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The My Wife Quit Her Job Podcast With Steve Chou

333: How Long Does It Take To Make Money With Your Business With Steve Chou

The My Wife Quit Her Job Podcast With Steve Chou

[email protected]

Marketing, Business, Entrepreneurship

4.81.4K Ratings

🗓️ 2 December 2020

⏱️ 17 minutes

🧾️ Download transcript

Summary

In this episode, I answer one of the top 3 questions that I get asked almost every single week. How long does it take to make money with your business? My answer will probably surprise you:) In addition, I’ll give you a quick update about my store and how COVID-19 affected BumblebeeLinens.com. What You’ll Learn The biggest mistake people make with their expectations A realistic time frame for your business How to make time irrelevant How COVID-19 has affected my business Other Resources And Books Bumblebee Linens Sponsors Postscript.io – Postscript.io is the SMS marketing platform that I personally use […]

The post 333: How Long Does It Take To Make Money With Your Business With Steve Chou appeared first on MyWifeQuitHerJob.com.

Transcript

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0:00.0

You're listening to the My Wife Quitter Job podcast, the place where I bring on successful bootstrap business owners and delve deeply into the strategies they use to grow their businesses.

0:08.0

Today I'm doing a solo episode to answer one of the top three questions that I get almost every single week.

0:14.7

How long does it take to make money with your business?

0:17.8

But before we get into all that, I wanted to give you guys some quick updates about my e-commerce

0:22.0

store over at bumblebee linens.

0:23.6

Because many of you have been asking me about how COVID has affected our business and I'm

0:29.0

happy to say that this past November was the all-time highest month that we've ever had and were

0:34.2

significantly up for the year despite having the worst March and April in the

0:38.0

history of the company. Now the pandemic has really caused e-commerce to

0:41.9

skyrocket and in my humble opinion

0:44.1

there's no better time to be starting an e-commerce business. Now to keep things in

0:48.0

perspective I also want to give you the bad with the good. Now even though we had a

0:52.1

record number of orders the pandemic has also prevented us from hiring people to work in our warehouse,

0:57.0

so we're actually pretty short-staffed right now, and orders are coming in a little bit faster than we can actually fulfill them.

1:03.6

So as a result it's been all hands on deck.

1:05.4

I've been going to work, answer calls and that sort of thing, but it's a good thing.

1:09.8

Now the other bad thing that's happened to our store, which has nothing to do with the pandemic or anything, is that PayPal

1:15.6

decided to deprecate their old PayPal Express Checkout API right in time for the holidays.

1:21.2

And for all of you who aren't aware of what Paypal Express Checkout is and why it's important,

1:26.5

Paypal Checkout allows users to sign into their PayPal accounts and have all their payment

1:31.2

and address information imported automatically into your site.

1:35.0

And this is especially important for mobile shoppers who don't like to type on their phones.

...

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