PTM 010: Making Over $100K Big Ones with an Online Store

PT's podcast this time is an interview with Steve about how he and his wife have earned extra income with an online store. Steve's wife quit her job to stay home with their kids, and she's been earning extra money ever since with their own online store.

In today's episode, I speak with Steve Chou of MyWifeQuitHerJob.com. Steve is the online authority when it comes to putting together an online e-commerce store as far as I'm concerned.

Motivated by the expectation of their first child, Steve and his wife started an online store selling wedding linens back in 2007. The store was able to bring in over $100K in profit in the first year.

Part Time Money PodcastHe still maintains his corporate career (because he loves it!) and his wife is able to stay at home with their children and tend to the store part-time.

Back when he started, he didn't even know how to write HTML code. But he was able to learn the ins and out of building a successful online store. He shares his knowledge with us today in the podcast.

Listen to the Podcast

Play

Online Store Owner Steve ChouHere are some of the questions I get into with Steve during the podcast:

Motivation

What made you want to start making part-time money with an online store?
What was it about an online store that made it doable? Did you have experience?
What made you choose the niche or specific type of store that you did?

Technical Aspects of E-commerce and Inventory

What online tools did you use to create the shopping cart and site back in 2007?
Do you recommend open source software for an online store?
What about the physical products and how did you get them?
What work did you do on the inventory?
How were you experienced in embroidery?

Time and Family Considerations

When did you find time to work on this business?
It's rare that your wife would want to work with you. Tell me about that.

Marketing the Online Store

How did you get traffic to the site?
How did you work with wedding planners to get more business?
Tell me more about your background and experience.

Lessons Learned from Mistakes

What technical mistakes did you make along the way?
How did you determine 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.?

Becoming a Success and Lifestyle Design

Tell me about the process of realizing this was a successful business?
How are things now? Are you still working?

See full transcript by clicking show

Try BigCommerce to Create Your Online Store

While it's certainly possible to DIY your online store's website just as Steve did, you can be up and running with no fuss when you use an all-in-one ecommerce site like BigCommerce.

BigCommerce is a turn-key solution for online entrepreneurs that gives you a number of built-in features, including several marketing options that allow you to find (and woo) your target customers, integrated education to help you make the most of your online store, and excellent loading speed, payment security, and site functionality.

For anyone who would rather focus on their product, marketing, and sales than on maintaining the website for their online store, this kind of ecommerce service is invaluable. You get the beauty and functionality of a website designed by a professional web developer without having to shell out the money for one. Not to mention the fact that you will not have to spend time or money troubleshooting bugs in your website when you use the well-designed turn-keys offered by BigCommerce.

BigCommerce offers a 15-day free trial, and prices start at $29.95/month, making this an excellent choice for a reasonable price.

Learn to Start Your Own Online Store!

As you can tell from the podcast, Steve loves to teach and share his successes. He's offering up a full classroom style course called: Create a Profitable Online Store. I've seen the materials from this course and I can tell you that it's the real deal. Steve provides the specific blueprint to get your store up and making money.

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Last Edited: August 22, 2018 @ 8:21 am
About Philip Taylor

Philip Taylor, aka "PT", is a former practicing CPA, blogger, podcaster, husband, and father of three. PT is also the founder and CEO of FinCon, the conference and community dedicated to helping other financial influencers and brands. He created this website back in 2007 to share his thoughts on money, hold himself accountable, and to meet others passionate about moving toward financial independence.

PT uses Personal Capital to keep track of his financial life. This free software allows him to review his net worth regularly, analyze his investments, and make decisions about his financial future.

PT keeps a portion of his emergency fund in Betterment, the automatic investing tool that makes investing super simple. Betterment focuses on what matters most: savings rate, time in the market, investing costs, and taxes. PT recommends this service to anyone looking to get started investing for themselves.

All the content on this blog is original and created or edited by PT.

Comments

  1. Philip Taylor says:

    Thanks, Jen! So glad this interview was valuable for you.

  2. That was a great interview! I have just set up my store, and running like a headless chicken trying to do everything, listening to the interview’s made me realized I only really need to focus on a few things and do them well. Thank you! 🙂

  3. Thanks for listening, Emily, Jackie, and Bill. Steve was definitely a fun interview. I’m so interested in the online store model. Who knows, I may just have to start one myself.

  4. Austerity Bill says:

    How interesting, as someone looking to increase revenue from websites I found that dialogue very helpful!

  5. Nice. I’ve just started listening to your podcasts and am happy I did!

  6. That’s great info, thanks! It’s so cool to live in a world with so many opportunities to develop passive income, or a high income with part-time hours.