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Running A Startup As A Digital Nomad – What To Pay Attention To

Ah, being on the move, nothing quite like it. Nothing to bind us to a particular location, just the open road and a stable internet connection and we’re good to go. Although this lifestyle has a lot to offer, getting everything set up correctly can be a hassle and, like in all things, setting up a business model with this lifestyle in mind can be tricky. There are simply a lot of factors to take in and we need to be aware of all of them before taking the proverbial leap of faith.

Get a partner in crime

First and foremost, do not, I repeat, do not do it alone. This sort of lifestyle comes with its own brand of uncertainties and hurdles one needs to get over. This is why people need to find a business partner they can trust and who can help keep the fort down when the going gets tough. It’s imperative to find someone we can lean on and who, in many ways, resembles a marriage partner than anything else. It needs to be someone we can trust to make the right decisions and who won’t hold our nomadic lifestyle against us. Think of this person as your very own safety net, you’ll always have someone to turn to.

Start at home

However tempting it might be to pack our things and just start cruising state after state, we need to pull the brakes pronto. Setting up a business is by no means trivial, and treating this task as such is a one-way trip to disaster. Getting a business off the ground is hard, ask anyone who’s tried. There is absolutely no reason why we should make things even more difficult on us by having to juggle moving around all the time while trying to get things going. Travelling around will drain our budget and, at the start at least, that’s a cost we shouldn’t even consider taking.

Tread carefully

Once the business has gotten a foothold, we need to make sure we’re not barking up the wrong tree…or even the right tree at the wrong time. Dog metaphors aside, chasing after investors needs to be put on the backburner for a bit. This is simply due to the fact that any fundraising requires a valid proof of concept before heading out. Build a prototype, gauge the market, look at the numbers and see if your product or service does indeed merit funding. If it doesn’t, rethink your ideas and build another prototype. When it does, well, no need to hold back – get it funded and out on the shelves as soon as you can.

Plan ahead

As mentioned above, the company budget may be a bit thin when it starts out, and that’s perfectly fine. The trick is make the most out of our funds and bide our time as nickel turns to dime and dime turns into dollar. This can be a strenuous process and contains many a pitfall but advisory services and professional insolvency solutions that have you covered. Businesses dealing primarily in cases like these have years of experience to help fledgling startups get a solid footing and figure out where they need to pump money in to start moving up in the world.

Aim for good hotspots

Now that you have everything set up, it’s time to embrace the lifestyle and get started travelling. When figuring out where we want to go, our first destinations should be the ones we want to go. This will get us infected with the nomad lifestyle and will help us be more enthusiastic about places we should go. There are certain hotspots around the globe like Prague, Berlin, Portland or Bangkok which have become nomad hubs and have a lot more to offer than other cities. If nothing else, they are worth checking out for the sights and potential business opportunities one might find among people in the same line of work.

The gist

Setting up a good company takes a lot of effort, fitting in a nomadic lifestyle on top of it is a whole other ballgame. There is a lot of preparation that goes into making things work just like we want them to and we most-likely won’t see most problems coming until they hit us. This is why all of the points above need to be considered. With all of these in check, we will have a backup and a solution when faced with a problem, come what may.

 
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