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

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   Connect with Ptex Group: Facebook, Instagram, Twitter, LinkedIn   LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve in business. Listen to previous episodes on Spotify, Apple Podcasts or wherever you get your podcasts!