Starting a business is always going to be somewhat challenging and it’s not something that will always go precisely to plan! We all know the statistics about how many businesses fail in their first year…
But if your objective is to start a business that you can run entirely online and then maintain while you travel, then you’re adding on an additional layer of challenge. How can you make this a success?
Here are some business tips and ideas to help…
Start Slow and Transition
The first tip is to start slow and transition to working online. A lot of people make the mistake assumption that becoming a digital nomad means quitting their job and going ‘all in’ on a new business idea. It doesn’t have to though!
Instead, why not start your business in the evenings? You can work a few hours after work or even at the weekends. Then you can see if you’re able to generate enough income from your idea and you can tweak and hone that business model to get it just right. Only once you’re making enough money, should you then consider quitting your job and seeing if you can go it alone.
Take the Path of Least Resistance
Too often, we will be overly ambitious when it comes to starting a business. I have spoken to countless people who tell me they’re working on an app that’s going to make them rich and normally it involves setting up some kind of online community and working with multiple service providers. And these guys don’t even know how to program yet!
Look, it’s great to have a vision but if you want to make money in a way that is reliable enough to earn while you travel – and in a way that is ‘hands-off’ enough to give you the time to do so – then you need to be a little more realistic and straightforward.
You know what? Running a boring business is more effective than running an exciting one! Sell socks through a wholesaler, be a copywriter, do data entry! Just don’t get too elaborate and adventurous or you’ll spend countless hours only to find that you never actually breakeven…
A good tip is to ask someone you know who is already proving successful and to see how they work. In all likelihood, their business model will be very simple! How about checking an online community like #Nomads in order to find more ideas and tips for working online?