9 Best Practices for Remotely Managing a Business: Tips for Traveling Entrepreneurs
As the air travel industry booms and the world continues to digitally transform, more entrepreneurs are fully adopting a nomadic lifestyle, managing their ventures remotely as they travel the globe. However, success in managing a business remotely requires more than just finding hotel rooms with Wi-Fi. To make remote business management sustainable, you’ll need to think about the challenges systematically and adhere to tried-and-tested best practices. Let’s look at nine essential strategies you’ll need to implement to effectively manage your business on the road.
1) Invest in the Right Tools for Remote Work
If you want to be a digital nomad, you’ll have to invest in a lightweight but powerful laptop that won’t get in the way when you’re traveling the world. Additionally, you’ll also want to make sure your smartphone has good battery life and reception as it will be a primary tool for managing your communications, business operations, and finances.
Just as important is the selection of apps and cloud computing solutions you use. These solutions should not only be easy to use but also localized for the market your business targets. For example, if you run a WooCommerce shop that targets Filipino customers, you’ll need a WooCommerce payment gateway Philippines-focused businesses can use to accept payments. With the right payment gateway, WooCommerce stores will be able to accept important local digital wallet payments in addition to major credit cards and methods like PayPal.
2) Try Remote Work Before Traveling
If you’ve never done remote work before, you’ll want to make sure that you’re fully prepared before you leave the comforts of your home. In particular, familiarize yourself with the tools and technologies that enable remote collaboration. For instance, if you’re used to a comfortable home workstation, see how well you’ll do with just a laptop and cloud apps on your kitchen table. This trial period allows you to identify potential challenges and address them proactively, ensuring a smoother transition when you’re on the move.
3) Do a Trial Run
In addition to testing remote work tools, consider conducting a limited trial run of doing remote business operations while still close to your home base. Do a working staycation so that you can mimic the conditions you anticipate during your travels further afield to uncover any potential pitfalls. This practice run will help you refine your remote management strategy and anticipate any issues before they cause serious problems on the road.
4) Adjust Your Sleep Schedule
Traveling across time zones can disrupt your circadian rhythm, affecting your ability to make sound decisions and lead effectively. To mitigate the impact, gradually adjust your sleep schedule before departing. This adaptation will help minimize jet lag and help you maintain peak performance while managing your business remotely.
5) Get Good Accommodations
Choosing the right accommodations is essential for having a productive work environment on the road. Before you leave, make sure to only select places that offer reliable internet connectivity and minimal distractions. Prioritize hotels and other accommodations that offer a purpose-built business center, coworking spaces, or quiet areas with strong WiFi connections. Choosing spots with environments that are conducive to work should contribute significantly to your ability to lead your team effectively from a remote location.
6) Make Sure Your Team Gets Paid On Time
Smooth financial operations are the lifeblood of any business, even remotely managed ones. Ensure that your team receives their payments on time, even while you’re traveling or otherwise unable to connect to them. Setting up an automated payment system through your business’s bank should do wonders to prevent disruptions that could impact morale and productivity.
7) Plan Your Finances Carefully
Traveling entrepreneurs must have a clear financial plan in place. Factor in expenses related to both business operations and personal travel. Create a budget, monitor expenses diligently, and set aside a contingency fund to handle unexpected challenges that may arise during your journey.
8) Use a VPN
Using a virtual private network (VPN) helps protect sensitive business data from potential security threats. Just as importantly, it can prevent your bank or payment card provider from automatically blocking your account when you’re doing transactions from overseas. Ideally, you’ll want to contact your bank or card provider ahead of time to avoid this situation, but having a VPN should just also make things a lot less of a hassle.
9) Be Flexible
Being flexible is key to successful remote management, especially if your business is several time zones away. Having a mindset that embraces the unexpected and giving yourself room to adapt to changing circumstances will make it easier for you to come up with workable solutions when challenges inevitably arise. Being game for these unpredictable situations allows you to get a handle on management stresses, allowing you to better maintain business continuity and capitalize on opportunities that may arise during your travels.
Managing a business remotely as a traveling entrepreneur comes with its unique set of challenges, but with careful planning and adherence to best practices, it can be a rewarding and successful endeavor. By having a realistic picture of the challenges you could expect, you’ll be well-equipped to lead your team and achieve business success from any corner of the globe.