Marketing Analytics Q&A: Running a Location-Independent Business

Remote and location independent international businesses are on the rise in the late 2010s. In fact, Walter Analytics as a company and a team is also a remotely operated business. In our weekly Q&A session with Neil Walter, we walked through the process on how to run a business remotely. If you would like to participate in our next Q&A and ask your questions, please sign up and register here. As some of the queries contained business information, we only show the general ones here as we’re always respecting our clients’ and prospects’ privacy.

running-a-location-independent-business

Finding people online is easy but finding the right talent? Not as much. There are numerous talent pools for online freelancers and location-independent employees like UpWork, Angel.co or RemoteOK. Certainly, there are some fundamental differences between the hiring processes as well. Hiring online needs a lot of transparency and background checks and requiring some pre-work or test-work sometimes is a must. Finding the right talent is not as hard though as keeping it. Invest in company culture, even if your organisation is entirely location-independent.

Where would you set up a location independent business?

Taxation is an issue with location independent businesses and also the corporate laws. We would advise you to find the country to incorporate where the corporate law has all the options you need and setup the bank account where you spend most of your time to get your revenue right away. Currencies, however, can be tricky so you should stick to international currencies regarding billing, like the USD.

Location independent business is not for everyone, where would you draw the line?

If your organisation needs a personal connection and touch, you should not go location independent. However, most of the highly personal attendance businesses can go remote after a good amount of self-education. If your business is a local small business offering local products and services, location independent might not be your option as well. Also, anything that involves a very physical location, like real estate, might be not worth to consider.

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