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From Side Hustle to $2 Billion IPO: The Solo Stove Story

Spencer Jan is the co-founder of Solo Stove, along with his brother, Jeff, and they have a phenomenal story of bootstrapping their way to a $2-billion valuation in only 8 years. Within the last 24 months alone, they’ve had two private equity deals and three major 8-figure acquisitions! Spencer joins me today to talk all about that and so much more.

Listen in as he shares Solo Stove’s journey from being a side hustle to a highly profitable and valuable company. You’ll hear why they obsessed over margins from the very beginning, as well as the painful reality they faced when they first went to sell. We also discuss the importance of profitable margins, how to stay lean as a company, and why it’s important to get out of the default mode of working more and instead spend more time on what matters most.

You’ll learn:

  • What it was like in the beginning of Solo Stove and what the initial intention of the business was. (5:00)
  • The thing that was causing them the most pain when they decided to offload the business. (10:45)
  • What they did to get their time back in their business. (14:55)
  • How they were able to keep their margins lean. (21:50)
  • The evolution of the leaders within Solo Stove. (27:15)
  • The challenges of hiring. (38:00)
  • What Spencer wishes he had spent more time on in his personal life. (41:00)
  • Spencer’s perspective on going public. (59:00)
  • Lightning round with Spencer. (1:04:15)

Subscribe: iTunes | Stitcher

(With your host Andrew Youderian of eCommerceFuel.com and Spencer Jan of SoloStove.com)

 

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Andrew Youderian
Post by Andrew Youderian
Andrew is the founder of eCommerceFuel and has been building eCommerce businesses ever since gleefully leaving the corporate world in 2008.  Join him and 1,000+ vetted 7- and 8-figure store owners inside the eCommerceFuel Community.

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