In the past several years, well over 500 students have joined my Create A Profitable Online Store course. But I have to be straight up honest with you. Not every one who has signed up has succeeded with their online store.
When it comes to the success of any online business, the biggest variable in the equation is always YOU. Do you have the necessary motivation and drive to succeed? Do you have the persistence to push through the initial learning curve? Do you have an open mind for learning?
After teaching my class for several years now, I’ve found that the most important aspect of running an online business is execution and persistence. Can you carry out what needs to be done? And do you balk at the first sign of adversity?
Today, I want to talk about some of the patterns …
My family and I just got back from a 2 week vacation to Disney World in Florida and a 7 day Caribbean cruise that went to Haiti, Jamaica, Grand Cayman, Cozumel and we had a great time!
This vacation was particularly special for us because it was the first time that we left complete control of our online store to our employees for an extended period.
Now we’ve been on short trips away before (2-3 days) but this was the first time that we did not have a good Internet connection on board the cruise ship so we couldn’t even keep tabs on what was going on.
Naturally, my wife and I were nervous as hell. When you own your business and you have to travel, it’s almost like leaving your kids behind. And even though we prepared our employees for several months leading up to our vacation, things did not …
This post was written by Tracey, one of the students in my Create A Profitable Online Store Course. Tracey is my only student in Ecuador and she’s done a fantastic job of selling products that are indigenous to her country.
Because what she sells can only be found in Ecuador, this means that it’s extremely hard to copy her idea and she sells unique products that can not be found anywhere else on the Internet. What I also admire about Tracey is that she came into the class with very little technical knowledge.
But with a little hard work and perseverance, she managed to put together a pretty darn good looking online store selling handmade beaded jewelry. Here’s her story and her shop at ArtisansInTheAndes.com!
I have always dreamed of having my own business. Last year when I made a move from Canada to Ecuador, I found the ideal time …
This post was written by my good buddy Jim Wang, who sold his blog Bargaineering.com for over 3 million dollars. Yes you read that correctly…3 million bucks.
And remember how I’ve mentioned in the past that it’s important to attend conferences? Well Jim and I met in the elevator during the 2012 financial blogging conference and we’ve kept in touch ever since.
(Incidentally, tickets for the next Fincon just went on sale. Click here to get your ticket and let’s meet up in person!)
Here’s how our first meeting went down.
Random Girl Standing Behind Me In The Elevator: (Whispering) Oh…my…gawd…That’s Jim Wang.
Me: Who the hell is Jim Wang?
Random Girl: Heeelllllo?? Jim Wang…the man behind Bargaineering.com???
Me: Ah….ok. My bad. Looks like a regular Asian dude to me. Why is he wearing sweatpants to the mixer?
Random Girl: TCH…whatever (turns away)
Me: Hey Jim. My name is Steve. Long …
As I mentioned in my last post on How I Made Over $300K These Past 2 Years With An Email Autoresponder, MyWifeQuitHerJob.com made more than my day job salary this past year.
And as a result, a seed has been planted in my mind. Would I ever give up my tech career to blog full time? What does blogging for a living really feel like? Is blogging something that could keep me happy in the long run?
Unfortunately I don’t have all of the answers to these questions but luckily I do know many people who blog for a living that I can ask.
So to get some perspective on the life of a full time blogger, I decided to bring my friend J in today for an interview.
J is someone I met at the Financial Blogging conference and he runs the popular blog BudgetsAreSexy.com.
Now I’ll be straight up honest …
While our online store has been the main cash cow in our family, over the years MyWifeQuitHerJob.com has also become a significant portion of our household revenue.
2 years ago, I reached my first major blogging milestone by finally breaking the six figure income barrier after 4 long years of slogging away.
That’s right. It took me 4 painful years of writing consistently to reach that point and I often questioned whether it was worth the effort in my post on How Much Money Do I Make Blogging And Is It Worth My Time?
The good news is that cracking the 6 figure mark was not a fluke and the blog did even better this past year. In fact, I finally made more with my blog than with my day job which was an even bigger milestone for me.
And if you consider that I only spend roughly 5 hours a week …
In my mid year income report that I published in July, I mentioned that the first half of 2013 was extremely challenging for our online store.
Google traffic was down. We had a bad month of February due to inclement weather. Our year over year revenues ending in July were only only up by 12%. But you know what? Facing some adversity turned out to be a good thing for my wife and I because it woke us up from our complacent slumber.
We stopped coasting along and became determined to find new ways to extract profits from our online store. Therefore the theme for 2013 became the year of revenue diversification.
Not only that, but we also put more infrastructure in place to further remove ourselves from the day to day operations and to focus more on customer acquisition.
New Traffic Sources
As I mentioned in our mid year …
2013 is over and I’m pleased to announce that both my blog and my online store had another record year in terms of revenue.
While I’ll be publishing the year end income reports for both sites in the coming weeks, today I wanted to focus on some of my favorite content that I published in 2013.
In case you haven’t noticed, I made a decision in the middle of 2013 to post less often but personally write all of my articles. As a result, I ended the relationship with my staff writers and made a conscious effort to make my blog more personal.
This decision was motivated by several factors. For one thing, I noticed that the posts that I personally wrote always attracted more engagement than the posts written by my staff writers.
Now that’s not to say that my writers put out poor quality content. But I’ve come to …