Dear entrepreneur, or a future one,
If you decide to leave your job to build something, embrace the digital nomad lifestyle. It’s a way to trick the market and offer you some ways to succeed without being broke…
The digital nomads are those people who thank their remote job can travel non-stop through the world while still earning a living.
It’s a new community. They are neither expats because they tend to stay short-term in a specific location, they are neither tourists because they go to a place to live and not to visit. The visits occur during the breaks…
You can find them in coffees, and co-working places dressed in short and tongues. They are quite easy to notice. I have been experiencing this lifestyle for two years now.
One start-up needs at least three-five years to grow and be sustainable. Some businesses achieved this goal before. It’s often those bombing start-ups you can read in the newspapers. If we didn’t have the chance to join “The Family”, the Take-it-easy dream has 1 chance on 10 to succeed.
4 reasons to fail, 4 reasons to succeed as a digital nomad.
There are some common reasons why 50% of start-ups don’t last for more than 2 years.
- Lack of cash flow (we don’t have enough money to continue.)
- Internal problems (with the business partner, the shareholders, etc.)
- A product/service that none wants.
- Bad timing
Lack of cashflow
You are aware that the world is unfair about wealth. For exactly, the same burger the famous Big Mac, you can pay 7 € in Belgium or 1 € in other countries.
The digital nomad lifestyle allows people to live for cheap without touching their lifestyle. Often, they upgrade it. So that’s why, in Thailand.
- I never have to cook again. (around 1€ the meal)
- I never had to do my laundry. (0,5 €)
- I never had to worry about how I can pay my rent (150 € with swim pool).
So yes, in other countries, you can live like a king and still be on a budget. Are we opportunists? Yes, of courses.
Entrepreneurs are opportunists. In Western Europe, I counted every penny to end up around 800, 900 €. On the way, I’m closer to 500 € (flights and assurance included) and I never look at my expenses. Imagine each month you reduce your cost by half without limiting yourself. In my personal example, I save 400 € every month. You can invest this money in your own start-up (website, email marketing, Google Ads etc.). If you stay in Western Europe to build your app, web and brand, you’ll invest less and be out of cash sooner than if you travel.
Your network is certainly key in your success path. It’s from your network that you’ll meet your business partners and eventually your future shareholders. In Brussels, I had the feeling that I always met the same kind of people during all my start-up meet-ups.
Travelling will allow you to totally change your connections. The digital nomad community is big, and everyone tries to connect with each other. Let’s not be confused here. During the events, everyone tries to sell his stuff, but they are ready to help each other (masterminds, free workshops, etc.). It’s a mindset that I haven’t seen yet in Brussels.
Only robots can’t stand the pressure on a long run. See it like this. You share a rent with your girlfriend for 1600 €/month in Amsterdam. Because you need to, you work daily very late and almost never see your girlfriend. Because the economy is hard, you don’t have enough to pay the rent… As soon as you’ll have small friction with your business partner, everything will explode… I can assure you. Relaxation on the seaside, the sun on your skin are some pleasures that re-energize you immediately.
A product than none wants.
As an entrepreneur, you’ll create added value once you have come with a different perspective and vision. Being stuck in our hometown won’t allow you to discover new ideas and expand your creativity.
If you are aware of the Internet bubble, you’ll realize that even your social media and search engines show us always the same content… Great ideas are everywhere. I’ve found the greatest video ads in Malaysia and Thailand. By discovering the immensity of the world, you’ll expand your knowledge and capacities to innovate in your own market.
In the cash flow example, I proposed to reinvest the money you saved. Another solution, it’s to use this money to survive for a longer period. You are just waiting for a good moment to launch.
Not too late, not too early… In Belgium, with the same lifestyle expenses, you can work on your start-up one month. In Asia, you can work for two to three months. You double your time to build your app and product.
A start-up is a long journey. Don’t see it as a sprint but as a marathon. Oussama from the Family said,
“If you don’t grow, you are dead.”
The growth is not linear though. Maybe, nothing happens the first two years and then the third year it explodes… Don’t forget that if you are new in the sector there is a long learning process… Except if you are already experienced consultant and you launched your firm, some entrepreneurs begin with a dream, the rest is about learning.
There are drawbacks to digital nomadism. You are far from your clients, with a different schedule, no physical touch etc. Do the pros and cons. I understand the digital nomad lifestyle is not for everyone. I just wanted to show you a new perspective which is not famous among our peers.
For better entrepreneurship around the world,