'Huh?! What is the difference?' I hear you think. The difference between a Digital Nomad and Location Independent Entrepreneur. Is there any difference at all? I think so and would like to explain the practical differences to you.
Table of contents
A digital nomad is homeless
Originally, a nomad is someone who travels around. As soon as the location no longer 'brings' him anything, he moves on. And originally that is 'bringing' in terms of food and survivability. Nowadays this is mainly expressed in FOMO: imagine that there are other beautiful places that I now miss. A nomad has no house of his own. It just moves around. Sometimes a little longer in one place, other times just for a short time. The modern digital nomad roams around; from one beautiful location with Wifi to another. With the aim of enjoying the world. Not so much the survival instinct anymore as it used to be. More of a luxurious form of experiencing life.
Also read: 10 Ways How Digital Nomads Make Money Online
In location-independent business, moving is not a goal in itself
For many entrepreneurs who work location independently, the entire travel is a consequence of their choice to do business in this way. It was not the goal in itself. You don't have to move as a location independent entrepreneur, but you can. Even if you don't like traveling and moving, location independent working is a great opportunity. It offers you the choice at all times. The choice to work where you want. You could 'just' visit your family whenever you want. Your work doesn't stop you. But if you want to be at home, that is also an option: The choice is yours with a location independent company.
Home base as a source of income
Many location-independent entrepreneurs see the opportunities of multiple sources of income. And that is also a reason for them to own a house (or several houses). They see the income opportunities that come with it. You can rent out the house for long term rental or for recreational rental. That makes money. And you can reinvest that money.
What did I do myself? I bought a house in Spain without a mortgage. That house immediately brings me 'money'. The housing costs that I now have will disappear as soon as I move into the house in Valencia. I will reinvest the cash flow that becomes available every month. Into new sources of income. In my case that will be motorhomes for rent and a second home. In my case, the lack of ownership would mean that I have to keep my money in the bank or invest in (more volatile) markets. I certainly do the latter, but not with money that I cannot afford to lose or dare to lose. Money in the bank is not a serious option for me at the moment.
What's in a name?!
Does it matter what name you give yourself; digital nomad of location independent entrepreneur† No. Certainly not even. Broadening your view can ensure that you make choices that suit you. There are many people who do not see themselves living itinerantly. They do not know the 'hybrid' version of location independent living. And so they do and change nothing. While the freedom of choice that arises when your location starts living independently is worth gold. Combine that freedom of choice with work that is built up from your core values and mission and you have a life from which you never have to take a vacation.
You don't get freedom; you create it
No one on this planet is going to fight for your freedom. Only you. So think carefully about how you prefer to live your life. And base your choices on that. Do you think being a digital Nomad is too rigorous? Would you like to have a home base and be able to choose where you want to work and live? Then location independent business is appropriate. I am happy to think along with you about how you can get started. Feel free to plan your Free BreakOut call .
Do not wait until you get freedom, but create your own freedom.