All language subtitles for 4. Ways To Profit From Coronavirus with Your Existing Business

Growing the virus is a terrible situation but it also provides a lot of opportunity to make money over

rock and I don't want to promote ripping people off by selling facemasks for fifty dollars apiece online.

I think entrepreneurs in this situation have the ability to help to provide the right products that

people need and want in this situation.

And yes to charge a fair premium but to not rip people off and too much exploit the situation.

So being fair and being humane goes a long way and I'm sure in the long run this would pay off way more

for you than ripping people off over the face masks in general in this video.

I'm not going to focus on the stock market but only anything related to Amazon and also more so focus

on existing businesses and we have a separate video and the beginner section that gives some advice

on what you could do if you don't have a business yet.

So for those of you that already have a business you're pretty much stuck with the product you have

at this point and unless you want to start sourcing the new product and maybe adding to your brand or

maybe you sell general products anyway then there are still opportunities for you to utilize the situation.

Recently we have seen that since so much stuff is on a stock.

People stopped buying other stuff and repurposing it to use in this scenario.

So for example people started buying swimming goggles to protect their eyes from the virus.

So as a seller of swimming goggles knowing that people are already doing this you could give more people

the idea that this is a potential solution.

So take this into account in your advertising and maybe people didn't get the idea yet that your product

would be useful in this scenario.

So rethink the purpose of your product.

For example if you're selling spray bottles for the garden maybe they'll spray bottles could be used

to disinfect areas in the home.

You should also consider who you're selling to.

Let's stick with the example of the spray bottle for the garden.

Maybe you've been selling to people that do work in the garden but you could also consider large companies

are now cleaning the offices and they need to cover large surfaces and those people need tons of supplies.

So it would be an option for you to not only sell to your original customer but shift your customer

to businesses that now needs spray bottles.

So just trying to think outside the box and adapt to the situation.

Of course this is not possible with every single product out there but I'm sure you can come up with

creative ways why people would need your product in this specific situation and also consider the self

isolation.

If you're selling games right now it's a great time to sell because potentially people are about to

be quarantined for a while and what are they gonna do if they are at home all day.

But people might not be thinking about this yet so you need to open their eyes and help them prepare.

And I strongly urge you to do this in a positive manner and to not use fear to get people to buy your

product.

However certain products we can repurpose and the demand is just naturally going to fall in a time of

crisis.

For example luxury products have a high likelihood of falling demand.

If that is the case for you go and check out the other video where we tell you about how to prepare

your business for time where you might not be making as many sales or why even your business might be

fully closed.

And if you think the demand for your product is going down and you have a lot of employees that are

sitting idle maybe consider sourcing some other products coming up with some other idea and maybe helping

people in some way go through this crisis.