Hi all, wanted to see if anyone has ideas/experience on how to run a side business for senior year of college? Heading into IB after graduation and wanted to make some extra cash to pay for tuition / rent during senior year. Thanks!
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Hey there! Starting a side business in your senior year is a fantastic idea. It not only helps you earn some extra cash but also gives you a taste of entrepreneurship. Here are a few tips based on the most helpful WSO content:
Find Your Niche: Look for something you're passionate about and can turn into a profitable venture. It could be anything from tutoring, graphic design, blogging, or even a small-scale e-commerce business.
Plan Your Business: Once you've identified your niche, start planning. This includes understanding your target market, setting up your pricing, and figuring out how you'll market your business.
Start Small: Remember, Rome wasn't built in a day. Start small, test your ideas, and scale up as you start seeing success.
Manage Your Time: Balancing academics and a side business can be challenging. Make sure you have a solid plan to manage your time effectively.
Incorporate as an LLC: If you're making money from your brand and blog, consider incorporating as an LLC. This shows universities and potential employers that you ran a legitimate operation.
Use Your Business in Your Applications: Weave your entrepreneurial journey into your essays and applications. This could be a huge differentiator on your application.
Remember, the key to a successful side business is passion, planning, and persistence. Good luck with your venture!
Sources: High School Junior Looking For College Advice, Interview with a Senior Software Developer for a Prop Trading Firm, I've had more luck with entrepreneurship than with career: advice desperately needed, 7 Things I Learned While Running a Business
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