Oct
31
The Extremely Profitable Work That New Solopreneurs Overlook
In The Solopreneur Life: 42 Solo-Business Owners Speak the Truth on Dreaming Big, Failing Forward, and Calling Your Own Shots, the solopreneurs talk about mistakes they’ve made with their businesses.
One of the solopreneurs, Ted Prodromu, says, “[My mistake was that] my business was project-based, with little recurring income…Recurring income is a must.”
So, what is recurring income?
Recurring income is revenue that comes in to your business over and over again — it repeats, it reoccurs. Recurring income is like a river — a money river that keeps flowing day after day, month after month. Compare it to one-time income, which is like a puddle of water: it’s here today, gone tomorrow, and the puddle won’t return until you make it rain again.









