Could a Home Based Business Fund a a University Course Alongside a Scholarship?

Once again it is that time of year many women are contemplating taking up an offer at a university. For many, the decision isn’t an easy one. If you are wondering whether you have made the right decision, let me concentrate on the idea of setting up your own business alongside your course of study.

This not be as mad as it sounds. Part of my job is to organise placements with employers and increasingly I am finding that the placements are being self generated. Women are studying while working for themselves.

Funding is always going to be an issue. Tuition fees, books, equipment and the slight matter of feeding yourself and your family is bound to loom large on the horizon. So it makes sense to find a niche that:-

1) Pays the bills
2) Offers a general opportunity for growth

So the mindset becomes less “how am I going to afford it?” to “how can I ignore this great opportunity?” Sure there are factors of time. If you have young children, and your quick business funding is a shop it would be unfair to them to expect them to behave while you serve customers. While I am not here to preach, I am more concerned with what is an acceptable call on your time and yet can thrive.

What kinds of business then could run alongside a course? The general answer is those that complement the course itself.

Internet marketing

Many newbies are making money on the internet and this is not a myth. Allying yourself with a Clickbank product and selling it via a blog or simply an affiliate link is potentially a lucrative “sideline.” Combine this with an appropriate course in say PR or Marketing and you could Invest your new found knowledge base in the business itself. There are plenty of forums to join. Please do NOT sign up to any expensive packages and Get Rich Quick Methods until you have been in a forum for at least a couple of weeks. Articles like this are fundamental parts of internet marketing. There’s no big mystery.

eBay and Amazon

Similar to the above but more specifically branded. I am hearing substantiated reports of students successfully trading on the same. Amazon’s Kindle platform provides the potential to actually write your own books and place them for sale on Amazon. You might have an area of existing expertise which you can pass on to a niche audience. Perhaps it’s raising kids while studying. Tell the world about it!

Offline businesses

There isn’t the space here to generalise about the numerous types of “offline” businesses that you could venture into. Suffice to say that sometimes the most obvious ones are staring at you in the face as you read this. The family business might need a revamp. There could be a hobby which you could turn into a business. Here are two brief case studies that spring to mind. One of my students made a birthday cake for a guy in Canada. Soon she was inundated with demands for cakes for special occasions. This all came from word of mouth. Her business is now thriving. She did have to skip some modules in her second year to get it going. But now she doesn’t have to go back to her boring desk job that preceded her studies.

 

Leave a Reply

Your email address will not be published. Required fields are marked *