Can you imagine how expensive it was to work and travel around the world 50 years ago? You’d have had to rely on the labor market in the country you were staying in, and depending on where you were, that may not have gotten you enough money to sustain your lifestyle.
But today, this isn’t as big an issue anymore. You can work and even start a business for as long as you can connect to the internet. You can start a blog, upgrade your web design, and do anything needed to grow your company.
And once you reach a certain point in your business-building journey, you’ll want to transfer your domains to a more reputable registrar. This lets you benefit from better customer support, security, and privacy for your company and its valued customers.
So, if you’re interested in exploring the possibility of building a business while you’re seeing the world, keep reading.
What Makes This Lifestyle a Great Fit for Many Businesses?
Globalization has opened new doors for everyone. Not only has it improved efficiency in the delivery of various products and services, but it has also provided a wider market for those who want to start a business. And with internet connectivity being reliable in many parts of the world, this opportunity becomes available practically anywhere.
Traditional employment won’t cut it if you want to spend your life traveling, but with a stable internet connection and a laptop, you’ll be able to generate income on the go.
But that’s not the only reason.
As a globetrotter, you get to meet people and build strong personal connections with fellow travelers. You’re in this unique position to build a massive network that goes beyond the virtual world. If you ever need help or support, you’ll always have your global village to count on.
Examples of Businesses You Can Have as a Digital Nomad: How Can It Work?
If you haven’t got any idea how to begin, try out the following:
- Create online travel content
- Start a dropshipping business
- Become an online affiliate marketer
- Create and sell online courses
- Start a consulting firm
- Build a brand as a life/career coach
This is just a short list to get the idea wheel turning. What works best for you depends on your skills and experience.
There are so many possibilities! Just be patient with finding the most suitable one.
How Do You Build a Business with a Digital Nomad Lifestyle?
Even though this lifestyle is seen as being completely carefree (not true, anyway!), there still needs to be some structure when starting a company. After all, you want it to be self-sustaining enough that you don’t have to check in on it while enjoying tropical beaches.
Do you have your eye on the type of enterprise you want to build? The next step will be putting in the work. Here’s how you do it:
Determine and Obtain the Resources You Need to Make It Happen
It’s a lot like following a recipe. You don’t want to be in the middle of cooking only to realize you’re missing a crucial ingredient. Chances are you won’t be able to make the dish.
In the same way, you don’t want to lose the momentum on which you’re building because you didn’t prepare enough. Make sure that you have everything you need to get started.
But what exactly do you need to prepare?
To start, treat it like any other business, but because you want it to be compatible with your lifestyle, you’ll need various digital tools and assets like:
- A domain name
- Accounts for social media and advertising
- Automation tools (What you’ll need will depend on your business model)
- Communication platforms
You may need more things as you grow, but this is a good place to start. At this point, you should also plan out your moves to get all the resources needed. For example, you may just need to transfer your domains if you already have what you want to use.
Design the Company to Suit a Digital Nomad
Even though a lot of jobs require you to be present at a certain location and time, that won’t work with what you’re building. You should think about what kind of culture you want to create in your company. More importantly, what will it take to ensure that the business will run efficiently even with a non-conventional setup?
If you don’t know where to start with this, these are a few things to ask yourself:
- How will team members communicate effectively despite being in different time zones?
- What protocols do you need to implement to minimize miscommunication?
- How will you assess your team’s performance?
- Do your employees need to work a certain number of hours every week?
- What do I need to do to make sure everything’s done efficiently?
There are no right or wrong answers here, but there are a few non-negotiables, like an asynchronous working setup. These will help you design a company that fits your current situation without compromising future profitability.
Hire Like-Minded People
Just to be clear, not everyone you hire needs to be a globetrotter. Besides, you may not be available at the same hours all the time. It helps if your team has relatively flexible availability.
You should strongly consider that during the hiring process. But apart from that, you should also look into:
- Talent and Performance. Especially if set working hours aren’t your thing, you want to make sure your employees still meet key performance indicators.
- Compatibility. They should jive well with the team to ensure harmonious work relationships.
- Reliability. Since you’re not all working at the same time, it’s important that you trust their work. You should be confident that they do their jobs well, even without supervision.
People are what makes a company a success. Taking your time to figure out how best to set your hiring process will pay off in the long run.
Set Up Extensive Communication Systems
Since you won’t be seeing each other personally, you have to make up for it. Emails aren’t enough.
Are you familiar with the term water cooler conversation? It’s when employees spontaneously gather to talk about random stuff casually. This is an element that doesn’t naturally occur with remote work.
Therefore, you need to create the conditions to encourage this. Discord or Slack servers are great here. But feel free to explore other options!
Final Thoughts: Digital Nomadism Is Highly Compatible with Modern Businesses
Whether you want to open up a consultancy or set up an e-commerce website, being a digital nomad won’t stop you from getting there! The best thing about this is that there are already a lot of people running a business while exploring the world. This means you don’t have to start from scratch because:
- You can use other people’s successes as a reference for what to do.
- Business failures of other digital nomads can provide a wealth of valuable lessons.
- You have some idea of which niches and industries are thriving.
Here, the true task is finding something that’s compatible with YOUR skills and lifestyle. Once you have that figured out, everything else will come easily.