It’s not easy having it all. Many people dream of spending the rest of their lives backpacking and living abroad, but it’s not always easy to make your travel dreams fit your budget. Fortunately, there are ways to travel on a tight budget. Moreover, being a business owner is a great way to secure your own income, make your own schedule, and do the kind of work you’ve always wanted to do.
However, what if you want both? What if you want to be a successful business owner AND travel the world? Most people assume that you have to choose one or the other, but this is actually not the case. In fact, there are several ways that you can start your own business and still find time (and money) to travel around the world!
Find a Way to Move Your Business Online
Some businesses require a physical location. For example, if you run a health clinic, you can’t exactly take your show on the road. For this reason, many brick-and-mortar business owners assume that they should just stay in one place for the rest of their lives. They invest in improvements, like backlit business signs or redesigned interiors to draw in more customers. However, this will not help you scratch your travel itch.
So, rather than just giving up on your travel dreams, look for ways to move your business online. If you offer in-person services or consultations, is there a way to pivot your business model so that it can work in the virtual sphere? If so, you can start to run your business from just about anywhere with an internet connection!
Build Passive Income
A lot of entrepreneurs and “digital nomads” who travel the world are able to do so because they have one or more passive income streams. Whether these funds come from your business, investments, or something else entirely, they can help ensure that you have the time and money to travel as much as you like.
One common business model and source of semi-passive income is a blog or artist channel. These are semi-passive income sources because you will need to create valuable content to draw in viewers or subscribers. You can then build an income by running ads or selling products to the people who visit your website, Youtube channel, or Spotify page (just to name a few examples). Over time, you’ll have to do far less work for the same amount of money — or hopefully much more!
Open a Seasonal Business
If you’re looking for business ideas that will still allow you to travel, consider running a seasonal business. For example, some shops are dedicated to selling products for specific holidays or seasons. You might have a shop that specializes in Christmas ornaments. Alternatively, you could run a party store that focuses on Halloween costumes. These businesses will attract a lot of customers during certain parts of the year. So, once you’re in the off-season, you’ll have plenty of time to pursue your travel dreams!