A college degree used to guarantee you a high paying job, but today that’s unfortunately no longer the case. A degree doesn’t guarantee that you will find employment when you complete your course, which is why a high percentage of college students are choosing to launch small businesses while studying. What’s the benefit of launching a business while studying? It’s the fact that it gives you time to build your venture up while learning, as well as that it can offer a welcome extra income source.
It’s easy to see that launching a business as a student is a good idea – especially as there are various grants available to make the process easier – but what happens if you just can’t seem to think of a business idea, does it mean it’s time to give up your entrepreneurial dreams? If you’re stuck for product-based business ideas, how about opting to run a different kind of business and turning your blog into an enterprise (or launching one to use as a base for your business)?
There’s a common misconception that successfully turning a blog into an enterprise is difficult, but that depends on how you go about it. To boost your chances of success using your blog as a business, read on.
Be clear about your niche
In any field, whether it’s finance, technology, science, or fashion, there is a lot of competition. To successfully run your blog as a business, sticking to one niche is vital, as by doing so you can ensure that you are offering high-quality content that is valuable and unique. If you switch between niches, you will find that your work lacks credibility and value, or at least, that’s what your readers will think. The narrower your niche, the easier it is to be an expert, hence why picking one niche and sticking to it is so important.
Create multiple revenue streams
The fact is that your blog alone, regardless of how incredible the content is, will not bring in enough money for you to live off of comfortably. That is why, if you want to make a success of your blog as a business, it’s vital to create multiple streams of revenue. All of the most successful bloggers recommend that you give your readers a chance to buy, as well as to read and share your content. This could be by creating an e-book, running online courses, or it could be by incorporating an ecommerce store into your site. If you are going to add an e-store to your blog, it pays to also have an app created to ensure that your blog and store is mobile-friendly – this is vital as the majority of internet users browse online via smart devices instead of PCs. If you choose to use Magento or Etsy as your e-store, you can create an Etsy or Magento app fairly easily and cheaply. However, if you have a customer e-store, it may be more expensive and complex to have an app built. So it pays to be selective about how you go about creating your e-store.
Utilize social media to build a community
One of the most powerful ways to successfully build a following is to connect with your readers and allow them to connect with each other. The best way to do that is to utilize social media to build a community around your blog and niche. It’s not just a case of running successful social media campaigns; it’s also about finding ways to engage your followers and communicate with them. Think blogger collaborations and link ups, comment and sharing pods on Twitter and Instagram, and social media networking chats.
A blog can be successfully transformed into a business; it’s just a case of understanding the best ways to do that.