digitalnomadsasia

When the fun ends…

When the Fun ends and Work begins..

1. Business Idea – Check
2. Fancy name and logo – Check
3. Desirable mix of misfits – Check
4. Website and social media pages created – Check

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Now that we have all the fun things off our list of things-to-do, let’s get to the part that most of us fret. The actual running of the business.

Let’s face it, this is the tough part. This is the part that none of us startup founders have any control over. So now what? You are standing at the door of the plane with the knowledge you think you have to build a parachute and out the plane you go!

Being a founder/ CEO is tough work. The path is usually long, dark and lonely- littered with pitfalls, unknowns, highs and lows and occasionally puppies (at least in my case). I pen this article to you as an individual and not someone who is promoting a brand, service or business. If you are already on the plane without a parachute, you might understand some of the things I am sharing here. But if you are sitting on the runway waiting to take flight, this article may help you to decide if you should get on the plane.

Here you go;

1. A startup is a business!

This is numero uno in everything you do! It’s not a pet project, a hobby, favor, excuse or anything else you think it is. You have to respect your startup as a business entity. A business needs to pay its bills. To pay its bills it needs to make money. It’s very similar to being employed – It’s a trade of your hours in an office for a stipend every month. The difference in running your own startup is that you are your own income potential. We often get trapped in the ‘bigger picture’ that we forsake the day to day running of the business. I call this the ‘founders syndrome’. In short, a founder that has his eyes on the ‘flip’ usually flops!

2. Prepare to be broke

No really, this isn’t funny at all. Unless you have an inheritance, trust fund or some serious backer with you, be prepared to go broke. Be prepared to utilize your savings, credit cards and every line of credit you have! This will be the toughest part of the startup journey. 99% of startups fail because of cash flow issues. Manage your funds well. Being broke in the startup phase is normal but if it becomes a recurring issue maybe it’s time to get off the boat.

3. Talent

Never hire family, friends or anyone for compassionate reasons. Talent acquisition is crucial for any startup. Hire right. You initial hires will define your company culture. Office culture runs your business! Never ever substitute culture for hires.

4. Believe in your Mission

As a startup founder, it’s easy to get distracted. Believe in your mission and your goals. Ensure that all you do, plan and execute is in alignment with your mission. No one else decides where and how the business is going except for you. I cannot stress this enough! You have to believe in your purpose to impact change in the industry that you are in. Stay steadfast but not stubborn. Remember the story about the elephant and the 5 men?

5. Persevere

Things won’t always work out the way it’s supposed to. Patience and perseverance is key to sustainability. Keep going! The will to succeed is greater than anything imaginable. As Steve Jobs once said, “ The only thing that defines a successful entrepreneur from the rest is pure perseverance.”

To conclude, not all of us will make it to our desired destination. The journey though will teach us things we never knew or thought were even remotely plausible. The road will be tough, painful at times, but yet we hold hope that we will make it, and it is in this hope that we share that I will continue to share my experience in this journey we call entrepreneurship, so that hopefully we grow as a community and not as individuals.

RV

 

Digital ‘Nomading’ ? – Think Bali!

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The Digital Nomads journey is not often filled with pina coladas and beautiful sunsets in scenic locations around the world. Not many of us witness the daily struggles a digital nomad goes through.

Let me start by sharing my experience with the rest of you as I embark on this journey. Let me kid you not, this journey looked rather intimidating when I chose Bali, but I have not looked back since.

Moving to beautiful Bali is a dream. For many that’s all that it is nothing more. However for the rare breed of us who dared to take the leap of faith, Bali is truly an amazing place where the line between work and play is drawn in the sand. (No pun intended)

Bali is truly beautiful. It’s by far one of the prettiest places that I have been afforded the chance to live in. From the beautiful mountains, perfectly aligned padifields right up to the picturesque view of the many mountains that conveniently fall into many a backgrounds of snapshots taken by tourists and travelers.

Here’s why I think Bali should be on every digital nomads travel plans!

1. Network

One of the key takeaways from Bali as a Digital Nomad is the opportunity to network with fellow like minded digital nomads too! Almost 50% of the people I met are in the digital arena as well. This can at times seem daunting but the potential of collaboration is truly unique compared to many other cities in South East Asia. I have also noticed that digital nomads in Bali are slightly more open to discussing  their ideas and projects compared to many othe cities. It must be the island vibe.

2. Co- Working Facilities

Having lived here for almost 2 years, I have to say, Bali has treated me very kind with the work life balance that I crave. There are multitude of Co-Working spaces in Bali and they numbers are growing! When I first came out to Bali, there were 2 notable ones! Today there are at 7 prominent ones and the pick up rates for these facilities are booming!

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Credits : HuBud Bali

3. Infrastructure

Infrastructure is also rapidly improving. What you used to be the bane for most of us a couple of years ago – Internet Connectivity and Speed -is no longer an issue. Fiber optic internet connection has entered Bali and even mobile data plans come with 4G options today. Laptop and phone repair shops are located at almost every turn.

4. Cost of Living

Les face it not many of us are raking in the amount of money that top IT company execs are. With the modest cost of living in Bali, it’s a highly attractive place for us nomads to live a comfortable life without have to penny pinch.

5. Society

When I mentioned earlier about the beauty of Bali, I meant it in every sense of the word. The local Balinese people are the most loving and warmest people you will find. Always ready to help if needed. As a digital nomad, it’s also imperative that we respect the rules and customs of this beautiful island. The local Balineses are traditionally Hindus. The beauty of observing some of the ceremonies and visiting the temples on the island is truly breathtaking. At the same time, never forget that you “get what you give.”

UPACARA MELASTI DI PANTAI JIMBARAN

UPACARA MELASTI DI PANTAI JIMBARAN

 

To conclude, Bali is truly a sight for not just your senses but also to build that business, work on a long overdue project or even just conjuring ideas for your next startup. I have many friends who have grown successful startups from Bali. Some are highly successful corporations today and others are comfortable running their small business.

So when you think of your next pit stop – think Bali! I think the beach is calling! Later.

 

Rukesh

Chief Nomad