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Learn about online entrepreneurship from Alex Genadinik, $200k/year online entrepreneur. AMA about any way to make money online or anything for your business.

Alex Genadinik
Nov 16, 2017

- Business planning

- Marketing: SEO, social media

- Selling on Amazon

- Mobile apps,

- Elearning: Udemy

- Making money online

- Online entrepreneurship.

You can ask me anything that relates to your business or anything you are curious about when it comes to making money online, starting a business from scratch, or anything pertaining to entrepreneurship.

http://www.problemio.com

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Conversation (54)

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How did you arrive at the sales of your industry and its growth rate?

Nov 19, 12:54AM EST0

Lots of hard work :)

Nov 19, 8:01AM EST0

Tips on educating small business owners on importance of having a website?

Nov 19, 12:49AM EST0

Don't waste your time with people who don't understand the importance of having a website :) those are bad clients.

Nov 19, 8:02AM EST0

What big problem do you solve?

Nov 18, 4:09PM EST0

Help people succeed in business. :)

Nov 18, 6:50PM EST0

How do you believe evolving technology will impact the way we do business over the next 10 years?

Nov 18, 1:56PM EST0

Online business will get incredibly competitive and for the offline workforce, it will be necessary to more rapidly learn and perfect new skills. Many basic jobs will go away.

It is a very broad topic really. Bottom line, with more and tougher competition, everyone will need to work harder and smarter to stay ahead. And people who don't stay ahead will struggle. 

Nov 18, 3:27PM EST0

Can you give an advice on how to start an ESL (English as Secondary Language) academy?

Nov 18, 8:51AM EST0

How would it function? As an online school? An offline school? Please give me a few more details of what you have in mind.

Nov 18, 10:24AM EST0

How did you handle failures and setbacks?

Nov 18, 4:12AM EST0

It is important to keep a good mood and keep your brain functioning as well as it can. Entrepreneurship can have highs and lows and the lows can be very low and sad.

So, to make your brain healthy:

- Get good sleep

- Exercise regularly (for mental health)

- Have supportive people around

- Eat healthy

- Learn emotional intelligence. Here is a course that will teach you that and more: https://www.udemy.com/how-to-be-smarter-and-wiser-course/?couponCode=TENTEN

Nov 18, 6:37AM EST0

What valuable experience can you share with your audience?

Nov 18, 4:04AM EST0

There are so many. Some of the most helpful advice I can give is to be consistent, productive, professional focus on long-term. I have a couple of online courses that may help with this.

1) Productivity masterclass: https://www.udemy.com/productivity-for-entrepreneurs-and-professionals/?couponCode=TENTEN

2) How to be smarter (this is a cool one): https://www.udemy.com/how-to-be-smarter-and-wiser-course/?couponCode=TENTEN

The soft skills in these courses will help you do everything better and accomplish more. The reason I made them is because, for me, the truly most valuable ideas and practices are in these courses.

Nov 18, 6:35AM EST0

Who is your strongest competitor and why?

Nov 18, 3:30AM EST0

I have around 150 different products online that range from books to courses to apps. Each of those products has its own competition.

So in my business, I have to constanty monitor my top performing products and making sure they are best in their categories and constantly improving them and marketing them so that the individual product competitors don't catch up.

Nov 18, 6:28AM EST0

What is your ultimate business goal?

Nov 17, 4:53PM EST0

To make a few million dollars and retire :)

Nov 17, 7:50PM EST0

Why should users care about your service?

Nov 17, 11:14AM EST0

It helps people plan, start and grow their businesses. :)

Nov 17, 11:42AM EST0

Are there any product liability risks?

Nov 17, 9:36AM EST0

I am not a lawyer. There is always some risk of being sued and all that. People can sue each other for anything. But this industry isn't like a physical business where people can fall and get hurt, so there is a little less of the liability issues.

Nov 17, 9:39AM EST0

Are there any good business resources you can recommend for beginners online?

Nov 17, 8:55AM EST0

Yes, I have many of my own. Here is a couse of mine on how to start a business for beginners and it starts from the very basics:

https://www.udemy.com/how-to-start-a-business-go-from-business-idea-to-a-business/?couponCode=TENTEN

I actually have lots of courses like this. You can use the discount code: tenten at checkout to get the lowest possible price on them. Here are all my courses:

https://www.udemy.com/user/alexgenadinik/

And here are all my books on Amazon:

https://www.amazon.com/Business-plan-template-example-business-ebook/dp/B0193L53IU

Also, if you want personalized attention and help with your unique situation, some coaching and mentoring is really good. Here is a link about how to easily get started with that:

http://www.problemio.com/business/hire-business-marketing-coach.php

Nov 17, 9:07AM EST0

Who is your role model?

Nov 17, 6:19AM EST0

My mom :)

But in business, when I was starting, I learned the most from Jason Calacanis.

Nov 17, 8:59AM EST1

This is a general question, I guess. How did you start making money online?

Nov 17, 4:59AM EST0

I started by having a small website at one point and sometime in 2008 I put some Google AdSense ads on my site and began making money. It was very little money - like tens of dollars a month :) but it was very encouraging and I just kept going and never stopped.

But almost everyone else would have been like "this is too little money for the effort" and stopped. So I guess that I never stopped and was consistent - that made all the difference.

Nov 17, 5:09AM EST0

How do you see your business in the next 2 years?

Nov 17, 12:16AM EST0

Hi Stephanie, good question. 

I'll likely stay in elearning and keep working to become a more popular instructor. I also have a B2B elearning business with content licensing and I'll try to grow that. Here is more info about that since it is a bit of an obscure business:

http://www.problemio.com/udemy/white-labeling-or-buying-udemy-courses.html

http://www.problemio.com/services/plr-white-label-book-licensing.php

I'll also get more heavily into Cryptocurrency. And I'll be on the lookout for new business opportunities. 

Basically, I'll try to get to an elite level in the things I am doing well now and keep an eye out to add a couple more things I can add to my business.

Does that help to answer your question?

Nov 17, 12:20AM EST0

Thanks. Very helpful. Gives me some good guidelines for my business as I try to scale and grow it in a profitable way

Nov 16, 10:33PM EST0

You are welcome JStein. I have a small query for you: what do you think you will do with your business next year if you had 100% last word?

Nov 16, 10:37PM EST0

How do you think about where to take your business next and keep it growing after you start to establish business?

Nov 16, 10:26PM EST0

Jsteins, this is a very good question. 

You have to walk a very narrow tightrope between a few issues:

- Focus on company core competencies and making them even stronger/better

- R&D for the future to see if there are any good opportunities

You can help yourself by getting rid of mediocre initiatives or "nice to haves" that don't really move the needle too much but take up resources. 

Does that help?

Nov 16, 10:30PM EST0

How big is the market opportunity?

Nov 16, 9:25PM EST0

For what exactly? :)

Nov 16, 9:32PM EST0

How much equity and debt has the company raised; what is the capitalization structure?

Nov 16, 5:42PM EST0

My company? Nothing raised, no debt. 

Nov 16, 6:12PM EST0

What significant event steered you towards this direction?

Nov 16, 2:02PM EST0

I had my own ideas in life and in business that I wanted to pursue, and setting out on my own and working on them was a great way to satisfy my curiosities. 

Also, I worked in Silicon Valley for a while and worked for a company who was bought out and I had stock options. But the value of the stock options was disappointing compared to my hopes for them. :) So I realized that only the people on top make the real money and everyone works to make their the dreams of those people come true, which was another reason to get into entrepreneurship.

Nov 16, 2:24PM EST0

What best advice can you share with budding entrepreneurs?

Nov 16, 1:45PM EST0

Best advice is to make yourself a very good professional who is consistent, disciplined, productive and resourceful. Most new entrepreneurs end up flaking on themselves, unfortunately. 

If you'd like I can send along some resources for this.

Nov 16, 2:21PM EST0

What gives your company a competitive advantage?

Nov 16, 1:34PM EST0

Good questions, few things:

- Customer care

- Quality of service

- My own marketing and getting ahead of competition

Nov 16, 2:15PM EST0

What was your greatest motivation when you first ventured into online entrepreneurship?

Nov 16, 12:44PM EST0

That's a good question. I had my own ideas and I wanted to pursue my own ideas and not someone else's and that's entrepreneurship. I wanted to answer my own questions in life I guess :) so I set out on my own.

Nov 16, 2:13PM EST0

Would you like to change the past and do better?

Nov 16, 12:08PM EST0

I would get more mentoring. What really screwed me up in the past was not getting help and doing everything solo.  Some mistakes I made in the past were very preventable and avoidable if only I had the right advice at the time.

To see how much of a difference coaching can make, I currently have a starting offer to try 15 min for just $5 with me. You can learn about that here:

http://www.problemio.com/business/hire-business-coach.php 

Nov 16, 2:05PM EST0

What are the common mistakes entrepreneurs make when promoting their business on social media?

Nov 15, 9:04AM EST0

I think overly relying on social media IS the common mistake :)

The entrepreneurs that I coach, about 80% of them say that Facebook, Instagram and Twitter will be part of their main marketing strategies.

But those are not necessarily best suited for your unique business. Some businesses need more SEO or publicity or other kinds of markting.

But the biggest social media marketing mistake is being overly promotional early. Real social media marketing takes time and effort.

Nov 16, 1:59PM EST0

How can one make money online ?

Nov 15, 5:07AM EST0

There are so many ways from Bitcoin to freelancing to renting out your apartment or car :) and everything inbetween. I'd say there are about 50 different legitimate, high-potential ways.

Are there specific strategies you are looking into?

Nov 16, 1:52PM EST0

What was your first online business?

Nov 14, 1:57PM EST0

My first online business was during and right after college. It was a project to help people learn philosophy in an interactive way.

It was accomplished by mapping Socratic dialogs (philosophy) into logical dialog paths that users could do with the computer :)

That was a fun project, but it had many business and execution flaws. So it ultimately failed :'-(

Nov 14, 2:48PM EST1
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