- Business Ideas
- Posts
- Business Idea #372, $5K/Mo with A Scholarship Website
Business Idea #372, $5K/Mo with A Scholarship Website
Adaeze Eluba & Scott Max
April 15, 2025
Welcome to Business Idea #372
Grab your coffee, it’s a 2-min skim or an 8-minute read to your possible path to a 1m$ Business!
In today’s letter, we’ll cover:
An Offer You Can’t Refuse 🔥
Business Idea: A Scholarship Website 📰
Case Study: How Pick A Scholarship got to $5,000/month 🚀
Maxcareers: 5 New Marketing Jobs & Internship positions 💼
Business Idea #372: A Scholarship Website 📰
📝 Summary
What do you think about building a platform that directly connects students with life-changing scholarships and gain money doing it, a pretty good deal, right?
Well Pick A Scholarship does just that, pulling in revenue through display ads by helping students find vital financial aid.
🛠️ Tools Required
Hosting & Domain: Bluehost
SEO Research: SE Ranking
Email Marketing: Brevo
Ad Management: Ezoic
Content Planning: Notion
💸 Startup Costs
I’d recommend budgeting around $900 to get this started. The budget will be allocated as follows: hosting and domain will cost about $24 per year, a good SEO tool like SE Ranking is $65 per month, and Brevo for email marketing starts at $9 per month. Utilizing Ezoic for display ad management is free, and Notion has free options available. Some of your budget will also go towards ads to ensure a strong start.
🧠 Knowledge Required
To succeed, you'll need digital marketing knowledge. Our course covers:
Module 1: Making Your Website → Set up a professional site with WordPress.
Module 2: SEO → Rank higher on Google and drive organic traffic.
Module 4: Email Marketing → How to grow and utilize your email list.
Other:
Set Up EzoicAds on Your Website → Ezoic's Getting Started Guide
How to Automate Content Writing → What Is Content Automation & How Can You Use It?
Case Study Analysis - A Scholarship Website: Pick A Scholarship
What does this online business do? 🚀
Pick A Scholarship is an online platform designed to help students around the world find scholarships.
It’s a great resource for international students looking for financial support to study.
Beyond listings, Pick A Scholarship equips students with valuable resources, tips, and categorized information by country and area of study.
In this insightful newsletter, we'll reveal the secrets behind this business’s success and how it makes money.
We'll also look into possible chances for growth that this online business can pursue.
How does this online business make money? 💻
Pick A Scholarship makes money mainly through display ads.
It does this by partnering with Ezoic, a platform that helps websites show ads more effectively.
This partnership allows Pick A Scholarship to display relevant ads to its visitors.
Each time a visitor clicks on an ad or even just sees it, Pick A Scholarship earns a small amount of money.
Ezoic improves the overall experience for users on Pick A Scholarship.
By analyzing how users interact with the site, Ezoic can suggest changes that make the site easier to use, encouraging engagement with the ads.
A better user experience often leads to more clicks on ads, which increases the site's earnings.
What has this business done well?🔥
Here, we’ll reveal the smart strategies responsible for Pick A Scholarship’s success as an online business. They include;
1) User-Friendly and Responsive Website 🖥️👌
Pick A Scholarship has made its website easy to use.
The platform ensures that information is easily accessible by providing it in different formats and ensuring the website works well on mobile devices.
Visitors can quickly find scholarships based on their country, subject, or specific needs.
This simple design helps users search for the financial aid they need without confusion.
2) Targeted Content for Diverse Audiences 🎯👥
Pick A Scholarship creates content for different groups of people.
For example, it has sections for women in STEM, online students, and first-generation college students.
This approach allows the platform to provide relevant information tailored to each group's unique needs.
3) Regular Updates 🔄 📣
The website frequently updates its listings with new scholarships and articles.
This keeps the content fresh and encourages users to come back for new chances.
The site's inclusion of scholarships in emerging fields like AI and cybersecurity also shows it is keeping pace with current trends.
4) Helpful Resources and Guides 📚🤝
In addition to listing scholarships, Pick A Scholarship provides resources like tips for writing strong scholarship essays and advice on how to apply.
These helpful tools increase students' chances of getting funding and improve the overall experience on the site.
5) Niche Specialization 🎯👩🎓
Pick A Scholarship doesn't try to be everything to everyone.
It zeroes in on a very specific and crucial need: helping students find scholarships.
This focus allows the platform to become a trusted authority in this niche and offer highly relevant information, which attracts a dedicated audience.
6) Email Marketing for Engagement 📧📈
Pick A Scholarship uses email marketing well by letting users subscribe to receive updates.
This allows the platform to send regular emails directly to subscribers.
This creates a loyal community and drives repeat traffic to the site.
7) Strong Presence on Social Media 📱🌟
Pick A Scholarship has a strong presence on platforms like YouTube, TikTok, and other social media.
By sharing helpful videos and posts on social media, the platform reaches students where they spend their time.
This multi-platform approach increases brand visibility and boosts overall engagement and platform growth.
What this business could improve?🔥🔥🔥
Pick A Scholarship can improve in the long-term by considering the following ideas;
1) Fix Declining Traffic 📉🚦
Pick A Scholarship has seen a big drop in traffic, from 2,500 visitors to just 112.
This decline can hurt its visibility and income.
To address this, the site should analyze its traffic data to find out why visitors are leaving.
Using SEO (Search Engine Optimization) strategies is key.
This includes using relevant keywords, speeding up page load times, and publishing fresh, relevant content.
2) Boost User Engagement with Interactive Tools 🎮🤝
Pick A Scholarship can add interactive tools to its website.
For instance, a scholarship calculator to help students estimate their chances of getting funding would be great.
Quizzes that guide students to suitable scholarships based on their profiles can also make the site more engaging.
3) Develop a Mobile App 📱📲
Creating a mobile app could greatly benefit Pick A Scholarship.
Many students use their phones for information, and an app would make it easier to browse scholarships.
The Takeaway, What We Learned 🎓
Create a User-Friendly Website: Make your website easy to navigate so visitors can quickly find what they need.
Target Your Audience: Develop relevant and helpful content that speaks to the unique needs of your audience.
Keep Your Content Fresh: Regularly update your website with new information and resources to keep users engaged and coming back for more.
Offer Helpful Resources: Provide valuable tools and guides that help your audience succeed.
Specialize in a Niche: Focus on a specific area where you can be an expert. This allows you to build trust and become an industry leader.
Use Email Marketing: Encourage users to subscribe for updates. Email marketing helps you build a loyal community.
Build a Social Media Presence: Be active on social media platforms where your audience spends time. Sharing helpful content on these platforms increases your visibility and engagement with potential users.
And that's the story of Pick A Scholarship, a business built on the powerful idea of connecting students with life-changing opportunities.
If you're feeling that entrepreneurial itch and want to explore building your own online business, consider the FREE course at Max Business School as your launchpad.
New jobs to check out on MaxCareers.com 💼
If you’re not quite ready to start your own business. Take a look at the jobs below. Why not learn and practice your digital marketing skills AND get paid for it?
Before You Go 👋
Thank you for reading.
Remember, if you know someone who might like this newsletter, sharing is caring.
Also, here are some quick links you might find handy 👇️
If you are ready to get started with your own business, you’ll find everything you need here: access our Digital Marketing & Business Course, connect with like-minded entrepreneurs in our Private Online Business Community, take advantage of an Exclusive Hosting Deal, and explore new opportunities on our Careers Platform.
Bye for now,
Scott Max