If you crave the life of a digital nomad but want to do it on your terms as a business owner, the following five business ideas are a great place to start your brainstorming session.
1. Run an eCommerce site
While many early adopters had a great run with dropshipping, your chances of finding success in this now-saturated market are slim. Of course, that doesn’t mean you shouldn’t try if that’s where your heart lies. However, in the 2020s, a more reliable alternative is available.
You can start an eCommerce store catering to a specific market and partner with a 3pl fulfillment company to handle your eCommerce order processing and warehousing at an affordable rate. You focus on developing the website and a loyal customer base, and they’ll manage the logistics. You can also outsource tasks like web design, SEO, and marketing to free up your time for travel and adventures.
2. Start a digital marketing agency
Starting a digital marketing agency is an excellent idea if you’re a gregarious person who finds it easy to make connections as you travel. You’re sure to meet talented writers, graphic designers, software developers, and UX/UI experts on your adventures as a digital nomad. These people generally have their own client base but are almost always happy to make new connections and take on new work.
So, if you handle the marketing and client relations, you can have them handle the work while you take your cut from the overall income. Be warned: this takes some setting up, and it’s worthwhile having a business lawyer help you with the necessary contracts. However, once you have all your processes in place, it’s the perfect business for those who love to mix travel with work.
3. Run a blog network
This business idea suits those with the required digital skillset who prefer to earn their income with minimal human interaction. The basic idea is that you either purchase existing blog sites or start your own and build them up to have a good amount of quality content, high domain authority, and a low spam score. You can earn money in various ways, including ads, affiliate links, and hosting guest posts.
4. Sell your expertise
From hair and makeup to engineering, if you’ve developed expertise in almost any industry, you can profit from it online. The way you approach this will differ depending on your niche. However, some ideas include creating and selling ebooks and online courses or starting a YouTube channel you can monetize.
5. Become a financial advisor
If you don’t already work in finance, this may take an upfront investment of time and money to gain the requisite qualifications. However, once you’re suitably qualified and experienced, you can make a great deal of money as a remote financial advisor. In fact, you can do very well for yourself by tapping into the digital nomad market.
Most digital nomads have the goal of working less and traveling more, and it takes excellent financial advice and a sound investment strategy to achieve this goal. Develop a reputation for being the person who can help people achieve this dream, and you’ll be set for life.
Whichever business idea you go with, the key is to take the core concept and make it your own. Find a way to set yourself apart, and you’ve got the right foundation for success as a nomadic business owner.