Tell me about that.
you get traffic to the site?How did you deal with wedding planners to get more business?Tell me more about your background and experience. What technical errors did you make along the way?How did you identify your shopping cart sales funnel was having issues?What mistakes did you make early on with products?Why not get the product from the U.S.? Inform me about the procedure of recognizing this was an effective business?How are things now? Are you still working?See complete records by clicking program Invite to the Part-Time Cash Podcast, Episode 10: Making Money with an Online Store. Alright, today I am here with Steve Chou of MyWifeQuitHerJob.com. Steve I am familiar with, in the past I.
have had some interaction with, and I have actually enjoyed his site, however I wanted to talk to him today about making part-time money. He and his partner started an online store a few years back, and she dealt with business part-time while raising their very first child. From what I comprehend, they were able to bring in over $100,000 in profits in their very first.
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year of organisation, and so certainly they were doing something right there. So, we are going to learn something today about establishing an online store and how you can enter that service. That is when I sort of begun worrying a little bit due to the fact that we live in the Silicone Valley, and the cost of living here is actually high. My partner at the time was making $100,000 which is a respectable wage. ecommerce. If she were to stop her task, we would have basically lost almost half of our family income.
Pretty much as soon as she became pregnant, we began researching manner ins which we could earn money on the side. what is e-commerce. So, what we did was we type of settled on an online shop, something that my spouse might run from the conveniences of home while looking after our child.
Within a year we managed to make over $100,000 in profit in fact which basically supplanted my better half’s income. At that point practically once she took her maternity leave and got her annual perk, she quit her job. Now she basically runs the shop in the house. We have a couple workers come and assist, but basically she only works a few hours every day, so it is ideal.
So, obviously I comprehend the need there, and it seems like you were rapidly able to replace that income. What was it about an online store specifically? You discussed that was something she could do from home, but did you have any experience in running an online shop? Did you have a pal who understood how to do it? What was sort of the motorist behind that choice?Steve Chou: So, I really had no idea how to run an online store.
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I had no concept how to toss up a site. Philip Taylor: Wow!Steve Chou: However, when I was a kid I always wished to run a store. I believed it was cool. In fact so did my wife. We were thinking about doing affiliate marketing which sort of thing, however provided our timespan I did not feel like we could make a considerable quantity of money within a year by the time she stopped.
It is not as passive as affiliate marketing, but there are a lot of advantages to having your own real organisation. That is what made it attractive to us. Philip Taylor: Okay. I see. Now, calling it down a bit deeper, what made you select the specific niche of the store or the kind of shop that you chose?Steve Chou: Oh, alright.
She is actually into wedding events. Anything that pertains to a wedding event, she checks out. She still reads Brides publication despite the fact that we have actually been married for a long time now. So, I remember when we got wed, she wished to buy a handkerchief so that when she sobbed at the change she would have something there to dry her tears.
So, what wound up taking place was we ended up importing a batch of scarfs just for our wedding event. We purchased a lot so we could have 1 or 2 for the wedding and the bridesmaids and the bridal party. After that because they are so difficult to discover we decided simply to offer these online.
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That is probably one of our successful products today. Philip Taylor: Awesome! So it is a handkerchief for ladies, right?Steve Chou: Ladies and males actually, and you can really embroider the bride-to-be, groom, and wedding event date on it or the initials, so there is an amount of customization involved as well.
I in fact considered that present to my groomsmen at my wedding also. Steve Chou: Oh really?Philip Taylor: A scarf with, I think, the date and their initial or something like that. Steve Chou: Yeah, it makes a truly nice keepsake really for your wedding. Philip Taylor: It was type of a timeless gift too.
So, tell me about then the initial phases of what tools or resources online did you rely on to establish the site and handle the acceptance of charge card and all this. dropshipping. Steve Chou: Yeah, so at that time actually there was not as much complimentary software application as there is today.