Steve Chou is a well-known and respected Wall Street Journal reporter who has covered finance for over two decades. He was appointed in 2014 as the paper’s managing editor, where he oversaw online content, business analytics, newsroom development and other areas of digital strategy.
Steve Chou is an American entrepreneur and investor. He is the founder of Kabam, a San Francisco-based mobile game company that has over 200 million players worldwide. His net worth is $1.2 billion.
Do you want to read a Steve Chou review? You may have heard about Steve Chou if you desire to earn money online. However, you could worry whether it’s a ruse.
I’m passionate in assisting folks in exploring online money-making options. I’ve tested a lot of programs over the years, including Steve Chou’s Profitable Store Online.
I’ve spent the last week doing extensive study on Steve Chou and his course so that I can tell you more about it.
I’m not linked with Steve Chou, just to be clear. It implies that I was not compensated for writing this review. As a result, you can be certain that my opinions are impartial.
I’ll also tell you about a superior option that has allowed me to create a full-time passive income online at the conclusion of this article.
I’ll go through the following topics in this Steve Chou and his course review.
Steve Chou, who is he?
The course Profitable Store Online was created by Steve Chou. It’s possible that you won’t be able to uncover much information on him on the internet.
Steve Chou began his web company in 2007, so it’s been a long time.
Steve Chou, unlike many other youthful gurus, is a more experienced individual. If you look at other eCommerce gurus, you’ll see that many of them are around the age of 20 and like showing off their automobiles to sell you on the lifestyle. Steve Chou, on the other hand, seems to be unique.
Steve Chou is married with children. He runs a seven-figure eCommerce business and writes the blog MyWifeQuitHerJob.
Steve Chou is also a frequent YouTuber. His YouTube channel has roughly 39.7K followers as of this writing.
You may be wondering why he makes and sells online courses rather than concentrating on his eCommerce company. Is the majority of his income generated from the sale of his course or through eCommerce?
Let’s have a look at his course in the following part before I address that question.
Recommendation: This Is The Most Effective Alternative
Overview of a Profitable Online Store
Profitable Business Online is a course that teaches you how to create a profitable eCommerce store.
The course consists of 15 units. The course contains both video and PDF instruction.
Let’s take a look at each module so you can see what you’ll be learning.
Module 1: Identify a Lucrative Niche
This subject will teach you how to find lucrative niches and how to evaluate the competition. Consider Steve’s specialty: bridal handkerchiefs, which he sells for seven figures.
Module 2: Product Sourcing
Module 2 will teach you where to get low-cost, legitimate items.
The following topics will be covered:
- This is how the retail supply chain looks.
- Purchasing in bulk
- Identifying illegitimacy and deciding whether or not to purchase from it
- Importing goods from other countries
- Develop your product with the help of Chinese manufacturers.
Set Up Your Online Store (Module 3)
You’ll learn how to set up your own website. Normally, people only advocate Shopify, however Steve Chou demonstrates how to create your own website for free using open-source software. Shopify is my preferred platform since it is simple to set up.
Module 4: How to Make Money Selling on Amazon
You’ll learn how to sell on Amazon utilizing Amazon’s FBA model in this part. Amazon is by far the most popular online shop, therefore it’s certainly worth taking advantage of. You’ll uncover and learn how to create listings that convert sales and how to gain product reviews.
However, since this course is not focused on Amazon FBA, you should not enroll in it if you intend to conduct Amazon FBA.
How To Create Sales Funnels (Module 5)
This session will show you how to enhance conversions by using sales funnels. When people purchase anything, they go through a very uniform procedure. Sales funnels are designed to guide clients through the process of making a purchase.
Module 6: Ensure the Legality of Your Company
This part covers the tedious legal paperwork, so you’ll learn everything about the legal jargon and licenses needed to establish a company.
Module 7: Get Free Advertising for Your Online Store
Steve Chou will provide you some free marketing ideas in this part, including word of mouth and how to promote to clients who have previously bought.
Module 8: E-mail Promotion
Email marketing is the most popular approach for Internet marketers to generate money online. You’ll learn how to set up an email autoresponder, establish a contact list, and sell sales-generating email lists here.
Google Adwords And Google Shopping (Module 9)
In Module 9, Steve Chou will show you how to use the Google Adwords (now known as Google Ads) and Google Shopping advertising platforms to increase your sales.
Module ten is about Facebook advertising.
In the eCommerce business, Facebook is the most popular advertising platform.
Module 10 will cover the following topics:
- Getting a Facebook ad campaign up and running
- How to Retarget Your Ads
- figuring out which advertisements work and which don’t
- How to use sales funnels into Facebook advertising to make it more productive.
Module 11: Using Facebook Messenger to Market Your Business
Facebook Messenger can be used to make sales, and this module will show you how to develop your list for free and then use Messenger to generate sales.
Module 12: Search Engine Optimization for Your Store
SEO may also help you receive free visitors from search engines. This is referred to as search engine optimization (SEO). In this part, you’ll learn how to correctly apply SEO so you can start obtaining free Google traffic.
Module 13: How to Price Your Products to Make the Most Money
For optimum sales, you must understand how to appropriately price your items. If you price too high, you won’t sell, and if you price too low, your profit margins will be too little. You’ll learn how to price your items for optimum sales in Module 13.
Advanced Website Optimization (Module 14)
You learnt how to set up your e-commerce site in the previous module, and Steve Chou will discuss how to make your website appear more professional in this session.
The following are some of the things you’ll learn:
- The fundamentals of creating a website
- A conversion-optimizing call-to-action
- How to make the most of promo codes to increase sales
- The technique of image optimization
- Tips for completing a transaction
Customer Service (Module 15)
This lesson will assist you in mastering customer service and ensuring that your company obtains positive client feedback.
Online Store Pricing That Makes Money
The course Profitable Online Store is rather costly. Enrollment costs $1699 dollars. It is, in my opinion, expensive. There are better and less expensive eCommerce courses available.
In terms of the return policy, you will have 30 days to consider requesting a refund. It promises to be no-questions-asked, but I’m not sure whether that’s genuine. Most of the time, they will ask you for your reasons, and you may be required to fulfill specific requirements, such as demonstrating that the course is ineffective.
In reality, starting an internet company does not need a $1699 investment. In the last portion of my review, I’ll explain why.
Recommendation: This Is The Most Effective Alternative
Pros and Cons of a Profitable Online Store
Pros
- You can study the fundamentals of eCommerce.
- The classes cover a variety of traffic sources, such as Facebook and Google.
- Steve Chou updates the course material on a regular basis.
Cons
- The course is overpriced. It’s overpriced since there are better and less expensive options available.
- Because Steve Chou’s successful eCommerce shop, which offers bridal handkerchiefs, was founded in 2007, the tactics he used there may no longer be valid today.
- For newcomers, eCommerce is not the most straightforward business strategy.
- There are no documented student success stories.
- A lot of the content in the course is available for free online.
- There were no one-of-a-kind tactics offered that can ensure your success.
Is Steve Chou a con artist?
Steve Chou is not a con artist, in my opinion. There is no evidence to support this claim. Steve Chou, in reality, has a lot of expertise with eCommerce and has had a lot of success with it. He can teach you the fundamentals of eCommece.
The issue is whether or not you can earn money by taking the course. Steve Chou seems to have shifted his concentration from eCommerce to offering online courses many years ago.
He may have had success in eCommerce many years ago, but I believe he now makes the most of his money offering online courses. As you can see, he spends the majority of his time and effort marketing his online courses.
Steve Chou launched his seven-figure eCommerce business in 2007. The internet had become considerably more user-friendly by that time. It was incredibly simple to get Google traffic. As a result, I’m not certain that his tactics are still effective today.
He recently assisted his children in opening an eCommerce company that sells print-on-demand children’s t-shirts, but the store seems to be failing miserably. There is minimal traffic, and it seems to have been abandoned some time ago. That makes me believe he won’t be able to repeat his accomplishment.
Furthermore, while Steve Chou is attempting to sell you his course, he does not enlighten you about the challenges of eCommerce.
If you’re new to internet company, you should know why eCommerce is more challenging than you anticipated.
Recommendation: This Is The Most Effective Alternative
Is There a Better Way to Make Money on the Internet?
I’ve worked in eCommerce previously, and I can tell you that it’s becoming more challenging. If you want to establish a six-figure eCommerce company, you’ll have to put in some sweat, blood, and tears to figure out how things operate. Here are a few reasons why I don’t think eCommerce is a good idea:
1. Financial Danger
If you don’t advertise, your eCommerce business will not sell anything. However, Facebook ad expenses are increasing, eroding your PROFITS. It might take weeks or even months to break even, much alone make a profit. To put it another way, eCommerce requires you to assume a LARGE FINANCIAL RISK.
2. Facebook Ads are Expensive and Time Consuming
Based on the findings of most eCommerce companies, the entire cost of your Facebook ads will account for at least 30% of your total sales. However, Facebook advertising are seldom successful for lengthy periods of time. Your ad becomes useless after the audience has been fatigued. Your overall income will be much reduced, and you may even lose money. According to Forbes, Facebook’s ad expenses have increased by 90% year over year.
Worse still, since Facebook’s algorithm is always changing, the learning curve for Facebook advertisements is rather high. Learning and testing Facebook Ads will take a significant amount of time and money. If you run Facebook advertisements without any prior expertise, your account will be suspended for breaking the company’s rigorous standards.
3. Customer Service
You must spend a lot of time negotiating with suppliers and dealing with customer service in eCommerce. You must wait for your supplier to assist you if your client has a problem with the goods. You must face the loss if your supplier is not cooperative. As a result, many eCommerce shops have negative customer reviews and no repeat customers. In the worst-case scenario, you should anticipate a high number of credit card chargebacks, putting your payment gateway at danger of being shut down.
4. A significant amount of effort was put into product research.
To maintain your shop profitable, you must constantly locate a product with the potential to become viral in order to pay the expenditures of advertising.
Most items in eCommerce hit their peak in 1-2 months or even weeks. This is due to the fact that numerous rivals will copy your goods and make a better advertisement. Alternatively, they may boost their Facebook ad spending to outbid you.
As a result, you must continue to identify fresh substitutes in order to generate cash flow.
People may report revenues on the internet, but they do not disclose the net revenue. Some of them may be profitable, but it isn’t long-term.
The eCommerce business model isn’t as simple as you would believe. The majority of individuals who thrive in eCommerce do it full-time since it demands you to constantly source new things, create new businesses, try new marketing, and seek out new suppliers in order to maintain a consistent revenue.
Is There an Easier & Better Alternative to Make Money Online?
You could ask whether there is a better business strategy that doesn’t need Facebook advertisements and can be done as a side hustle if you don’t want to squander your time or jeopardize your hard-earned money. Yes, I recommend that you begin with affiliate marketing. You don’t even have to deal with customer service, so it’s a lot simpler and less time consuming.
Affiliate marketing allows you to operate your company for absolutely little money. Most significantly, you won’t have to spend any money on product development.
However, how much money can you make with affiliate marketing? A 21-year-old student from my #1 rated affiliate marketing training platform earned $7,395 in only one week, or more than $1000 per day…all while utilizing free traffic strategies and affiliate marketing.
Wealthy Affiliate has been around for almost ten years and has a long list of success stories.
Here are some more inspirational success stories from Wealthy Affiliate members to offer you additional examples.
What is the best way to join Wealthy Affiliate?
Wealthy Affiliate offers a very straightforward price structure. It offers both free and paid membership options. You may join up for the beginner membership here if you want to get a feel for Wealthy Affiliate (no credit card required). You may choose to be a free member for an indefinite period of time. As a starting member, you’ll get immediate access to the community, live chat, over 500 training courses, two classrooms, networking, comments, one free website, and the keyword tool. You may take advantage of all of these benefits without spending any money. So I highly urge you to create a free account and check it out for yourself.
Recommendation: This Is The Most Effective Alternative
Steve Chou is a professor of computer science at Stanford University. He has been working on the theory of computational complexity since he was in his early 20s. Reference: steve chou stanford.
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