Let's Talk Business, Podcast

From a 15k Side Hustle to a 2-Billion-Dollar Business with Spencer Jan

By , February 7, 2022

How do you turn a side hustle into a 2-billion-dollar business? This might sound too good to be true, but it happened when Spencer Jan started his e-commerce business

How do you turn a side hustle into a 2-billion-dollar business? This might sound too good to be true, but it did happen when Spencer Jan started his e-commerce business, which he started in a garage in 2010 with only $15,000. Called Solo Stove then, the business eventually grew into Solo Brands and in 2021, raised $219 million through an IPO (NYSE: DTC).

Listen and enjoy!

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How to Build a $2-Billion Company From Your Garage — with Spencer Jan

 

After a decade of starting and growing eCommerce businesses and having successfully exited the daily operations of Solo Stove, Spencer is now on a mission to helping other eCommerce entrepreneurs find success. 

 

[00:01 – 05:43] Opening Segment

  • I launched a new podcast about exiting your business
    • Link below
  • Let’s get to know Spencer Jan
    • How he started a future $2-billion business

 

[05:44 – 15:27] Bootstrapping an Ecommerce Business

  • How Spencer spent his $15,000 investment
  • Why bootstrapping can jumpstart an entrepreneurial endeavor
  • The reason Spencer is passionate about eCommerce

 

[15:28 – 25:57] Growing an Ecommerce Business

  • The importance of the customers in growing an eCommerce business
  • The lessons that eCommerce business owners will learn 
  • How to capitalize on calculated risks and avoid careless mistakes

 

[25:58 – 35:30] Exiting a Business

  • The hard part of being an entrepreneur according to Spencer
  • Having this foundation will make decision-making easier
  • The right time to exit a business 

 

[35:31 – 42:54] Going Back to the End Goal

  • What to do next after exiting the business
  • Why people should at least try entrepreneurship
  • Connect with Spencer
    • Links below

 

[42:55 – 46:34] Closing Segment

  • Spencer shares his outlook on the eCommerce industry
  • Know more about Spencer with these rapid-fire questions!
  • Final announcements 

 

Key Quotes 

“Bootstrapping is a viable path to entrepreneurship.” – Spencer Jan

“You really have to love your customers. You really have to be able to connect with them.” – Spencer Jan

 

Resources mentioned:

 

Connect with Spencer

Email hellospencerjan@gmail.com to get in touch with Spencer or follow him on LinkedIn and YouTube. Check out their company website to learn how to raise continuous capital for continuous growth!

About Spencer Jan

Spencer Jan is the co-founder of Solo Stove, an eCommerce company that was started in 2010 as a side hustle in a garage with only 15K. Solo Stove grew into Solo Brands and in 2021, raised $219M through an IPO (NYSE: DTC) giving the company he started in a garage a valuation of over $2 BILLION dollars! After a decade of starting and growing eCommerce businesses and having successfully exited the daily operations of Solo Stove, he is now turning his focus to helping other eCommerce entrepreneurs find success.

Meny Hoffman

Meny Hoffman is the Chief Executive Officer of Ptex Group, an Inc. 500/5000-ranked marketing and business services firm headquartered in Brooklyn, NY.

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