What is a critical ingredient in what makes a good businessman? It could be intelligence, it could be persistence, and it could be luck or attention to details or an ability to spot opportunities. We could go on and on, but one key element is the ability, the strength of character, to ask for help.
By the way, one of the best places to help you become an accomplished businessman is a platform called RushRadar, and if you haven’t checked them out yet, we recommend you head on over to their website and learn about their 5 Steps To Digital Fortune!
Jacky Chou is such an entrepreneur and businessman. So if he feared having ideas stolen or rejected, he overcame it and asked SEO expert Evan Roberts for advice. He wanted a niche and to build a successful business. Due to turning 30 this year, Chou has done both and then some.
Born to James Chou and Ena Chen in Taipei, Taiwan, and raised in British Columbia, Canada, Jacky Chou learned a few great lessons as a kid. He learned Chinese and played the piano, but most of all, he came to understand the value of persistence.
During college, where he gained a B.A.Sc. in electrical engineering from the University of British Columbia, he faced many decision points. It came while studying for a tricky exam. So he took a break and decided to Google a different idea as we all do.
“How to make money online.” That was the query. One most people have tried at some point in time. Postgraduation, this turned him into an internship at a Berlin-based mobile marketing agency and then, when he went solo, dropshipping.
He had a calling, but he needed help. Evan Roberts not only answered his questions but became something of a mentor. Chou also had persistence. When a dropshipping business was losing USD 3k per month, he kept going and, not long after, created a huge profit margin of 30-40%.
Dropshipping is a challenging market. There are too many companies, some huge ones, people competing over advertising on Google and Facebook, and a surfeit of dodgy products. However, with Roberts’ mentoring and a commitment to high-quality products, Chou soon had income up to USD 250,000 per month.
He soon sold the business to a private equity firm, but he did not rest there. This is where more help came – this time in the form of an idea, a style. “Always be Closing,” or ABC for short, came to him via The ASO Co during a pitch.
This idea is one we see among some of the other great entrepreneurs of our modern era. While working on one project, pitch others. Build new ventures as others continue. Keep developing and keep pitching.
He turned to his new one on selling the dropshipping business – Indexsy. He bought, improved, and sold digital assets for profit while working on other projects. By the way, Indexsy recently acquired big brands such as Towing Less and Laurel & Wolf.
Another one is Far & Away, which raised USD 75k via Kickstarter and another USD 150k in angel funding so he could create a homeware brand focused on direct-to-customer shipping and service.
Jacky Chou might not be developing reusable rockets which take off and land again, but then again, only one man is – Elon Musk. However, like the Tesla and Boring Company founder, Chou is committed to his ABCs and creating a broad portfolio of ventures. So let’s see where he takes things next.