How Digital Entrepreneurship Eliminates Geographical Barriers and Makes Moving Easier

The Case for Digital Entrepreneurship

Modern technology has changed how we live and work, opening up new opportunities for entrepreneurs. In this day and age, you can run a business entirely online without hiring people, buying equipment, or holding inventory.

Let's say you run a yoga studio. You love your work and things are going well, but you can't travel much because you're tied to a physical location.

The solution? Take your business online and build new income streams. For instance, you could set up a website offering:

• On-demand yoga classes
• Live virtual classes via Zoom or a dedicated platform
• Yoga retreats and workshops (e.g., online events or hybrid experiences)
• Corporate wellness programs
• Subscription plans
• Personalized coaching
• Ebooks and guides
• Branded merchandise

There's also the option to monetize your website with paid ads, sponsored reviews, or affiliate products.

This business model would allow you to work from anywhere and scale up or down as needed. Plus, it likely involves lower costs than what you'd pay in rent for a yoga studio in New York or other big cities.

Digital entrepreneurship also makes it easier to grow your reach. Why limit yourself to a local audience when you could connect with customers worldwide?

Then there's the convenience factor. You can make your own schedule, take breaks as needed, and choose the projects you want to work on. This flexibility gives you time to travel, start new ventures, and do the things you love.

How to Run Your Business While Traveling the World

According to recent data, more than 25 million people in the U.S. live as digital nomads. Several other millions have their "home base" in the UK, Canada, Russia, Germany, France, and other countries worldwide.

The same study found that most digital nomads work from a home office and make around $100K-250K per year—though some have an annual income of over $1 million. 18% are startup founders, and another 18% offer their services as freelancers.

But how do they manage to run a business and move from place to place? The key word here is "planning." This lifestyle isn't for everyone, but you can pull it off if you stay organized and do your due diligence before jumping on the bandwagon.

For starters, use these strategies to plan things out.

Choose Work-Friendly Destinations

Some countries don't allow digital nomads, while others have very strict requirements for them. An example is Belgium and most European countries, where you cannot legally work as a tourist.

However, there are still plenty of destinations where you can run your business on the go. They're safe and remote-work-friendly, with good internet, affordable accommodation, and coworking spaces.

One such place is the Canary Islands, which topped Airbnb's 2022 Live and Work Anywhere list. Other popular locations are Thailand, Georgia, Portugal, Vietnam, and Puerto Rico.

Ideally, look for countries offering work permits or digital nomad visas. For instance, foreigners holding a digital nomad visa can spend up to six months at a time in Thailand. The visa is valid for five years and costs only £300.

Get the Right Equipment

Running a business on the go isn't the same as working from home, and you might need more than a laptop to get things done. The internet connection could fail, the hot weather could wreak havoc on your laptop, and local power outages could disrupt your workflow.

So, build up your tech stack before hitting the road, starting with a high-speed portable WiFi router and other essentials, including:

• Noise-canceling headphones
• Portable power bank
• Waterproof backpack or laptop bag
• USB hub and cables
• Travel adapter
• Laptop cooling pad
• Portable monitor
• WiFi extender
• Back solutions (e.g., external hard drive)
• eSIM card

It's also a good idea to get an ergonomic lumbar pillow and accessories like a foam roller or massage ball. If you can't bring them, ask a friend or family member to ship them to your destination.

Apply for a Multi-Currency Prepaid Card

Exchange rates vary significantly from country to country, and you could lose hundreds of dollars in conversion fees within months. Carrying cash isn't safe, and standard debit or credit cards are not ideal for international transactions.

The solution? Apply for a multi-currency prepaid card like Revolut, Wise, N26, or Payoneer.

With any of these options, you can set up a business bank account and personal account and pay in local currency when abroad. While you can do that with any prepaid card, multi-currency cards often have better rates and may include perks like cashback and rewards.

Establish a Routine

Give yourself a few days to adapt to your new location, recover from jet lag, and make yourself cozy. After that, create a routine that allows you to explore the surroundings and get work done.

Let's assume you're traveling solo to Morocco or Thailand, where the weather is warm most of the time.

You could work from 7 AM to 12 PM while it's still cool, then take the afternoons off to wander the streets, relax, socialize, or go shopping. Resume your projects later in the day when temperatures drop.

The key is to find your peak productivity hours—and structure your schedule around them.

Outsource Routine or Time-Consuming Tasks

Imagine planning a trip just to find yourself drowning in work shortly as soon as you arrive at your destination. Traveling isn't cheap, and you'll want to get the most out of your experience.

One option is to outsource routine or time-consuming tasks like social media management and customer support.

For example, consider hiring a virtual assistant to update your website with fresh content, format your blog posts and landing pages, schedule video meetings, and so on. Think about where you struggle most—and hire someone to help you out.

Again, the key is to plan things out in advance. Leave some buffer time for last-minute tasks or unexpected delays, keep your customers in the loop, and be prepared to adjust your routine.

Also, don't cut corners when it comes to accommodation. Sometimes, it's worth paying extra to feel safe and get the comfort you need to do your best work. After all, you don't want to find yourself hunching over a coffee table in a tiny flat with slow internet and bad lighting.