The Solopreneur Life | Passive Income | Home Business
Featured Solopreneur Ted Prodromou: “Recurring Revenue Is a Must!”
- By Larry Keltto
- •
- 07 Sep, 2010
This is “Featured Solopreneur,” an ongoing series that gives all of us a glimpse at how other solopreneurs operate their small businesses. Click Here to read more Solopreneur Success Stories.
Name of solopreneur:
Ted Prodromou
Name of business and city:
NetBizExpert, San Anselmo, California
Web site address:
www.netbizexpert.com
and www.clickhereformorecustomers.com
Type of business:
Web design/SEO/search marketing/PPC
When did you officially go into business?
1999
Why did you start your own business?
I was tired of working 80 hours a week for others.
What was the best thing you did when you were starting up your business?
Working from home let me drive my children on field trips at school and coach their soccer and baseball teams.
What is a mistake that you made that you have learned from?
My business was project-based with little recurring revenue.
What is your biggest current challenge in the business and what are doing to try to solve it?
The economy caused my income to drop significantly. I recently took a full-time job to stay on my feet while the economy recovers and I restructure my business with recurring revenue
What are your short-term goals?
To restructure my business and determine my focus so I can work with larger companies on a retainer basis
Where do you want to be with the business in five years?
I want to establish a steady client base so I can consult from anywhere, speak at events, teach classes, and earn recurring revenue.
What are your main software programs?
Joomla, WordPress
What are your strategies for staying competitive?
Be an expert in a niche market
Do you need a second household income to support your lifestyle? (Is the business primary, or supplemental to the household?)
My wife also works at this time.
If your business should fail, what is your fall back position?
I’m actually doing my fallback plan by doing SEO and PPC for a small company.
If you could start your career all over again, what would you do differently? Why?
I would focus on a small niche, work on PR to get my name/expertise out there and build recurring revenue into my business model.
What’s your advice for aspiring solopreneurs?
Recurring revenue is a must!
Are you glad you became a solopreneur? Why or why not?
Yes, because I have the freedom to go on vacation and go skiing or biking when I want.
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