People ask me all the time how – 'How do I become a digital nomad?' Well, it starts with making an income online. This page will be my breakdown of the top ways that, in my experience, digital nomads are making money online. E.g. these types of businesses / careers / hustles can be done from a laptop from anywhere in the world. They don't require you to be at any specific place.
Work from Thailand, or work from home – these are some of the most popular ways that digital nomads are making money online. I've personally met people who do all these things.
Working remotely: This can be a great starting point - is essentially take what you're already doing or already good at, and do it online. The big picture goal as an entrepreneur is to create passive income streams – but working remotely by 'trading your time for money' can allow you to leave your day job quicker, and start living abroad or traveling. While on the side, you can work on building a passive income business.
Online Businesses: Of course, nothing is completely passive, but these types of businesses can be relatively passive. As always, it's up to you how soon and how much you want to outsource & automate. And of course, it takes a lot of work to start up - like any real business.
Long-Term – Build a 'Passion Business': Personal brand, blog or channel: In my opinion, it takes a long time to build up a personal brand, blog, or YouTube channel to the point of making real money, e.g. over $1000/mo. Like 2-3 years or more, from my experience, and I think this is typical. But I think its something you should be constantly growing on the side.
This is the brief idea, with links to a full breakdown on how-to.
This is my main income. If you know a little bit about it but want to know exactly what is entailed & what it takes, including realistic time & cash investments, I make a mini crash course for that. See it here.
What is FBA?
Fulfillment by Amazon (FBA) is what allows anyone in the world to sell a physical product on Amazon.com. It happens to be how I make my main income ($4-$8k/mo) and what allows Parker and I do to live out here in South Asia and nomad around full time, as we can run our Amazon store from anywhere. It's totally location-independent.
We create & order products in bulk, send them to Amazon's FBA Warehouses, it goes live on Amazon.com, and they handle the orders it from there. Now of course, Amazon is a competitive marketplace, like any marketplace, and a lot of smart work goes in to finding what to sell. To learn more about if this might be something you can do, or want to do, I made an easy to follow mini course for people who ask me exactly that.
There are different methods of drop shipping, but the core of it is, getting your own traffic to sell other people's physical products.
Get paid to do digital projects for clients around the world, who find you through freelancing sites like Upwork and Freelancer.
Publish a bunch of niche books to Amazon Kindle by outsourcing the writing process.
What is Kindle Pub?
Slowly (or quickly) build your portfolio of e-books sold on online platforms like Amazon's Kindle, CreateSpace & Audible. Millions of people go these places to buy books. They will find you by small niche keywords, and buy based off your intriguing book cover, title, book preview, and of course, reviews.
You outsource the writing process for at little as a couple hundred bucks per book, and outsource the ebook formatting & cover design as well. If your books do well, they will continue getting sales for hopefully multiple years – with little to zero maintenance required. But of course it takes deep keyword research & sales demand research to find these little profitable niches!
Some may just call this 'Affiliate Marketing' - but I'm calling this model a 'Passion Business' that can be monetized by affiliate marketing - by building a Personal brand, blog or channel. Because ideally, you are becoming a voice in a niche that you are interested in. What do you naturally like talking about? Simply put, start a blog about it and grow it.
Essentially, it's becoming a voice in your niche. Thus getting targeted eyeballs, to which products & services can be presented.
In my opinion, it takes a long time to build up a personal brand, blog, or YouTube channel to the point of making real money, e.g. over $1000/mo. Like 2-3 years or more, from my experience, and I think this is typical. But I think its something you should be constantly growing on the side.
A personal brand, blog or channel can be monetized by creating your own digital products/services, and offering other products/services via affiliate links – aka affiliate marketing. Down the road, ideally it will become a passive income stream around something you're interested in. For me, its my YouTube channel and this blog. It started out just for fun, and slowly, after 2-3 years, it has turned into a side-income. And in the future, it will grow into one of my main sources of passive income.
Another name people may call this is "Content Marketing" – aka being a VOICE or INFLUENCER out there in a small niche, by creating good content. And you present your audience certain products & services thru affiliate links. Simple as that!
This is a great thing to be constantly be building on the side – your personal brand. Ideally it's in a niche you're interested in, so it turns into a long-term passion project that you make money online from.
BUT – it takes time to build a brand and get steady traffic from content, like through blogging, YouTube or podcasting. So it's recommended to first have a source or more immediate income, and be building a brand on the side.
This is like solo-freelancing, but you hire other freelancers to do all the work, and you keep a piece of the pie. I know several digital nomad entrepreneurs who do this. Build a team of freelancers to get leads via Upwork, apply for & secure the jobs, communicate with the client, and finally, deliver the work. You become more of a team manager. This can be more passive than actually doing the work yourself, and it's scalable. But at first, of course it's a full-time project to build the team, hire people, manage the team, iron out the kinks, and then scale from there to your heart's desire by duplicating the process. IMO this is a very solid option to make good $$ online. I know a handful of guys who profit over $5,000 a month from running this type of business.
I've met many digital nomads who work for a small or medium or large company, just remotely. And they choose to live in other countries and nomad around! Hence making them digital nomads. There's a chapter in The 4 Hour Workweek on negotiating remote-work agreements with your employer. I recommend you check it out.
Copyright LivinThatLife 2018.