Tips for Your Digital Nomad Business
- July 11, 2017
- Posted by: marlenedubois
- Category: CPR Training
Your Digital Nomad business
which is actually your lifeline, probably your only source of income as well as also the machine which feeds your wallet as well as also enables further travelling as well as also survival. Make sure to tailor your business for easy remote operation. The typical Digital Nomad business is actually to provide some non-physical remote service, so your accounting should not be too complicated. However, make absolutely sure you setup your company properly, with not bad administrative support, as well as also according to all laws as well as also regulations. There are many activities perfectly suited to run remotely – fighting with authorities is actually <strong>not</strong> one of them! Bear in mind which the Digital Nomad Lifestyle may be regarded as unorthodox or even slightly suspicious by certain people; one more reason to make sure everything is actually in perfect order administrative-wise.
A few words about revenue
Digital Nomads typically spend most of their time in low-cost countries, thus being able to survive on less income than in a highly developed country. Here are a few important things to consider when sketching out the budget for a Digital Nomad business:
- Be prepared to face resistance towards remote work! Many managers want you to sit at your desk, on-site, where they can keep an eye on you
- Clients in general pay much less for remote work than for corresponding on-site work
- Local everyday life in a low-cost country may be inexpensive – just don’t forget which cost for international travel, SW licenses, Hardware, etc., remain the same no matter which country you’re in
- Consider your vocational training, taking up brand new tools as well as also methods, participation in conventions, trade fairs, off-line courses, etc.
- Don’t forget to budget for medical as well as also travel insurance for your staff (=YOURSELF!), accounting as well as also auditing, visas as well as also possible work permits, as well as also perhaps legal assistance depending on where as well as also how you setup your business
- Consider provisions for retirement – no employer will do which for you as a Digital Nomad
- which is actually far easier to “gear-down” to a low-cost/low-income lifestyle than what which is actually to “gear-up” to a high-cost/high-income lifestyle
- Avoid the low-cost/low-income trap: which may be tempting to decrease work effort as well as also income to a level where you have a comfortable day-to-day life in a low-cost country. However, returning to your home country (sometimes destiny calls… ) may become a real challenge unless you have arranged sufficient funds
Company Secretary or corresponding service
You will need a skilled as well as also reliable agent to handle your business practicalities as well as also administration; such as a physical address as well as also maybe phone number for your business, mail forwarding, keeping track of statements as well as also returns to hand in as well as also when to do which, renewal of business license, accounting as well as also auditing… The right support will give you the freedom to focus 100% on productive work as well as also to develop your business – wrong support may cause unnecessary as well as also extremely annoying pain as well as also headache. Take your time as well as also be meticulous who you hire!
Keep not bad track of your expenses, earnings, as well as also receipts
which is actually important for any business! However, a Digital Nomad office is actually usually “located” in a suitcase or a backpack, daily operation is actually carried out through brand new sites in different corners of the planet, as well as also the whole operation must be able to pack/unpack easily as well as also frequently. which is actually important to have a not bad as well as also simple system for your papers as well as also records, to conveniently bring them along while travelling. Scan everything regularly as a backup, as well as also/or mail which to your company secretary (using assured mail!) right now as well as also then.
Responsive to clients
which too is actually valid for any business, nevertheless may turn out a challenge for the Digital Nomad. I found which email is actually the preferred means of communication, as well as also I use out-of-office message when outside internet coverage. Give an estimate for when you will be reading email next time as well as also don’t forget to specify what timezone you refer to. I use Skype as well as also additional internet voice services, nevertheless I avoid using them for the first few contacts that has a brand new or prospective client, as the quality of service can be unreliable.
Data as well as also account management, backup etc.
which is actually extra important for Digital Nomads as we are, per definition, mobile in our work. A laptop thrown around by a frequent traveller includes a higher probability of a failure than which’s colleague in an office or home environment. Frequent traveling also makes for a higher risk of theft. Make sure you backup important data frequently as well as also to multiple media, as well as also to store different backup media in separate places – e.g. a modest portable disk drive in your backpack as well as also a memory stick in your pocket. There is actually also the possibility of cloud storage. I do not use such personally, as which makes which impossible to work offline as well as also I definitely prefer to keep data in my own hands.
You may consider to use some software service for your user ids as well as also passwords.
Lean nevertheless orderly project administration
I recommend lean, simplistic yet efficient as well as also orderly project administration for the Digital Nomad! I use my smartphone, GTasks as well as also Google calendar to keep track of projects as well as also client activities. I also follow a simple nevertheless bullet-proof process to handle RFQ:s as well as also brand new projects.
Hardware as well as also Software
which is actually not negotiable. If your smartphone gets stolen, your computer crashes or needs upgraded memory, or which brand new as well as also lucrative project requires a certain software – there is actually not much of an option except buying whatever is actually needed. as well as also you will be likely to find proper supply inside nearest big city, almost anywhere inside planet. However, if you are in a country that has a different character set (e.g most Asian countries) which may be difficult to find your old familiar keyboard. English keyboards are usually available, nevertheless be prepared to solve a few challenges inside language area. which could be worth mentioning which copy software does occur in certain places, so beware.
Assuming which you have already arranged insurance for your personal protection, which may be worthwhile to look into a company insurance too. To cover liability in case you make a mistake in your work, get your laptop with important confidential client information lost or stolen or hacked… Not easy to get, as well as also may be horribly expensive, nevertheless at least worth looking into.