Just shared my story of going from $5k & a $300 Chromebook to 7 figures on the “My First Million” podcast… AMA + help me figure out what to do next! : Entrepreneur


Hey Reddit – my name is Paul. 👋 I started & sold an online business and want to share my story. I’m new to posting so please go easy on me!Why am I posting? Podcasts, Reddit, & FB Groups were EVERYTHING for me when it came to education and inspiration around starting my business so hopefully my story will play some small part in doing the same for you. If you drop a question in the comments I will do my best to reply to everyone. Selfishly I’d also love your help too (will explain more below).Short Version of My Story ☹️ —> 📈 —> 🙏I spent about 10 years following the “right” path with jobs in accounting and financeEven though I had a “good” job I was deeply unhappy with my career, I wasn’t building much wealth as I was spending most of what I was earning, and deep down I just felt like something was missing in my life. I got really scared the next 25 years would be more of the same and it freaked me out.That fear lit a fire and I worked hard to find a way out of the 9-5 grind. I stumbled upon Amazon FBA through podcasts and RedditI got started with Amazon private label in 2016 armed with with $5k, a $300 Chromebook. and a $5 logo from Fiverr.My first launch was a pretty big fail but I learned a lot and went back at it for round two. Things took off from there…2016: 6 figures in sales2017: 7 figures in sales and quit my 9-52018: Doubled 2017 sales. Almost got on Shark Tank 🦈 but I think I was too boring so got cut 😂2019: Sold the business via a 7 figure exit. FIRE goal achieved 🔥Proof / Longer Version of My Story (My First Million Podcast / Website)Audio Version 🎧: If you want to hear a longer version of my story check out my episode on the “My First Million” podcast. This was my first ever podcast and I wasn’t really sure what to expect. If you listen please let me know what you liked and didn’t like. I’m open to feedback!!! I was pretty nervous to share my story but I’m such a fan of the show that it was just an honor to be there and participate.https://podcasts.apple.com/us/podcast/mastering-amazon-fba/id1469759170?i=1000463331131Side note**:** The Million Dollar brainstorm episodes are amazing and I think pretty much everyone on here would find them super interesting. They’ve sparked so many business ideas for me so seriously give them a listen as they’re really great. 👍Written Version 🖥️: Obviously this post couldn’t contain all the details of my entrepreneurial journey. If interested, you can read the longer version of my story here: https://wealthfam.com/about/AMA: Do you have questions about starting a business? Amazon FBA? Why I sold my business? What I did with the money? How to (almost) get on Shark Tank? What I’d do if I was starting from zero today? When to leave a 9-5 and go full time on your side hustle? Fire away with questions! ❓I don’t know everything but I’ve seen and learned a lot these past few years. The kindness of strangers on the internet literally opened my eyes to the possibilities of entrepreneurship and helped me create a life changing business. I feel very blessed and grateful for everything that has happened. 🙏Cheesy but true words of wisdom: To anyone who’s had some fails, feels stuck, is in a job they dislike, etc…. My best piece of advice is to keep learning, keep grinding away, and keep the faith. I can’t tell you how many fails I had before I finally got something that worked. It sounds trite but stay curious and just keep going. Often times the big win never would have happened if you didn’t have all the learnings from your past.I also have one question for you…Smart people of Reddit… what would you do next?I was on this cool podcast and have this new site. Now what? One of the hardest parts of my last business was just getting that initial momentum. I’m having those same feelings now with my new site. I’d love to hear YOUR ideas on how you think I should use the My First Million episode or any other strategies to grow my new site (wealthfam.com). I think there is a huge need for more financial literacy, resources for entrepreneurs, and awareness around all things money. I’d be grateful to anyone that takes a moment to check out the site, provides feedback, and share thoughts on what you’d do to help the site find an audience. This is a new world for me so just trying to learn as much as possible.Last thing… My “One New Biz Idea Per Week” Challenge: I’m challenging myself to come up with one new business idea each and every week for the next year. If that sounds interesting to you I’m going to put the ideas in our weekly Money Monday WealthFam newsletter. I put my first idea on Twitter today and somebody already bought the domain and messaged me that they’re going to work on the biz. I love this and hope more people take ideas, run with them, and have big success. Maybe we could even work together on an idea if we both have the energy for it.Thanks for reading this long post and please let me know any questions. Pulling for everyone to have success and happiness in 2020!


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