Consider Living Abroad As an Entrepreneur

While the millennial generation is one that is blatantly fond of travel (and will show as much constantly through their Instagram and Snapchat pics and videos), most of the population will still live out their life in one country without ever living in another place. A smaller though far from insignificant portion will never even make it out of their country for so much as a trip.

For some, that’s safe and comfortable, for others, it’s a bit depressing. Whatever your perspective, this content is going to dig into a few ways in which living in another place might just be the key to unlocking the full potential of your entrepreneurial self. Please note that this list is far from exhaustive.

You’ll gain a new perspective (and on more than just business).

Do you remember your friends who went to study abroad in high school or college and then came back and it was all they could talk about? They acted like something was ‘missing’ for them now that they were home. It was annoying, right?

Well, there’s some truth to that sentiment, actually. Sometimes, gaining outside perspective can help you get more clear about defining your own goals, what you want in life and why exactly you want it.

Plus, sometimes you’ll learn of business practices that are common in another country but might not have made it back home yet – could you be the one to seize those opportunities?

You might find tax law easier or more favorable.

This is obviously a highly country by country bullet point, but some aspects of US tax law punish entrepreneurs, especially when they consider themselves still to be freelancers or consultants. Some other countries take a view that more encourages entrepreneurship, though setting up your own business abroad for a visa can also be tricky.

This is probably the lowest in terms of importance on this list.

Cost of living can be lower.

In many countries, entrepreneurs who want to be able to bootstrap their companies and not take outside investment may find it easier to cover costs of living than in the US. It’s no secret that many “internet marketing gurus” live in Thailand (whether that’s because they just needed a good place to get started or that they’re faking their wealth and have no choice, that remains up for debate). Even so, this can be a serious boon to someone who is early in their business. Plus, the internet removes many boundaries from selling somewhere you aren’t actually headquartered, so you won’t have to worry nearly as much about the potential negative implications that this type of move would have brought around 30 years ago.

A change of environment can be stimulating.

Last but not least, everyone from writers to artists to purebred entrepreneurs in the world of business have been inspired by their travels abroad. It’s hard to quantify exactly what stirs within people when they travel, but – at risk of sounding a bit ‘out there’ – there’s a chance that things will just click for you.

Go big with your business, or at least, go further.

Habits for Working More Effectively

Today we’ll cover some habits for working more effectively:

Slash Your To-Do List

Most of us note down every little task that might need to get done throughout a day and then scramble through in a mad sprint to get them all done. Instead, consider slashing your to-do list down to only the most important tasks to growing your business so that you can actually give those things the attention they deserve.

Say Yes Less

While it’s always important to make sure you’re delivering top quality to your customers, there are situations in which you can get yourself into trouble. For example, software as a service (SaaS) startups often make the mistake of charging their first few large companies to use the product, but not for any kind of priority support. In the end, these companies end up wasting thousands of dollars worth of work hours guiding companies through simple software steps over the phone, helping them fix errors, and playing personal coach.

If you’re not getting paid for something, consider politely declining and letting the asker know that you just have too much on your plate right now. This can free up a surprising amount of time for many freelancers and independent business owners.

Use your mornings you ‘you’ time.

Let’s face it, many of us get up in the morning and jump right into our work – the earlier you start, the earlier you can finish, right? When looking at the lives of highly efficient and successful people across any number of fields, it becomes quickly apparent that morning routines are important to an alarming number of them!

When you get up in the morning, start out in a way that physically and mentally stimulates you and gets you ready for the day. It could be a quick jog and a read through the morning news, a small creative task that gets the juices flowing, whatever works!

The most important thing here is consistency.

Bring others in earlier than later.

Remember those tasks you took off of your to-do list? They may not be high ROI, but many of them may still need doing. To help with this, consider bringing on others to help you with the tasks you don’t deem a great use of your time. For many online marketers, the first step ends up being to hire a virtual assistant who can help you with time consuming but low-skill requirement tasks to free up your own time.

As you grow, you may consider growing your team further in similar fashion, or may decide that the right move for you is to become a registered business and start ramping up your workforce in a big way.

In any event, most people wait way too long to start delegating the tasks that eat up so much of their time – don’t be ‘most people’!

Lose the guesswork.

Finally, start backing up every move you make with data. Intuition is great, but can you really say your sales page needs a new headline before testing? Can you really say that your product or service needs a complete makeover if you haven’t confirmed this through discussions with your customers or target market?

Too often, we confirm our own assumptions with our own thoughts, rather than hard evidence, and that can be a death sentence!