How Fotios Tsiouklas and Alan Gokoglu Use Cash Flow From SaaS Businesses To Invest Into Other Businesses
Entrepreneurship is for diehards and risk-takers. Your risk appetite is what often drives you into making decisive decisions. Usually, it’s never a walk in the park, and the push from the competitors can force you to the edge. Changing from the norm is often desirable and mainly focused on solving the many bottlenecks in the universe while simplifying complex approaches of day to day activities.
Fotios and Alan have the first-hand experience when it comes to real experience from this theory. The lessons they have derived from the initial innovative trial at the age of ten up to date, their success track is well drawn.
The duo shares their experience in managing cash flows and how they invested the proceeds of their savings in venturing into other businesses. With its business’s rampant growth pace and increasing profits yearly, it was inevitable that the company was heading in the right direction. However, they didn’t put their guards down and have set aside funds for future contingencies. To gain control of your cash flows, its important to consider implementing new policies such as offering discounts to customers who subscribe to your app.
From his initial approach of creating game codes and selling them on fippa.com in the year 2013, Fotios-aged 13, generated $10,000. The result triggered his interest in repairing mobile phones and reselling the refurbished ones at eBay at 15, making $521,247. Together with his school nemesis and business partner, Alan, they transitioned into a more credible business that would stir up their gaining respect in entrepreneurship. The two’s current financial standing stands at $2.8Million worth of assets and sharing $5 million value of the portfolio.
What makes them successful has been the strategic approach they have in rolling out new ideas and business. You will note that the duo has not, at any point, taken loans to start a new venture. Instead, they have invested the cash flow from their business to establish a unique experience. It’s hard to predict their next move. Luckily the Australian youngest millionaires have spread their wings widely, causing positive storms in diverse industries.
The lesson derived from these two young lads is that of discipline, focused, and timely strategy they use in decision making. They turn dreams into ideas and later evolve into business ventures. Accountability and transparency is as well a critical factor when it comes to strong partnership trust. The bottom line leads us never to focus on making money but always about creating an impact.
Having several diverse businesses running leads to spreading over the risk evenly, in that profitable ventures can generate enough resources for sustainability and growth objectives. A positive trigger is to offer gift vouchers to encourage and attract traffic towards your site. The duo gave users a chance to play games and win discount codes or special access deals by merely playing the app. Such a crafty approach is designed to increase the brand’s credibility and increase sales.