After dropping out of college, it can be very challenging to find a suitable business to do. I dropped out of college and had a difficult time getting traction in business.
My eBook has the full story of how I dropped out of college and how I ended up in the writing industry. You are reading this blog because I put in sweat, blood and tears after dropping out of University.
If you are in the same position that I was in several years ago, I hope this article will help you get direction. I will share with you simple business ideas that any college dropout can venture into and make a full time income.
You don’t need a university degree for you to start a blog. I dropped out of college and while I was searching online for a way to make money, I stumbled upon the suggestion of creating a blog.
At first, I thought it was impossible for me to create a blog since I didn’t know coding. But I was introduced to WordPress, which helps average people create stunning websites without dealing with codes.
I spent a few months learning the functions of WordPress, which by the way are very easy. There is also a lot of information online on how to get started on WordPress.
Before long, I had mastered the basics and I embarked on learning the hardest part of creating a blog; writing blog posts.
Just like any other skill, it takes a bit of work to have a hold but once the ball starts rolling, everything becomes easy.
Since I dropped out of college and started blogging, which worked well for me, this is my number one recommendation for anyone who has dropped out of college and is looking for a business he can start.
One of the biggest advantages of starting a blog is that you need very little money to start. I began my first blog with a whooping $31.
You will always get better with time.
2. Flipping Websites
Since I’m into websites, this list is going to have many ideas around websites. The second business I recommend college dropouts to do is buying and selling websites which is popularly known as flipping websites.
Yes, there are tons of people online who buy websites and many others who sell them. This type of business is suitable for you if you are not a good writer or you don’t want to put in the hard work of learning to become a writer.
In flipping websites, all you have to do is go to a website marketplace such as motion invest then buy your first website.
Of course you will need some tips on how to buy a good website for you to buy your first site. Once you acquire your first website, you can sell it right away at a higher price or you can hold it a bit longer.
Once you gain a bit of experience, you can improve the website you buy by adding more content and tweaking a few areas.
Once it gains better metrics, you can then flip it at a much higher price.
Websites are lucrative assets that many people look to buy online. I actually sold my first website that I began after I dropped out of college for $250. That is the same website I began with $31.
3. Creating a YouTube Channel
I’m pretty sure you have thought about creating a YouTube channel already. Well, YouTube is a good platform for you to make money.
Unlike what most people think, you don’t have to be an expert at video editing for you to start a YouTube channel. I know a number of people who are earning a substantial amount of money from their YouTube channels with average skills.
Provided you have a smartphone that has a camera, you can start shooting simple videos. If you post videos consistently for a while, you will start getting traction.
I know a certain guy who has a sizeable YouTube channel yet he shoots his videos in the most casual way imaginable.
The most important factor in succeeding with a YouTube channel is picking one narrow topic that people are barely talking about and making lots of videos about it.
Avoid big topics that are popular and don’t be in a hurry to become a popular YouTuber. Just create helpful videos and be consistent.
You can get more tips on how to create a YouTube channel at Channel Makers.
4. Selling Photographs Online
Did you know that there are people making a full time income from selling photographs online? I’m sure you are wondering who buys photographs online, right?
Well, many website owners buy pictures to put on their blogs. Some media outlets also buy pictures to add to their news articles.
If an event happened in a remote place and the media websites want to write about it yet they didn’t have a reporter to take images, guess what they will do…Of course they will buy pictures from anyone who took them.
As insane as it sounds, selling photographs online is a lucrative business that you can do if you dropped out of college.
You don’t need an expensive camera to start with. Your simple camera on your phone is good enough.
You can get free guides on how to get started with selling photographs online and start making money.
5. Forex Trading
Forex trading is another simple business that many college dropouts do. This is one of the easiest businesses that a college dropout can do.
Unlike the other businesses I have mentioned before, forex trading can make you big money within a very short period. Also, forex trading has very minimal requirements.
All you need is a small amount of money to start trading with. You can sign up to trade on the many trading platforms free of charge.
Just like other business ideas discussed above, there is a lot of information online for trading beginners. A website like babypips is dedicated to helping average people get started with trading free of charge.
If you can spend a few months seriously learning the ropes of trading, you will start seeing some results in a few months’ time.
The key to succeeding with forex trading is learning the psychology of trading and staying consistent even when you don’t see results.
In the beginning, you might lose some trades but that is the normal trading curve.
There are a considerable number of college dropouts who have become millionaires with forex and stock trading. You don’t need any certification to make big money with forex trading.
Which Business Idea is the best for University Drop Outs?
Each of the businesses I have mentioned has its advantages and disadvantages. I will only mention the basics of each business that should help you decide the best idea to go with.
Blogging takes time to learn. It also starts earning you money much later than the other business ideas. But then once your blog starts making money, you can sit back and cash in every month with little or no work at all.
Blogging is a good option if you dropped out of college but you are not in a hurry to make money. This is the best long term business you can do.
Flipping websites is fairly simple. It will take you a bit of time to master the technique of picking the right websites to buy and sell but you can start making a profit in no time.
The downside of flipping websites is that it requires a bigger sum of money in the beginning for buying websites.
The business of flipping websites is best for you if you are a University dropout who has a considerable amount of capital and you want a fast enough return on a business that has a low risk.
Creating a YouTube channel is by far the cheapest business of those listed here to start. You can start with $0. However, YouTube requires you to have good information to offer.
Therefore, YouTube is a good investment for you if you are a college dropout who has something unique to share with others and you can speak well.
A YouTube channel is like a blog though you will start making money much earlier than on a blog.
Selling photographs is cheap to start but it takes time to get traction. Photography skills are not a must in the beginning but if you want to stand out, you will have to learn them.
This business model is best for you if you are a college dropout who is passionate about taking photos and you are willing to take time to learn before you start earning.
Forex trading is best for you if you are a dropout who has no problem taking risks. It requires money to start trading and you can easily gain or lose money.
If you want ‘quick’ money and you are in for a bumpy ride, forex trading is the best for you. Also, if you don’t know what business idea to go with, start with forex trading; it is the most newbie friendly.
Making money after you drop out of college should not be a difficult endeavor. Many dropouts have made it in life and it is becoming easier by the day to make a fortune without a college degree.
All that is required of you is to put in the work and keep grinding until you see the results you want.
In case you need motivation to jump into business as a college drop out, feel free to grab my eBook to get motivation from my personal journey of dropping out of University to create this amazing blog.
All the best!