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).
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[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
Guest Bio
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.
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Topic
Personal Development
