How Steve Chou Perfected his Work & Life Balance while running two, 6-Figure Companies
December 23, 2015 62 min read
For many of us, finding that beautiful balance between work and life is so unattainable. Either we're working too hard, or not working hard enough -- but for Steve Chou, he found that perfect balance where his family keeps him grounded, while running two strong businesses. In today's Skubana Mastery Series, Steve Chou shares his insight on this balance, and the ways he automates his business to free up the time he spends on his business to be with his family.
In the Fourteenth episode of Skubana’s E-Commerce Mastery Series where we invite experts of their respected fields to share their best practices for success, our host, Dr. Jeremy Weisz of InspiredInsider.com interviews Steve Chou of BumbleBee Linens and My Wife Quit Her Job.
Essential Lessons Learned:
- Tools for automating your emails
- Establishing your email voice to enhance customer retention
- How to maintain family and work balance by having your family keep you grounded
- The importance of product selection and finding your niche
- How Google PLAs can advance your business
Raw Transcript: Steve Chou of BumbleBee Linens / MyWifeQuitHerJob.com
"I have a pretty good gauge based on my kids also, because they want their time...'Are you going to be coming to my event, my performance at night?' I never miss performances. I try never to miss performances. Last time I actually accidentally scheduled a webinar on top of one of their performances and three days before the webinar I decided to just change the date of the webinar. Probably resulted in some lost attendance, but it's a matter of keeping the priorities straight." (00:05:03)
"Just in terms of finding something that's going to sell, I think the most important aspect is finding something that's unique about your business. I don't know if you guys are familiar with the e-commerce landscape right now, but what a lot of people are doing right now is taking stuff they're getting from China and just throwing it up on Amazon. And it's doing well for a lot of people, but my opinion for that long term is, unless you're kind of adding value or if you're selling unique products, or doing something or adding value, you're probably not going to be around in the long haul". (00:07:18)
"If you’re first starting out with your shop, I highly recommend the PLAs, like Google Shopping, shopping.com. Amazon product ads is not going to be around much longer, they cancelled that. Basically ads where you get to see the picture and the price, so that when someone sees that ad they already know what the product is, they already know the price, so when they click on it they're much more likely to buy. Because they already know what to expect. We also run AdWords ads, which have been around forever. The ones that when someone's trying to search for something your ad pops up and since they're search intent for whatever they're looking for, they're much more likely to convert as well. We can talk about Facebook a little bit, which is something that we've been doing more and more of over the years... The problem with those is that the audience that you can reach is just limited by the number of searches, if you know what I mean. For example, if wedding handkerchiefs, which is what we sell, get 1,000 searches per month, we're never going to reach more than 1,000 people a month." (00:11:04)
"We do a lot of copyrighting. Selling is not just listing your products on a site, there's a lot of copy and stuff involved. In that article we talk about our products, we put some of the good ideas from our crafts that my wife has put together, and we basically flood that page with email sign up forms, and we also pixel them so we can run ads to them later on. In the event that they don't sign up for our email list or anything, we still can show ads very subtly in the background re-targeting. In the event though that they do sign up for our email list, we offer a freebie, which is a book of crafts, and then we have an email auto responder sequence that right now is 20 emails long, going out once a week that talks about our company. We provide more crafts and then interspersed in there are links back to our shop, where they're incentivized to make a purchase. It's really sprinkled in with the content. Most of it's content." (00:22:29)
"Here's the thing. Here's the shift that I'm seeing. Because Amazon is kind of commoditizing product sales, I think it's more important than ever to actually go out and establish your own presence or your own brand, so to speak. I think it's important to put out content. And for a blogger that's easy to do, but for some reason a lot of e-commerce stores don't think that way. They don't put out content. By putting out content on a regular basis, you're kind of establishing mind share and once you have that mind share and that email list it makes selling a lot easier." (01:03:49)
Be sure to utilize this real insight from a real marketing expert to help your e-commerce business grow and succeed. Stay tuned - this will be an ongoing weekly series featuring a variety of e-commerce experts looking to provide you with hard-won knowledge free of charge.
Checkout out our previous E-Commerce Mastery Series episode featuring Manuel Becvar of Import Dojo, as he discusses how to source your products efficiently without endangering your capital.
Work Smart. Sell More.
Written By Chad Rubin