend it with friends in order to maintain a healthy social life. Even if you have a million-dollar idea, you still can’t find time to do it. Well, you are in luck, this guide will give you tips and tricks to help you get started and manage your business as a student.
However, before I start I’d like to tell you my experience as a student entrepreneur, I started an online merchandise store with my friend back in high school. She is the president of a well-known band’s fan club. (Mayday) She was already selling merchandise before I come in, but she would sell it in an inefficient way. She would follow the band to whichever city or town they are playing in and sell their merchandise there. Her aim was to use the merchandise sales to fund her tour, but it barely made any profits after deducting the tour fees or in the off season. When she told me her business, I saw an opportunity to optimize her operations and maximize sales. In exchange, I’ll get the bonus after she subtracted her travel expenses. So I transformed her standing outside of the bar business into an online store with an e-commerce system that would automatically restock when it ran out. No surprise, the sales increased dramatically with 200-500 more sales each month and I get to go away with thousands each month.
So without further a due, Here’s how to start an online store for student.
Tips and Tricks on starting an online business #1: Set up shop
So this goes for any online business, you will need a domain name so people can actually find your shop. However, since you are a student and probably won’t have the time or money to create a website from scratch. I would recommend you to host your shop in some sites such as Shopify or Etsy. I usually would not recommend that as these sites tends to charge commissions, package fees and membership fees and are packed with competitions. But since money is a major consideration, these sites offers a less expensive alternative for you to test out your product first, if it works you can then use the profits to invest in your own website.
Tips and Tricks on starting an online business #2: Create a niche product
Find niche product where’s that little to none competitions, it might seem impossible but it’s not. Or you can create your own by adding features to an existing product. For examples, Mack Weldon made essential such as underwear into their own by adding an anti-odor feature. Now they are one of the best underwear brands. You could do the same.
Tips and Tricks on starting an online business #3 (Wildcard): Get fans
By fans I mean subscribers, any kind of subscribers, YouTube, Email or Blog. You will only need a client list that you have a good relationship with you and trust you. Then you can inform them your new line of product and how can it benefit them. Remember to think in terms of their perspective, works every time. J
Your eyes must be sore by this point, so go ahead set up shop right now right here and see the results.