Working as an expat can be both extremely fun and very stressful.
The opportunity to work in a whole new country in itself is very exciting.
You can explore a plethora of new cultures, languages and people right on your doorstep.
However, finding a job that pays enough for you to live a good life can be difficult.
This is particularly the case in countries such as Thailand and Japan, in which the barriers to higher paying jobs can be relatively high.
At James Hopkins Coaching, we believe that one of the best (if not the best) ways to make money as an expat is to set up your very own online business.
This can be done around the globe, selling your services to businesses in countries where you have never been to.
Here are some of the best (and worst) businesses to start as an expat in 2021.
The first online business you may consider setting up is an E-Commerce business.
For example, you may find that there is a gap in the market for product A.
As a result, you set up a store selling that product online.
The problem with this model is that the marketplace is extremely saturated.
The likelihood of finding a whole new idea is extremely small due to the millions of stores available online.
As a result, you may find that being profitable in this niche is quite difficult.
Another business you may consider is to teach English online. This particular business model is ideal in countries such as Thailand and Japan, in which the demand for English is high.
At James Hopkins Coaching, we have met many individuals who have managed to make a living teaching English through online classes.
The only problem with this particular model is that it’s not very scalable.
You’re still being paid for the number of hours you’re working as unless you work you simply won’t get paid.
A third business model you may consider as an expat is Affiliate Marketing.
As an affiliate marketer, you will sell products from another business and make a % of the profit.
This particular model can be successful when completed correctly.
If you’re able to scale the business, you can begin making enough sales that affiliate sales will become your primary income.
However, much like E-Commerce, the market for affiliate marketing is relatively saturated. As a result, unless you have a high level of marketing intelligence it may be difficult to stand out from the crowd.
The fourth option you can choose from is Digital Advertising. At James Hopkins Coaching, we believe that this particular model is your best option for making an income.
The market for digital advertising is set to grow exponentially over the next decade, with opportunities growing around the world.
This particular niche allows you to work only a few hours a day for large profits compared to other business models.
Once you understand the foundations of digital advertising, you can be well on your way to setting up your own agency.