Why Living Abroad Is The Best Time To Build a Business
If you’re someone who lives abroad as an expat, you should know that you are in a great position to build a business.
Over 95% of the people who come to James Hopkins Coaching to learn to start a business are living abroad. The other 5% might be living at home with plans to eventually live abroad, or return to living abroad.
The reason why I want to point this out is because business is thought to be this huge endeavor that requires offices, tons of legal paperwork, high overhead costs, and of course, having to be in their “home” country.
But the truth is, none of these are true when building an online business.
It’s very simple really.
What’s important is that it’s easier to start and build an online business while living abroad.
The biggest reason why this is true is because cost of living is cheaper in other countries compared to Western countries.
The low cost of living when combined with the amazing cultural experiences is what makes living abroad so appealing.
When you don’t have a high cost of living, you can afford to live off a lower income, which is why many of the clients of James Hopkins Coaching love living abroad.
Of course, you don’t want to be living off a low income, but the fact that you could for a few weeks gives you the leverage you need to start a new business without worrying about needing too much money.
So let’s say you land your first client at $1500 while living in a Western country. It’s difficult to live off $1500 because of the cost of living. But if you already have a job and can use it to supplement your income, then that helps.
If you land your first client at $1500 while living in Bangkok, that can be life-changing for you because it gives you the income to live comfortably abroad.
And then within a week or so, you land your next client at $1500-$2000 and now you’re making over $3000 per month.
When you’re making multiple 4 figures per month while living abroad, you can actually enjoy life and have the experiences you want.
Many of the clients in James Hopkins Coaching end up landing a few clients that make them $3000 to $5000 per month which ultimately enables them to do what they want like traveling or spending time in their country of choice.
The low cost of living gives you more leverage because you don’t have high costs that you have to worry about.
When you reduce your financial stress, you can focus on what really matters which is growing your business.
At the same time, you’ll be able to build your savings and grow it further while living abroad.
In addition to the absence of financial pressure, you also don’t have the pressure from family and friends that you would back home.
Chances are, when you decided to live abroad or go travel, you probably faced some resistance when others found out about your new choice.
Anytime you start out a new venture like a new business, you deal with naysayers from friends and family who don’t believe in what you’re doing too.
But when you can physically remove yourself from their doubts, you don’t have to listen to them or let them get in your head.
When you can reduce the doubters in your life, you can spend more time being positive and focusing on building your business.
Staying positive and focusing on new opportunities will allow you to grow faster and push forward.
Being in a good mental state is one of the biggest drivers of growth and will lead to toyou starting a new successful online business.