How to Set Up a Successful Location-Independent Business

Independent Business

Location-independent jobs tend to be among the most wonderful and fulfilling careers you can opt for, allowing you to travel the world and experience different cultures and surroundings, while being able to work anywhere and anytime.

However, building a location-independent business isn’t quite as simple as leaving your desk job and hopping on a plane; it takes careful planning and preparation to overcome the challenges that come with remote working, and build a fruitful career.

To that end, here are some useful tips that will allow you to set up a successful and prosperous location-independent business:

Creating a Smart Initial Plan

When contemplating a location-independent business, the wisest option would be to change careers gradually. Before quitting your current day job, try to find another sustainable source of income, and aim to build a good reputation around your business.

Creating a Smart Initial Plan
Businessman Sit Inside Car Use Mobile

For instance, you could start working freelance online, preferably in a field where you already have some necessary experience, whether that means writing, graphic and web design, or IT services.

Although working two jobs simultaneously might be challenging, this will allow you to increase your profits by reducing the cost of business travel, while also giving you the opportunity to start off your location-independent career on a good foundation, both in terms of financial security and experience in the field.

Selecting the Right Destinations

While traveling the world might arguably be the best benefit of a location-independent business, it’s worth mentioning that not all destinations will be suitable for your new lifestyle. Apart from beautiful surroundings, you will also need an appropriate office space for working, high internet speeds, as well as other facilities that might benefit frequent travelers.

For that reason, it might be a good idea, to begin with, the top destinations that are known for accommodating remote workers well, such as Spain, New Zealand, Indonesia, and Thailand. Regardless of which destination you choose, always try to find the perfect compromise between your personal wishes and preferences, and the suitability for efficient location-independent working.

Choosing Suitable Accommodation

Suitable Accommodation

Even though hotels, hostels, and AirBnbs might be wonderful solutions when traveling as a tourist, none of these options provide enough privacy and a suitable environment for remote working, while also being quite costly, especially when it comes to long-term stays. Instead, you might want to consider alternative accommodation options that are more suited to a location-independent lifestyle.

For instance, you could follow the example of remote workers in Hong Kong, one of the world’s best destinations for digital nomads. Here, location-independent workers will often find serviced apartments for rent in Hong Kong that offer cozy private rooms and bathrooms, along with communal areas such as kitchen, lounges, and laundry rooms. Such accommodation creates the perfect balance between comfortable living and working, while being suitable both for short- and long-term stays.

Efficiently Managing Your Finances

Being location-independent means you have the freedom to relocate quickly, and invest in more unique and distinct opportunities you wouldn’t have come across otherwise. However, if you’d like to enjoy this wonderful freedom to its full extent, it would be best to rid yourself of any financial burdens, such as loans and mortgages, if at all possible.

Constructing a detailed budget that includes rent and utilities, travel costs, and business expenses, as well as refining your daily spending habits, can all go a long way towards living a comfortable life as a digital nomad as well. Apart from allowing you to manage your finances wisely and afford all the luxuries of a location-independent lifestyle, smart budgeting will also help to ensure financial stability in the long run.

Building Good Working Habits

From intentional budgeting to planning the perfect business trip itinerary, location-independent careers often require detailed organization. But the workflow might be one of the most important organizational aspects, as many digital nomads find working without a set structure similar to their normal 9-to-5 jobs difficult to sustain.

For that reason, the best thing you could do for yourself and your business is to create more organized workdays with set working hours and a designated office space, in an effort to improve focus and increase productivity. Don’t forget to invest in networking and make meaningful connections in every destination either, as a location-independent career is ideal for building a strong global network that will help to grow your business.

Although leaving the security of a day job and deciding on a location-independent lifestyle might be a big and challenging step to make, just a bit of thoughtful planning and a few good habits can evidently allow you to become a happy and successful remote worker.

About the Author:
Mike Johnston is an avid blogging enthusiast and experienced freelance writer. He’s a regular contributor to numerous online publications, where he writes about business, finance, technology, and management.