🇬🇧 First steps to start your business abroad

We often have a business idea, but that idea cannot be implemented in the city or country where we live, either because it is not something that local people value and consume, or because of a lack of qualified labor or any other reason. Sometimes we feel an affinity for the culture of another country and would like to establish a business there, create ties with that country and adapt the business model as you get to know the local culture.

This goal is possible for both, entrepreneurs and self-employed professionals, and although the minimum investment required by some countries is high, others have very friendly conditions and even offer citizenship to entrepreneurs with a shorter minimum stay period than for other types of visa.

What are the first steps?

You can start with the business idea or the place (city or country) of destination. If you start with the location, do a lot of research on the culture of that place and assess the points that may be cultural clashes, affinities, the climate and other factors that can affect your adaptation to the location. Then research what might be interesting in that country, so that you can create a profitable business around it and have qualified labor there to work with you.

If you have the idea and have not defined the place, the next step is to study some countries where this idea might be viable. Studying the markets of these countries will be your next step. If you don't have the idea, nor have you defined the country, ask yourself what do you know how to do very well and that can become a profitable business? Experience in business management can be helpful. Or capital available to pay for the work of competent professionals to guide you.

When you have the idea and a well-defined target audience, you can schedule an appointment with me so I can guide you through the next steps. Target audience is your ideal customer profile. If you have the idea and the country, you possibly have a profile of what your target audience is, if you have studied the local culture, habits, needs, etc. a lot. All consultancy can be performed online. If you want guidance on how to turn your skills into a business idea, you can schedule your time as well. You may have to take some courses before starting the business, but it's part of the process. Every successful business must have start-up capital that is sufficient not only to cover its costs until it starts to be profitable, but also to fund any necessary consulting. And you should know that rarely does a business start to be profitable when it makes its first sale.

And follow this blog and our profiles on social networks, as there are always tips that can be very useful in the process of adapting to a new city or country.

Nycka, the Nomad