This week’s episode is with Steven Clayton, e-commerce professional and owner of 100k Factory. (The business model we’ll be talking about on Tuesday’s webinar).
Steve left a high position at a fortune 500 company many years ago to start a business online. Since then he’s built a highly successful e-commerce business, and developed the most popular course there is for aspiring e-commerce entrepreneurs.
My favorite parts of this chat were…
- What Steve’s conservative Dad said to him about whether he should quit his job to start a business… (7:15)
- How you advertise to sell products you don’t hold inventory of (14:00)
- What an example ad targeting looks like for one of Steve’s FB ads (16:40)
- How you get Facebook to improve your ad clicks and conversions without doing anything (20:10)
- The audiences (targeting settings) that “make everyone the most money” (21:00)
- How Aidan & Steve’s dropshipping business works (how they sell physical products that can be purchased one at a time (rather than with a minimum order quantity) (22:50)
- The key to the expansion of Aidan & Steve’s 20 most successful e-commerce students (25:00)
- And what those top 20 successful students spend their time on in their businesses (28:45)
- How many different products you might need to sell to reach a level of $1000/day with e-commerce. (31:00)
- Other kinds of people who have made e-commerce business work (the story of the married couple was a great one!) (34:10)
- Steve’s view on whether “time to spend” is a critical factor to success (36:10)
- And what factor he does think most fundamental to a person’s entrepreneurial success (never heard this particular factor emphasized before)
- Why Steve’s rethinking his view that successful entrepreneurs are generally optimists (40:00)
I hope you love this one and if you want to discuss anything in the episode further, come join us at the Facebook Group!