Entrepreneurship

Your Business Failed…But Did You Really Try? Or Did You Just Give Up?

“Oh yeah, I tried being an entrepreneur a few years back but it was just too hard.” “I tried the whole blogging thing but couldn’t get it off the ground” “I tried selling online but every product I could think of had too much competition” I don’t know why, but lately I’ve become increasingly sensitive to people complaining about how things are just too difficult. Whenever I hear statements like the ones above, I can’t help but think to myself… How hard did you really try? How much time and effort did you actually spend? Did you just give up after encountering the first...

Income Report: How Our Ecommerce Store Performed In 2015 And How We Continue To Grow

My wife just closed the books on 2015 for our online store and I’m happy to report another double digit growth year. Can you believe that our little store has grown in the double or triple digits for 8 consecutive years now? I can’t! After all, the products that we sell are very niche and our overall market isn’t very large. But the good news is that the ecommerce landscape is constantly changing and there’s always some new marketing strategy for me to try. As I’ve mentioned many times in the past, I treat Bumblebee Linens like my own...

How To Figure Out What You Should Do For A Living If You Hate Your Job

When I was a kid, I always tried new things just for the heck of it. I never thought about it too hard. I simply went with the flow and followed my interests wherever they took me. For example… I spent one summer reading the encyclopedia all day because I was curious about all of the cool facts hidden in these massive tomes. I spent hundreds of hours creating the ultimate Legend Of Zelda strategy guide on a typewriter. I played Street Fighter II for 8 hours a day so I could beat all of my friends. I spent hours learning how to...

Improving Your Habits And How One Simple Change Can Lead To Business Success

If you’ve been a reader of MyWifeQuitHerJob.com since the early days, you probably remember that I used to refer to myself as a lazy piece of c$%^. Now depending on the person, laziness can have different definitions. To some people, being lazy is sitting around and watching television all day. To some people, being lazy is staying in bed and not getting up until the afternoon. To some people, being lazy is wanting to make a change and not doing anything about it. But to me, laziness is participating in activities that have absolutely zero...

3 Examples Of Short Term Thinking That Will Ruin Your Ecommerce Business

“How long would it take me to become great under you?” he asks. “10 years,” the master swordsman replies. “I don’t have that long,” says the student. “I want to be good soon. What if I worked very hard and dedicated myself completely to the task?” “Ok, 30 years,” he says back. “But that’s even longer,” the student says with some perplexity. “I am telling you I am in a hurry.” And so the master replies, “Precisely, students in a hurry end up taking even longer to learn what is right in front of them.” After teaching my Create A Profitable Online Store Course for several...

Your Ecommerce Business Is Dead Unless You Apply This Long Term Strategy

Recently, I attended 2 back to back online selling conferences and spoke with hundreds of ecommerce entrepreneurs about their main strategies for growth in the coming year. And the one key takeaway from all of my conversations was this… If you aren’t adding value to your ecommerce business, then you probably aren’t going to be around in the next few years. I’ve alluded to this already in my post on The Dangers Of Selling On Amazon And Horror Stories From Real Amazon Sellers and here’s what I’m seeing. Right now Amazon is getting flooded with a bunch of me too products. People are...

How I Achieve Work Life Balance Despite Working Full Time, Running 3 Businesses And Caring For 2 Kids

I recently came across a statistic from Fast Company magazine that really surprised me. According to the American Sociological review, over 70% of employees in the United States struggle with finding a balance of work and play. 70%!?!! Does this number sound a bit high to you? When I look at my life, I find myself having quite a bit of free time on my hands outside of work so it’s a little difficult for me to relate to this number. In fact, many of my readers often ask me how I manage to juggle working full time as...

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 is more than triple the original price and it’s likely to increase again. 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 money. That...

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, making 6...

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 A Simple 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...