Is This The Most Successful InfoProduct Ever?

Steve Chou1

In Episode #390, Nathan interviews Steve Chou, who has four businesses that are hitting six figures every year. His online course at profitableonlinestore.com is set to bring in over a million by the end of 2016, and he and his wife started a business targeting the wedding industry called Bumblebee Linens. His businesses are all over the map, but he has found a recipe for success for all of them.

Subscribe_Buttons_iPhone

Subscribe_Button_Android

iTunes, Google Play, Stitcher, Soundcloud, How to Subscribe

Famous 5:

  • Favorite Book? – The Psychology of Persuasion
  • What CEO do you follow? — Elon Musk
  • Favorite online tool? — ConvertKit
  • Do you get 8 hours of sleep? — I get seven.
  • If you could let your 20 year old self know one thing, what would it be? — Start building a list early on.

Time Stamped Show Notes:

  • 01:15 – Nathan introduces Steve Chou
  • 02:00 – Where he sees the most money
  • 02:45 – Lifetime membership with new content every week
  • 03:15 – He addresses the problems he finds in his own work
  • 03:55 — $1100 upfront cost
  • 04:10 – Launched in 2011
  • 04:20 – 2000 customers
  • 04:40 – Last year’s revenue was $500000
  • 05:15 – How to drive sales
    • 05:20 – The blog and a webinar
  • 05:55 – 70000 people on his list
  • 06:10 – Facebook ads
  • 06:30 – His webinar
    • 04:45 – 1700 signups
    • 06:50 – Emails mention the webinar
    • 07:10 – Hits people through Facebook and his fan page
    • 07:40 – 10 to 13 percent of people who watch the webinar will buy
    • 08:00 – Up to $70k per webinar
  • 08:25 – How to scale it
  • 09:00 – Scheduled to do 7 figures this year
  • 09:30 – The ecommerce store (bumblebeelinens.com)
    • 09:45 – More revenue than the blog
    • 10:00 – Supply chain and customization
    • 10:30 – Margins are high
    • 11:00 – Targeting weddings
  • 11:20 – My Wife Quit Her Job Podcast
    • 11:40 – Sponsors
  • 12:10 – mywifequitherjob.com
  • 12:20 – bumblebeelinens.com
  • 14:25 — The Famous Five

3 Key Points:

  1. Turn your daily experiences into an opportunity to teach and build a business.
  2. Start building connections as soon as you can.
  3. Locate your target audience for your product or service.

Resources Mentioned:

  • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
  • Freshbooks – The site Nathan uses to manage his invoices and accounts.
  • Leadpages  – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
  • Show Notes provided by Mallard Creatives