Here are the top 5 ways on how to make money in college.
How do I know this?
Because I have tried every single one.
This isn’t your typical, “oh just work for Uber” type of advice.
This is actual ways that can help build long term wealth if done properly and in the right order. So find out in today’s video about the top 5 ways to make money in college even if you are broke.
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FULL TRANSCRIPT
In today’s topic, we’re gonna go over the TOP 5 WAYS that enabled me to make my first $100 a day when I was a broke college kid.
This blog will be a little different since I’m going to tell you the entire format through a story.
It’s because of the fact that, I wouldn’t have become successful on the third, fourth and fifth one had I taken the risk to involve myself in the first part.
I’m saying this because as I go over with the first one, you might actually find it weird…
And the reason behind that is the negative connotation a lot of people have about it.
Now all I gotta say is…
Keep an open mind. Your mind is like a parachute… IT ONLY WORKS IF IT’S OPEN.
I’m telling you guys, I’ve tried every single one of these ways.
I have tested and failed on each one and made a little money on some.
It’s not something that you can just type in Google and search for ‘How to make money as a broke kid’ kind of thing.
Google will basically tell you to do Uber, pick up trash or some dumb shit that won’t create long-term wealth.
What I am about to share is something that you can start doing especially if you’re broke and still in college.
This, by the way, is your boy Mike Vestil’s entire story.
When I was in college, I was broke as hell…
So broke, I lived off of ramen noodles.
In my entire paradigm, I never really understood what it meant to actually make money.
On top of that, I didn’t think that I, for one, believed in myself.
Back when I was a kid, my mom would always tell I should be a doctor, a dentist or a nurse. . Or else, I’ll be disowned!
Given that, those were my only option.
So of course, I didn’t think of any one of these ways for me to actually make a living online, much less.
And then… SOMETHING CHANGED..
WHERE IT ALL BEGAN…
While I was in college given all those situations that I’ve been in, I was approached to join a network marketing company.
Now this is where a lot of people get skeptical…
GUYS. . I’m not gonna ask you to join a network marketing company. I need to be clear on that.
This was just my first experience in making a hundred dollars a day.
Yes, I’ve made $100 a day but I wouldn’t personally recommend it because it has a lot of negative connotations. It has burned a lot of bridges for me where people, especially friends, ended up hating me.
It’s all about recruiting a sales force of people to basically sell for you.
Then you get a percentage of the sales volume. And it’s basically an inefficient affiliate marketing strategy if you really think about it.
Even though I wouldn’t recommend it to anyone, it was probably the best decision of my life at that time because it introduced me to this concept called ‘personal development.’
Part of that is reading self-help books.
As the saying goes, “The more you learn, the more you earn.”
It was through network marketing that I started listening to people like Jim Rohn, Bob Proctor, Brian Tracy, or Tony Robbins. PEOPLE THAT I DIDN’T KNOW EXISTED.
If it wasn’t for network marketing, I would have never gotten into personal development and my bank account wouldn’t have grown in direct proportion to as much as I grow as a person.
In short, it literally helped me gain the mindset to start making $100 a day.
Although it wasn’t a long-term thing for me, it taught me little things like confidence, public speaking and sales in general.
It also taught me how to deal with failures and rejections. Things that they don’t teach you in college.
Those are very valuable assets that helped me further on.
Let’s now go over with the first way in order to make $100 a day as a broke college kid.
DROPSHIPPING ON eBay
Dropshipping on eBay is perfect if you don’t have any money at all!
Because of the fact that eBay is free to start..
What I mean by this is all you need to do is to find items from Amazon and sell it on eBay.
This is where the story comes in on how I actually got into where I am today.
I was into the recruiting stage of a bunch of people online, I did reach out to recruit my friends. A lot of them said ‘no’ and they think it was stupid and it was so dumb.
It hurts to hear my friends expressing their disbelief and them being so unsupportive of my entrepreneurial journey.
But I just kept on spamming a bunch of people on Facebook (NOT THE BEST THING OF MY LIFE. lol)
I even came across Tony Robbins’ Facebook groups and I started adding people left and right and just messaging them asking for their opinion on my promotional videos or what not.
While so doing, I was trying to recruit this guy who’s also a Filipino dude. .
And while I was trying to get him to be part of ‘my team’ in network marketing, he immediately declined my offer and said he can’t because he’s already dropshipping on eBay.
To cut the long story short…
That was the first time that I was ever introduced to this concept of Dropshipping.
He basically told me that he would go on Amazon, find something that was really cheap and mark it up to $5 to $10 dollars on eBay.
That’s exactly what I did.
I quit network marketing and shifted to selling stuff online. And then that’s my initial taste of dropshipping on eBay and Amazon.
If you want to check it out, I did an in-depth 20-30 minute tutorial about this.
Like I’ve said, this is perfect for broke-ass people because of the fact that it’s a free traffic source. You could literally only buy the product after you made the sale.
Well, my profit margins started cannibalizing because ever since the barrier of entry was so low and anyone can do this, my profits went from $5 dollars to $100 dollars a day.
But this profit margins was a quarter (25 cents) and I was selling around hundreds of units a day. I sold stuff like ab rollers and train tracks…
Those are like hot products back that day on eBay but I was only making $100 profit because it was twenty five cent profit money for each.
I realized that I was selling a bunch of crap from Amazon while they weren’t doing any of the hard work. So I thought of also selling on Amazon, which leads me to the third way…
AMAZON FBA
I took the profits that I made from eBay and I started buying products from China.
Now here’s the biggest thing guys…
When you make $100 a day in one source, don’t freaking spend it on dumb shit man. Reinvest that back into your business.
Some people would complain that they don’t have the money.
Well the fact is…
They’re just spending it on going to bars and doing dumb stuff.
You see, most college kids would say they don’t have the money but yet, you’re still able to see them smoking cigarettes everyday and spending $5 to $10 dollars on those useless stuff.
In reality, they’re actually finding ways to invest in things that are bad for their health instead of reinvesting in their business.
BUY PRODUCTS IN BULK
As you can see, I took the money from dropshipping on eBay when I was only making 25 cents profit and I started buying those products in bulk.
Instead of a quarter profit, my profit was like $10 to $15 dollars. .
Some of my first products that were in Amazon FBA were grill gloves.
For all those that are in Amazon FBA, I was one of the grill gloves sellers back in 2016.
Actually, that got me around 10 to 20 sales a day because Amazon FBA is pretty easy..
It’s because of the fact that as long as you do their SEO right, and as long as people aren’t competing for you, your business can grow faster.
If we’re talking about today, man don’t freaking sell grill gloves because you’ll literally get screwed over because everyone and their moms are selling grill gloves.
It’s just that I got caught on the trend before the opportunity got too big and I was already making around $100 a day from Amazon FBA.
But here’s the thing guys…
I didn’t personally like the fact that every single time I had money, I had to reinvest in more products.
Because I began asking myself how much am I actually profiting if all the money that I make is just going to be used to buy more inventory.
That’s when I went from dropshipping from eBay to manufacturing, wholesaling and private labeling and then to going back to dropshipping.
I literally went back to dropshipping and got my REALLY BIG SUCCESS.
Because think about this guys…
It doesn’t really matter how much money you make, it’s how much you get to keep in your bank account.
So when I went back to Dropshipping, I started learning Facebook Ads and eCommerce.
I literally got all the products from China and also on eBay.
One of the biggest things that helped my business especially for dropshipping, is when I cut out my Aliexpress dropshippers and I only dealt with eBay sellers that were local.
Well, the biggest thing that happened back that time was the seller where I got the items from actually reached out to me.
It started out just dropshipping from them but then later on she ended up making a deal with me. And the craziest thing was this manufacturer was just 10 minutes of a drive from my house.
It’s the law of attraction guys.
Remember, business is about building relationships.
It’s not just about selling one-off products on Facebook.
Like I was able to sell all their other products and we were able to build a brand from just dropshipping the products that this company already had.
Because of this, it got so damn big.
We’re getting hundreds of orders a day and it hit the hundred dollars a day pretty fast.
The only downside was the refunds were a hassle! I freaking hate dealing with refunds.
We even had the returns addressed to our house and I told my mum we’ll just give them away for Christmas.
So we didn’t want to deal with them anymore which is why I shifted over to the next business while somehow maintaining the previous business that I got into.
That led me to the fifth way to actually make money from nothing…
AFFILIATE MARKETING & BLOGGING
Well guys, with these two, I don’t necessarily have to be there for the customer.
I don’t have customer service and there’s no need to deal with the returns.
Since everything is digital and you can start that out pretty fast, you can read this very helpful and step by step guide to get you started:
How to Start a Blog and Make Money | The Complete Guide
So that’s it guys.
Those are the five ways to make money as a broke college kid.
Hopefully, this helps. If you like this, make sure you comment below and hit the like button.
I’ll see you guys on my next blog!
Take it easy.
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