Their are several different methods of funding your travels or life overseas. You can make money through Internet marketing methods. You can become a service provider (like a graphic designer) and conduct your business online. You can also start a business that capitalizes on the fact that you are living overseas (like being involved in import/export or being a travel photographer).
And unlike your western counterparts you won’t have to make 20 or 30K a year just to cover your living expenses. Like I have mentioned before, making a thousand dollars a month can fund your expenses overseas, and everything after that is money in your pocket. Or you can build an Expat Empire and drive a Bentley, it’s up to you.
The 6 Most Common Ways to Make Money Overseas are:
Business Basics
Before we get to the list if you plan on starting any business or venture you have to learn the basics. The mechanics of starting your own business involves allot of back end work like licensing, incorporation, accounting, writing a business plan, credit and corporate bank accounts. Many people overlook these important steps, but if you are going to be a businessperson then you will have to have (or at a minimum know about) these basic business skills.
Internet Marketing
There are dozens, if not hundreds, of ways to run a business online. One of the most popular ways is to implement one of several Internet marketing business plans. Internet marketing is a method of making money on the Internet by advertising and selling and reselling products or services. You use websites, e-mail and other online venues to let people know about the products or services that you are promoting.
It’s kind of a stuffy definition, but it’s broad on purpose. That’s because there are many different ways to make money though Internet marketing. There are so many ways that it’s hard to give a definition that covers them all. Many of the money making plans that I’ll show you fall under the category of Internet marketing.
Internet marketing is perfect for the Expat Rock Star lifestyle. First of all, it doesn’t require that you work from one base location. As long as you’ve got your laptop and Internet connection, you can be anywhere in the world.
Secondly, there are several different types of Internet marketing business models that are “set it and forget it.” You can create multiple streams of income that make money for you, hands off, while you travel or just chill out on a beach in South America. Through automatic delivery and automatic payment processing you could be making a full time income while you enjoy seeing all the sights the world has to offer.
By doing a little bit of prep work you can set up automatic streams of income that will fuel your traveling and give you the freedom to travel. Internet marketing is a mixed bag of different ways to make money online. Most IM’ers have several different streams of income.
Streams of income may include having your own website, where you sell a variety of things. These can range from “info-products” (like the one you’re reading right now) to Blogs, but may also include physical products.
Service Provider
If you are a writer, graphic designer, web programmer or have creative skills you may already have the perfect mobile business.
When you operate a service based business, you are able to set your own schedule and create your own terms. Your service can be done from your laptop. Your computer and an Internet connection will be all that you need to make money for your traveling expenses.
There are tons of freelance service websites online that can put you in touch with customers for free, or a small free. You can accept payment via Paypal, an online payment processor.
All you need to do in order to get stared as an online service provider is a skill (like writing, graphic design or web design), a website to act as your portfolio, an e-mail address and a way to accept payment.
Leveraging Your International Status
There are many business models that will allow you to take advantage of the fact that you are traveling or living overseas.
You can do everything from flipping real estate, investing in the local stock market, tourism, outsourcing to local talent and hundreds of other things. You can also open or buy a brick and mortar business in a country that you like, it’s tricky, but many people go this route.
You can make you allot of money by simply being overseas, learning how to tune into opportunities and following up on them.
Personal Portable Skills
Most Personal Portable Skills fall into the “natural talent” or “50% of people can learn this skill if they try really hard” category. Things like being able to sing or play a musical instrument generally fall into the “natural talent” category; I really don talk about these skills very much because they (more or less) can not be taught or learned to the point that someone would pay you to do it.
Skills that fall into the “50% of people can learn this skill if they try really hard” category are things like day trading, playing poker, investing in real estate in your home country and teaching certain types of specialized skills.
Independent Businessman
There are lots of opportunities to make money overseas for savvy expats. If you know how to hustle, draw up a contract, are good with people and you have a few bucks on your pocket then you can create your own opportunities.
Independent Expat Businessmen do everything from managing bands and celebrities, act as the middlemen on international contracts, consult with foreign companies and just about everything in-between. The Independent Expat Businessmen is basically the Expat Hustler on a higher level and nicer clothing.
Working Overseas
There are lots of businesses in all parts of the world that seek out and hire people from different countries. There are jobs in every type of industry and skill, some of the most popular overseas jobs are in Defense Contracting, Humanitarian Aid, English Teaching, Finance and Tourism. Expat Rockstar Jobs is a good place to check out what types of international jobs are out there.
Working for a company overseas means that you won’t have to worry about trying to start your own business or work in any of the other methods I’ve described so far. You’ll just have a standard job like one you’d have back home, but you’ll have the benefit of being able to live in a new country, work tax-free and the time to start your own portable business.
The only downside is, it will be just like the job you had back home. That means that you won’t be as free to keep traveling, and you’ll have set work hours. But it’s a great way to get yourself overseas. Since the cost of living in many foreign countries is a lot lower than other places, you can get a full time job and then work on your side business until it becomes your full time business. Then you’ll really be able to live the Expat Rock Star lifestyle.
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James,
You have some good material here…strange how many people are not willing to prepare for success. I have had to work years at my currency trading skill to get to the point where I could reliably make money with it, with one motivation-
to have that “job in a box” to carry with me anywhere I choose.
Nate