Meet Steven Guo: The 24-Year-Old Earning ₹2.15 Crore with Just 30 Hours of Work a Week
Meet Steven Guo: The 24-Year-Old Earning ₹2.15 Crore with Just 30 Hours of Work a Week
How a 24-year-old entrepreneur learned from failures and created a path to success, all while balancing life in Bali
Steven Guo launched his first business when he was just 12 years old. His journey into entrepreneurship began almost by accident—creating a Minecraft server and selling in-game perks to players. Within months, he made $10,000, an experience that ignited his passion for business, even though he admits he “blew basically all of my money” trying to start a game development company afterward.
Fast forward to today, and Guo owns several e-commerce businesses that are projected to bring in $1.7 million this year. At 24, he has seen his fair share of failures, but he’s used each setback as an opportunity to learn and improve. Here are some of the biggest lessons he’s learned on his entrepreneurial journey.
Finding Passionate Audiences
Guo’s most successful ventures lie at the intersection of two passionate audiences. For instance, one of his businesses sells premium car covers designed for luxury car owners who want to protect and flaunt their vehicles simultaneously. Another business sells K-pop-inspired fashion to fans who are passionate about both the music and the style. “I’m always looking for unique insights into different passionate audiences to see if I can come up with a solution to solve their problems,” he explains.
By catering to two specific groups with shared interests, he can offer a product that resonates deeply, helping to differentiate his businesses from the competition.
The Power of Marketing
A key lesson from Guo’s early failures is the importance of marketing. “The product isn’t everything,” he admits. “You have to figure out how you’re going to go to market and how you’re going to get your product out to customers. Without that, you don’t really have a business.” Guo realized that no matter how good a product is, without effective marketing, it won’t reach the right people. After blowing through his money trying to launch a game development company, Guo became obsessed with mastering marketing, which helped him later achieve success in e-commerce.
Embracing Failure as Part of Success
Guo doesn’t shy away from failure. He sees it as part of the process toward eventual success. “I’ve launched countless e-commerce brands that have failed,” he shares. His key takeaway is to learn from each failure and apply those lessons to future ideas. For instance, when he sold fidget spinners in high school, he hustled to get traction but realized it wasn’t sustainable. Later, when launching a toy business in college, he switched to a scalable model, partnering with third-party logistics in China and focusing on Facebook ads. This change allowed the business to grow successfully.
Building Resilience in Finances
Understanding the cyclical nature of entrepreneurship, Guo built a frugal mentality to protect himself during lean times. “Business isn’t stable,” he says. “There’s always ups and downs, and I want to make sure I have enough cash to weather the storm.” This mindset has helped him manage his fluctuating income and stay financially secure. With an annual income on track to be $254,000 this year, Guo keeps $15,000 in his bank account for emergencies and regularly contributes to his brokerage accounts and Roth IRA.
A New Life in Bali
In 2024, Guo moved to Bali, where he enjoys a relaxed lifestyle at a much lower cost compared to Southern California. He spends his days balancing business with leisure, working in the mornings, surfing in the afternoon, and exploring the culture of Bali. Despite being only 24, Guo believes his success is due to finding the right business model and mindset. He emphasizes that “all you need is one business to work, and that can change your entire life.”
Guo’s story showcases the importance of working smart, adapting to failure, and maintaining financial discipline, proving that with the right approach, anyone can achieve entrepreneurial success.
