What is geoarbitrage? Essentially, geoarbitrage is leverage income made in geographic locations outside the location in which you reside.
Three years ago when I was literally down to my last few pennies here in Japan, groundwork I had been laying in an online Slack group called 10X Factory finally came to fruition, and I was blessed with a sudden cash infusion after scoring three clients in the span of two weeks.
These clients paid well, and my residency in 10X Factory was fruitful precisely because the entrepreneurs who frequent the joint aren't afraid to spend money with good vendors. A project to write a short sales letter netted several hundred dollars, an editing job for an VC pitch document brought in around the same amount and another client who hired me on retainer plus residuals for lead generation and content marketing brought in substantially more.
Three clients. Somewhat quick wins… and, a lifeline I desparately needed. These days in Japan, all of my income to this point is earned teaching a few private clients, and by teaching at YMCA college.
As I move into the latter half of 2021, though, I'm angling myself to do more of the sort of work I used to do in the United States. I've created a free sales prospecting email course, and am fleshing out tech bundles here on Nihon Hustle that will help foks get their own side hustles and consultancies off the ground.
Living in Japan is a wonder. But, doing business in Japan can be difficult. Language is a concern, connections are few, and ramp up time is long. If you leverage your working knowledge of an economy and business climate you're already familiar with, the money you earn (even when it does take a long time to show up) can and will last a lot longer because of how we earn and spend money here in Japan.
When I speak with most people about how to start a business in Japan, nearly everyone is focused on creating a business that resides and operates soley in this country. I think that's a mistake. And, if your Japanese is not up to par, it's a friggin' nightmare.
I plead with you to not spend your life in Japan teaching English unless that is absolutely all you want to do here. If you want to make money outside of teaching English, or if you simply want to share your knowledge with others by creating a course, or something similar, please do that. And think about getting your clients from your home country… not just here in Japan. You might just be handsomely rewarded for the effort.
March 24, 2021
Work Less, Earn More? Kinda.
Special thanks to Joey Csunyo for the killer Geoarbitrage photo.
My video take on this if you're not up to reading at the moment…