You Must Diversify This
By Brandon L Rowe
The Western world is undergoing some pretty major changes. Old political structures are breaking down, the most recent fiat currency experiment is coming to an end and the established center of world power that has existed for most of the past 500 years is shifting from West to East.
It's the uncertainty of this shift that requires us to look at all possible aspects of diversification. Being trapped in one specific geographical locale can be a very dangerous thing indeed. So we diversify ourselves financially through overseas structures and personally through international real estate, as well as establishing residency in another country and pursuing additional passports.
But there's another aspect on internationalization - diversifying your source of revenue - specifically your job or business income. Here are two important criteria found in a "diversified revenue source."
First: Small and agile with low fixed costs.
Depending on how things turn out, working for a long established company could turn out to be a bad thing. Those are the ones that are likely to suffer most during the coming trials. Big, lumbering giants with the perception of prosperity are easy targets for governments and angry citizens or workers. Small, almost-invisible, under-the-radar firms that can adapt quickly to ever-changing market conditions have the best chance of success.
Second: Isn't tied to a specific location.
In the perfect world, your primary source of income should not be tied to any specific geographical location. You should be able to do the job anywhere - whether on the beach in Costa Rica or the steppes of Mongolia if desired. Thanks to technology, this is now more possible than ever - phone calls through Skype, e-mail and document sharing allow anyone to run a virtual business from most places in the world.
It's the virtual business concept that will continue to gain strength over the next few years.
One of the best ways to internationally diversify your income is through entrepreneurship:
It's the uncertainty of this shift that requires us to look at all possible aspects of diversification. Being trapped in one specific geographical locale can be a very dangerous thing indeed. So we diversify ourselves financially through overseas structures and personally through international real estate, as well as establishing residency in another country and pursuing additional passports.
But there's another aspect on internationalization - diversifying your source of revenue - specifically your job or business income. Here are two important criteria found in a "diversified revenue source."
First: Small and agile with low fixed costs.
Depending on how things turn out, working for a long established company could turn out to be a bad thing. Those are the ones that are likely to suffer most during the coming trials. Big, lumbering giants with the perception of prosperity are easy targets for governments and angry citizens or workers. Small, almost-invisible, under-the-radar firms that can adapt quickly to ever-changing market conditions have the best chance of success.
Second: Isn't tied to a specific location.
In the perfect world, your primary source of income should not be tied to any specific geographical location. You should be able to do the job anywhere - whether on the beach in Costa Rica or the steppes of Mongolia if desired. Thanks to technology, this is now more possible than ever - phone calls through Skype, e-mail and document sharing allow anyone to run a virtual business from most places in the world.
It's the virtual business concept that will continue to gain strength over the next few years.
One of the best ways to internationally diversify your income is through entrepreneurship:
- Create a "no borders" business that will allow you to earn a solid income no matter where you choose to work - structured in a way that doesn't trap it in any one jurisdiction.
- Set up a new business in a fast-growing, high-potential foreign country.
- Diversify your existing business into new jurisdictions.
Brandon Rowe is the Managing Director of International Man, a service for new and experienced freedom-seekers, investors, adventurers, speculators and expatriates who are looking to live an international lifestyle. International Man regularly releases content-rich reports on the 3 Elements of the IM Triangle, a proprietary model that helps internationalists define their perfect overseas solution, whether assets, personal, income, or any combination of the three. Learn more at http://www.internationalman.com
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