With the rise of remote and flexible working, the digital nomad lifestyle has become an achievable dream for many young entrepreneurs. There’s a lot to love about living out of a suitcase with just your laptop for company, and the freedom to travel the world while building your business is hard to overvalue.
However, as with any amazing lifestyle, being a digital nomad is not without its challenges. There are plenty of issues and realities to consider if you want to enjoy yourself, see the world, and succeed with your business all at the same time, and being a digital nomad requires a careful balance of efficiency, flexibility, and smart decision-making.
So if you are a young entrepreneur and you want to launch your brand while lazing in a hammock in the Caribbean, exploring vibrant cities in South America, or even sailing to the Mediterranean, here are a few tips and tricks on how to make the digital nomad lifestyle work.
Choose Your Destination Wisely
When you can live anywhere in the world, choosing your destination becomes incredibly important. If you are a digital nomad, not all locations are created equally, and if you want your business to thrive you will need to pick somewhere that is set up for remote workers. Spots like Chiang Mai in Thailand, Bali in Indonesia, and Mexico City in Mexico are good choices, as they offer a great combination of good infrastructure, solid wifi, and low cost of living. Europe boasts some great options too, with cities like Lisbon and Prague delivering cultural highlights while still being affordable.
Master the Art of Time Management
When you are your own boss, you have total responsibility for your time. As a digital nomad this can be exhilarating – you can set off on amazing adventures, trekking jungles, surfing waves, and exploring new cities whenever the mood takes you. However, it also means you have to be strict with yourself, as too much enjoyment will end up having a negative impact on productivity and achieving your business goals. Productivity apps like Asana or Trello can be a great help in managing your time, and it is important to set working hours and daily goals in order to ensure that you meet your targets and maintain efficiency and effective working practices.
Budgeting and Financial Management
Living life as a digital nomad often means living in extremely affordable destinations, which means you can often enjoy a lifestyle you might not be able to achieve back home. But while everything might seem glamorous at first, it is important to manage your money and maintain order in your financial situation, to prevent things spiraling out of control. Don’t forget that everything from exchange rates and visa applications to medical emergencies or last-minute travel can mean your spending can change extremely quickly, and living abroad means you usually don’t have access to the same safety net as you would at home.
Find Your Workspace
While sitting in a quaint cafe with your laptop or working from a hammock on a beach might sound like a dream, these idealized workspaces might not be ideal for long, serious work sessions. When you are picking your destination as a digital nomad it is important to consider where you will do most of your work and ensure that there are plenty of options. Working from home is fine for some, but others prefer the separation and sociability of co-working spaces, as they offer strong wifi and the potential to network and connect with other digital nomads and entrepreneurs.
Being a young entrepreneur is perfect for the digital nomad lifestyle and traveling the world while growing your business can be an incredibly rewarding experience. By following these tips you’ll be able to make the most of the freedom this lifestyle offers while also finding success as you build your brand!
