In Episode #326, Nathan interviews Ilias Tsagklis, co-founder of Excelexis. He’s a software developer-turned-entrepreneur who gave up a great salary to found his own company. Ilias blogs about entrepreneurship at Wealth Triumph. Listen in to hear why a developer built an ad company instead of a software company, and just what he’s doing to make 85% net margins.
- Favorite Book? – Millionaire Fast Lane
- What CEO do you follow? — Marcus Lemonis
- Favourite online tool? — Asana
- Do you get 8 hours of sleep?— Yes
- If you could let your 20 year old self know one thing, what would it be? — That the road to success is only through self-education. Don’t expect anyone else to help you.
Time Stamped Show Notes:
- 01:14 – Nathan’s introduction
- 01:56 – Welcoming Ilias to the show
- 02:17 – Trying to monetise platforms like banner display
- 02:37 – Provided sponsored content for a recent customer – trying to move away from traditional banner displays
- 03:25 – Own Telecode Geeks, a content site, where they can place adverts
- 04:02 – Ilias started out as a software developer
- 04:18 – He quit his job after 7 years, looking for something new
- 05:02 – “I wanted to build something that could scale”
- 05:40 – Gave up a salary in the mid 5 figures – a high salary in Greece
- 06:40 – Started building a community writing technical articles
- 07:15 – Why monetise through ads using Java instead of building your own software platform?
- 07:30 – “We were more interested in building a steady income to replace the corporate job”
- 07:55 – Around 85% net margin in the business
- 08:22 – Multiple revenue streams: advertising; sponsorship; lead generation and affiliate marketing
- 08:47 – Total revenue in 2015 was in the mid 6 figures
- 09:15 – Two co-founders, several assistants, and some freelance writers
- 09:40 – Ilias’ revenue goal for 2016 is $500k
- 10:30 – Connect with Ilias on Linkedin or at his blog
- 12:00 – The Famous Five
3 Key Points:
- Success comes from self-education. Start investing time and energy in yourself.
- Build a community before you try to monetise. Once you have a tribe, everything else will follow.
- Define your goals as an entrepreneur. Explosive growth? Steady income? Early retirement? Once you know your why, you can worry about the how.
- Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
- Freshbooks – The site Nathan uses to manage his invoices and accounts.
- Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
- Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
- Show Notes provided by Mallard Creatives