4 Things I Wish I Knew Before Running My Business as an Expat or Digital Nomad
Picture this: me, a French marketer, swapping a busy life in London for the stunning views of the Andes of Argentina. With a laptop in tow and a suitcase full of dreams, I dove headfirst into the Argentinian lifestyle.
Being a digital nomad and running a business from anywhere in the world sounds like a dream come true.
The initial thrill of freedom and flexibility was liberating, but as the months passed, I realised that the reality of running a business from anywhere in the world was far more complex than sipping cocktails on a beach with a laptop.
Here are four crucial lessons I learned along the way.
1- Living abroad isn’t a holiday
The biggest misconception about being a digital nomad or living abroad is thinking that it’s a permanent holiday.
It’s not. Yes, you’re exploring new places, but you still have to work.
Imagine trying to focus on a project while the Eiffel Tower beckons outside your window.
It’s a balancing act that requires a complete mindset shift.
Work-Life Balance Is Key
Creating a healthy work-life balance while on the move or living in a foreign country is crucial. It’s easy to blur the lines between work and leisure when your office is a hammock, a sunny backyard or a cool riverside cafe.
Setting boundaries is important.
Establish a routine that allows you to enjoy the surroundings while staying productive. Have set working hours and stick to them.
Your regular Travel insurance may not be ideal
Not all travel insurance will cover you for long-term travel. Until I was able to find a way to get local medical coverage here in Argentina, I had to get long-term travel insurance to cover me in case of emergency. However, my regular travel insurance wasn’t a good fit for my particular situation. If you’re always on the move, the usual coverage will only cover some of your needs.
Imagine getting sick in one country and needing treatment in another or your own country back home. That’s where things get tricky.
Here are some tips: Check if your insurance covers multiple countries and multiple months. Have a good look at the small print. Some policies exclude activities like scuba diving or mountain climbing. Make sure your insurance covers long-term stays, trips back home and repatriation, in case of emergency.
I wish SafetyWing existed back when I first moved to Argentina in 2010. Since then, I’ve picked them for my travels outside of Argentina (since I’m covered nationally anywhere in Argentina through my Independent contractor (monotributo) contributions and obra social).
SafetyWing is an insurance company designed for digital nomads, covering healthcare in multiple countries. Plus, they have affordable monthly plans.
Their “Nomad Insurance 2.0” is now available worldwide and their updated claims process is better than ever. You can start a claim in just five minutes, and the current average turnaround time is 2.7 days from submission until reimbursement
Common claims include lost luggage, medical emergencies, and trip cancellations. To handle these, report incidents as soon as possible. Keep all receipts and documents.
If you lose your luggage, get a report from the airline. For medical claims, see a doctor and get a detailed report.
The 2 most important parts are to keep copies of everything and submit your claim promptly.
With the right insurance, you can focus on your adventures without worrying about what-ifs.
2 -You are on your own. Start building a Community from day 1
Constantly moving means leaving friends behind and starting over, again and again. Building a community is vital for emotional well-being and professional networking.
Constantly moving means leaving friends behind and starting over again and again. It’s tough, but it’s also a chance to meet new people. Building a community is vital for your emotional well-being and professional networking.
You’ll need to find your tribe. Look for coworking spaces where you can meet other digital nomads.
Join groups that cater to your interests. Facebook and Meetup are great platforms to find like-minded folks.
Networking isn’t just for business; it’s about making friends too.
Attend local events and talk to people. Don’t be shy. It’s all about putting yourself out there. And remember, everyone feels a bit awkward at first, so you’re not alone in that.
The more you connect, the more you’ll feel at home, no matter where you are.
3 – Work out your monthly budget and prepare for the rainy days
How much does paradise cost? More than you think. Budgeting isn’t just smart—it’s necessary. You can’t always predict what you’ll spend, but you can prepare for it.
Hidden Costs of Nomadic Living
There are hidden costs you might not think of. Travel insurance, coworking spaces, local taxes, and even currency exchange fees can add up. Always have an emergency fund for unexpected expenses, whether it’s a medical bill or a sudden need to fly home.
Working while travelling isn’t always possible so you’ll want to consider long-term renting in some locations so that you can focus on your business that you’re running online.
Some months, clients can be hard to find. Some months, the internet has been crappy everywhere you go.
Some months, you just need to rest and take a break from work.
Some months, you may feel homesick or need to travel back home for emergencies.
4 – Tech will be your biggest challenge as an online entrepreneur.
Nothing ruins productivity faster than a poor internet connection or missing essential software.
Equip yourself with the right tools to keep your business running smoothly.
Tech will likely be your biggest headache as an online entrepreneur on the move.
Staying Connected While Abroad
Your laptop will crash at the worst moments.
Slow Wi-Fi in your dream destination will make you want to pull your hair out. Reliable internet is your lifeline.
Invest in a good VPN and know where to find solid Wi-Fi.
You’ll be juggling time zones and missing calls because the clock on your phone didn’t update.
Tools like Slack, Zoom, and project management software like Trello can help you stay connected with your team and clients, no matter where you are.
And then there’s the constant battle of keeping your gadgets charged. You’re always on the hunt for plugs or carrying heavy power banks. In countries like Argentina, you’ll find 2 different kind of plugs and may not have the right adaptor to charge your phone or laptop.
You’ll face security risks too. Public Wi-Fi is a hacker’s playground. Your data could be stolen before you’ve hit ‘send’. Plus, you’ll need to update software and back up your files without decent internet.
Tech troubles will test your patience, but it’s all part of the adventure. It won’t be easy, but if you’re prepared, you’ll conquer it.
Conclusion
The digital nomad lifestyle offers unparalleled freedom and endless adventures.
However, it’s also demanding. By planning ahead financially, setting clear work-life boundaries, building a supportive community, and arming yourself with the right tech tools, you can thrive as a digital nomad.
Embrace the journey, grow from the challenges, and enjoy the amazing experiences that come your way.
