Money Tips

5 Online Business Ideas for Students

5 Mins read
Online Business Ideas for Students

Hey there!

Are you a student actively looking for opportunities? Do you want to make money online and you are not clear on what to do? This right here is for you!

I remember one time as a struggling student, I knew my allowance wouldn’t do justice to having a comfortable lifestyle while going through the hurdles of school stress. Don’t get me wrong, my parents gave their all and supported me in the best way they could, but I’m a big boy, and I needed to save for emergencies… You get the gist!

Acknowledging this led me to search for businesses I could do both offline and online. I even sold eggs in my hostel at one point. Profits were cool, but I needed something more solid, something that could help me transition from dorm room life to the big leagues. So, I made a bold move – I enrolled in a content writing class, and the rest, as they say, is history!

I continued practising all I learnt while applying for writing gigs, and guess what? Now, I don’t need to depend on that allowance anymore to be the big boy that I am.

But hey, enough about me; this isn’t just my success story. It could be YOURS too! For me, it was freelance writing, but how about I tell you there are other solid opportunities out there?

I know you want to bam ba and chill with the big boys. Right here, right now, I’m going to walk you through 5 solid online business ideas you can explore as a student in 2023. 

1. Freelance Writing or Content Creation

This is easily one of the fastest online businesses you can venture into particularly if you have a knack for writing or creating digital content. All you need is the skill and a good laptop or phone. Although having a good laptop is better.

With this, you can offer your services as a freelance writer, blogger, or content creator. As long as technology advances, many businesses and individuals will need quality content for their websites, blogs, and social media platforms. This is where you come in! You can use platforms like Upwork, and Fiverr or even create your website to showcase your portfolio and attract clients. If you have other valuable skills aside from writing, you can also utilize these platforms.

2. Social Media Management

You will agree with me that many students spend a lot of time on social media. If it’s not banter, they’re most likely scrolling through or devising several means to drive engagement on their page. And guess what? Many companies are looking to enhance their online presence and are willing to pay for expert assistance in managing their social media accounts.

So if this description fits you and you have a good understanding of platforms like Facebook, Instagram, Twitter, and LinkedIn, you can offer social media management services to businesses. All you need to do is get skilled in social media marketing and it’ll be easier to hone it if you frequently interact on social media.

3. Online Course Creation and Tutoring

With the increasing demand for online education, online tutoring has become a lucrative business. This is for you if you have expertise in a particular field or have a passion for teaching. 

As a good graphics designer, for example, you can host a one-month class on how to create remarkable designs for a fee. You can also have the sessions recorded and sold as a course. Another example is if you are a good baker, you can write a book on how to make a particular recipe or even have pre-recorded videos you can sell to your audience.

This can be a long-term source of passive income once you’ve put in the initial effort to create the content.

4. Social Media Influencing

Social media influencing is similar to social media management but in this case, it’s your social media account and you are making money from it due to the large number of followers you have that trust in your brand and everything you put out.

This is recently thriving on many campuses and I have seen many students who leveraged this and are doing well for themselves. If you do not know how to go about it or build a thriving community for yourself, you can learn from Ibukun.

5. Dropshipping

Dropshipping is an e-commerce business model that allows you to sell products without holding any inventory. In this case, you collaborate with vendors who handle the shipping and inventory management.

As a student, this is an ideal option because it requires minimal upfront investment and can be managed part-time. You can choose a niche you are passionate about and start your online store using platforms like Shopify or WooCommerce.

Tips for Becoming a Successful Student Entrepreneur

I understand that you’re excited and eager to explore one or more of these options, or perhaps you’re already doing so. However, it’s important to remember that you’re still a student, so it’s essential to know how to successfully manage these alongside your academic commitments.

Here are some tips for success if you’re running an online business as a student:

  • Time Management: Balancing your studies with your online business is crucial. Create a schedule and prioritize tasks to ensure you can meet both academic and business commitments.
  • Skill Development: Continuously improve your skills related to your chosen business. Take advantage of online courses and resources to stay updated.
  • Market Research: Before diving into any business idea, conduct thorough market research to understand your target audience, competition, and potential demand.
  • Financial Planning: Keep track of your expenses and revenues. Set a budget and avoid unnecessary spending.
  • Networking: Build a network of mentors, peers, and potential clients. Networking can open up opportunities for collaboration and growth.
  • Online Presence: Establish a strong online presence through a professional website and active social media accounts. This will help you attract clients and customers.
  • Adaptability: Be prepared to adapt to changes and learn from failures. Entrepreneurship often involves trial and error.

Bottom Line

Starting an online business as a student in 2023 can be a rewarding venture offering you flexibility, financial independence, and valuable skills. Whether you choose any of the businesses mentioned above, success depends on dedication, time management, and continuous learning. Embrace these opportunities, and you can build a successful online business while pursuing your education.

When you start making money, don’t forget that it is crucial to have an emergency fund and to also invest. This is why we are here to help you at Cowrywise. We also understand that some of these businesses might require a level of financial commitment, maybe to learn a skill or purchase a gadget. The good news is that you can create a savings plan towards that!

To create a savings plan,
start here.


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