Jul 05

Selling Domain Names

Domain Name selling or flipping can be a very lucrative business model IF you know what you are doing.
Do you auction it off, offer it for sale, set up a website on it… there are tons of questions and options.

Choosing Domain Name

By: Ross Crispin |
If you just decided to have your business website or corporate website published on the web, you might be wondering on what kind of domain name you want to use. Choosing the right domain name will actually help your business website or corporate website to gain traffic; in this case, we all know traffic means sales. However, choosing domain name might not be as easy as it sounds. When choosing a domain name for business website or corporate website, there are many considerations to be taken into account. Factors that may affect your decision on choosing the right domain name may include branding, trademarks, and keywords.

After all the trouble of publishing your websites, you dont want to name your domain such as we-sell-tire.com when you are in the business of selling rims. To obtain a good result, domain name for business website or corporate website should not be misleading. If you deal in vitamin business, then by all means find a domain name that has vitamin in it if you can. This will make it easier for your websites to be found when a potential customer is searching using search engine using specific keywords.

The second thing to consider is to try to stick with a .com. The reason for this is because .com is the most widely accepted extension for domain name. If your website is a business website, it is far more important for you to use a .com for your domain extension name. The .com has been here for so long that virtually just adding a .com to your website will get you the extra credibility that no other extension could provide. It is however true that there are few other successful domain name such as .net or .org. But would you want to risk having to change your extension and possibly have your customers forget about your website cause for some reason the domain name they remembered is not in operation anymore.

Branding is the next thing you want to consider about. 15 years ago, no one knows what Google is. But now this domain name is probably one of the most recognize brand name and is worth a whole lot of money. However there is no immediate gain from making a brand able domain name as this is more of a long term situation; Even though it is to be noted that having a brand able domain name will certainly help the website in question.

Lastly, never consider to use hyphens for your domain name. This is because people may easily remember the name of domain but they might after a time forget about the hyphens. Just by forgetting one hyphen, your potential customer may find themselves on other websites that may be selling the same stuff as you do. Or worse, they might find that the website they intended to look for is not there and may jump into the conclusion that the website is down and hence they need to go to your competitor website.

http://www.InternetWarriorVideo.com Sell domain names for profit like Mike Zappy Zapolin. This video features Victor O, owner of Yoga . com, who praises Zapp…


DotAsia to release one and two-character domain names
World Trademark Review (subscription)
In August 2011 DotAsia, the registry for '.asia' domain names, submitted a proposal to ICANN for the release of one and two-character domain names which were previously reserved by the registry. On February 29 2012 ICANN approved DotAsia's proposed ...


Marchex subsidiary Archeo Launches Domains Marketplace [Press Release]
Domain Name News
SEATTLE – September 10, 2013 – Archeo, Inc., a division of Marchex, Inc. (NASDAQ: MCHX), today announced the launch of the Archeo Domains Marketplace (www.archeodomains.com), providing direct access for businesses, brokers and individuals to ...


Epik files patent covering domain leasing and virtual currencies for domain names
Domain Name Wire
Patent application describes a virtual currency that may offer tax benefits and ways to improve domain name leasing. Epik founder Rob Monster and SVP John Lawler have filed a patent application titled “System and Method for Domain Leasing, Acquisition ...

and more »

UK gov't wants to ban dirty words in UK domain names; tell them to #£@* off
Boing Boing
Tony sez, "The UK Department for Culture, Media & Sport is supporting a review of the .uk domain name registration process, suggesting that restricting offensive words in .uk domain names will help to prevent abusive behaviour on the internet. Nominet ...
Offensive Words In .UK Domain Names To Be Reviewed By NominetHuffington Post UK
Nominet Opens Comment Period On Whether .UK Domains Should Contain ...TheDomains.com
Should Nominet ban .uk domains that use paedo and crim-friendly words?Register

all 4 news articles »

Hilco Streambank selling DL.com, Row.com, and over 2000 Foreclosure domain ...
Domain Name Wire
Intellectual Property sales company Hilco Streambank is holding two more domain name sales that might interest domain investors. The company will hold an auction October 14-17 that includes a handful of high value domain names including the two letter ...


[Table] IAmA: I'm a digital nomad who quit his job one year ago and has been travelling the world ever since. I now earn some money online and just live off that. AMA!

Tue, 25 Jun 2013 02:40:47 -0700

Verified? (This bot cannot verify AMAs just yet)

Date: 2013-06-24

Link to submission (Has self-text)

Questions Answers
Do you have any advice as to where to get started? Planning on quitting my job this week and couldn't ask for anything more than to work from the comfort of home. I have always wanted to work online and never really had any guidance. You are me 18 months ago. What i learned is that you have to be careful where you get your information from. There are many people out there who try and sell information about earning money online and setting your own business. Although they may know a thing or two, really it is you who are making them rich by purchasing their ebook or whatever it is they are selling. There is enough information available for free. The first thing i did was save up. Sounds boring, no? But I did, for 6 months. I assumed I would fail and made sure I had some money when I came crashing down. I quit my job (i was working in Sydney at the time) and set off for the cheapest country that I knew about - Thailand. This gave me up to eight months to play with. I knew I that if I didn't earn a penny and completely failed, I could always go back to my home country - England and look for a job. That was the worst case scenario. It turned out there were lots of people doing the same in Thailand and I quickly found people who knew more than me. You'd be surprised how much you can find out by just asking people who know more about specific things. Most people don't try and hide the answer, they will just help you. Having so much free time gave me the opportunity to learn what I really wanted in life and I figured out that I enjoy creating websites and more specifically, I enjoy designing. I would have never realised this if I had stayed in a full time job that didn't impress me. So when you have quit your job, try not to stress about money so much. just put yourself on a tight budget so you give yourself as much time as you need. Then start trying out things that you enjoy doing and try and work out a plan in how you can earn money from doing this. Ideally something online so you can live anywhere, but even if it is nothing web related - You can learn skills and then teach people for money. There will be something you enjoy doing or are naturally talented at. Likewise, there will be somebody in the world who would pay money to be able to do what you do. The internet helps you find these people! Good luck!
Since you do web/design, how do you manage to garner new clients while being mobile? Are most of your clients small, keeping you busy with many smaller jobs, or are you able to reel in some bigger clients? What would you say differs from you gathering clients now vs a regular job? Have you heard of Envato? I don't like working for clients as there is always time restrictions and I don't like designing for somebody else's tastes. I only design for myself. I am in the middle of creating some mobile responsive designs for wordpress. I am creating them in full and then selling the finished result. This works better for me as I only have to do the work once and a number of people can buy the product. It also means that I can design until I am happy.. not trying to please somebody else. I have heard of envato for the wordpress themes.. This is what I am creating but specifically for the Genesis framework, if you recognise the name.
So did you have any experience in this area before i.e. web design, marketing? I would love to do this type of the but I don't have the time to go to back to school for graphic designing or something like that. I had no experience at all. My friend knew how to make websites on wordpress and I learned everything from looking it up. I don't think you need to go to school. It is not a qualification you need, it is just the information to be able to do it. This is free and there are hundreds of places online which can teach you about wordpress, css3 and html5. This is really all you need. It is more about what you do with the knowledge as opposed to how much you know. eg you can teach somebody to paint but it doesn't make them a great painter.
How is Thailand?? I want to go there for a while, everyone keeps saying how great it is. Also forget about the haters, your living the dream! I'm really looking forward to going to the Philippines actually. I have heard that is kind of the new Thailand in a way, it has beautiful beaches but not as many people go there so you get much more freedom. I think tourists still have the idea that it is dangerous just because of one or two cities there, but there are 1000s of islands to explore. Maybe something for you to think about for the future also. The most expensive part of trips to either of these countries is the flights, depending on where you're coming from. Once you are there, you will spend very little. So it makes sense to go for longer as it will bring your 'cost per day' down.
You mentioned in another comment you run web stores. Did you design the store sites yourself? I'm beginning work on designing a site for one of our new companies, and I've designed for a store site before, but only image mockups and never working code. Do you sell any templates or wordpress themes for stores? Something with some flexibility so I can customize it to my own design and our company's image? Hi, I am working on that very thing now. I am waiting for wordpress 3.6 to be released and then I should be releasing a couple of wordpress themes which are designed to be ecommerce themes. I am currently playing around with some new ideas regarding minimising the page loading times and utilising the use of icon fonts where I can. I don't know when these would be finished though. I like to work on them when I feel inspired to do so. (this is why I could never work for clients haha, they would fire me for being too slow)
Where have you travelled to? Favorite country/area? In the last year i have been to Australia (the last place i worked), Japan, Thailand, Laos, Malaysia, Spain, India, Germany and am now travelling through Turkey. I like to spend at least a month in each place so you really get to know a place as opposed to staying for one week as you would if you were on a holiday. My favourite place has to be Chiang Mai in Thailand. It is so cheap and there is so much to do and see. The people are so nice and the food tastes absolutely amazing. There are lots of digital nomads who spend time there so there are always cool, open minded people to see and go adventuring with.
You're in Turkey? Seen any teargas-covered cities lately? What's it like over there right now? We haven't been in Istanbul yet, I am flying there on Wednesday. I am currently in Fethiye and was in Antalya for the last few weeks. There were protests in Antalya while I was there but it never got too violent. More like a coming together of people with drinks and lots of shouting. The police always stood back and did nothing. unlike istanbul obviously!
What were you doing originally? What was the final straw? I was working for American Express in Sydney. (Yes, really a credit card company). It was like working for the devil. I knew every new customer was somebody possibly going into debt and possibly ruining their lives. It didn't take much to leave to be honest. I just needed to stay long enough so I could save up.
How much money do you make? Is it sufficient for your lifestyle? It took me about 4 months to get to a stage where I wasn't spending any money. My income was equal to the spending but I was living in quite affordable countries. Since then the income has increased each month as I start more projects. The good thing about starting internet businesses is that every month I am not working to support myself for that month (like you would if you were working for somebody else), every month I am working towards increasing my monthly income. If I did nothing, my income would remain the same. Perhaps if I did nothing for long enough, it would eventually start to drop. But yes, it is sufficient for my lifestyle and as time goes on I am able to do more. i am not greedy though. I really don't want some large business that would take up all my time for the sake of making more money. I am only working to create the freedom for myself. I am much more interested in exploring places and I want to start doing volunteer work soon, which I should have plenty spare time for.
So how do you ensure that business is continually flowing in? Do you diversify across multiple types of work? What does your pipeline look like? are we talking multiple concurrent small things or fewer larger things or both? I don't do any work for clients so there isn't really 'business to flow in'. My current income comes from affiliate sales, advertising networks and I am now in the process of creating wordpress themes and other design based digital products. I have only really been creating websites which would need very little maintenance once they were developed and designed, thus giving me time to start new projects. I know a few people who have success in freelancing and do not have to put too much time into finding clients, but i don't like the idea of business being able to dry up in the future. I think creating quality products/websites which will ensure a steady income over time is the better way to approach it. I get bored quite easily and like the freedom to start new projects and businesses while knowing the old ones are running fine.
That sounds pretty flipping awesome man. Good luck, keep living the life! I see you've already talked about your favorite places, how about any places where you DEFINITELY will never go back too? Any times where your life was in danger, or at least supremely inconvenienced? We were not too fond of Laos. It was like Thailand but the food was less tasty, more expensive and there was a rooster outside almost every accommodation we slept at, meaning we were tired the entire time. Not a danger, but very inconvenienced 🙂
India was great but it was here that we had a couple of encounters with people trying to scam us. One taxi driver would not let us have our luggage unless we tipped him. He kept repeating that we would be robbed in our hotel if we did not tip him. We managed to steal our bags back and then run into the crowd so he could not follow us. This was an airport taxi as well. This was not enough to put me off the country though, there are bad people all over!
Assuming you carry a laptop with you - what brand/model are you using and why? Thanks much, would love to read your blog. PM if you're cool with it. Travel safe! I do carry a laptop, actually we have two. Both the same, Macbook Pros mid 2010 version. Mac because I have been with them for a while and cannot stand windows anymore. I am sure there are powerful enough alternatives though which would cost less.
How does one manage to stay in a country legally longer than 30 days, or the number of day stated on the visa? The only country which I stayed for longer than 30 days was Thailand. I had a 90 day visa. You can stay longer than 90 days also. You just go on a 'visa run'. This is where you get on a night bus and they take you to the border to get your visa stamped and then you drive back. I saw people in Thailand who have been there for about 5 years and are just updating their tourists visa over and over. Perfectly legal to do this.
How do you stop your laptops from getting stolen? When I am moving, my laptop is in my bag which is a 'crumpler local indentity bag'. They are not being made anymore which is a shame because it is waterproof and pretty much thief proof as the zips go in on themselves, the laptop sneaks into a bag pocket also it looks nothing like a laptop bag so people wouldn't even want to sneak inside.. its the small bag in this photo.. Link to nomadspirit.net
Also, do you rely on free wifi or have a 3G dongle? This bag never goes too far from my site. Also, I always stay in places with decent security so there is no risk there. I always rent places with internet included so I can work from my accommodation. Otherwise free wifi in cafes and public areas can make great working spots if I need more inspiration or am bored looking at the same room for more than 2 hours!
It's what all the cool kids are doing. Link to travel.cnn.com. How did you get started? It does seem to be getting quite popular. The original catalyst for many digital nomads was the financial crisis first hitting at the end of 2008 and it being harder to find work, at the same time (roughly) the book "4 hour work week" came out and many people liked the idea of creating their own businesses which they could run and manage the way they saw fit. Since then we have moved on quite a bit and there are digital nomad meetups happening all over the world where people can learn and get to know more about business/travel etc. When I started I knew very little. I followed a few blogs who wrote about how they were earning money while travelling. A lot of them were travel bloggers. i have always been a bad writer so I didn't want to do that. I had no real skills online but always considered myself to be creative (with music and art) I understood that I was going to have to rely on skills that I have to survive so I started to learn how to build websites and it went from there. I started my blog which is just my ideas about what it is like being a digital nomad and thoughts that i have. Then when I knew more, I started some online businesses and are now paying my way.
What types of online businesses did you start? What kind has been the most successful for you? How difficult are the language barriers whenever you move to a new country? I'm interested in web design at the moment and wouldn't mind reading your blog; this lifestyle looks great. PM me a link? (If that's okay) I started a few affiliate websites and a few websites with PPC advertising. The PPC advertising sites have always brought in the same each day, but it is no where near enough to live off. It is just nice to have something that is consistant that I don't need to worry about. The affiliate sites seem to do much better and are increasing each month. With all my websites I have concentrated on making it as passive as possible. I knew some sites would be more successful than others and I didn't want to put myself in a position where I would be having to maintain lots of sites. Affiliate sites are great as once you have written lots of content and designed a great site, there isn't much else you need to do to maintain it. You can then move on to other projects knowing that will be quietly running in the background. ps web design is definitely something to look into if you are interested in it. It opens up so many opportunities and is really fun if you are a creative type. It is something that people will always need and will always be willing to pay somebody else to do it for them. Jackpot for us nomads 🙂
In regards to the languages.. I have found it quite easy by just learning the basics in each country. it is impossible to learn a new language each month, but as long as you are showing that you are trying, people will help you. People are generally really welcoming and will do a lot to make you feel comfortable in their country. Plus there is the added bonus of English being the second language of quite a high percentage of the world 🙂
Would you be willing to link to your sites, or would that be revealing too much personal information? If you don't want to link to yours, could you link to similar ones? I did sware to myself that I would never give out the websites as I do go for niches which have very little competition to make it easy for myself. Releasing the websites to anybody brings a possibility of somebody competing with me, making it more difficult. For that reason, i would rather not. But I can give an example. One website where the owner publicly gives out his income and tells people how he created the site and managed to build up the business. this is one that inspired me a lot.
This may not be your expertise, but I always wondered: how do you go about hosting your own websites? Where do you register your domain and get your webspace? Any offers you can recommend? Do you have all websites running of the same server? I get my hosting through webhostinghub. They are pretty cheap, about $5 per month i believe. Also you can buy the domain there for $12. They are one of the cheaper deals but are not so good when you are receiving lots of traffic. I will be soon moving some of my bigger sites across to a premium hosting company when I feel it is the right time to do so.
PS this is another way I earn money, at the bottom of most of my sites I have a link to the hosting company. They pay me $50 for every new customer I send over. It is quite a nice surprise when you wake up and another person has signed up with them.
What do you do online? I have seven websites at the moment. Some of which are affiliate shops, meaning I am selling other people's products and I get a % of the sale. One is an advertising network comparison site and I am just starting to create an online shop selling website designs.
Doesn't it get lonely at times? Never really building up a strong relationship with people since you're on the move all the time? I travel with my girlfriend so never really lonely. We also get to know people who live in the areas which we visit and always try to stay in an area long enough to allow this to happen naturally. We use websites like couchsurfing to find groups of people to hang out with and who know about the local area. On top of that, there are digital nomad meetups regularly all over the world and it is nice to meet other people who have a similar view on life.
I have been working toward this lifestyle myself. How did you get your girlfriend to agree to do this together? Did she have a job and quit too? EDIT: Rephrasing. She was as keen as I was. I think the pursuit of a more interesting life is something that can sell itself if it is somewhere in you to start with. None of us were happy with our jobs and spent our working days trying to look busy rather than actually working. I felt myself becoming stupider as i was doing the same tasks over and over. Now I feel I have achieved things. There is a nice feeling in building something from scratch and watching it grow.
Do you have a permanent "homebase"? Is there a place you consider "home"? There is no longer anywhere I call home. For the first 20 years of my life it was the UK. Then it was Barcelona. Now I have friends and a home-like life in quite a few cities. I think it is better this way. It keeps my mind free and ready to dive into new things. I think nostalgia is very bad, and having one homebase could add to this.
How do you maintain your social connections? Family ties? I am very close with my family, especially my mum. It is not hard to maintain the connections there. With friends, I regularly organise to meet up in Barcelona. This year I will have been there twice. My friends from the UK will fly over at the same time and we will have a nice time together. Then they go back to work, and i go somewhere else.
What is your favorite place / places to visit, and how do you find Internet connections in those places? Finding internet connections was at the top of my list when trying to find locations to go to. There are some really cheap countries such as India but the internet can be scarce. This makes India an amazing place to visit but I cannot really stay there for too long. I have written about some of the digital nomad hotspots here at the link below. These are places I have visited and are about to visit which other digital nomads have recommended for cheap costs, fast internet and are interesting places to live in.
Incidentally, you can add "patent attorney" to the list of jobs that allow you to be a digital nomad. I can work from anywhere with an Internet connection. I recently tested that theory with a 3-week trip to Eastern Europe - none of my clients even knew that I was out of town. Link to nomadspirit.net
What triggered/inspired you to quit your job? I had worked for an evil credit company called American Express. They make their living from ruining people's lives and putting them into debt. It wasn't a hard choice, really!
Well... technically those people ruined their own lives and put themselves into debt. I have a credit card, but I can't for the life of me recall ever seeing it leap from my wallet of its own free will in order to buy things and ruin my life. It wasn't until I worked for a cc company that I realised how much they pressure people into spending. It is like giving a child a gun. The gun doesn't pull the trigger itself does it? But it is still wrong to give it to a child. Quite a lot of customers that I would speak to over the phone would not realise they had a credit card. They thought they were spending their own money. Shocking..
I am interested in something similar, but I have no specialities in web design/ design of any sort. What do you recommend? I actually wrote a post on this recently here..
Link to nomadspirit.net
Even though web design and specialist internet skills allow a lot of people to work from home, it is no longer the only way. Really, anything that you can do that impresses people can earn you money. For example there is one person that knows how to play the guitar. That's it! But he has made himself a digital nomad by creating instructional videos on his blog and selling membership to his site for something like $2 per month. Its really cheap for people and he is getting hundreds of sign ups as it is such a great deal.
There is another post written by some other digital nomads we like which is non-techie ideas for aspiring digital nomads.. here it is..
Link to www.makingitanywhere.com
Have you read the four hour workweek? If so, has the book made any impact on your business / travels? The four hour work week inspired a whole generation of people when it was first released, but I have never read the book. However, many of the people who originally inspired me had always spoke about it and it had quite a massive impact on their lives. So, in a way, it did have an indirect impact on me.
I consider myself a second generation digital nomad as in I wasn't there at the beginning. I am just joining a movement. A movement which is getting stronger!
Hey OP I don't know if you answered this already, but how often do you switch countries? When you do is it because you have mapped out a timeline, or is it just a free will kind of idea? At the moment we are trying to make our way to all the digital nomad hotspots that people online have been bragging about. This is basically places which have low living costs, fast internet speeds, lots to see and do, safe community, an active expat or digital nomad community with regular meetups and idea exchanges and decent weather. This plan takes us until the end of the year.. then after that it is free sailing. I am most likely going to visit central and south america so I am currently touching up on my Spanish everyday!
But i do like the idea of always spending one month in each city/country so i may continue to do this. When you rent a place for a month, you often get the price that the locals pay, as opposed to what the tourists pay. Also, only flying once per month is healthy for the wallet 🙂
PS Some of the digital nomad hotspots are here on my blog.
Link to nomadspirit.net
I am currently writing the Turkey post, that's where i am now. The last three I will have lived in before the year is done.
Hi, I'm a 22 yo student who doesn't want to root in my home city like everybody I know seem to want. I've almost finished my electrical engineering degree (I will finish in september) and I was convinced to study a post-degree (I don't know how is it called in English, sorry). It actually took me until I was 24 to realise so you are starting before me. (I am 28yrs now). After university I had been working and I started to feel stupid. For the first time in my life I wasn't learning anything new, I was just doing the same job everyday over and over. This scared me. I am not amazingly clever, but i do enjoy learning new things and testing myself. I was worried that a life in a job that didn't push me would make for a very sad life in the long run. I walked out of my job and flew to Barcelona when I was 24 with no plan. Just a friend who came with me for the ride, a backpack and a one night stay booked in some grungy hostel.
I really feel the urge to travel, discover different places, know people and cultures and I definitely don't want to stick in my home city working 8 hours a day to pay things I don't really want for my whole life, like everyone else seem to be ok with. From there it was sink or swim. There was no easy ride, there was no instructions to follow. I had to start talking to people and work out what I was going to do there and how I could survive. Being so far out of my comfort zone was very important. The next time I find myself in that situation I am better at it.
I think your situation was quite alike so what do you think would be the best way to achive my goals? I would really appreciate your advice. The thing about travel when you first start is that you will make mistakes. It will cost you more than you think. I really think the best way is to save hard for 6 months before you set off. This gives you seemingly unlimited freedom over what you do after that. It gives you the time you need to find out what you want to do and what steps you need to take to make it happen. The fast paced life of working and consuming will only distract you and if you are like me, will anger you. So yeh, my advice is somehow give yourself time to really consider what it is you want and toy with ideas on possibilities that can make it happen. It's a fun ride and there are people all over the internet willing to help in whatever it is you are trying to achieve/learn.
What did you do in Barcelona? at what point did you go back home to await your next big adventure? In Barcelona I managed to get one of the few English speaking jobs available which was in a call centre. This allowed me to quickly meet lots of new people and where I met my girlfriend, Erin. I never went home. I think I flew back for my mum's 50th bday for two days and one other time but it was always a passing visit. I flew from Barcelona to Australia, where Erin is from. In Australia is where we had the idea to become nomadic and travel the world. It took about six months for us to do it after deciding.
I have failed on and on and on trying to create a digital business. Do you go micro niche? How do you start your research and early steps? I did go micro niche. I invested in the software called Market Samurai which helps you find the niches which there is no competition. This made is very easy to rank well on google and all the rest of it. I have no interest in competing with people for money so this was good enough for me. I am more happy just earning enough to survive and not having to keep working against other people. The smaller the niche, the less competition. So I always recommend going for a very small niche then repeating this a few times until you have your desired monthly income. Then you can just stop and concentrate on enjoying life or helping people less fortunate, or spending time with your family.. whatever it is that drives you to get out of bed in a morning. Just don't make it to earn more money, that is greed haha.
So much to ponder! So what is the next big thing for you? Does this nomadic lifestyle fit with having a family and interacting with community (thinking of kids) at all? At the moment it is me and my girlfriend Erin who are sharing our life's together. We have no intention of having children, but this was a decision made way before we started to travel. I do know a few families who travel a lot. It does give the child quite a head start in life with knowing more than one language and being introduced to people from different walks of life at such an early age. I also know some digital nomads who only change locations one every few months so to keep some stability in the family which is also important.
TBH I think the more children that travel the better. The more people which consider themselves citizens of the world, and not a specific country, the less people will fight with one another. Also, it is almost certain that these children will not grow up to be racist for example, when they have been living in close proximity with people of all races from birth.
I don't understand. do you live in countries where the cost of living is lower? or is this "digital nomad" thing only for rich people, who don't need to work in the first place? you're being pretty vague here. Yes, I have been spending a lot of my time in cheaper countries. The purpose of this was to keep my spending lower, therefore decreasing the chance of failure and also to go to places that would be full of other people doing the same. There are so many business owners that fail because their overhead costs are too high. But many are now moving to more affordable countries where it only costs $5 per night to stay and they can work for a whole year on new projects without worry of having to support themselves.
I saved up for six months before I set off, this money was the insurance incase i failed, which I was certain I would at one point.
As well as choosing places where the cost of living is lower. I also made a conscious decision to market things towards places where the cost of living is higher. An average Australian buying something online which costs them $10 is only costing them less than half of what they earn in an hour . If you would sell the same products to people in the UK, the same product is costing them double as it would take them an hour of work to earn that money. (Im going on rough minimum wages here but I hope you see my point)
Thanks for the answer, that sounds great. i am interested in which countries are that cheap to live in and accessible to foreigners. how did you research that? btw what languages do you speak (or which did you speak when you started)? Thailand is the first place which we went. If you go to the north of the Thailand it becomes very cheap. The rent gets cheaper, as does the food. Chiang Mai is a favourite for many digital nomads because of this. We found accommodation as cheap as 3000baht per month which works out to about $97 (US). That was just for the room, but was for two people sharing. We spent a bit more as we wanted a working space and a swimming pool etc, but really it is so cheap. We were eating meals for $1 per meal and were eating out two or three times per day.
We speak English and some Spanish. We are learning more Spanish now as our plans include south america and it would be nice to be speaking the language more when we are there. i do make the effort to learn the basics before heading to a country but it can get too much with moving around so often. Maybe just one day learning the common phrases is sufficient.
How do you know which online companies to trust? A lot ask for personal information right off the back and I'm afraid of getting spammed. At first I was only trusting sites which i knew such as Amazon. As I got more confident, I started to understand which companies have good reputations and then would work with them. At the moment, I am only affiliating with companies which I trust and have used. It is much better to promote things that are valuable to people. It is easy to fall down the trap of trying to promote cheap things thinking that people want the cheapest deal where actually what people want is quality.
Can I ask about how much money you make a week or month, and what that money goes towards? I'm feeling slightly uncomfortable giving such personal information over the internet, but I do want to answer your question.. hmm..
Ok, well I am just now coming to the 12 month mark since I became a digital nomad. So when I first started, one year ago, my income was zero. Over the year it has increased each month. It took me four months to reach a balance between income and expenditure. We were living in Chiang Mai in Thailand so our expenditure was very low. Our spending totalled at $794.46 for the month for two people. This was literally everything we spent, food, drinks, rent, bills, the lot. You can see our monthly spending report here to see what we were spending our money on.. Link to nomadspirit.net

Last updated: 2013-06-29 04:03 UTC

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