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Steven Guo launched his first business when he was 12 — "basically by accident," he says. In 2022, Guo sold one of his first businesses, a jewelry brand that brought in over $2 million in revenue within a year. The 24-year-old now owns and runs several e-commerce ventures set to bring in a combined $1.7 million this year. "By combining these two interests and making a really unique car cover, we can appeal to a much more passionate audience." "One thing that I wish I knew earlier about running a business is that the product isn't necessarily everything," he says.
Persons: Steven Guo, Guo, he's, Steven Guo Another, merch, It's Organizations: University of California Locations: Irvine
It all started with a summer project when he was 12 and "super into the game Minecraft," Guo tells CNBC Make It. He recently moved from Southern California to Bali, Indonesia, where he splits a villa with friends and spends his free time surfing. The expense is well worth it for high-quality food, Guo says: "One of the best parts about Bali is how clean and healthy the food is. "Most of my expenses go towards food, but if I do spend money, it's typically towards gifts for family or my girlfriend." As far as what he doesn't spend on, "I absolutely refuse to spend money on things that depreciate in value," like luxury goods, Guo says.
Persons: Steven Guo's, Guo, Steven Guo, Roth, frugally, China who's, We're Organizations: CNBC, University of California, Amazon Prime, YouTube, Transportation Locations: Southern California, Bali, Ruda Putra, Indonesia, Irvine, U.S, Philippines, UK, India, California, Canggu, Portugal, Australia, Hawaii, China, Canada
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI moved to Bali from the U.S.—now I make $254,000 a yearSteven Guo, 24, relocated to Bali, Indonesia, from Southern California in 2024. He currently makes $254,000 a year running multiple e-commerce businesses that are on track to bring in a combined $1.7 million this year. 06:58 an hour ago
Persons: , Steven Guo Locations: Bali, Indonesia, Southern California
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