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 jumped into entrepreneurship and started a business 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).

After a decade of starting and growing e-commerce businesses and having successfully exited the daily operations of Solo Stove, Spencer is now on a mission to help other e-commerce 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 e-commerce

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

• The importance of the customers in growing an e-commerce business
• The lessons that e-commerce 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 e-commerce 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:

• Book: How Will You Measure Your Life?

Connect with Spencer

Email [email protected] 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!

We're a passionate bunch. Together, we help your business flourish. Visit: https://ptexgroup.com

Let's Talk Exits! Check out my new podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/lets-talk-exits/id1606747718

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