With colleges going test-optional and test-blind, there’s a lot you can do to improve your chances and strengthen your profile while still in high school apart from your test scores. One way to do this is by conducting an independent business project. These projects can help bolster your resume and enhance applications for research programs and internships by showcasing your ability to apply theoretical knowledge in practical scenarios. Business projects help develop critical thinking, problem-solving, and entrepreneurial skills. They also provide tangible outcomes that stay on your profile as a mark of competence and initiative.

In today’s blog, we’ve listed ten business project ideas that you can consider undertaking to expand your horizons and gain valuable experience:

1. Conduct a market research study

• What to do: Identify a product or service of interest and design a market research study to assess consumer preferences and market viability. Begin by defining your target demographic and constructing a survey that includes a mix of quantitative and qualitative questions. Utilize digital tools like Google Forms or SurveyMonkey to distribute your survey online, and consider setting up interviews or focus groups for more in-depth data collection. Analyze the data using software like Excel to identify trends and consumer preferences that can inform business strategies.

• Skill sets: Analytical thinking, data collection, and interpretation skills.

• Ideal if: You have an interest in marketing, data analysis, or entrepreneurship.

• Drawbacks: Can be time-consuming and requires access to a target audience.

• Tips: Utilize online survey tools and social media to reach a broader audience; clearly define your research questions before you begin.

2. Develop a business plan

• What to do: Choose a business idea, then research and develop a detailed business plan. Start by conducting a market analysis to assess the demand for your product or service. Outline your business structure, design a marketing strategy, and develop an operations plan that details the logistics of how your business will run. Prepare financial projections including an income statement, cash flow forecast, and a break-even analysis. Use business planning software like LivePlan to structure your plan and ensure all critical elements are included.

• Skill sets: Strategic thinking, financial planning, and creative marketing.

• Ideal if: You’re an aspiring entrepreneur or are interested in learning about the startup ecosystem.

• Drawbacks: Requires a deep understanding of various business aspects and can be complex.

• Tips: Use business plan software or templates to guide your structure; seek feedback from business educators or mentors.

3. Run a social media marketing campaign

• What to do: Select a business or create a hypothetical product and plan a comprehensive social media marketing campaign. It’s even better if you can get your hands on a real brand’s social media back end, like a business run by your guardian(s) or a teacher or mentor! Identify which platforms are most popular with your target market, such as Instagram for a younger audience or Facebook for an older demographic. Develop a content calendar, and create engaging posts that include images, videos, and hashtags. Use scheduling tools like Buffer or Hootsuite to maintain a consistent posting routine. Analyze engagement through platform analytics to adjust strategies and improve interaction rates.

• Skill sets: Digital marketing, content creation, data analysis.

• Ideal if: You are serious about making a career in marketing, advertising, or digital communications.

• Drawbacks: Success heavily depends on an understanding of platform algorithms and audience behavior. You also need to execute campaigns (which requires funds) to truly learn what strategies work and which fail.

• Tips: Keep up-to-date with trends on each platform; use free analytics tools to track your campaign’s performance.

4. Conduct a financial literacy workshop

• What to do: Develop a series of financial literacy workshops aimed at educating peers about personal finance management. Topics can cover things like budgeting basics, the importance of saving, how to use credit responsibly, and the fundamentals of investing. You’ll need to prepare interactive presentations and hands-on activities like budgeting exercises or simulations of investment scenarios. You’ll also have to promote the workshop through school channels and social media and consider inviting a financial expert to provide additional insights.

• Skill sets: Public speaking, educational content creation, financial knowledge.

• Ideal if: You have a solid foundation in finance and are equally passionate about finance and education.

• Drawbacks: Requires an extremely thorough understanding of financial concepts, as well as the ability to break complex terminology down and explain it simply to a layman's audience.

• Tips: Use interactive tools like games or simulations to make learning more engaging.

5. Setup your e-commerce store

• What to do: Establish an e-commerce store by selecting a niche product line you are passionate about. Research potential suppliers or decide on making your products if feasible. Set up an online store using a platform like Shopify, which provides customizable templates and integrated payment systems. Develop a marketing strategy that includes SEO optimization, email marketing campaigns, and social media advertising. While you don’t have to have a real, physical product to sell, your learning will be significantly greater if you do. It’ll also teach you to manage customer orders, track inventory using the platform’s built-in tools, and understand how logistics and supply chains work.

• Skill sets: E-commerce management, digital marketing, customer service.

• Ideal if: You have a strong interest in retail, entrepreneurship, and online business, and want to test the waters with online sales.

• Drawbacks: Initial capital is required for buying inventory and setting up operations; managing logistics can be extremely challenging and is one of the hardest things to learn at a young age.

• Tips: Start small with a few products; utilize drop-shipping to minimize upfront costs.

6. Conduct a sustainability audit for a local business

• What to do: Approach a local business and offer to perform a sustainability audit. Assess their current operations with a focus on energy usage, waste management, and sourcing policies. Research sustainable practices relevant to their business type, such as switching to energy-efficient appliances, implementing a recycling program, or using local suppliers. Prepare a report that outlines your findings and provides recommendations for improvements, including potential cost savings and environmental benefits.

• Skill sets: Environmental science, research, business analysis.

• Ideal if: You are looking to understand sustainability practices in business, their practicality, application, and implementation.

• Drawbacks: Requires knowledge of environmental practices and business operations. Also requires access to a local business that is willing and interested in sustainability operations.

• Tips: Partner with environmental organizations for guidance; focus on cost-effective solutions that can apply to even small businesses.

7. Create an investment portfolio

• What to do: Use a stock market simulation tool to create and manage a virtual investment portfolio. Begin by setting investment goals based on hypothetical scenarios like saving for college or starting a business. Research various investment options including stocks, bonds, and mutual funds. Allocate assets according to your risk tolerance and time horizon. Monitor the performance of your investments using the simulation tool’s analytics features, and make adjustments to your portfolio based on market conditions.

• Skill sets: Financial analysis, risk management, decision-making.

• Ideal if: You love finance, and economics, and want to understand how the stock market truly operates.

• Drawbacks: Has an extremely high learning curve if you’re unfamiliar with financial markets.

• Tips: Start with virtual trading platforms to practice without financial risk.

8. Conduct a business ethics case study

• What to do: Select a recent case involving ethical dilemmas in the business world. Research the background and the outcomes of the case. Analyze the ethical issues involved, considering various stakeholders’ perspectives. Write a detailed report discussing the ethical, legal, and business implications of the case. Consider presenting your findings to classmates or at a school conference to engage others in discussion about business ethics.

• Skill sets: Critical thinking, ethical reasoning, research.

• Ideal if: You have an interest in corporate law, ethics, or human resources.

• Drawbacks: Can be abstract and requires a nuanced understanding of ethical principles. There also may be a fair bit of legal research involved which can make for dry reading.

• Tips: Choose a relevant and timely issue; use real-world examples to ground your study.

9. Lead a customer service improvement project

• What to do: Identify a local business willing to collaborate with you to enhance their customer service. Start by gathering feedback from customers through surveys or direct interviews to identify areas for improvement. Analyze this data to develop actionable insights, such as streamlining the service process, enhancing staff training, or integrating new technologies for better service delivery. Implement the improvements and track changes in customer satisfaction.

• Skill sets: Analytical skills, customer relations, strategic planning.

• Ideal if: You’re interested in operational management and customer satisfaction.

• Drawbacks: Access to business and customer data might be restricted.

• Tips: Focus on businesses with which you or your family have a relationship to ease data access.

10. Create a nonprofit fundraising strategy

• What to do: Partner with a nonprofit organization to devise and execute a comprehensive fundraising strategy. Start by understanding the organization's goals, budget, and previous fundraising efforts. Develop a mix of fundraising activities that could include online crowdfunding campaigns, charity events, and grant writing. Create promotional materials and utilize social media platforms to raise awareness and encourage donations. Evaluate the effectiveness of different strategies and make recommendations for future campaigns based on your results.

• Skill sets: Event planning, persuasive writing, strategic thinking.

• Ideal if: You want to understand nonprofit management, event planning, or how fundraising works for different organizations.

• Drawbacks: Fundraising can be quite challenging and results may vary widely. It’s also not a one-size-fits-all approach and requires custom solutions and a lot of trial and error.

• Tips: Leverage community events and social media to maximize outreach and impact; be clear about how funds will be used to encourage donations.

These business projects offer a range of experiences that cater to different interests and skill levels, providing valuable learning opportunities and a solid foundation for future career endeavors.

If you’re looking for an incubator program that helps you establish a developed startup in high school, consider the Young Founders Lab! 

The Young Founders Lab is a real-world start-up bootcamp founded and run by Harvard entrepreneurs. In this program, you will work towards building a revenue-generating start-up that addresses a real-world problem. You will also have the opportunity to be mentored by established entrepreneurs and professionals from Google, Microsoft, and X. 

You can access the application link here!