Entrepreneurship

Student Story: How Lauren Makes 6 Figures Selling On Amazon And Her 2 Prong Approach To Ecommerce

This post was written by Lauren, a student in my Create A Profitable Online Store Course. One of the basic tenets of my course is to validate your niche or product idea on an established marketplace like Amazon before investing in a full blown shop. And as part of the class, I offer detailed tutorials on how to make your Amazon listings stand out and sell like crazy. Anyway when Lauren launched her first product on Amazon, it took off so fast that she’s on track to make 6 figures from just a single product alone! Needless to...

Here’s What Adding Payment Plans Did To My Info Product Sales – The Good, The Bad And The Ugly

When I first launched my Create A Profitable Online Store Course in 2011, the price was only $299. But as I continued to add content to the class and as the value of the course continued to rise, I began raising prices as well. Today, the cost of my class stands at $799 and it’s likely to increase again in a couple more months. Here’s the thing. Whenever you sell an expensive product, there are always going to be people who will be intimidated by the price tag even if deep down they know that the cost is worth the...

How To Start A Business When You’re Clueless With No Money. Here’s What I’d Do…

Whenever I have a conversation about entrepreneurship, I often find that most people have a strong desire to start a business at some point in their life. But here’s the thing. While the desire is there, it’s often the lack of confidence and the uncertainty of the outcome that prevents most people from taking serious action. In fact, I would go as far as to say that most people are not willing to take any risk at all unless they are confident that they will succeed. I was the exact same way. To be honest, selling handkerchiefs...

My Thoughts On Jealousy, Inadequacy And Finding Work Life Balance

I have a love hate relationship with Facebook. On one hand, Facebook allows me to keep in touch with and keep track of what my friends are up to. But on the other hand, I’ve had many a Facebook session where I’ve left with a healthy dose of jealousy and feelings of inadequacy. Oh look! the company that my classmate at Stanford started just reached 100 million in sales! Wow! My friend R is really living it up by travelling the world! Geez! I’m the worst parent ever. Look at all the cool stuff my buddy J is...

Pai Gow Poker And My Own Personal Formula For Financial Success

If you ever go with me to the casino, you’ll often find me playing cards at the Pai Gow poker table. Now Pai Gow is definitely NOT the sexiest game at the casino, nor is it one that draws a huge crowd. But those who appreciate Pai Gow love the game for its simplicity, its longevity and its potential for a large payout. In fact, I love the game so much that I’ve pretty much modeled my entire entrepreneurial career based on a simple card game. Here’s what I mean. How Does Pai Gow Work Below is a...

How To Do A Small Scale Kickstarter Project The Lazy And Crappy Way And Still Make A Profit

This post was written by Lars Hundley, who runs several ecommerce stores and recently started launching Kickstarter campaigns for his products. What I like about Lars is that he’s constantly trying new things and he’s here to share his Kickstarter experiences with us today. Incidentally, Lars and I share very similar philosophies. You don’t have to swing for the fences. You can simply go for base hits which eventually lead to something bigger. Enjoy the post. Do you want to have the coolest Kickstarter of all time, or do you simply want to make a reasonable amount of...

How Much I Made Blogging And The Actions I Took To Double Revenues This Past Year

My wife just closed the books on MyWifeQuitHerJob.com’s earnings, and I’m thrilled to say that 2014 was a blowout year for my blog! Whereas in early September I was forecasting revenues in the range of $300K, a late year surge including a single magical day where I made over $35,000 in 24 hrs allowed me to significantly exceed that number. Here are the highlights for 2014. Year over year traffic increased by 66% The MyWifeQuitHerJob podcast launched to over 30K downloads per month My email list more than doubled despite a cleanse of several thousand inactive subs I increased the number of...

How To Get Fit, Start A Business And Follow Through On Your New Years Resolutions

The beginning of the year is when most people make grand promises of change and set goals for what they hope to achieve. I promise to workout 5 days a week and get fit This is the year where I will finally start my business I’m going to lose 20 pounds But we all know what ends up happening. While our intentions are good and we start out strong, our intensity tends to fizzle out over time. Those with willpower can last for several months, but most of us are weak and we can’t maintain our promises for more than a couple of weeks....

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 on Black Friday and Cyber Monday 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 3 bucks which is pretty insane. So realistically speaking…Do you have 3 bucks to spare on something that could potentially change your life? There really is no excuse...

Why Artists Fail In Business And How To Go From Artist To Entrepreneur

This post was written by Arree Chung, one of the students in my Create A Profitable Online Store Course. What’s cool about Arree is that he’s a professional artist who writes and illustrates his own children’s books. Plus he’s Asian too. (I have absolutely no idea how he convinced his parents to go along with this:)) Anyway, Arree and a group of his friends launched LiveInAStory.com, a site that sells high quality children’s wall decals designed by artists. He’s got a great story and offers incredibly actionable advice for struggling artists. Enjoy! Everyone knows the cliché of the...

How Small Actions Lead To Big Gains And Why I’m Proud Of These Student Shops

If you’ve ever read a blog or publication on entrepreneurship, you’ve no doubt heard the following sayings to describe starting a business. Starting a business is like… Taking the plunge. Taking a giant leap of faith Taking a chance on an idea. Now I full on admit that I’ve been guilty of using these phrases in the past. But over the last few years, I’ve come to realize that perhaps “taking the plunge” is the wrong way to think about starting a business. First off, taking the plunge sounds way riskier that it really is. It comes across as scary,...

The Most Comprehensive Podcast Tutorial Ever – How To Start A Podcast In Under 2 Hours

When I first decided to start my own podcast, the benefits were already clear in my head. I already knew that having a podcast would expose me to an entirely new audience I already knew what I wanted to say and how I was going to run it I already knew that that I wanted to get started as quickly as possible But here was the problem. I had no idea about the mechanics of how to start a podcast. I had no idea how to postprocess audio in order to make it sound great. I had no idea what equipment to buy. In addition,...

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...