The Easy Entrepreneur

Work the Way You Want, Live the Life You Love

Category: Easy Entrepreneur

What gets you out of bed in the morning? Atop Castle Peak, Tahoe National Park, California.

What Gets You Out Of Bed In The Morning?

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The Japanese have a term ikigai (pronounced Ick-ee-guy) that translates to your “life purpose,” or as I prefer, your “reason to jump out of bed in the morning.”

What’s your reason to jump out of bed in the morning?

For most people, it’s that pesky alarm clock. Perhaps they’ve hit the snooze button a few times, after tossing and turning all night from the stress of the day before. They dread getting up in the morning.

But as an Easy Entrepreneur, you get to create the life you want to live! So, let’s try this again.

If you could have the life you always wanted, what would give you a reason to jump out of bed in the morning, excited to start a new day? And no, don’t say “sitting on a beach” because that gets old quickly. What would give your life more purpose and keep you energized every day?

One common way to approach finding your ikigai in the modern world is to make four lists: What you love doing, what you’re good at, what the world needs, and what you can get paid for. Your ikigai is the cross section of these lists.

Your goal as an Easy Entrepreneur is to mold your business into something that gets you excited to jump out of bed every morning.

For example, here are some things from my lists:

  • Things I love: adventure, outdoors, travel, learning, feeling healthy, eating, building things, helping people, being happy, ice cream.
  • What I’m good at: computers, finance, learning, organizing things, solving complex problems, math, eating ice cream.
  • What the world needs: teachers, leaders, world peace, more empowerment, more opportunities for people, ice cream that is actually healthy.
  • What I can get paid for: teaching, business consulting, running a business, engineering.

Putting this all together, my reason to jump out of bed in the morning is to “distill the principles and practices of the Easy Entrepreneur, and teach others how to run a successful business and live a great life!” It’s something that I’ve been excited about for several years, and gets me up every morning without needing an alarm!

That’s my ikigai, what’s yours?

Imagine running your own business. What would you do?
Elements Massage Sunnyvale, California.

How To Start A Business While Keeping Your Job

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What if you could run a profitable business while keeping your job? You could have the best of both worlds — a stable income and short-term security from the job, and a second income and long-term security from the business. Once the business is big enough, you might be able to quit your job and semi-retire, and spend more time on activities that you love like your family or traveling around the world. You could also expand to more locations, cash out and sell the business, or just hold on it for the extra cashflow!

I’m not making this up, because I’ve done it! I ran my first business (a therapeutic massage franchise) in around 10 hours per week. I spent the rest of my time traveling, and started a new gig as an Area Director for the massage brand. I only went in to my shop about twice a week, when I was in town, and that was often to get a massage! After five years, I sold the business for a profit. Now I’m semi-retired and help other people go into business.

So, how can this be done? The easiest solution is to buy a semi-absentee franchise, which is basically a business-in-a-box that’s designed for this kind of operation.

Semi-Absentee Ownership

Semi-absentee is a model of business ownership where the owner works on the business, not in the business. Typically you hire a manager to run the day-to-day operations, and you spend your time focusing on the bigger picture aspects of the business.

I didn’t give massage when I ran the massage business. I hired massage therapists for that, and receptionists for scheduling appointments and customer service. Then I had a manager to take care of the employees, operations, and customer issues. The franchise provided many business systems, training, and operations support. My job was to take care of financing, marketing, and business strategy. I worked part-time, on my own schedule, and from home most of the time.

Here’s an example of the roles that you and the manager could take, though you can customize this however you want.

Owner’s RoleManager’s Role
Invest in business
Manage the manager
Manage the finances
Decide on marketing & promotions
Design strategy to grow business		Day-to-day operations
Hire & manage employees
Handle customer issues
Implement marketing & promotions
Implement business systems

However, semi-absentee is more than just an investment. Any business takes work, and you need to keep the business going in the right direction. You should expect to spend at least 10-20 hours per week on the business, though you may be able to decide when and where those hours are. You should also expect to spend more time at the beginning to get the business up and running, though a franchise can help with that.

Why a Franchise?

If you start a business from scratch, there is a huge learning curve and long time to build out the systems you need. You have to make every decision yourself, and it’s easy to make a mistake and go down the wrong path. Only about two thirds of businesses survive the first two years, and the failure rate is even higher for restaurants and tech startups.

With a franchise, you get a proven business model and a lot of support, which helps you get started faster. Franchises also have a higher success rate. FranNet, the company I work with, found that 91.2% of the franchises that they placed were still open after two years. That’s much better odds than starting on your own!

While every franchise is different, you typically get the following:

  • An existing brand
  • A business model that’s been tested and refined in other locations
  • Marketing support to bring in customers faster
  • Training on how to open and run your business
  • Ongoing operations support
  • Business systems such as software and brand trade secrets
  • Network of other owners
  • A franchisor who has a financial interest in your success

Furthermore, there are franchises that are specifically designed for semi-absentee ownership. They are built so that the owner can hire a manager for the day-to-day operations, and the franchise may even provide training and support directly to the manager. These are in many industries, including fitness, personal care, cleaning, pet services, retail stores, automotive, B2B, and many others.

The other great thing about franchises is that you can do a lot of research before you get started. You can find out things like the business model, expected startup costs, ongoing fees, training and support, and the franchise contract — all before you decide which franchise to work with.

What’s the Catch? Investment Level

Any business is an investment in both money and time. Semi-absentee businesses are typically a higher investment, because you need to pay a manager. However, they also scale better, because you can run multiple locations because you don’t have to be there every day. Once you have learned how to do one, it’s easy to replicate.

How much is the investment? That varies greatly from business to business, and there’s not a direct correlation between investment and return (but neither is a business a better bargain because it seems “cheap”). Some service franchises can be started for less than $100k, and opening a McDonald’s costs $1-2.2 million!

The good news is that because franchises have already opened many locations, each one can tell you the expected investment. The other good news is that, like a house, it’s easy to get a loan so that you only have to invest around 30% of your own money. In fact, it’s easier to get a loan for a franchise than starting on your own, because the franchise brand already has a history of success.

Getting Started in Business Exploration

There are over 3,600 franchise concepts out there in 90+ industries, and you need to find the right one for you. You can search the internet and do your own research, but much of the information you need is hidden, and the franchises that you’ve heard of may have already sold all the good territories.

Would you buy a house without a real estate agent? Like a realtor, a franchise consultant can help you identify which franchises match your goals and work style. They can help you through the process of talking with each franchisor, to understand their business model and decide if it’s right for you. Best of all, there’s typically no cost to you, and no obligation if you decide that business ownership isn’t for you.

I work with FranNet, whose franchise consultants have been helping people go into business for over 30 years. I can work with you to understand your needs, recommend potential franchises, and help walk you through the process. As I mentioned, there’s no cost and no obligation, and I’m available for questions anytime.

Here’s an outline of our process:

  1. Fill out a Personal Franchise Assessment, which looks at your values, motivation, work style, and investment tolerance.
  2. We’ll meet 1-1 and build out your personal business model, which we use to identify what kind of business you would want to build.
  3. We’ll identify some potential franchises that match your business model, and you can decide which ones to talk with.
  4. You’ll speak with the franchisor, and they will give you information about their business, including the Franchise Disclosure Document which includes estimated startup costs, financials, and the franchise contract.
  5. If you like a franchise, you’ll get to speak with existing franchise owners and ask them questions about what it’s like to own the business. In some cases, there may even be local owners who you can speak with to learn about the local market.
  6. If a franchise seems promising, you’ll likely have an opportunity to go meet the executive team and make a final decision whether to go forward.
  7. Open the business! Every good franchise has a process to help you get your doors open quickly.

If this sounds good to you, please reach out to me to get started.

Having a Business / Work / Life Balance

Here are a few tips for juggling a semi-absentee business, a job, and still having time for a life.

  • Follow the system. Franchises have developed many business systems and tested them across many locations. Yet some franchisees get obsessed doing things their own way, and focus on the wrong things. Especially as a semi-absentee owner, it’s better to follow the system and get it 80% right, than to focus on the other 20% and get 80% wrong.
  • Hire, delegate, and trust. Nobody is going to do things as well as you would, but it’s important to delegate work and let them make mistakes. One of the first things I did was give my manager a credit card (with a spending limit), so that I didn’t have to be involved with every purchase. Give them direction and motivation, and let them do their jobs.
  • Control your schedule. Many business owners become workaholics, as there is always more that you could work on. While my business was open 11 hours a day for 7 days a week, I mostly worked from home, took weekends off, didn’t work past 8pm, and only went in a couple of times a week (when I was in town). I had to make it a discipline NOT to work too hard, so that I didn’t burn out.
  • Learn as you go. I knew little about running a business before I bought my first franchise, but I quickly grew it to be the biggest location in California and the #1 business on Yelp in my city. I learned from the franchisor, local business seminars, blogs (like this one), books, and free audio books from the library.

Ready to get started? You can jump right in with the Personal Franchise Assessment or reach out to me and we can chat about your goals and questions.

“Do something today that your future self will thank you for.”

Sean Patrick Flanery

Proud owner of my massage franchise.
Sunnyvale, CA

7 Benefits of a Franchise Business

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When I got serious about quitting my job and going into business on my own, I didn’t know where to start. I looked into franchising because it provides an existing business model and a lot of support.

I bought a massage franchise, grew my location to be profitable, and built up its reputation. I had a manager to run the day-to-day operations, so that I could focus on marketing and growing the business. Most of the time I only had to work about ten hours per week, which I could do from anywhere. I only went in to periodically check on the business and get a free massage. Five years later, I sold the business for a profit.

If you have no experience running a business, or even if you do, a franchise can be a great way to go. Rather than going it alone and figuring everything out for yourself, you partner with a parent company (the franchisor) who provides everything you need to get started.

Franchising is a business model where a parent company, called the franchisor, licenses the use of its business systems and trademarks to independent companies, called franchisees. The franchisee invests their own money to open an independently owned and operated business, following the rules and model of the franchisor. Franchising is regulated by the Federal Trade Commission in the United States, to help make it a safer investment for franchisees.

1. Proven Business Model & Business Systems

When you buy a franchise, you are copying a business model that has proven successful in other locations. You will get many business systems that are already designed for you, so you don’t have to reinvent them, and there may be many that are centralized for economies of scale.

For example, my massage franchise came with a membership business model where I get paid on the first of every month, before my bills are due. They have systems for booking appointments, customer service, marketing, employee training, key performance indicators, and much much more.

Compare this to starting your own business, where you have to make every decision yourself and don’t know what will work.

2. Training & Support

Franchises have a training program for new owners, as well as ongoing support. They have a vested interest in making you successful.

I knew nothing about running a business nor about the massage industry before I started my business. The franchisor provides a week of of classroom training, site visits, workshops and conferences, and tons of online resources.

3. Network of Owners

There is also a network of other franchise owners, who you can always reach out to for help. A good franchise will host regular workshops and conferences to get the owners together.

I got many of my best ideas from other owners, including growing my gift card sales from $12k to $50k in just two years!

4. Semi-Absentee / Manager Run

Some franchises are designed to be semi-absentee, which means that the owner isn’t there every day. They are run by a manager who handles the day-to-day operations. This leaves you, the owner, to focus on high level aspects of the business such as marketing, strategy, and finance. Or you can keep your job, spend more time with your family, travel the world, or become a ski bum. In fact, many franchises are designed especially so that an owner can run multiple locations.

My massage business was exactly like this. I had a manager who took care of all of the employees and customer issues, and freed me up to work on the aspects of the business that I liked – marketing to get in new clients and strategy to grow the business. I was often able to run the business in around ten hours per week, and could work remotely while I traveled.

5. Brand Awareness

Some franchises already have national brand recognition, and your location benefits from the marketing of neighboring locations. It is virtually impossible to build up this level of brand awareness on your own.

6. Business Disclosure

The Federal Trade Commission requires franchisors to share a lot of useful information to potential buyers. This is put in a document called the Franchise Disclosure Document (FDD), which is updated and audited annually. This includes the estimated initial investment, upfront and ongoing fees, franchisor assistance, territory, contracts, etc. This can help you understand the costs of the business, what the franchisor provides, and your role in running it.

Furthermore, before getting into a franchise, you can speak with other owners who can tell you what it’s like to actually run the business. They can tell you how much money they make, what the day-to-day operations are like, and how it is to work with the franchisor.

There is nothing like this if you start a business on your own.

7. Financing

If you don’t have enough money to start the business on your own, it’s much easier to get a Small Business Administration (SBA) loan with a franchise. This is because you can piggyback on the reputation of a national brand, so banks are more likely to approve a loan.

Challenges of Franchising

Like any business, a franchise is not a guaranteed success. It may also have higher costs than running a business on your own, as you will have to pay an upfront franchise fee, ongoing royalties (usually a percentage of your gross income), and may have higher expenses. That said, you’ll be able to anticipate many of the costs (from the Franchise Disclosure Document) and many franchises have a higher success rate than starting a similar business on your own.

There are also bad franchisors out there, who have the wrong priorities and don’t provide the support needed to make their franchisees successful. You should spend time getting to know the franchisor as well as talking to existing franchisees before deciding to go forward.

Getting Started

If you are interested in franchising, I can offer a free consultation. I have run a franchise business myself, and now I work with FranNet to help potential business owners find the right franchise. There are over 3,000 different franchise business concepts out there, but which one is right for you?

I will work with you to understand your goals, strengths, and passions. Then we will explore different franchise concepts, to identify which ones fit your lifestyle and financial goals. You will be able to dig deeper, talk with the franchisor, and understand their business model. You can even speak with other franchisees who are already in business.

There is no cost and no obligation to this service. The only thing that I ask is that if you do engage with me that you follow the process. You can let me know anytime if you decide that it’s not for you.

Learn more to schedule a free consultation.

By renting your home on AirBnb and traveling to a low-cost city, you can get paid to travel! Kuala Lumpur, Malaysia.

How To Get Paid To Travel Abroad

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I’m currently staying in a studio apartment in Kuala Lumpur, Malaysia. I’ve got a beautiful view of the city from the 16th floor. I’ve got all the first-world amenities I could need – a desk to work at, fast Wifi, clean kitchen, nice bed, climate control, free laundry (in my room no less), gym and pool, and even a cafe in the building! We got a really good deal for about $20/night on AirBnb.

It’s right in the city center. Just outside the condo is a street with bars and a dozen international restaurants. They have burgers, pizza, Mexican, Cuban, Italian, Arabic, Irish, Thai, Vietnamese and many other kinds of food. There are also many local restaurants and cheap street food within a five-minute walk. It’s a ten-minute walk to the subway and posh shopping malls.

For a night out, we went to the sky bar atop the 5-star Banyan Tree hotel. We had amazing views of the whole city, got to witness a great tropical storm from up close, and then the winds blew away the clouds and had great views of the city at night. Drinks were around $10 each, and were quite good!

For a weekend away, we took the bus to Penang island, and rented another Airbnb that was even nicer! It had an infinity pool and was on the 31st floor!

Everyone here speaks English as a second language, so I’ve had no problem getting around.

Business Model

Clean modern condo for $20/night on AirBnb. Kuala Lumpur, Malaysia.

The cost of living here is extremely low. It’s easy to get by with a good quality of life, for less than $50 a day. Here are some example costs in Malaysia:

  • Housing: $20-40/day in a private, clean, modern AirBnb condo with gym and pool.
  • Meals: $2 at a local restaurant, $5-10 at a clean air-conditioned restaurant in a modern mall. That includes tax and service, since they don’t have a tipping culture in Malaysia.
  • Phone: $15 for a local SIM card with unlimited 4G data for a month.
  • Coffee: $0.40 for local coffee, or $3-4 for a latte.
  • Laundry: free in my room.
  • Subway: around $1.
  • Taxi: $20 for a 50 minute ride from the airport.
  • Bus: $10 for a 6-hour ride to Penang.
  • Flight: $600-700 from San Francisco, $23 to Penang.

Meanwhile, back at home, I’m renting out my living space on AirBnb. I net about $80/day just from one room, and I plan to convert another room when I get back for an additional $100/day. I can manage all the bookings from my phone, with self check-in and a cleaner who turns the room over between guests. It’s a very easy side business to run.

The math is simple. I can earn $180/day from renting out my living space, and I spend $50/day to be here. Stay for a week, and it will even pay for my plane ticket!

How To Do This Yourself

First, you need to set up your living space on AirBnb. Make sure this is allowed by your lease, city, and HOA. Here are some tips for AirBnb:

  • Give guests the whole space. We give them a seperate entrance, keyless check-in, a bed, and a bathroom. We lock the doors to the rest of the house, and don’t give them access to the kitchen.
  • Declutter your personal effects. Guests feel more comfortable if they don’t feel like they’re staying in someone’s home. Put all your personal stuff in a locked closet or room.
  • Keep it clean. Do a deep clean or have a professional cleaner to make the space spotless. Make sure to have a good, reliable cleaner who can come between guests. We use TurnoverBnb to find and manage our cleaner.
  • Invest in good furniture and linens. We bought some new furniture for the room, and have many sets of quality linens. It’s worth the upfront investment to get good ratings.

Second, you need to find a good place to travel cheaply. Mexico, Asia, South America, and Eastern Europe have many cities where you can live in what I call a “first-world bubble.” You can speak English, stay in a modern condo (often with more amenities than home), drink Starbucks, and eat at clean restaurants at an affordable price (well except for Starbucks, which is expensive everywhere). Of course it’s more fun if you venture outside your comfort zone, but it’s not required.

Some travel tips:

  • Location, location, location. You want to be central, in a safe (tourist) area, and near public transportation and restaurants. You don’t want to feel isolated and stuck.
  • Stay comfortable. You can find some beautiful places on Airbnb, whether you want a historic room or a modern condo. I like having a gym in the building when possible.
  • Manage costs, but don’t skimp. I like my lattes, so I was OK to pay American prices for coffee, but save on everything else. You can afford to treat yourself to some home luxuries.
  • Set up a routine. If you plan to work and travel, it takes extra effort to keep a routine that includes dedicated time and space to work. Of course if you’re just taking vacation, you don’t have to worry about this!

Please share comments if you’ve tried this yourself and have any additional tips. And for those of you who aren’t allowed to rent your living space on AirBnb, I’m sorry – lobby your landlord, HOA, or government to allow it!

Anyway, my two hours of work is done for the day. Time to go for a walk and find some local food.

Enjoying life in Costa Rica, while my business is working for me.

Why Work? 10 Reasons to Own a Business Instead

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“Self-employed people are four times more likely to be millionaires than those who work for others .”

Thomas Stanley, The Millionaire Next Door

My former employer once ran a job recruiting campaign with the headline “why work?” I think they were trying to convince people why to work for them, but I took it literally. I quit my job and started a couple of businesses. Now I’m semi-retired with a couple of businesses on the side, and help other people who want to accomplish the same!

Why work? Well, we all need money to pay our bills and survive. For most people, the easiest way to get money is to have a job where a business will pay you for your time and effort.

But there’s another way. Instead of working for someone else’s business, why not have your own business that works for you? That’s right, a well-run business is an asset that works for you. It creates value that people are willing to pay for, and as the owner of that asset, you collect the income. That doesn’t mean that it doesn’t take work to create and run a business, but ultimately you can build it into something that works for you.

Here are some of my favorite reasons to run a business:

  1. You are the boss. You don’t have to answer to a bad boss, and you don’t have the stress of performance reviews or arbitrary deadlines. No more corporate politics. You make the rules.
  2. Freedom. If you set up your business right, you can work where you want, when you want, and how you want. I’ve run mine from cruise ships, on an African safari, and hiking in the French Alps – all while owning a profitable business with 25 employees.
  3. No income limit. Most billionaires are business owners. Your paycheck isn’t limited to how much (or how little) your boss wants to pay you. This is not to say that it’s always easy to make money, but there is no glass ceiling!
  4. It’s never boring. I’ve learned so much and grown as a person since I started my first business. I’ve learned hard skills like marketing, accounting, and strategy, but also soft skills like leadership, customer service, and diplomacy. Every day is a new experience!
  5. More family time. Since you work for yourself, you can also spend more time at home or traveling with your family. No more missed soccer games, and more time to enjoy life with my aging parents.
  6. More hobbies. You have time to learn other things too. Since quitting my job, I’ve picked up piano, yoga, and cooking, to name a few.
  7. Community. Your business is also a bigger part of a community than you are as an individual. It’s fun being part of something bigger!
  8. Career growth. It’s basically jumping from wherever you are stuck on the career ladder right to CEO, COO, CFO, CMO, and CTO (among others). As an entrepreneur, I’ve learned how to be an executive. I’m also 10x more driven, focused and productive than when I was working for someone else.
  9. Pride. Your business is yours. You created it and you own it! Every time I drive past my store, look at my website, talk with my employees, or see one of my ads, I feel the pride of ownership.
  10. Legacy. Your business is an asset that you can pass on to your kids, or sell, and it can live on.

Business ownership isn’t for everyone, and it does take planning and work to build your business the right way and create the life that you want, but that’s what the Easy Entrepreneur is all about!

Contact me if you’d like a free 20-minute consultation on how business ownership could work for you.

Living the good life. Palawan, Philippines

Financial Independence, Retire Early!

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Wouldn’t it be nice to retire when you’re young enough to enjoy it, and have the energy to travel the world or spend time with your family? That’s what the Financial Independence, Retire Early (or FIRE) movement is all about.

I hit my retirement number in 2018, still in my early 40s. If I wanted, I could retire and never work another day in my life. However, I like making the world a better place through business, so I’m choosing semi-retirement instead. Now I work on what I want, when I want, and where I want — and travel the world the rest of the time (hi from Los Angeles at the moment!).

There are three basic steps to Financial Independence, Retire Early:

  1. Develop good financial habits.
  2. Know your retirement number.
  3. Prepare for retirement.

Develop Good Financial Habits

While you might think the easiest way to get rich is to win the lottery, many lottery winners don’t have good financial habits and go broke again! The best way to get rich is slowly, through good financial habits. If you don’t have these, I recommend reading some books on personal finance, such as The Millionaire Next Door or Rich Dad, Poor Dad.

Here are some of my favorite financial habits that I have honed over the last decade:

  • Spend less than you earn. This seems obvious, but most Americans don’t get it.
  • Get out of bad debt. Credit card debt is for suckers. Pay it off first and never borrow from a credit card again (I haven’t in 20 years). Then pay off auto loans and other personal debt, then student loans. Loans that let you leverage appreciating assets, like a home mortgage or a business, may be worthwhile (I have several mortgages, but chose not to go into debt for any of my businesses).
  • Develop multiple streams of income. I have rental properties, an Airbnb room, stock investments, and three businesses right now. Even if I didn’t work, I’d still have income coming in. And if any of my nest eggs breaks, I still have others.
  • Invest wisely. Take advantage of compound interest and have your money make money! Don’t try to time the market, but don’t be afraid to go opposite of what everyone else is doing.

Know Your Numbers

Now that you’re saving money, you need to know two numbers:

  1. Your net worth. This is the total value of all of your assets, including cash, money in the bank, home value, credit card debt, . I use mint.com for this to track it daily.
  2. Your retirement number. This is the amount of money that you can live on for the rest of your life. There are a number of ways to calculate this, but I like using the 4% rule. Figure out how much money that you can live on for the rest of your life, and then multiply it by 25. For example, if you need $50,000 per year, then you need $1.25 million saved. You can put this in a fairly safe account that earns 4% a year, and never have to work again! It’s even safer if you have passive or semi-passive income, such as rental properties or a business.

Plan For Retirement

Once you are getting near your retirement number, you should start planning for your retirement. Here are a few things to keep in mind:

  • Lifestyle – What is the lifestyle that you want when you retire? Do you want to buy an RV, live abroad, or play computer games 24/7? Do you have a spouse and are they onboard? What about children?
  • Healthcare – The Affordable Care Act may not have made healthcare as affordable as we’d like, but it does put a limit on health insurance costs so that you won’t go bankrupt, especially if you have a pre-existing condition.
  • Borrowing money – It’s much harder to borrow money, especially large amounts like mortgages, when you don’t have a steady stream of income. If you have a mortgage, you should consider refinancing before you quit your job or sell your business.

Of course, when you reach your number you may be having so much fun that you don’t want to retire! That’s what I’ve done, and it’s one of the best parts of being an Easy Entrepreneur.

Exploring the World
Halong Bay, Vietnam

6 Awesome Things About Traveling as an Entrepreneur

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I’ve always loved to travel, and I’ve been able to take it to the next level as an entrepreneur. I typically take one big trip a month, along with lots of shorter trips. For example, I went to 7 states and 10 countries in one year (including visiting the Grand Canyon twice because I loved it so much!)

Here are a few fun observations about travel for the self-employed.

1. You Own Your Schedule

Rule #1: Always check with the boss before taking time off. Rule #2: You are the boss!

When you work for yourself, you can take off whenever you want. Monday has no special meaning, except that most of your friends are busy working at their jobs. Neither does Saturday or Sunday, except that your friends are more free to hang out, so I’ve found it’s a good practice to minimize work on those days. For travel, this means you can go whenever you want, or even just take a random weekday off for a day trip.

2. Work From Anywhere

For many kinds of business, you can get a lot of work done remotely. Even when I had a brick and mortar business with 25 employees, I structured the business so that I was not in a critical position where I had to be there every day. I got an email twice a day with a status update of the businesses key performance indicators and any important updates. With technology I can be reachable anywhere in the world, and my employees and clients don’t know the difference.

3. Maximize Productivity

My most productive time is the week before a vacation, because I’m highly motivated to get decisions made and work done before my trip. I also have a lot of energy to get things done, because I know I’m going to have a time to relax afterwards! When I do work on a trip, I’m often motivated to work quickly so that I can get back to enjoying the trip. So, taking vacations more makes me more energized and productive!

4. Get Inspired!

Sometimes distance can give you a better perspective on things. Many of your best ideas may come while you’re disconnected, such as on an airplane, hike, or exploring Machu Picchu. In fact, the idea for this article came to me when I was on an airplane, and I wrote most of it on the flight!

5. Get the Best Deals

Since you own your schedule, you aren’t restricted to travel during the most expensive times, like the holidays. If you go off season, you can find incredible deals, and often without planning too far ahead! I’ve seen spring and fall flight deals to Europe and Asia for a fraction of what they cost in the summer or holidays. You’d be surprised how many airlines have sales, once you start paying attention!

6. Business Expenses

Some activities during your travel may be a business expense and be tax deductible. For example, if you visit a competitor’s business while on vacation, that may count as market research. You can even plan a whole trip around a visit to a business partner and be able to deduct the whole trip! Consult your accountant on this and be sure to keep this reasonable and honest, or the tax auditor may come knocking.

As a final note, I would like to add that a good work / life balance don’t come automatically with being a business owner. Many owners end up overworked and feel like they can never get away. However, planning your business and your life right is what The Easy Entrepreneur is all about!

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