Paul Jarvis is the author of the book “Company of One”  and one of my favorite creators. After reading his book, I finally got confirmation that all I had done over the last 10 years as an entrepreneur was not completely wrong. Instead of founding a “scalable startup”, I had a “company of one”. And I believe that scaling is possible in my business. However, if I want to continue to stay aligned with my mission of bringing the human touch back into Global Mobility, I cannot scale, automate and robotize everything.

“Au contraire…” (you need to say this with a glass of Rosé in your hand), I believe that Paul Jarvis hit the nail right in. Some companies can and should stay small because otherwise, they might lose their special “umpf”. And you know what I noticed? This is not a question of what kind of business you have right now. It’s more about where you are heading.

If you are also dreaming about leading a digital nomad life where you can live in the Italian countryside near a vineyard, spend the summer at Lake Constance, Germany, fall on Long Island, the winter in Kashmir or Cochin, and spend a lot more time in between with your elderly family members, then my friend, you need to start taking action now.

Go Digital or Go Home?

When I decided to go fully digital in 2018 I knew that I would need to take turns and that this will not happen from one day to another. What I hadn’t anticipated was that I am quite old-school and that I prefer human interaction over online interaction. 

I also noticed that the more I work online, the more I need to write stuff on Post-it notes and use paper to organize myself. For example, I used a Kindle a few years ago. I had it with me this year during my vacation, but I preferred to read paper books. I write in a diary and only use my laptops for calls and business management. I’m taking handwritten notes on an iPad, as this way, I seem to work better with the right side of my brain.

However, the coronavirus has magnified the idea of having a digital business that I could run from anywhere. Still, the main reasons that keep me in one city right now are my personal and professional network and the need to earn a basic income every month. However, over the past years, I have been able to work from Germany, Pakistan, Italy, and other locations when I wanted to spend extra time with friends and family or when we had an emergency situation.

Obviously, it depends on your business model and whether you are a creator, an artist, or a programmer. I love the creative part of my business, but over the last few years, I have also always had to have enough “billable” time to make a living in one of the most expensive cities in the world. 

My corporate friends are wealthier now than I am, and I doubt myself a lot. I’m still unsure how I will survive during my retirement. You might think now that I’m exaggerating, and maybe you think it can’t be that difficult with all my contacts and income streams I have created.

You might be right. However, I live in a very security-oriented environment, and Swiss and German cultures are not very entrepreneurial. It’s more common to be employed and have an excellent career to make a good living. I also want to have a life where I feel that all my potential is utilized.

After leaving the corporate career track I wanted to be myself and follow my passion of creative writing fully. Also, I want to help more people and have a bigger impact, especially on Lifestyle Expats and Rainbow Talent worldwide. 

The best way to get out of the negativity spiral is through continuous education, ongoing learning, coaching, and mastermind groups. Usually, I grow when implementing new technology, improving programs, or seeing faster progress with my clients because I can show them a hack. I buy into organic growth because it allows me to maintain my quality standards. In the corporate world, I often see a lot of back-and-forth and low-quality products. This is not what I want to create with my team. We create experiences and positive learning environments. 

Know How Much Is Enough

As I’ve been following Paul’s work for a while I have been asking myself the “enough” question a lot. You probably heard me say this before, but my relationship with money completely changed when I became an entrepreneur. I would say that I need only 60% of the monthly income that I needed when I was employed. The main reason, aside from lowering my base costs, is that I feel a lot more satisfied with my life since I started my business. Helping you directly makes me happy. I love my work. I don’t need shoes, handbags, suits, or other material stuff to feel happy. I just am.

Paul Jarvis asks three questions: How much is enough? How will I know when I got there? What will change if I do?

He explains how he maintains a minimalist lifestyle and how this helps him to save and reinvest while also allowing him to take extended offline periods over the summer and winter. I’m working on getting better at taking these long breaks as well. Actually, I am on a bit of a longer travel and nomad period right now and making new experiences. I have managed to spend a lot more time with my family in Germany since the Pandemic and even though I do not take long time off work I am in a lot of different places. For me, this is more inspiring than working remotely from home most of the time.

Get Your Finances in Order

I translated this into ongoing questions on what I would like to achieve financially in my business and when we are there it will help to have a buffer as well. My minimum income is 60k CHF gross. This allows me to survive, not necessarily thrive and the minimum turnover is around 140k CHF. You might need to calculate this for yourself, but interestingly enough the minimum salary is exactly what has been determined as a substance for people living in Switzerland. I usually say that you should have 100k CHF in the bank before starting a business full-time. At the time I started mine, I needed this buffer to get through the first few years. Later on, I would find regular income mainly through consulting projects, interim mandates, and classroom lectures or workshops. 

These are usually on-site so that they won’t fit a long-term digital nomad strategy. So, for me, the last question is quickly answered: Once I have enough income to stop working on-site on consulting projects and have a buffer, I can move around more in the world.

I want you to start thinking like a CEO. What could you do if you had your own business, which you can’t do right now? What kind of freedom would this business give you?

I’m generally only accepting new private clients twice a year. If you want to work with me as a private individual, please email angela@globalpeopletransitions.com for an exploration call. If you’re going to start working with me please request an account on our RockMeApp.

References

Jarvis, P. (2019): Company of One.

https://www.amazon.com/Company-One-Staying-Small-Business/dp/1328972356

Blogs and Podcasts

• Sundae Schneider Bean
• Amy Porterfield
• Ash Ambirge
• Matthew Karsten

Other Articles in this Series and Related Content

Global Digital Nomad – Part 5