078: Steve Chou | How to Start a 6-Figure E-Commerce Business


Do you ever feel “complacent” in your life? Kind of like everything just “blah”?

Steve Chou felt that way. Five years ago, he says he and his both felt like they were “going through the motions” in life, without living life with any particular passion.

They both had jobs, but Steve’s wife hated hers and she wanted to quit. However, they lived in an expensive suburb of San Francisco and they knew they couldn’t survive on just one income.

Then, Steve’s wife got pregnant. They knew they had to act quickly.

ecommerce-businessThey decided to start a small niche ecommerce online store as a way of replacing his wife’s lost income so she could quit her job when the baby was born.

Flash forward 12 months, and that small ecommerce store had become a six figure business.

The new business allowed his wife to quit her job and today that side business earns far more than what his wife used to make from her full-time job.

Steve then took that experience and starting blogging and podcasting about how to create an ecommerce store. Today he trains others how to start up and grow an ecommerce store. That business actually earns far more than his day job.

In this episode, we talk about:

  • The key relationships that Steve established which were critical to their new businesses’ success in its first year
  • The script he used to turn cold calls to prospects into their first crucial customers
  • How he developed relationships with their initial customers and the little “trick” he used to turn customers who were upset and about to walk away into customers for life
  • How he builds relationships with other bloggers and podcasters today
  • The tool he started using in his business that took him from a self-described “hermit” to having a really well connected network today
  • The reason why he says it might not be a good idea to quit your day job even if you have a side business that earns much more than you do in your full-time job.

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Now, enjoy this episode with Steve Chou.

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Transcript of Interview:

Transcribed by GMR Transcription