Digital nomadism is rapidly becoming a mainstream trend with millions of people from all occupations choosing life on the road. The main pull of this lifestyle is freedom and it’s true that it opens quite a few amazing opportunities for you to explore. Entrepreneurs can reap a multitude of benefits from the nomadic lifestyle, but they will also have to face some big challenges.
Only you can make the decision on whether the pros beat the possible cons. But you should know that the technology of today can certainly help to overcome the biggest of those challenges.
Top 6 Advantages Of Being A Digital Nomad Entrepreneur Today
1. Freedom
The freedom of being your own boss is one of the main reasons people become entrepreneurs in the first place. But becoming a digital nomad will take this freedom to another level. You will be free to choose where to go as well as when and with whom to work.
2. Building Your Own Global Network
An entrepreneur needs to meet new people in order to expand their business opportunities. As a digital nomad, you will travel the world, which means you will be able to take this networking to a new level. In essence, if you are smart about it, you will be able to build a global enterprise that will use the best opportunity available in every country you visit.
3. Decluttering Your Life
Multiple studies prove various psychological benefits of decluttering and minimalist lifestyle. Being a digital nomad means you’ll need to not merely travel but to live light. And by getting rid of clutter, you will clear up your life on every level.
4. Creativity Boost
Traveling, meeting new people, seeing new places, and experiencing new cultures all contribute to developing your creativity. Not only will you be able to draw inspiration from these experiences. You will also gain new perspectives by observing foreign customs.
5. Improved Productivity
Due to being generally happier and more comfortable, remote workers are more productive. That applies doubly so to entrepreneurs who also increase their productivity due to the creativity boost mentioned above.
6. Saving Money
Living as a digital nomad can be cheaper than staying in one place. At the minimum, this allows you to save a lot on housing costs as well as rental payments for an office. Accommodation is cheaper in the majority of countries that usually attract digital nomads. Therefore, even with the airfare, you will still be saving a lot of money in the long run.
Challenges Of Being A Digital Nomad Entrepreneur & Tips To Overcome Them With Tech
You would do well to remember that for all that it’s often depicted this way, the digital nomad lifestyle is far from perfect. If you choose to go down that route as an entrepreneur, you will face many problems, both professional and personal. Of course, all of them can be resolved if you plan for them and use proper solutions. However, as this will require a lot of work and dedication, you will need to consider the main challenges of this lifestyle before you decide if it’s the right choice for you.
The main challenges you need to prepare for are:
Expensive International Payments
One of the main issues you need to take into account is the high cost of international money transfers. Simply put, the cost of sending or receiving payments abroad can be so high, it will eat up the profit your business can generate, thus making it unsustainable.
These problems get particularly pressing when the nomad entrepreneur decides to travel popular island vacation spots. Those places usually have few banking options, thus making any financial transactions both more complicated and expensive.
Luckily, today you can transfer money without overpaying on currency exchange to any part of the world, even to Cyprus and other popular island vacation destinations. Online money transfer services enable you to make any international transfers fast and cheap. These companies usually offer the currency exchange rate close to mid-market. They also either don’t charge fees at all or keep them low. This means you get a chance to actually make some money from your entrepreneurship regardless of where exactly you are traveling.
Logistics
It can be hard dealing with the logistics of a stationary business that works internationally. It will be much harder to do this when managing your company as a nomad entrepreneur.
To prevent serious problems caused by logistics failures, you should use digital solutions and services that will take over this part of your business and help you manage it remotely. Depending on your situation, you might need to use several solutions or simply have one custom-developed for you.
Loneliness
It might surprise you but loneliness and feeling isolated are one of the biggest problems that make many digital nomads settle down. These issues can lead to depression and other psychological problems, so they must be dealt with right away.
The best solution to this problem is easy. You simply need to expand your social group. Go out there and meet new people, which will also help you to build your own global network. You also need to stay connected to your friends and family using the Internet.
Is The Digital Entrepreneur Lifestyle Right For You?
As you can see, being a digital nomad entrepreneur isn’t easy and it’s certainly not for everyone. Only people who are dedicated, goal-oriented, and ambitious can achieve success in this venue. If you meet the criteria, you definitely should give it a try. If you don’t like it, you can always skip a program. This will help you understand where your future lies with more clarity.
