Interview with Xan and Jenn Spencer, Winners of the DotComSecrets $100 Million Challenge (Published in the March 2010 issue of the DCS Journal)
*This story and it’s results are NOT typical. Most people who try to make money online don’t succeed, and often lose money trying, but Xan and Jenn worked hard and were able to create their own business from home!
Last year, Xan and Jenn Spencer competed against 68,000 other entrants in the DotCom Secrets $100 Million Challenge and drove off with the grand prize – a brand new 2009 Corvette! How did they do it? They teamed up with a friend from church to create a product that teaches moms how to make hair bows for their daughters (yes, you read that right).
With their new income, Xan retired from the corporate world at age 25 and the couple decided to go on the honeymoon they never had by touring the country in their new Corvette. They raced dune buggies in Las Vegas, learned trapeze in Escondido, went zorbing in Pigeon Forge, fished for sharks in the Gulf of Mexico and more all while continuing to grow their online business. The best part? They’ve been able to see these massive results working less than 30 minutes a day (no four hour work week for this couple)!
Now they are back from their 86 day road trip and working on some exciting new projects. We caught up with them to see where their business is today and get some of their best traffic generation secrets. No matter what stage you are at in your online business, the Spencers’ story is a powerful example of how putting a simple idea into action can pay off big!
Q: Can you paint a picture of what your lives looked like before you entered the $100 Million Challenge?
A: We were newlyweds living in a kind of rundown apartment. Xan was working at a corporate job and Jenn was managing her real estate properties (that tenants were not paying on). We rarely traveled and never even went on a honeymoon! Our expenses were more than our income and we were looking for legitimate ways to supplement our income without needing to get a second job.
Q: How did you come up with your product idea? Can you walk through the steps you took from idea phase to sale ready?
A: For our first product, we didn’t really know where to start so Xan began to research some keywords online that came into mind. We threw around several ideas but ultimately decided on a bow making course when Russell talked about using other people’s knowledge. There was nothing that really caught our attention that we were good at doing, however Jenn’s best friend was a fantastic bow maker and was interested in working with us. After researching and verifying there was a market (and completing an “Ask Campaign” which Russell had taught us), we developed the product with Emily. Using other people’s knowledge rocks!
Q: What was going through your heads when you saw Russell drive up in the Corvette you won?
A: We had just been informed by Russell’s assistant, Lindsey, that we had come in second for the contest. Apparently, Russell and Brent showed up at our old apartment but we had moved to a new place (thanks to the increased income from our product). Lindsey needed to find a way to get our new address without revealing the surprise so she told us to give her our new address for the second place prize. I (Jenn) headed outside with a garbage bag to get on with our day after finding out we wouldn’t be getting a new car. Well, to my surprise I saw Brent and Russell outside the apartment!
I didn’t know what to do. At first I was mad that they had come all that way to tell us we were second, haha! I also thought that maybe the first place winner lived next door and I never knew it! Basically, total shock – I really didn’t believe that we were the winners. I dropped the bag and ran into the house screaming “Xan! Xan! Xan!”
Then Xan, half undressed, threw on some clothes and ran outside and bear hugged Russell and Brent! It was hilarious. After finally settling down and talking for a few minutes, we headed to the dealership in the corvette to sign over the title! Awesome!
Q: For Xan: What did it mean to you to quit your job at 25 and take your wife on the honeymoon you two missed out on?
A: It was indescribable! My goal had been to start my own business for years, but until the $100 Million Challenge, nothing had worked. Now, to be able to say I retired from the corporate world at age 25 is a feeling of self accomplishment, and simply a blessing. I’ll never work for anyone but myself again!
In regards to the “once in a lifetime” honeymoon we went on, it made me feel like more of a man, ha. Providing above and beyond for the family, ha. It was a sense of pride I’d never felt before, and yet at the same time super humbling and thankful! Our 86 day honeymoon made us a stronger couple – what a wonderful way to really get to know your spouse.
Q: Since you got home, how has your business been going? Have you two been working on any new projects?
A: Our business has continued to increase and this year will definitely break last year’s revenue. Actually we should come close to doubling it if we stay on track with what we’re doing now! We’ve also started some new projects in a variety of niches, including more craft products, but also branching out to the entertainment industry and home based business niche. Xan has a passion for acting so he is following that pursuit while Jenn continues to focus on the craft industry.
Q: Are you still sticking to the 20 minute work day? What do you two spend that time doing to keep your business growing?
A: Yes! We definitely put in a lot of work at the beginning to get a new product up and running but after that, the beauty of it is that we can work just a few minutes a day to maintain it. During that “maintaining” time we are monitoring our online ads, publishing new videos and articles online, building affiliate and JV relationship, fulfilling product orders, and taking care of our customers.
Q: What are your three favorite ways to generate traffic?
A: Traffic Geyser to submit videos on the web. Adwords for paid advertising. JV and Affiliate partnerships.
>> Click HERE to get a FREE Issue of the DotComSecrets Journal where you can ethically steal DotComSecrets’ most guarded marketing secrets and access more wealth building articles like this one!
Facebook comments: