10 Lessons Learned Boostrapping My Business Living Abroad

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From my presentation to 130 members of Berlin's 4HWW Meetup group in August, 2014

How to Make Friends and Money Around the World:
Bootstrapping a Business While Living Abroad

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10 Lessons Learned Boostrapping My Business Living Abroad

  1. 1. How to Make Friends and Money Around the World: Bootstrapping A Business While Living Abroad
  2. 2. I QUIT!
  3. 3. “People don’t want to BE millionaires. They want to experience what they THINK only millions can buy.” —Tim Ferriss
  4. 4. $1 = 32 THB Thailand
  5. 5. $1 = 44 PHP Philippines
  6. 6. $1 = 1,901 COP Colombia
  7. 7. $1 = 21,180 VDN Vietnam
  8. 8. 2006 - started writing online, began doing web dev freelancing 2007 - read 4HWW, quit my job 2008 - one-way ticket to Thailand 2009 - BKK Tweetup, ISOS, SEA Backpacker Mag 2010 - productized services - Sovereign Man, Chris Ducker 2011 - coaching and membership training course 2012 - the “year of suffering” 2013/14 - hosting events - seminar in SF, retreat in Costa Rica
  9. 9. 1. A Blog is NOT a Business… BUT... it is your modern-day business card can connect you to just about anyone these days nobody is out of reach - authors, millionaires, CEOs get involved in the conversation online
  10. 10. 2. Find a Stepping Stone take skills from your current career & start freelancing find what’s at the center of your abilities, interest, & demand start a side-gig - it’s never too early - or too late- to start OR negotiate a remote work agreement
  11. 11. the “Sweet Spot”
  12. 12. 3. Free Work (yes, free) Charlie Hoehn Recession Proof Graduate .com
  13. 13. 8 Silicon Valley companies Author of Beyond Code, Upbeat and 7 others 13,000+ followers, writes for HuffPo, etc. Rajesh Setty
  14. 14. 4. Find a Mentor / internship
  15. 15. internship opportunities EmpireFlippers.com Linchpin.net tropicalmba.com
  16. 16. 5. Use Geo-arbitrage Live & travel where the cost-of-living is LOW Sell services to high- value markets like US, UK, AUS Practice minimalism. Produce more than you consume.
  17. 17. Bootstrap Abroad Auckland, New Zealand = $1,120 USD Bali, Indonesia = $1,750 Bangkok, Thailand = $945 Buenos Aires, Argentina = $1,425 Cape Town, South Africa = $1,480 Chiang Mai, Thailand = $665
  18. 18. Monthly Living Expenses Costa Rica = $1,060 USD Cusco, Peru = $1,110 Kuala Lumpur, Malaysia = $630 Krabi, Thailand = $1,360 La Paz, Bolivia = $810 Medellin, Colombia = $1,290
  19. 19. Monthly Living Expenses Melbourne, Australia = $950 USD Panama = $1,795 Playa del Carmen, Mexico = $820 Puerto Gallera, Philippines = $1,000 Seoul, South Korea = $980 MORE: Expatistan.com cost of living index
  20. 20. “Fun things happen when you earn dollars, live on pesos, and compensate in rupees.” —Tim Ferriss
  21. 21. 6. Do Not Build in a Vacuum What are the questions people ask you all the time? Actively seek out and ask questions of your target market Incorporate your audience/customers in your story, and let them be part of the process building your products
  22. 22. 7. Ship (then iterate)
  23. 23. 8. MasterMind!
  24. 24. “You are the average of the five people you spend the most time with.” —Jim Rohn
  25. 25. **It Really Is Who You Know Who do you want to be? Find people to “model” Find like-minded people and mentors (nobody is out of reach!) Build a support group Don’t be limited by geography Technology empowers you to easily build a global business
  26. 26. Sovereign Man Network Infiltration report thrl.in/networkinfiltration
  27. 27. Napoleon Hill’s Think and Grow Rich thrl.in/tagr
  28. 28. 9. $$ is for Solving Problems (Use it wisely)
  29. 29. Biz School Crash Course The 4-Hour Work Week by Tim Ferriss The Personal MBA: Master the Art of Business by Josh Kaufman Never Eat Alone by Keith Ferrazzi Linchpin: Are You Indispensable? by Seth Godin
  30. 30. 10. Have a Reason
  31. 31. What’s most important Vision = fuel, your “why” your vision drives your goals Tim Ferriss’ dreamlining exercise is a good *starting* point thrl.in/dreamline Don’t limit your vision for yourself, your business & specific areas of your life Your vision must be fresh & you know it intrinsically
  32. 32. “Twenty years from now you will be more disappointed by the things you didn’t do than by the ones you did.” —Mark Twain
  33. 33. ThrillingHeroics.com @codymckibb
  34. 34. 3 Types of Location- Independent Business Sell a physical product that can be delivered remotely (dropshipping) or a digital product which is delivered entirely virtually (software, info products, web apps, ebooks, etc.) Sell a service that you can provide from anywhere (writing, translation, tutoring, consulting, web design, freelancing) A website-based business (developing sites for resale, generating income through affiliate marketing, advertising, sponsored reviews, referrals, etc.)
  35. 35. Real-World Examples Physical products - LifestyleBusinessPodcast.com Dropshipping products - thrl.in/muses + DropshipDomination.com Software development - Technomadia.com + Leadbrite.com Information products / Kindle / ebooks - ExileLifestyle.com + Karol.Gajda.com + NomadicMatt.com Subscription / continuity - SovereignMan.com + DynamiteCircle.com
  36. 36. Real-World Examples Courses / membership sites - IWillTeachYouToBeRich.com + ManVsDebt.com + DigitalNomadAcademy.com Writing - TheProfessionalHobo.com Language/translation - FluentIn3Months.com Design/development - WhereIsJenny.com Consulting & coaching - BrandSuperpower.com + LovePlayWork.com
  37. 37. Real-World Examples Teaching/tutoring - CraigGonzalesTutoring.com Fitness Training - EpicSelf.com Niche sites/blogs - GoBackpacking.com Affiliate marketing/review sites - ThinkTraffic.com Web Advertising - Untemplater.com + EliteDaily.com Adsense/flipping websites - EmpireFlippers.com

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