842: Startup Essentials: Start and Manage Your Own Business with Alex Genadinik

Are you concerned about the numbers in your business? What are the key areas in which you should concentrate your efforts in order to grow your business? Perhaps one of the reasons you started your business was to make a difference in the world, providing and assisting people with their needs.

Alex Genadinik is a top 1% Udemy instructor, teaching business, marketing, productivity, and professional skills. With over 500,000 students and 125 courses, he is a prolific creator, having also published 15 books on Amazon and amassed over 2 million views on YouTube. Today, Alex shares his journey of scaling back peripheral activities to focus on his core Udemy business, as well as his exploration of new frontiers like the Metaverse and NFTs, balancing experimentation with prioritizing what's working best.

Quotes

“If you don't try new things and keep your head down just working, which is what most of us usually do, you will miss the new Bitcoins, the new Metaverses, the new trends. That's where, not always but very often, the rewards are very disproportionate.” - Alex Genadinik

“If something is working, really give it a great effort because it's super competitive. If it's not, it's going to be, and you're going to get ahead.” - Alex Genadinik

“If you have a lot of these kinds of things, at some point, it becomes this focus, and it's really damaging. This is exactly the antithesis of where we started, where it's like, let's do 80/20 of really good focus.” - Alex Genadinik

Takeaways

07:38 Focusing on forward-looking, unique topics can be more profitable than competing in saturated, low-barrier-to-entry markets.

11:46 Adapting to the changing dynamics of established platforms like Amazon is crucial, as they may become less profitable over time.

17:31 Identifying and pursuing new, emerging opportunities can provide significant growth potential, even if the current landscape is uncertain.

25:59 Balancing experimentation with prioritizing what's working best is crucial for business growth, requiring dynamic decision-making.

31:22 Pursuing creative passions like music can be the hardest challenge, but also the most rewarding if the product truly resonates with the audience.

Resources

Podcast: Play in new window | Download (Duration: 40:25 — 55.7MB) | Embed

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Filed in: Archive 4: 2020-2023 • Interview • Podcast

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