How I Made $5,000 a Week While Traveling the Globe With the combination of hard work, discipline, and the will to succeed, you're already well on the way to living the life you want.
By Timothy Sykes Edited by Dan Bova
Opinions expressed by Entrepreneur contributors are their own.
There's a new wave of entrepreneurs who don't just run profitable businesses, they run those businesses while traveling and experiencing all that this incredible world has to offer. I'm thankful to fall into that category.
I make about $5,000 a week traveling the globe and trading penny stocks along the way. The beauty of my job, as well as the jobs of many others, is that you can work from virtually any remote location. I take full advantage of this and have travelled to dozens of countries thus far, and counting. Here's how I do it.
Related: 8 Ways to Make Money As a Digital Nomad
The key to building a business while you travel?
The primary thing you need to build a business as you travel is discipline. I have a huge travel bug that could quickly take over my life, but I have disciplined myself always to put my work first. In the mornings and the evenings, as well as time slots throughout the day, I settle down and get my work done. Without that discipline, you'll quickly fall behind on your work. It's easy to get caught up in the excitement of travel and all the activities and potential distractions that come with it. Look at your travel as a supplement to your work, not a distraction.
Related: How to Stay Focused: Train Your Brain
Build a business that doesn't need you in the office.
These days you can manage a lot of businesses while you travel. But if your business requires you to appear in person, you'll find it impossible to build a business while working remotely.
I love trading because I can do it from anywhere there's a stable internet connection. The things I can't manage online, I outsource. The power of outsourcing is an immense benefit to your business. When utilized well it can also be a cost-effective way of running your business.
Related: 5 Things Small Businesses Should Outsource
Always be learning.
It's easy to get comfortable and to disconnect from the world while traveling. But my advice to entrepreneurs who want to do this is always to be learning. The internet is your best resource for constant learning. If you fall behind the curve, you're going to see your profits diminish.
Related: Why You Should Strive to Be a Lifelong Learner
It takes hard work.
Working doesn't change because you travel. There are still bank accounts to manage amd responsibilities you must take care of. Don't underestimate how much hard work this takes. Unless you have a sufficient amount of money in your bank account, I advise you to build up your business so that you can support yourself first. I never recommend going all in because trading takes time. To be successful you need to learn, and everyone masters day trading at different rates. Go at your own pace.
Even when you're traveling, you'll have just as much work to do as if you were working at home. Don't make the mistake of assuming that work and travel are easy.
Regular: 50 Ideas for a Lucrative Side Hustle
Be flexible in your business.
There's a reason why I'm not just a stock trader. Businesses change all the time, and I understand that not all my ventures are going to be relevant 10 years from now. The adage, "Never put all your eggs in one basket" has never applied more to business than it does in the climate of today.
Once you're successful in one area, you need to diversify your interests. It goes back to my point about always learning new things. I always keep my eyes open for my next business venture and emerging industries.
If I had to boil down building a successful business while traveling, I would credit hard work and discipline. Those are the two characteristics that allow me to make $5,000 a week as I feed my travel bug. With the combination of hard work, discipline, and the will to succeed, you're already well on the way to living the life you want.
