Making Location Independence Your Asset
Most location independent businesses aren’t built to benefit from their location independence.
When a founder decides to travel full-time, he or she accepts that their business may be a little more unstable due to this decision. This sacrifice is worth it, however, because the lifestyle of continuous world travel, exploration, and freedom is important to the individual.
A few things you’ll deal with as a traveling company owner that you could avoid if you stayed in one spot…
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Bad Wifi at times when you really need a strong connection
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Calling a client 1 hour too early or too late because of time zone confusion
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Staying up all night to communicate with people in America and Europe
Being location independent is typically thought of as a business liability, not an asset.
What If Location Independence Was An Asset?
How could you, as a location independent entrepreneur, benefit from your lifestyle of travel? Could it actually give you a leg up on your competition?
Yes!
Here’s a few examples…
1. You Can Shake Hands Around The World
I’m launching an Amazon business.
The typical route that Americans take is to go online to sites like Alibaba.com to find suppliers who they can buy from in bulk. You don’t get much of a relationship with suppliers, and it’s impossible to test the quality of products without ordering a sample.
I’m in Hong Kong and getting my visa to China next week. For the month of October I’ll be exchanging business cards with manufacturers and shaking hands with the suppliers that other Amazon sellers are struggling to reach via email!
I’ll instantly be able to assess the quality of products and the people I do business with will know that I’m serious and could ‘drop in’ at any time to assess the quality of my shipment.
If you’re based in America, imagine how special you can make a client feel if you initially called them them from California and take a trip to Chicago or Boston to seal a deal with them over lunch.
Here’s a way to give clients a unique experience even if you can’t meet them personally!
2. You Can See New Markets For Products
This sign is a TV screen (playing a video of fire) behind a metal silhouette. I’ve never seen this in America!
I’ve been based in Asia for the past 8 months. The culture is so different than in the West! This means a lot of unique experiences, but it also means a whole host of business opportunities you would never be able to see at home…
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Products are for sale here that aren’t available in North America or Europe!
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Unique services you see everywhere in Asia could be re-worked and used your home country
An example of this was some unique incense that I’ve rarely seen in America but that is very popular in Asia. Unlike most incense I’ve seen that’s a straight stick, this is in the shape of a spiral. It’s popular in Asian temples because the incense lasts so much longer and doesn’t need to be replaced as often.
I asked myself ‘Would anyone in my country like a longer lasting incense stick?’ I’m looking forward to seeing my first shipment soon. Exposure to new products and services allows for these kinds of ideas to ‘flash’ into your mind.
3. You Can Network Around The World
There are innovators everywhere!
Want to find the best experts in your industry or who have succeeded in your type of online business? I promise, they’re not all conveniently located within a 150 mile driving radius. (Even if you’re located in Silicon Valley!)
By being able to pick yourself up and go wherever you want, you can plan your travels around who you want to meet and where they are located!
If you’re in the United States, why not road trip between Boston, Atlanta, and Chicago to have lunch with your mentors?
You can go wherever you want, and you needed an excuse to see those cities anyway… right?
When I was in Vietnam, I met many members of the startup community in Hanoi in the north. When I told them I was traveling south, they helped me connect with a similar community in Ho Chi Minh!
By reaching out online, I was able to intern for an entrepreneur in the Philippines and live in his resort!
Now that I’m in Hong Kong, I’m personally meeting other Amazon FBA sellers located in China!
Need I say more? This is awesome!
The Takeaway
There are a lot of challenges involved with running a location independent business. Many could be avoided if you stayed in one place.
There are also lots of benefits to building your business with location independence in mind. I’ve gone over just a few here.