191: Steve Chou, Founder of MyWifeQuitHerJob.com

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.7 • 1.9K Ratings

🗓️ 21 July 2015

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Back in 2007 our guest today Steve Chou and his wife Jennifer found themselves in a position that many couples face. Jennifer found out that she was pregnant, and with their growing family came greater financial concerns. Neither Steve nor Jennifer were happy with their jobs, and were stuck in a routine of complacency: drag yourself out of bed, go to work, come home, watch television, go to sleep, repeat. But with the news of the baby Steve became motivated to take charge of his life and provide better financial security for his family – especially knowing his wife wanted to quit her job to become a stay at home mom. He and Jennifer had to find a way to replace her six-figure income; thus they created Bumblebee Linens, an online store for linens for special occasions. The success of the business allowed Jennifer to stay at home while still providing for her family, while Steve kept his day job. He started mywifequitherjob.com to share his experiences and help other families deal with the same challenges. He also has a podcast of the same name, and an e-commerce course on how to create a profitable online store. Steve is a graduate of Stanford University with bachelors and masters degrees in electrical engineering, and currently works for a startup company in Silicon Valley. Three key takeaways: How he advances his business by devoting one day per week to planning for the future. The business idea that he and his wife fell upon as they were about to get married. Finding his audience and clients for his new online course. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	So Money episode 191, Steve Chu.
0:04.0	You're listening to So Money with award-winning money guru
0:08.0	Farnoi Chorabi.
0:09.4	Each day get a 30 minute dose of financial inspiration from the world's top business minds, authors, influencers, and from Farnus herself.
0:18.0	Looking for ways to save on gas or double your double coupons?
0:22.0	Sorry, you're in the wrong place. save on gas or double your double coupons?
0:22.6	Sorry, you're in the wrong place.
0:24.6	Seeking profound ways to live a richer, happier life.
0:28.1	Welcome to So Money.
0:29.2	Hey everyone, welcome to So Money. I'm your host
0:35.0	Farnish Tarabi. It is Tuesday, July 21st, 2015. And I just want to say, remind you all that over the next couple of weeks I'm going to be requesting that my listeners write into me with any suggestions for people who are categorically
0:56.0	millionaires next door. This might be you, this may be someone you know. So
1:01.6	Millionaires next door, I want to do a special week of spotlighting.
1:07.0	Millionaires Next Door, people who have a million dollars of net worth, no debt obviously, maybe a mortgage, but their net worth is a million dollars and more importantly they don't live the quote-unquote millionaire lifestyle that we see
1:24.3	glamorized on television and in the media and all throughout our pop culture.
1:29.7	They're modest, they drive sensible cars, they do what they want to do with their money
1:35.6	and they don't really brag about it. They're interesting people that have interesting
1:40.6	financial philosophies, they worked hard to get to where they are, they have interesting
1:44.4	stories to
1:45.0	stories to share and again this may be you and some of you have already
1:48.6	written in I think it's gonna be fun to do a week of
1:51.6	millionaires next door and I'm thinking that going forward it might be
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Farnoosh Torabi, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Farnoosh Torabi and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.