What is Location Independence?
The world is changing, technology now allows us to connect instantly with people from all over the globe and that allows us to start and grow businesses entirely online. What most people don’t realize is this allows us too create and run international businesses completely online from anywhere in the world.
No longer are we tied down to one location, forced to word every day in the same old office, in the same old location. You can hire assistants in India or the Philippines with MBA’s for pennies on the dollar. You can outsource product development and manufacturing to China and sell directly to customers in the USA all remotely from a laptop.
So why not live anywhere and travel the world?
There are certain moments in this life when something very special happens and I bet you have seen it. The times after a breakup, after leaving a job, right after college or high school where, just for a brief moment, the veil of the average life, of normalcy is torn and you can see it. Your almost close enough to grasp it.
A life of adventure. A life of passion. A life where anything is possible, traveling the world, living your passions and doing everything you have always dreamed of. Bull fighting in Spain, eating gelato in Rome, diving the great barrier reef, learning to surf in Bali, every dream you have ever had and yearned for all within your grasp.
Just for a second you think about it, consider it, roll it around in your head lustfully imagining a world without limitations or boundaries. But slowly “reality” sets in, you need to find a job. Security and a steady pay check is how your supposed to live your life. Slowly the tear in the veil closes and you move on with your life, living it the way you have always been told to, and how everyone else does.
But there are some who don’t slip back into an average life, there are some who dive through that tear, that take the red pill and see just how far down the rabbit hole they can go. These unique and nonconforming entrepreneurs are called Digital Nomads.
Digital Nomads are entrepreneurs who have leveraged the power of the internet and social media to create online businesses that they can run from anywhere on the planet. These nomadic entrepreneurs use iPhones, laptops, wifi and some web based programs that allow them to work from anywhere they like; whether it is from home, their local coffee shop or even a tropical beach in Thailand.
They are able to do this through the power of geo-arbitrage. Geo-arbitrage is the practice of leveraging earnings in one currency while living in a country that has a favorable exchange rate.
Confused? Let me give you an example from my own experience.
For the last 3 months I have been living in the southern islands of Thailand. At the same time I am running several online business that earn money in US Dollars. Because I am living in Thailand my living expenses are paid in Baht (Thai currency) which has a very favorable exchange rate against US dollars.
Put simply, I am able to live on around $1,500 US a month here in Thailand, where the same lifestyle in the US would cost closer to $8,000 a month. Because I am earning money in US dollars and my living expenses are in Thai Baht I am able to live an extraordinary lifestyle while saving thousands every single month.
As Tim Ferriss, the author of 4 Hour Work Week said:
Fun things happen when you earn dollars, live on pesos, and compensate in rupees.
~ Timothy Ferriss Quotes from The 4-Hour Workweek
So what are you waiting for? Are you ready start your own path to become a Digital Nomad? Does the life of location independence sound like a dream come true?
Take a look at my Case Study and learn exactly how I built my own location independent business and start building yours!