Become a Location Independentpreneur: Building an Online Business to Fund Your Travels

The allure of remote work and the freedom to travel the world while earning a living is a powerful motivator. Building an online business can turn that dream into reality. But before diving in, it's essential to weigh the pros and cons of this approach.

Our family saved (not that much) and planned to live off our savings while we attempted to make an income with an online business.

Spoiler alert: Our plan didn't go to plan!!

We'd planned to build a travel blog business - but thanks to setting off in February 2020, we put that plan on the back burner. Some of the most well-known travel bloggers in the world watched their online incomes reduce almost overnight. It wasn't the right time to be starting to earn online. For us anyway. We only had a limited time frame, and we couldn't wait with hopes that the travel blogging industry would bounce back in time before our tiny savings account ran out.

We had a backup plan in place. High-ticket affiliate marketing. I have a post coming on that soon. This is commonly marketed as a freedom lifestyle business. I bought into the hype thinking I'd be one of the overnight success (back in 2018 - two years before we left) and I wasn't. I gave it a very good crack. I was waking up at 4:30am most days, writing, journaling, running ads, doing the inner work, yet it didn't translate to sales.

When we realized our blog wasn't going to work in 2020, I attempted to sell my high-ticket offer again, but I think at that point I probably had lost my belief in it (yes, I'm embarrassed to say I was one of those corny people writing cute copy about how high-ticket affiliate marketing was going to set us free).

Here's a bit of what we have learned about building an online business 👇

Pros of Building an Online Business for Travel Funding:

🦋 Location Independence: An online business allows you to work from anywhere with an internet connection. This frees you from the constraints of a traditional office job and allows you to travel the world while managing your business.

🦋 Scalability: Online businesses have the potential for significant growth. With the right strategies, you can reach a global audience and scale your income without geographical limitations.

🦋 Passive Income Potential: Some online business models can generate passive income streams, meaning you can earn money even while you travel or explore new destinations with minimal time investment.

Cons (more like lows) of Building an Online Business for Travel Funding:

💡 Time Commitment: Building a successful online business takes time and effort. Don't expect overnight success. Be prepared to put in the hard work upfront to establish your brand and attract customers. Despite some people pretending like it's a walk in the park, it's not. Be prepared for inconsistency and ups and downs while you're building. There might be great months, but there also may be times when you don't have any income.

💡 Self-Discipline: Without a physical workplace or boss overseeing you, self-discipline is crucial. You'll need to manage your time effectively and stay motivated to reach your goals. This means it's likely you're going to have to drag your ass out of bed earlier than the rest of your family (if you're travelling as a family) to get shit done. But on a better note, once you're generating income, you can often hire a VA to support you while you continue to build.

💡 Technical Skills: Depending on your chosen business model, you may need to develop some basic technical skills, such as website management, online marketing, or content creation.

Skills Required for a Successful Online Business:

While the specific skills needed will vary depending on your chosen online business model, some core skills are essential for success:

✨Digital Marketing: Understanding how to market your business online is crucial. This includes skills like search engine optimization (SEO), social media marketing, and email marketing. You can find a great course to learn more about digital marketing and tips for starting your first online business with digital products at one of my favourite start-ups - Time Wealthy.

✨Content Creation: Many online businesses rely on high-quality content to attract and engage customers. Being able to create informative, engaging content (written, visual, or audio) is a valuable asset.

✨Customer Service: Excellent customer service is essential for building trust and loyalty with your audience.

Thankfully, there are some great courses out there, many free. For some entry-level suggestions that I've tried, you can consider the following:

📚 Google course on Digital Marketing (free via Coursera)

📚 HubSpot Certifications (free)

📚 LinkedIn Learning - Master Digital Marketing (you'll need the paid LinkedIn subscription to access, but you can get one month free from LinkedIn)

📚 SystemeIO Academy ($97 USD one-off cost with Master Resell Rights - so you can resell this course for a profit if you choose)

📚 The Roadmap teaches you the skills you need to set up your own online business from scratch ($497 USD one-off cost with Master Resell Rights - so you can resell this course for a profit if you choose)

Building an online business can be a fulfilling and rewarding journey that allows you to fund your travel aspirations. By carefully considering the pros and cons, developing the necessary skills, and creating a solid plan, you can turn your dream of travel-fueled living into a reality!