2016 Income Report: How Our Online Store Performed This Past Year

My wife just closed the books on our online store and I’m happy to say that we achieved double digit growth yet again. And the fact that we’ve maintained double or triple digit growth for the past 9 years continues to amaze me! As I mentioned in my mid year report, 2016 was all about improving my online store and I spent most of my free time on strategies to increase sales. The only problem is that I didn’t have as much free time as I would have liked. Even though I planned on quitting my job on June 1,...

Income Report: How I Made Over One Million Dollars Blogging In 2016

My wife just closed the books on MyWifeQuitHerJob.com for 2016 and I’m happy to say that I hit 2 major milestones this year. First off, I reached the magical 7 figure revenue mark for my blog. And second of all, I finally quit my day job as a hardware engineering director last June. Of the two milestones, quitting my job was especially difficult for me and I ended up announcing my resignation a bit prematurely when I wrote about it on the blog:) Here’s what ended up happening. Because I’d been with my company for 17 years,...

What Amazon Doesn’t Want You To Know About Running An Ecommerce Business

You’ve probably heard the popular saying that “if you teach a man to fish, you can feed him for a lifetime”. And if you apply that same saying to business, you get… If you rely on a single company for all of your sales, then that company owns you. Every time Amazon changes one of its policies, I always get a flood of emails from people who have had their businesses completely ruined. Just the other day I had a reader email me that he invested $200K in inventory for the holidays when Amazon suspended his product listing. Now he...

3 Ecommerce Conversion Killers I Discovered While Answering Calls On Cyber Monday

Sometimes you spend so much time trying to increase your traffic and grow your audience that you lose track of the most important element of your business, your customers. As many of you know from my last post on How Our Store Performed On Cyber Monday, we had so much traffic and sales that day that I had to personally man the phone lines. And to be frank, it was the first time that I’d run customer support in over 5 years. Back when my wife and I first started our online store, we always answered every call and phone...

How We Did On Cyber Monday And A Holiday Gift Guide Of Student Shops

I hope everyone had an incredible Black Friday and Cyber Monday. For our online store, things got so busy on Cyber Monday that I was forced to man the phone lines. So I put on my “customer service agent” hat and headset and proceeded to talk to over 30+ people during the course of the day including one epic 40 minute conversation where I had to teach an 80 year old lady how to surf the web. **sigh** But it was all worth it in the end because we ended up with one of the largest sales days ever besides the...

The Best Way To Find Vendors And Suppliers For Your Online Store

The number one question that I receive from readers who want to open their own online store is how to go about finding vendors and suppliers. Do I purchase wholesale? Should I drop ship or should I contact the manufacturer directly? When my wife and I first started our online store, we faced these exact same questions. But having done a fair amount of research on each of the options above, I’d like to talk about our experiences and our take on each of these ways to stock merchandise for your online business. While our experiences...

How To Approach A New Wholesale Vendor Or Supplier When You Have No Store, No Site And No Sales

Picture this scenario… You’ve put together a list of potential vendors that you want to work with either from a tradeshow or from a manufacturer’s distributor list. You’ve never purchased in bulk before. You don’t have a website or a domain and you are extremely apprehensive about contacting your vendors for the very first time. So what do you do? You stall… A voice inside your head tells you…Maybe I should put up a website first. Maybe I should start a corporation or an LLC. Maybe I need business cards:) But in reality, you should be...

5 Painstaking Lessons Learned From Managing Inventory and Cash Flow The Wrong Way

Recently, my wife and I moved our ecommerce store into a brand new facility and it was one of the most stressful experiences that we’ve gone through in awhile. Now moving is always a pain. But just imagine running a business and trying to fulfill orders while thousands of pounds of inventory are in complete disarray with linens littered all over the office. On top of that, imagine that you have 4 employees who you must manage efficiently in this environment to move product out the door. Now my wife and I didn’t really want to move, but a...
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