For some people, being a digital nomad means that they finance their nomad lifestyle by having a normal employment that can be performed location independent. For others it means running their own business in one way or another. It can be about freelancing as a journalist or translator or do consulting as a developer where the business idea is to sell ones own time at a certain price. It can also be about running a store or sell goods, where every item is sold with a small margin each time, to eventually finance the nomadic lifestyle.
No matter which type of business you plan to run, formulating a business idea about what you set out to do will give you a lot of advantages. So let us go through a few things to thing of to make your business idea last in the long run.
For your business idea to live a long life, you need to base it on something that is such a big part of yourself that you won't let it go easily. It is easier if you are driven by money; you will be hunting every single dollar and any business idea will just tag along. But if you are the least driven by something else in life, make sure that your business idea captures that. As a digital nomad the temptations will be bigger than for most other entrepreneurs and you need to make it easy for yourself to withstand them. When going to the beach sounds more important than writing an angry email to a supplier or dealing with your least favorite customer, you need to have your own passion as a counterweight.
Think about the nerds
Do you have an interest that you don't share with others? Good, because you are no longer alone. Some of the most successful companies started by digital nomads are those that addresses a small niche of people, but spread out all over the world. Do you have a unique sense of humor? Make t-shirts with jokes that only you laugh about. Do you collect snapbacks from the 50's? Build a marketplace for like minded from all over the world.
What to sell
No matter what you set out to sell, even if it is services to review marketing student CV's or if it is wooden toys, think about what you sell as a product. A product that someone can easily understand, what the benifits are and what it will cost them. Imagine why your customers should want to buy this product and why they should want to buy it from you. Also think about who is behind your customer. What are the requirements behind your customer, that they want to fullfil by buying from you?
To formulate your business idea
When you have considered your passion, what you want to sell and whom to sell it to, it is time to put your business idea into words. Don't do it just for others, do it also for your own sake. Your business idea is something you should have available to lean on when tough times comes. Make sure it captures the essens of what your company will be about.
You can read more about how to formulate your business idea in my book E-Commerce for a Digital Nomad.
Download or order E-Commerce for a Digital Nomad here