Believe it or not, you don’t have to be Silicon Valley to have a startup. In fact, with how ubiquitous the internet age has become, it’s much easier to start a company from virtually anywhere. And while it’s going to take a little bit of legwork, you too can have a firm on your hands while traveling the world. After all, that’s the dream for everyone, right?
Well, luckily for you, today I’m going to show you how to set up your business to be able to venture out. Check it out below:
Figure Out Your Idea
Before you do anything, you have to come up with a solid concept to work off. And while startup ideas are one in a million, keep in mind this doesn’t have to be the next Facebook to be successful, but rather something that has a use-case others can gravitate towards. The more simple you can execute it, the better, as you want something that can be done while you’re on the road. Furthermore, it has to be something you’re passionate about because while you’ll be traveling, you’re also going to be dedicating a fixed amount of time to this, no matter what. However, the basic principle is to find a project that you feel as though will help change the world, and the rest will follow.
Research. Research. Research
After you’ve established your idea, it’s time to start looking into how to get it done. This includes looking at case studies in a similar space, and what they’re doing right versus what they’re doing wrong. For example, say I want to enter the world of fashion, but don’t know how to set up my UX. By looking at a bootmaker like Taft, you can start to get a feel for their design elements, and how they showcase their product. Practicing this will be incredibly valuable into seeing what your target market has already shown success with, and why it worked.
Know How You’re Going To Acquire Funds
Once you’ve figured out where your product is going to fit in the market, now comes the most challenging part: acquiring funds. This is something that’s absolutely imperative to secure before you hit the road, as it will be incredibly challenging to talk with investors or raise money abroad with different time zones. Additionally, while going after Angels or VC’s have been the standard in the past, that’s now changing to become more accessible.
I’ll note that going after the traditional routes mentioned above are usually a much more secure route, the rise of cryptocurrencies has allowed for bringing on funding without the need to fundraise. As Coinschedule notes, there’s been approximately $3.2 billion invested in ICO’s this year alone, which has nearly surpassed traditional Angel or Series A rounds. Take the time to look into what choice might be best for you, as runway is going to be crucial while you’re traveling.
Do Your Outreach
After everything is primarily setup, now’s your opportunity to start showing the world what you’re up to. And as you start traveling, the strategy of meeting up with those in the city you’re in is going to be incredibly lucrative. For example, if I’m visiting New York for a day and want to meet with a new client after a tour of the Empire State Building, the ability to see them in person will help you land deals more often than not. Utilize all the resources you have and learn how to synthesize them with your travel plans, as this could practically pay for your way on its own.
Learn The Art of Social
Finally, one of the most important aspects to your promotional strategy is taking advantage of all the places you’re going on social media. According to HubSpot, 28% of internet users are on Instagram, with a staggering 72% currently on Facebook. These are big mediums to capitalize on, and some that genuinely love travel. Additionally, posting about what you do on the road shows a certain sense of personality and brand, as well as adds a human element to it.
Try to brainstorm a few days beforehand what you can post per each city you’ll be in. These don’t have to be super strict, but just something as a reminder to keep up with. Finally, make an attempt to keep this all within your brand voice, as the better you get at cultivating this, the more successful your inbound efforts via social will be.
As creating a startup to travel seems like a pipedream to most, what are you most excited about trying to do with this opportunity? Comment with your answers below!