TN90: What is a portable business and how to make it scalable

One of the most simple and common questions I get at my speaking engagements and Tandem Nomad conferences is: What is a portable business? And the followup question is usually: How do I make it profitable? In this episode, I do deep into answering these questions for you. I believe that portable business is the best solution for expat partners who want to continue their careers while I’m moving from one country to another with their partners. That is why I’ve created the podcast and built the Tandem Nomads community. But you might be wondering what makes a portable business? There are many aspects to consider when creating a portable business and to truly make it portable. One of the unique challenges is to continue with that business, grow it, scale it and make it profitable while in the usual transitions of expat life.  Let’s get back to the basics and understand where to start, what you need and how to take action to build your portable career. What is a portable business? What you will learn in this episode: The benefits of a portable business How it’s different than online or e-commerce businesses What is the difference between a profitable and a scalable business How to scale a portable business Three types of businesses to consider given your life goals What to do if you want to build a business where you are physically in touch with people “You don’t have a portable business if you don’t adopt technology” Download my list of the online tools I use for my portable business Highlights from the episode How portable business fits with expat life transitions (06min:00sec) Why this isn’t the same as digital nomads (08min:46sec) The mindset needed to succeed (11min:05sec) The single most important necessity for a portable business (13min:45sec) Legal and visa issues and how to overcome them as expat partners (17min:07sec) Technology needed to make businesses portable, viable and sustainable (23min:00sec) Ask yourself the four questions that make up your business model (28min:38sec) The three types of businesses that you can make portable (30min:07sec) What makes a portable business scalable and how to do it (33min:40sec) The 60/40 balance to appreciate your expat experiences while building a business (41min:42sec) “Growth comes with many learning curves, make sure to enjoy the roller-coaster ride!” Take action now! Download your toolbox with my list of indispensable online tools Answer these two questions: which element from this episode will you focus on implementing and how will you do it? Other episodes to inspire you Marcelle Yaeger ep 29 – how she scaled two businesses Melissa Mathews ep 84 – virtual PR agency in the US while living in Saudi Arabia Ebere Akadiri ep 81 – scaling a product based business Rosiane Houngbo-Monteverde ep 75 – legal advice and resources for expat partners building portable businesses Andrea Martins ep 37 – creating a startup and selling it for 6 figures Erica McMannes ep 83 – building a portable startup and generate revenue in 9 months Erin Long ep 46 – how she started an online speech therapy services