Tips on running an online business in 2020
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Two months ago, my company’s revenue was driven by people who traveled abroad to learn languages, to take their university courses, to take part in different certificate programs. In March, that revenue was zero. In April, we’re actually in negative because people are canceling the trips they’d booked before. At the same time, the online part of our business where we teach people languages, record courses, do live streams has been growing.
There are certain things we’ve done in the past few months in order to transform our business because we were expecting a crisis. In this video, I’m sharing with you tips you should follow in order to survive this difficult time and thrive in normal economic conditions.
(1) DON’T HIRE DEVELOPERS. Instead, use a tool to build a landing page. Your goal right now is to start selling as fast as you can. Don’t make your product perfect, it’s okay to make mistakes for the first couple of things, you’re going to improve them later. For you, the most important thing right now is to generate this cash flow to keep you and your business alive.
(2) OUTSOURCE. In these circumstances, if you have people on your team, you might need to get rid of them, if you don’t have enough money to pay for their work. If you don’t have anyone on your team yet, I wouldn’t hire anyone right now because you need to be sure you’re as flexible as possible. If you have small tasks, outsource them and pay people by hour.
(3) HIRE INTERNATIONAL CONTRACTORS. You hire a contractor and you don’t pay any taxes in the US, that person pays his own income taxes in his home country. In addition, the rates are lower.
(4) GO LIVE AND CREATE WEBINARS. Everyone is sitting at home, that’s the reason why live streams and webinars are in high demand nowadays. Do them for free but in the end, upsell your viewers with a course, for example.
(5) SWITCH TO TELEGRAM. If you’re still using Slack to communicate with your team and pay around $10 or $20 a month per one person, I would recommend you to switch to Telegram, which is free and has an app.
(6) EXPLORE STIMULUS PACKAGES. They look really generous. If you are in the US, I would totally explore what you can get from it.
This video is sponsored by GetResponse
Time codes:
0:17 What is going on with my business
2:21 The reason you shouldn’t hire developers
3:35 About GetResponse
5:02 The pros of outsourcing
5:55 International contractors vs. local contractors
7:03 Go live and create webinars
9:33 The best app to communicate with your team
10:31 Explore stimulus packages
11:01 Productivity tips
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#Business #OnlineBusiness #OnlineBusiness2020
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What's going on with your business nowadays? 💼
Time codes:
0:17 What is going on with my business
2:21 The reason you shouldn't hire developers
3:35 About GetResponse
5:02 The pros of outsourcing
5:55 International contractors vs. local contractors
7:03 Go live and create webinars
9:33 The best app to communicate with your team
10:31 Explore stimulus packages
11:01 Productivity tips
Marina! Olia told me about you 🙂 love your videos, just became financially independent was on disability whole life until a month ago! Starting my podcast and online business want to inspire and teach others, would love to talk to you
GREATS
Yes marina I also want a video about how teenager can start a business
love your vids! this one is also fantastic!
It is really helpful in this pandemic
thanks for get a strat waye
Yeah, I have planned an online classes for my juniors in TEFL now confused to start or not
(1) DON'T HIRE DEVELOPERS: Hiring a top notch developer is not one area you want to be cheap on. Not hiring a developer only works until you lose mass revenue because of an internal bug in your website. Even better is when your website gets hacked because you use a generic landing page (whose security holes hackers are expert at exploiting), and all your customers' credit card info is stolen. It's byebye business when that happens!
What's gonna happen then with SMMA, are they gonna die?
Have you ever heard of ''native speakerism''? Do you know who David Crystal is? It's 2020 Marina, that's an old-fashioned perspective.
Helpful
Brilliant speech! Love your channel!
Hello marina i m so excited for your videos makes me inprove my skills on buisness industry .But i have a problem i have a website new and i want to know how many chances had to open my buisness now because the situation of the coronavirus crisis we dont have a jobs open in cyprus .. 🙂
I'm and my team stuck in Slack. Hard to change it now. ))
I really really loved your videos especially this one coz it really gave me a eureka moment to start something new with my dad during this quarantine.
Thank you so much for making these videos.
Stay blessed and I really hope you grow both spiritually and professionally in your life😊
I will definetely use your recommendations!
Nice watch
Do you have interactive English courses business could help be?
Thank you very much Marina! Nice video!
Very good, so how is that possible?
My business is going very bad regarding the circumstances, however, I am still keeping and paying my employees that they have families, because as business owner it is time to solidarity and union ! Even that affect my personal income, but how knows that we can live till tomorrow
Hi marina mam, iam from india.. An i hv been working i need a online part time jobs…so please suggest us some good jobs mam…..
I closed my hotel in Uzbekistan, Tashkent. (
this is Rajesh from India, well said!!!!!, keep going and growing
👍😁
Great…
How to run in online business on 2020.Just buy a phone and start doing💸💸💸
thank you for your idea
Great video.👍
Good Advice
hello Marina!!! i am happy to find your videos, i am studying for the TOEFL and i began watching your video of toefl tips but now i am more interested in opening my own business than to study english hahahaha ….. i am mechanical engineer i was working in the construction area with all the problems now most of the projects have been canceled, so i want to become an entrepreneur in any area, i am looking your videos to set a list of things i could do and that would like to do and make a plan of how to begin thanks for your videos.
I just started my YouTube channel and I see it as business and a brand.
@soliconvalleygirl Hi Marina! What do you know about San Francisco, Santa Clara, Silicon Valley public school? How are they for a teacher? I am thinking of moving there from Canada and have been teaching for many years here. Basically qualified KG until grade 10, especially in French Immersion but am specialized to teach any subjects till grade 8, including Special Education, and English till grade 10. Need an advice on where is best for a teacher.
Can you help me to speak English
Do people use Telegram in USA?
Very interesting info here!
Lots of opportunity and I think COVID-19 will have accelerated some of the changes we will begin to see very VERY soon!
My business is slightly affected at the beginning of this pandemic. But as time goes by it turns out it’s actually growing. Since my business is to help people sending their money abroad online from Indonesia. I’m grateful for my business but I truely hope this pandemic will get better soon.
This is great thank you.
Great Content . I have subscribed to your channel 🙂
I have no idea how should I do, I still from Burma. I getting the tragedy time right now, could you please if you have some suggestions.
I'd appreciate you..
What would you do right now if you were a fashion designer and you would be interested more in providing online service rather than a product itself?
I really value your "monetising" approach towards any kind of profession/skill set. Do you think that it can be a long term strategy for one's business? As a content consumer more than a content producer, I feel really tired by every brand/influencer/youtuber shouting on me to consume/buy even more. No matter if it is a product or service. Especially now, in the era of pandemic, it doesn't feel that relevant and honest and this is something I am really seeking right now. What is your opinion?
You are so careful 🌸
I am finally financially stable
Thanks to Debtsoff on iG