Pros & Cons of being a digital nomad entrepreneur

Digital nomad entrepreneur

The term “digital nomad” is gaining its popularity on a daily basis and is becoming a fast-growing lifestyle. However, the term is still confusing, like what is digital nomad? Is it a job or a lifestyle? Is nomading constant traveling? Is it the same as remote working? What do digital nomads do for a living? To those who are willing to change their working style, especially during pandemic, this is the article for you to read.

Main Categories of Digital Nomads

Although digital nomads all work online and travel almost most times of the year, their field of work varies. However, it can be divided into three main categories:

1. Freelancer

The freelancers do remote work for one or several clients. These jobs might include fields like web design, content writing or social media management. The freelancer nomads can work from around the world as long as they have a deal with the client on not physically being in the office. The freelance jobs can be found on specific platforms like Upwork or Fiverr.

2. Corporate Remote Worker

Today, most of the world works remotely under the pressure of pandemic. However, this kind of employment has been legit before the virus breakout. Remote employee is working from home office. This kind of job provides a stable and secure income with the flexibility of choosing a working place. The difference between freelancing and corporate remote workers is that the latest have formal or semi-formal agreement of employment agreement which guarantees the steadiness of the relationship.

3. Entrepreneur

Some digital nomads start their own startup company and do all of their business using online platforms. One of the examples is our company Others make a living with online trading etc. Only a little part manages to make money with the nomadic lifestyle itself, e.g. blogging or photographing.

How Do You Become a Digital Nomad? 

There is no unique prescription or ultimate guide on how to become a digital nomad. It is about you determining your skills, goals in life, budget and expectations. However, the experienced nomads suggest things to consider before jumping into the idea of taking your laptop and start traveling.

1.Determine If It’s a Good Catch For You

As attractive working while traveling seems, maintaining a career and constantly moving around is not for everyone. You have to realize that you might be gone from your family and loving ones and be on your own for a while.Living light is the fundamental idea of being a digital nomad. So think about your passions before diving into the lifestyle.

2.Work On Online Working Skills

Without excellent skills in online working, your chances of living as a digital nomad decreases. So before you set off, make sure you have all the relevant skills. You might get a remote job at your local job market first or even work online along with your ordinary office job. This will help you to develop skills you need to become an independent digital nomad.

3.Make Sure You Have Reliable Income for Months in advance

Having a safety net is very important anytime, but especially when you are going to move to a different country. Emergencies seem harder when you are all on your own as a digital nomad without your family to give you a hand whenever needed. To enlarge your savings, sell all the unnecessary belongings before traveling, like a car, rent your house to make sure you have extra income while you’re away. Cancel unessential memberships etc. 

4. Find a Remote Job or Move Your Business Online

Before becoming a digital nomad, you should decide which route you are gonna choose for the beginning: having a remote job or running your business online. There are many solutions that will help you to monitor and run your business from around the globe without physical presence. 

5.Figure Out Your Budget

Assessing your budget will be essential on the way to becoming a digital nomad. It is crucial to determine your expenses and decide on your lifestyle – How much will you budget for accommodation? What kind of food or transportation services will you choose?

Think about your predictive income and the expenses being a digital nomad will bring to your budget.

6.Prepare Your Devices 

If you travel internationally, you might need to unlock your phone to be able to use any cell carrier in the world. 

Meanwhile, make sure you have a proper computer device you are going to use for your job.

7. Get Travel Insurance

Before you leave, make sure you have health insurance as the medical services might be unavailable or cost of the certain services might be much more expensive for foreigners. Insurance will save you money and energy at the times of health emergencies.

Common Jobs for Digital Nomads

Most of the employers in many fields are now emerging with the amount of digital employees. The reality shows that most of the professions can be adapted to online working.

Once you have evaluated your working skills, you can join the gig economy by marketing and selling your services, or finding a job on a freelance service marketplace.

The main requirement for the job to be relevant is that it has to be done digitally. Here are the most common jobs fully adapted by the digital nomads: 

  • Accounting
  • Design (Graphic design included)
  • Editing
  • Healthcare
  • IT
  • Marketing
  • Quality Analyst (QA)
  • Recruiting & HR
  • Sales
  • Teacher/Tutor
  • Virtual Assistant
  • Content Writing
  • Transcription
  • Customer Service
  • Project Management
  • Software Development

Benefits of Being a Digital Nomad

1. Work Wherever And Whenever You Want

Being a digital nomad gives you a luxury to choose your own working place or hours. Here your life and goals come first and the choices you make. You should determine how valuable your time and comfortability is and work whenever and wherever you feel regarding your responsibilities. All of this gives you a less stressful working environment and raisers your productivity.

2. Ability to Have a Good Quality of Life for Fewer Expenses

One of the best things about being a digital nomad is that you don’t have to have a big capital to start off. Digital nomads have an opportunity to choose their destination. Most of the nomads seek a place to stay somewhere in South East Asia or Eastern Europe. Because one can enjoy a great quality of life for around $1000 a month. You’ll have to work much harder and meet the bureaucracy to achieve the same quality of life in western countries. Georgia is considered as one of the best destinations for that purpose.

3. The Ability To Travel the Globe — being a location independent

This is one of the biggest advantages of being a digital nomad. Once you have no bounds to the country and have found your way of staying productive, you can take off and travel whenever you want without waiting for your boss to give you a vacation as long as your budget and workload gives you a possibility.

4. Simplified and Diverse Lifestyle

Traveling to new countries means being limited in what you can put in your luggage. Many digital nomads sell their houses and many of their belongings in order to live a more simplified life and travel easily. The weight of everyday belongings stays behind.

Being a digital nomad gives you an opportunity to meet new people on a daily basis, get closer to foreign cultures and explore the country you are relocating to.

5. Personal & Professional Growth

Many digital nomads agree that their time in being a nomad has given them opportunity for their personal and professional growth.

On the professional side, you have all the possibilities to think of your development, choose online courses etc. Work process gives you directions where you need improvements and you have access to it.

On the other side, being an independent in every aspect (economically, personally) challenges your viewpoints, your attitudes and values. 

Cons of Being a Digital Nomad

1.Internet Connection Problems

One of the biggest disadvantages of being a digital nomad might be the fact that you are in 100% need of good internet access. Internet problems might cause you some damages. As the hotspots and cafe Wifi connections might not always be the most reliable, have to pay extra money to make sure you have backups and a “plan B” for the times you can’t connect to the internet and get your work done.

2. Loneliness

Most of the nomads claim that loneliness plays a role from time to time in their lives. Digital nomadic workers often find themselves grappling with social isolation and lack of permanent relations. If having strong social strings attached is your essential, you should definitely consider this aspect and think of the solutions. Feel free to join the digital nomad community at your destination

3.Can’t Go Too Remote

Have you seen the advertisements showing digital nomads just chilling under the sun on the beach with their laptops on their lap? Well, that is not actually how it works. First, any risk that demolishes your laptop is damage to your pocket, so beach is not the first choice to work for the nomads and second, you can’t go too remote. You always have to make sure you have access to a good quality internet.

4.Adapting to the Country and Locals

Wherever you are staying, you need to adapt to the local reality. It is very hard to communicate when you don’t speak the local language and you are at a risk of everyday frauds. It is very important to be around a hospital and friendly environment. Good relationships with local people may be very helpful for the remote worker. For further details, read our article on living in Tbilisi, Georgia as a digital nomad. Sometimes, it’s difficult to adapt or communicate with different people for a different cultural background and traditions.

Conclusion

We do hope that this article has helped you form a better view on possibilities of becoming a digital nomad. Living as a digital nomad might be an adventurous life decision, you need to plan the starting off process very carefully. Modern world is changing dynamically and you need to determine your needs, passions and take action with your life. As the digital nomad lifestyle is not an easy road, you might need professional assistance from experienced nomads. In case of that, do not hesitate to contact our team.

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