Here it is. You´ve quit your job and booked a one-way flight to Thailand. You´re finally doing it, you´re becoming a digital nomad. Are you ready?
- You´ve read the ¨The 4-hour Workweek¨ by Tim Ferris.
- You´ve watched YouTube videos on all the ways you can make money online.
- You´ve read blogs by people who quit the 9-5 hustle and became their own boss, they own their own online business, and now make $$$ each month!
What could possibly go wrong? Well, truth be told, you probably haven`t given that question much thought. Have you?
All you can think about right now is laying in a hammock, with your MacBook and a cocktail in your hand. But the reality is, that is not the reality.
Firstly, have you ever tried to use your laptop in the sun?
Hello, GLARE! It`s a terrible idea. Not to mention, overheating problems. Unfortunately, the digital nomad lifestyle has been glorified all over social media.
As a result, ambitious wannabe digital nomads are picturing themselves starting an online business, traveling around the world, being here and then there.
Even though most digital nomads are in fact business owners, the fact is; the failure rate of digital nomads is high.
Most digital nomads fail, and that`s a fact.
There are so many people who move to Chiang Mai, or Bali, or other digital nomad hotspots, and end up going back home after 6 months, usually with an empty bank account.
Not so long ago, the digital nomad lifestyle was an under-the-radar trend. Nowadays, it`s a common aspiration for millions of people around the world.
It´s estimated that there are at least 17 million wannabe digital nomads in the world. So why is it that so many aspiring digital nomads fail? Let´s have a look at the most common mistakes: (and hopefully you can avoid making them yourself)
Not knowing your skills If you’ve searched online for digital nomad jobs, you might have come across long lists of ways to make thousands of dollars each month online.
There are many so-called digital nomads out there who are making a lot of money from telling other people what to do. You´ll find expensive courses scattered all over the web claiming that if you take that course, you´ll be making $$$ in under 6 months.
If you really want to
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What if I don`t know what I want to do? If you really don`t have a clue what your skills are, or how you`re going to make money online then you need to really think again about becoming a digital nomad.
Don`t get on that plane if you don`t know what skills you can use for an online job. It won`t suddenly become easier when you reach your destination. In fact, it will likely become much harder.
Why? Because there are going to be so many distractions around you.
Trying to do too much with all the people on social media publicly sharing how much money they are making from various different online jobs – it can become overwhelming.
Suddenly, you find yourself wanting to give everything a try. You want to keep your options open, you want to see what will work.
My advice to you: STOP! Slow down. Don´t become a Jack of all trades, and a master of none. What will happen if you try to do everything? Nothing.
Nothing will get done and you´ll have wasted your time. Just because someone is making good money doing something, it doesn´t mean you have to try and do it too. Stick to what you´re good at. If you´re building your skills, become an expert in that area and stick to it.
On your digital nomad journey, you´re going to come across many different people who will tell you that they are making huge amounts. Maybe they have an FBA store or a drop-shipping store.
You don`t need to do what everybody else is doing. Have you ever heard of Shiny Object Syndrome? This is what entrepreneurs define a tendency to chase something new. It can be a new business, skill, or goal – instead of focusing on what they are doing.
Remember, the most successful people only focused on one thing to start with. They became successful because they became an expert in that field. This is what you need to do.
Not having a plan Once you arrive in your digital nomad hotspot it´s all too easy to go into ´holiday mode´ especially if you´ve never lived in another country before.
If you aren´t already working online, it might be tempting to put that on hold for a few weeks while you get settled. The problem with that is, you can easily get too comfortable in that routine. How do you balance your work and social-life?
You´re trying to make new friends, so you´re going out and
If you don`t have a plan of how you`re going to manage your work, time and social life – especially if you haven`t done what I mentioned in the first two points, you´re going to fail.
Try to start working online before you arrive in your new digital nomad location. By doing so, you can get comfortable in your routine and start managing your time effectively.
It´s always a good idea to base yourself in a city or country for a few months so you have enough time to explore and do everything you want to do, while also being able to work.
Not having enough savings Not being able to manage your money is a sure way to lead you to failure. Before you know it, you´ll be on a one-way flight… back home!
Just because your chosen digital nomad destination has a cheap cost of living, it doesn´t mean you don´t have to manage your money carefully and responsibly. What is your budget?
Most digital nomads I have met, regardless of their income, always have a budget. The majority of people, don´t want to be spending all of their savings on maintaining the digital nomad lifestyle. Spending all your money isn’t what it is about. This is not a gap
What you´re aiming to do is, earn a living.
Don´t leave home unless you have enough money to
Don´t rush into your new lifestyle until you can afford it. Wait.
Many people think they´ll start making money right away. For the majority of people, it can take at least a couple of months to generate an income. If you´re planning on setting up your own business and you know that you won´t be earning money for a while, you need to make sure you have saved enough money before you move.
One of the benefits of moving to a country which is cheaper than your
If you´re struggling to save money, sell anything that you don’t need. If you’re going to be away from home for a long time, get rid of stuff you don´t want to take with you or which you don´t want anymore.
Now you`re aware of the common mistakes which digital nomads often make, you can prepare yourself better. Remember, no matter how prepared you are, there is always going to be an element of risk involved.
But, The biggest risk of all, is not taking any risk.
Do you know any other reasons why people have failed to become successful digital nomads? Or, are you an aspiring digital nomad who is afraid to risk failure? Let us know in the comments section!
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