Entrepreneurship

What This One Tea Shop Did Differently To Make Me A Long Term Customer

Several years ago, my wife and I made a conscious effort to remove sugary drinks entirely out of our diets. No more high fructose corn syrup. No more Boba milk tea and no more delicious milkshakes. For my wife however, cutting out sugar was particularly difficult because she hates the taste of water. (Given that water is tasteless, I personally don’t see how you could possibly “hate the taste” but that’s a topic for another discussion). Anyway when we’re not drinking water, we both drink a lot of tea because it tastes good and there are 0 calories...

What Everyone Should Know About Starting A Business Vs Working A Day Job

If you read a lot of business and entrepreneurship blogs like I do, you’ve probably noticed that almost every article out there glorifies quitting your day job. Quit that soul sucking job of yours and call your own shots! Why work for someone else when you can be your own boss? Fire your boss and live happily ever after. Here’s the thing. Even though my blog is called “My Wife Quit Her Job”, I’m actually not “anti day job” at all. In fact, I’m a strong proponent of working full time for someone else if that’s what makes you happy. And I can...

Why Only Selling On EBay, Amazon And Etsy Is Like Gambling

I’ve been getting a lot of questions lately about why you should start your own store from complete scratch when there are marketplaces out there like Amazon, Etsy and EBay that can offer you instant sales. And it’s true. If you choose to sell a popular item on Ebay for example, chances are that you will be able to generate some revenue. And it’s also true that many people are making pretty decent money on platforms like Amazon and Etsy as well. So with that being said, why the heck would you ever want to own your own store? ...

Income Report: How My Blog Performed As A Business In The First Half Of 2014

Back in 2009 if you asked me whether I thought my blog could ever make more money than my day job, I would have said “Hell No!”. In fact, my Mom is still amazed that MyWifeQuitHerJob.com is able to make any money at all. Just the other day, I had a Skype chat with my mom and she was like… Mom: Let me get this straight. People sit at their computers, click on your ads and you make money? I still don’t understand how that works. So can you just sit at home all day...

How I Made A Million Dollars By Reading An Article In The Wall Street Journal

This post was written by my good buddy Lars Hundley, one of the most experienced ecommerce entrepreneurs that I know. He runs a bunch of ecommerce stores and today he has an inspiring story to share with us. Maybe you’re thinking about starting your own ecommerce store, but you don’t have any “good ideas.” Today I want to show you how million dollar ideas are everywhere. And I mean that quite literally. Heck, I once got a million dollar idea by reading an article in the Wall Street Journal. Let me explain. It was 2002, still the dark ages of ecommerce. I had...

How To Launch The Number One Ranked Podcast In iTunes Without A Huge Following

There I stood, hovering behind my computer monitor and nervous as hell as I prepared to hit the “publish” button on my brand new podcast. Here’s the thing. I had already told all my friends that I was starting a podcast. I had already told the readers of my blog that I had something in the works. And I even had a special “podcast” tab in my menu bar which said “coming soon”. There was no going back. And in the back of my mind, I was thinking to myself…. “What if I launch and no one...

Why Beginners Fail And What Successful Online Store Owners Do Differently

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...

Student Shop – How Tracey Created A Profitable Online Store Selling Fair Trade Jewelry

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...

How A Failed Website Led To A 7 Figure Payout And Why You Need To Start A Business Today

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...

This One Simple Tip Will Change The Way You Think About Starting a Business

It’s human nature. Whenever you want to learn a new skill or achieve an important goal in your life, your first instinct is to look for the easiest way out and the quickest way to get there. Unfortunately, this mentality is embedded in our DNA and I’m not immune to it either. Sometimes I still find myself looking for the “get rich quick” solution even though I’m fully aware that change requires hard work and dedication. For example when I was going for six pack abs, I spent a lot of time researching magical “muscle shakes” and “secret exercises” designed...

How 12 Seconds On The NBC Today Show Blew Up Sales And How We Prepared For The Traffic

12 seconds….That’s all it took… 12 minuscule seconds of being on television and the traffic and order volume for our online store completely blew up! This past week, our online store Bumblebee Linens was featured on NBC’s Today Show and it was quite possibly the most exhilarating 12 seconds that I’ve ever experienced as long as we’ve been running our business. The Today Show Clip At first my wife and I weren’t sure exactly how many visitors we were going to get from being on television. In fact, I was quite skeptical that being on tv was going to generate...

Cheapest Way To Start An Online Business | Take Advantage Of These Killer Deals

While it’s always a good time to start an online business, the least expensive time to do so is when there are great deals to be found. Many tools and services like webhosting, niche research software, vendor tools etc… are being discounted extremely heavily to the point where it’s a no brainer to sign up. For example, you can literally start an online business for under 5 bucks which is pretty insane. So realistically speaking…Do you have 5 bucks to spare on something that could potentially change your life? There really is no excuse not to give it a try....

How To Suck Less At Business, Sales And Marketing

Several weekends ago, I decided that I was finally going to teach my daughter how to ride her bike all by herself without any training wheels on. And I was super excited about it. Ever since I became a new Dad, I had dreamed about this fairy tale moment where I would teach my daughter how to ride her bike for the very first time…And it was going to be magical. I would hold her seat and handle bars, give her a gentle push and then watch her glide off into the sunset as she learned to balance herself on two...

What A Six Pack Taught Me About Starting A Successful Online Business

6 pack abs. It’s something that most guys want but will rarely achieve in their lifetime. For me, I’ve wanted a 6 pack since I was in high school but was never able to quite get over the hump. Even when I was playing junior olympic volleyball and in the best shape of my life, I was still sporting a “keg” with almost zero definition. No matter how hard I trained and no matter how much I exercised I could not for the life of me lose my stomach fat. But ever since other bloggers like Jeff Rose, David...

FinCon13 Recap: Why You Are Missing Out If You Don’t Attend Conferences

I just back from my second financial blogging conference(FinCon13) and it was a blast! Unlike last year when I attended as a spectator, this year I decided to bite the bullet and give my own talk. (Special thanks to Phil Taylor for giving me the opportunity to speak). FinCon13 was my very first speaking gig and despite some early jitters, I went through my presentation without a hitch. My greatest fear was that I’d be speaking to an empty room but thankfully my speech was well received and the room was packed. Anyways, once the recordings become available, I will post...

How To Become Less Busy And More Productive

As human beings living our hectic lifestyles, we are all “busy”. I get it. We all have activities and deadlines that need to be met. We all have stuff that needs to be taken care of. But there are some people who I come across that seem to be “busy” all the time. For example, how many times have you heard the following phrases? I’m so busy all the time that I’m just barely keeping my head above water I’m so busy all the time because I’m getting buried with work I’m so busy all the time because I’m constantly...

Student Story: How Sandy Created A Profitable Online Store Selling Kimono Robes

This is a post written by Sandy, a student in my Create A Profitable Online Store Course. Sandy signed up for my class without knowing anything about website design or how to run an online business. But despite her lack of experience, she managed to find her niche, source her products, create her website and launch www.GetUnrobed.com in a relatively short amount of time. After getting to know Sandy this past year, she has become one of my favorite students. Why? It’s because she has a great attitude and she’s always willing to improve herself and try new things. As...

An Online Business Or A Day Job: Which Income Source Is More Stable?

Today, I wanted to talk about an interesting conversation that I had the other day with my good friend Rebecca (not her real name) about income stability. This past year, she was laid off from her job at a private consulting firm. And it happened so suddenly that she didn’t really see it coming and was left completely unprepared. She didn’t have a backup plan. She didn’t have another job lined up. And while she had a reasonable amount of savings in her bank account, her lifestyle was calibrated towards a high paying professional salary. Because she was reluctant to...

Building on What You Have And The Key to Business Growth

Being in business for yourself opens up a world of opportunities. You can seize the opportunity to build something that can sustain itself (and you) for a lifetime and even beyond. You can change your life and achieve things that you never thought possible. But if we take a more pessimistic viewpoint for a moment, being in business for yourself can also be a grueling and largely fruitless endeavor. Even if you do manage to establish yourself to a point where you can pay the bills, you may find growth beyond that point extremely challenging. And who wants to run a stagnant business...

6 Simple Tips To Ensure Your Online Store Makes Forward Progress

I love teaching my course on how to create a profitable online store because I get to interact with a diverse set of students with varying skill levels and personalities. Some students pick things up right away and make lightning fast progress. Other students struggle big time and have to inch and claw their way towards forward progress. Everyone has their own strengths and weaknesses. And after teaching my class for the past several years, I’ve concluded that a student’s chances for success have more to do with their attitude and productivity habits than with their overall skill level. For example,...