“The one thing that is easiest for beginners to absolutely start with, is not necessarily like an online business, is just freelancing... and it's a good way to eventually transition into an online business by offering these services, seeing what's in demand, seeing how much you can charge, and even just learning a certain skill.” - Yury Byalik

Yury Byalik left New York five years ago in pursuit of location freedom as a digital nomad. He is the Director of Strategy and Acquisitions for Onfolio, a holding company that acquires and runs online businesses. He shares his story of how he became a digital nomad and how he made the decision to go all in and quit his job. He shares that it was a lot of work to get rid of everything, but once he did, he felt a mental release. He recommends starting an online business as a way to make money while traveling and having more control over your life!

[00:01 - 14:36] Online Business Models That Support Your Independent Lifestyle

• Yury talks about online business models for those of us pursuing location independent lifestyles and also gives us some tips on buying online businesses
• He shares his journey into the nomad lifestyle, which started when he decided to quit his job and travel in order to find himself
• He recommends getting rid of all physical possessions before embarking on a nomadic journey in order to reduce the amount of weight that feels burdensome

[14:37 - 23:43] Affordable Ways That Will Allow You To Work While Travelling

• Yury recommends slow travel over fast travel because it is more affordable and allows him to work while travelling
• He recommends having an online business in order to be able to live and work in beautiful places
• He shares different ways to make money online
• • Freelancing
  • Drop shipping
  • Subscription boxes
  • Buying an existing business

[23:44 - 31:59] Popular Ways To Make Money Online

• Yury discusses how one of the most popular ways to make money online is through affiliate marketing, which can be done with Amazon or other websites
• Buying an online business can be expensive
• • Flippa
  • MicroAcquire
• It is important to look at the industry the business is in

[32:00 – 01:00:10] Wrapping Up! 

• Yury recommends reading and watching videos to learn more about what you’re interested in
• • Find a mentor to help you save time and money
• Get in touch with Yury! (Links below)

Key Quotes

“You find yourself when you lose yourself in the service of others.” - Yury Byalik

“Buying an existing business, that's already making money can save you a lot of time, a lot of money, and it's already profitable.” - Yury Byalik

“If you can find a mentor, that's the best way to save a couple of years. The best thing to do is not to kind of go and listen and read as much as you can. You first want to know what you're trying to do, and then when you have questions or you're trying to figure out a problem.” - Yury Byalik

Connect with Yury

Website: https://onfolio.com/

LinkedIn: https://www.linkedin.com/in/ybyalik/

Twitter: @YuryByalik

Crunchbase: Yury Byalik

Instagram: @scorpio8401

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