How To Set Up A Thriving and Successful Location Independent Business

Thanks to technology and the internet, you no longer have to choose between your career and travel in today's working environment. With the right business model, you can have both.

If you're still doing a desk job and would like to work remotely and build a thriving and successful location-independent business, you might be wondering how to start. These are some necessary steps you need to consider.

Decide On Your Career Path

There are three different ways you can set up a location-independent business, and it's on you to choose the career path that you think can suit you the most.

1. Entrepreneurship. Although it's the riskiest method, it's also the most rewarding one. In this case, you need to start a business that either operates almost entirely online or generates passive income streams. If you already have your company, you can switch it to the remote-based operation or create location-independent sectors within your brick-and-mortar business. A business coach can guide you through the process and help you grow your business.

2. Work remotely. You can either apply for work-from-anywhere positions or turn your current job into remote or work-from-home. There are many job offers that are now entirely online, such as customer service, telemarketing, chat support, virtual assistant positions, etc.

3. Freelancing. You can also choose to work for yourself and become a self-employed freelancer. In this case, it's helpful to have a website that can serve as an online portfolio and sell your services. You can list your previous experience, reviews, and referrals, as well.

Keep in mind that unless you're employed as a remote worker, you'll need to set up your business infrastructure to work "legally," so check out your options in advance.

Choose Your Location

Not all destinations will be convenient for your new lifestyle. Besides beautiful surroundings, you have to consider internet speed, the availability of appropriate office spaces and other facilities.

Besides, hotels and hostels can be costly and not, and the local offer of studios for rent to make a smooth transition. Especially if you're planning a longer-term stay, it's essential that you find a balance between comfortable living and working.

Manage Your Finances Wisely

To truly enjoy your newly gained freedom, you need to manage your finances efficiently. Try to get rid of all the loans and mortgages if you can. Also, construct a detailed financial plan so that you can both live comfortably and ensure financial stability in the long run.

Besides rent and utilities, including your daily spending habits. Also, cover all the costs related to running your business, such as internet, computer and other equipment, website domain, and hosting, taxes and accounting, payment platform fees, and currency exchange charges.

Build Your Self-Discipline

A location-independent business needs self-discipline and excellent organizing skills. Without setting a daily structure you will adhere to, you can hardly enjoy all the benefits of transition or sustain your business.

You should schedule long, uninterrupted periods for your work. To attract good clients and position your business well, your work needs to be on time, complete, and remarkable. It's a good idea to begin your productive hours by making a to-do list of all that you need to do during the day. Go to your favorite quiet space, make sure you've turned off all distractions, such as your phone, social media, etc. and dedicate yourself to your work.

Don't Quit Your Job Until You've Set The Foundations

However, before you choose to make your first step towards building your location-independent business, ensure you've set solid foundations so that you don't put your future at risk. If you already have a job, before you hit the road, use all the available ways to learn what you need to know so you can get your business going efficiently.

You can also consider starting your new career in a field where you already have some necessary experience while still working. Having two jobs simultaneously might seem challenging, but it will allow you to start your remote career on a good foundation, both in terms of experience in the field and financial security.