Video link from the 3rd slide:
http://www.youtube.com/watch?v=N8sZjki8LIk
How to build a sustainable, profitable business from anywhere you want. In this presentation I talk about:
1) how much revenue you need to support a 100% independent, beach-hopping lifestyle
2) the kinds of businesses that work well, and the kinds that don't
3) a practical example of my own business, how I got it started, and the milestones I passed in the first year
4) Finally, the top 10 things I ate while traveling around Asia :)
20. I have zero distractions
$3 to get my laundry cleaned and folded in Thailand
21. I eat local 70% of the time
and 30% spent on booze / splashing out
22. I work from cafes
or coworking spaces, or the beach, or the pool, or a
rooftop bar, or my hotel room
23. $2k
Fresh Grad Executive
how the hell am I
supposed to earn $2k a
month by myself?
why the hell would I ever
work for just $2k a
month??
Yongfook says:
It’s about freedom and enabling a
certain lifestyle, not about earning
tons of money (but see next slide).
Yongfook says:
Actually, there’s a lot you can do
and we’ll talk about that in a little
while.
24. $2k
Year 1 Year 3
Treat it as a milestone. I’ve already passed $2k a
month, now almost at $5k a month.
$5k $10k
per month
per month
per month
26. You’ll need!
some savings.!
4 months is plenty.
…but don’t let this be a limiting factor.!
You just need enough money to cover yourself!
until you start earning revenue. Less savings = more
motivation to earn revenue faster!
#practicalfook#itsbestnottostarve
27. It’s a big !
lifestyle change.!
Create a deadline.
e.g. cancel your lease, book a plane ticket, book the first
month of hotel somewhere, set a date for the goodbye party
29. Aim for !
High Margin
Profit enables you to buy nice things like food, !
drink and a place to sleep.
(High revenue but low profit does not enable this lifestyle)
30. Aim for !
Low Touch
Low maintenance businesses enable you to!
enjoy your nomadic lifestyle properly.
Buy Now
31. Aim for !
B2B
Aim to sell to entities who will in turn profit !
from what you’re selling*. It’s an easier sell.
*e.g. tools / resources
45. Start Lean!
a month before!
you hit the road
Validate your idea and make sure there is demand
46. July 2013
Originally, Beatrix was going to be a competitive
analysis tool. It would tell you how good your social
media marketing was, compared to your competitors.
First ever mockup - no code written
47. July 2013
The response was all the same:!
!
“gee that sounds interesting but we never even have time to
create social media content in the first place”
48. July 2013
Of Course!
One big problem that businesses have is actually
keeping their Facebook and Twitter accounts up to date
56. From this point,!
I started letting people!
into the app, about !
200 new users at a time
August 2013
Fix bugs, gather feedback, add features,!
make the experience better for each new batch
57. 6 months to $2k monthlyMonthlyPayingCustomers(avg.$30plan)
0
20
40
60
80
August September October November December January February
$2k
Koh Samui, Phuket, Kuala Lumpur, Penang, Melaka, Bangkok
58. NOW: August 2014
200+ paying subscribers!
and the app is way, way cooler too
100,000+ keywords, multimedia content suggestions
62. I had been mentoring with two institutions,!
SMU in Singapore and True Incube in Bangkok.!
I basically put all of the advice I had been giving !
…into a book.