Global Business and Becoming an Ex-Pat Entrepreneur with Andrew Henderson of Nomad Capitalist

Perpetual traveler, expat entrepreneur, citizen of the world – Andrew Henderson

Opportunity is everywhere in the world, and sometimes it’s easier to see problems in our countries (because America has them solved already). Learn from Andrew on how to start a business in another country, and why it may not be the best idea to live in America full time.

Resources Mentioned in the Podcast:

• Adventure Capitalist: The Ultimate Road Trip by Jim Rogers

Go to NomadCapitalist.com for more info!

Thanks so much for listening!

Transcript:

Announcer: Welcome to the Eventual Millionaire podcast - with your host, Jaime Tardy. Real talk and real advice from real millionaires, with a sharp focus on you - the Eventual Millionaire.

Jaime: Welcome to Eventual Millionaire. I'm Jaime Tardy and today on the show I have Andrew Henderson. He runs an awesome site called NomadCapitalist.com, you should all check it out. He started a multi-million dollar business at the age of 19 but now he really cares about freedom and protecting your assets. I'm really excited to get into this today - thanks so much for coming on the show, Andrew.

Andrew: My pleasure. Great to be with you.

Jaime: So let's chat a little bit about how you got into business - was this one of those where you were innately an entrepreneur? I know we go back and forth but is it a learned skill or is it something innate? What do you think?

Andrew: Well one of the reasons that I believe the world is changing so much is that I think you really get a boost from your environment, your upbringing. I had a father who, in addition to being in the media, was an entrepreneur, he had his own business, so you're brought up with those values, the hard work, the idea that nobody owes you anything, and it instills that in you. When I was 11 or 12 years old I was reading Bill Gates? books and I wanted to be in the tech sector and so I was an entrepreneur from a very early age, riding my bike up and down the street back in 1995 or '96 when there was really no centralized internet for, for example, the real estate market. I sold my parents' house by building them a little website and I would do that for other people for a couple of hundred bucks. So, yeah, I've always done that and when I was 19 years old I was going to a party school and I didn't really want to do that, never really liked people telling me what to do and having to wake up at 7am and do this and that so I branched out and did my own thing. It's always kind of been in me.

Jaime: That's awesome. So do you think you've learned a ton along the way? When we were chatting before you said you like "unsexy" business. I love that! Tell me a little bit about that.

Andrew: It's the way I approach a lot of these things. In my first business I was in the broadcasting business, I had a great passion for that, I lived and breathed that business. After I got out of that I started to look at things a little bit more as an investor, my father was in the financial business so I always had that angle as well, where I liked to look at things a little bit less passionately. I'm not the guy who wants to put every dollar I have into one venture and I just have to make it work; I like to be a little more cautious. But I do like unsexy businesses because, taking that hybrid model of being an entrepreneur, getting your hands dirty, making things happen, as well as capital investor because I like cash flow. What are the odds of me going out and starting Facebook? There are a lot of pioneers that go out and get slaughtered. There are a lot of people who imitate and get slaughtered. I like businesses that other people don't want to be in - there's a saying that successful people do what unsuccessful people won't. Obviously Facebook is very successful but if I can go to Cambodia and create a company that's much more efficient at hauling garbage and I can build that into a very successful company, I think that that's something that a lot of people ignore and I love that simply path of fixing inefficiencies and fixing things that people need that aren't in the market.

Jaime: That's awesome. That's the funny thing about Nomad Capitalist which we haven't talked about - you have over a million airline miles from within the last couple of years, which is insane. Especially when most people in America just stay here for their entire life, whereas you're like "I'm going to go build a business in Cambodia," which is crazy for a lot of people. Tell us about the travel - why even travel? Then I want to get into finding businesses in those areas. I know it's not something that everyone is going to do but I find it interesting that you can go to a new place, knowing what exists in America, and build it somewhere else. So tell us why you're even going to Cambodia and flying like crazy everywhere.

Andrew: Well for me it's a bug - I started travelling at a very young age. I had two maps in my big bedroom when I was 8 or 9 years old and I went to Europe with my family when I was 9 for a couple of weeks. I came back and I couldn't care less about the US map, I didn't really want to look at Nebraska and what was going on there, I was planning on all these different places around the world that I wanted to go to and I started asking questions and I was very curious. When I became an adult I started travelling fairly young. At first it was going to Norway for a couple of weeks, I was going to trace my routes, that sort of thing, but I met people along the way, got into relationships and people influenced me to want to travel more. For me, the bug was noticing how things were different in every place. You'd go to Ireland or Britain and you'd say "I'm making 1% interest on my savings, here it's 3.5%? and I started to really think about a lot of these things. I read Jim Rogers' book "AdventureCapitalist" when I was young, about his travels around the world, and I put this idea together that you can be more successful by taking the best of all worlds out there. The more I travelled, the more addictive it became and I believed that there were greater opportunities outside the United States and the western world than in so now I'm devoted to finding those opportunities, finding the most freedom, finding the best places to put money and start a business. That's what it's about.

Jaime: What are your pieces of advice for starting a business anywhere? Most of the people I interview are in the US. Bobby Kasey, your friend too, I've interviewed in Latvia. When I got him on the phone I was like "You're in Latvia, really? Out of everything, you're in Latvia." So what makes you think "Yes, I'm going to go there and start a business in some random country?" How do you determine whether that's a good idea or not?

Andrew: The interesting thing about somewhere like Latvia is that there are certainly people who want to be in business in Latvia but there's not always the entrepreneurship in some of these countries. Sometimes there is a lot of entrepreneurship but it's easier to make connections in a place like that. I've been to some of these countries and it was relatively high level government officials - you're not going to meet with a senator in the United States and talk business. So when it comes down to finding the right place the first thing I think that's important is what's your comfort level there? I personally don't think you have to live somewhere to do business. Obviously if you're starting something on the ground you need to commit the time, at least initially. But what's your comfort level in that place? I look at how easy it is for someone to be an entrepreneur, what's the capital requirement, what's the life cycle of cash in these places? So I look at somewhere like Cambodia and this is somewhere where they're reducing their already low regulations, where they want to attract foreign investment, and I think that's very important. What is the attitude on foreign money' What is the attitude towards treating people who are very successful? That's very important. And what is the direction in which it's heading? To me, culture is a very important thing. I'm a big fan of China, I know that doesn't necessarily jive with the freedom element, but let me tell you something - there is not a better culture on Earth for business.

Jaime: Really?

Andrew: Absolutely.

Jaime: And you wouldn't just assume that? Considering you're a Nomad Capitalist and you're saying that China has the best business. Tell me a little bit more about that.

Andrew: I'm not saying the government is the issue, although what I will say on the government, not to be overly political, is that there is this notion that the US or Canada or whatever is the most transparent and has the most freedom in the world, but listen - how many countries has China invaded or tried to overthrow since World War II? For the US, it's dozens. China, not so many. So there's a certain amount of propaganda that China is the evil place and the United States is perfect. That aside, here is a country where people work their tails off. I'll give you an example ' I was in Bangkok in Thailand a couple of months ago and someone told me a story that's the exact opposite of what would happen in China. He said people wake up, they go to the market, they get their 200 pieces of chicken, they go and run their food cart, they don't negotiate on price because they don't have to. They know how long it will take them to serve 200 servings of chicken, they'll knock off at 1:30, go home, have a beer and enjoy their life, having made enough money to get by. In China it's the exact opposite. When I want to invest somewhere, when I want to get things done, I want to go to the country where they get up at 4am, go to the market, get as much as they can and when they run out they send their wife to get more, they come back and they're selling until the last person leaves at 11pm and they're parking all the money in their family's businesses, making more money, building business. I love that.

Jaime: Hustle. They've got the hustle, apparently. That's awesome. So tell me a little bit more; I want to dive deeper into you evaluating a country - how do you evaluate the businessopportunities? Not even necessarily going to other countries, but how do you find these unsexy business opportunities?

Andrew: I can give you examples that I've just seen in the last couple of days. Richard Branson talks about how some of the best business ideas are the most simple. What do you experience in everyday life where you say "I wish this would change?" This is why I spend significant time on the ground. There are other guys who travel around and they spend two or three days in each place and they move on. I like to spend a month or six weeks in these places because you start to see the issues. Now, not every inefficiency needs to be corrected. For example, here in the Philippines, in Manila, there's an app that you can download and you pay 60-80 pesos, which is like $1.5 US, and you can have a taxi come to you. Now, if you've ever waited in Manila for a rush hour taxi you'll know it can be difficult - like on Sunday it took me half an hour and I ended up with some beaten down taxi that was stalling every 30 seconds. So I would pay 70 pesos to use that. In the Philippines they have what they call Filipino time - it's perfectly acceptable to be late, everyone's late an hour or two hours, whatever. No one's paying 70 pesos to not be late. However, all the international cafes - Starbucks, Coffee Bean and Tea Leaf, etc. - charge 200 pesos to get a Wi-Fi card. People don't really like spending that kind of money on Wi-Fi. Now, is it a big enough differentiator to open up a cafe and say "We have free Wi-Fi and we serve your drinks faster?" Maybe, maybe not, but you start to see little things, from cafes to airlines to whatever, and then you start to observe the culture - what's acceptable, how people operate - and you mesh the two together and you come up with a lot of different ideas.

Jaime: That's awesome. So it's sort of by absorption. When you have an entrepreneurial brain you're like "That's a problem, that's a problem," and you can see what might work. So how do you determine what's an opportunity and what's not? Especially when you're in the Philippines and the amount of cash, just the conversion rate for money, is a different thing. So being there and going "Okay, that's an opportunity but would it actually make me any money?" how do you determine that?

Andrew: I don't take advantage of every opportunity. Obviously right now I'm focused on travelling round and I'm minimizing opportunities that I'm taking part in and trying to meet people. I think that's important - I met with a guy the other day, an American who's a Filipino citizen, he's back now and he wants to start businesses. Finding people like that is just as important as finding the opportunities. I like the muse concept from "The Four Hour Work Week", that doesn't make me the ultimate entrepreneur in that I like to dip my toe in and kind of test things, but here's an example - I was in Laos for a week in late October. Here's a country that has a capital city that's grown four-fold in the last couple of years, there's a fluid middle class of 5-10,000 people, they want beauty products, they want western style stuff, they're driving an hour to Udon Thani in Thailand to buy it or they're flying to Bangkok and buying it even cheaper and kind of smuggling it back in. there's where they go when they want coach bags. If they want to get beauty products there's one or two stores but they charge four times what they charge in Bangkok. So I ran a little test on Facebook, using Facebook ads, just targeting Laos - would anyone buy certain clothing or beauty products if I just put it up? I think that's a way that you could test the market. Laos is obviously very small so you might not get the perfect result doing it online but that's just an example of finding business opportunities. There's a lot of arbitrage out there and there's also a lot of "what has already been built in the west that hasn't caught up yet in these countries" Because they're just growing so fast. McDonald's is not in Cambodia because they've sworn off Cambodia.

Jaime: Really?

Andrew: It's just that they're not ready yet.

Jaime: But eventually, and once they've grown bigger and bigger. So you merged online and offline. At the beginning we were talking offline - garbage trucks, stuff like that - but then you said you did a test online to see if something will work. Do you use a lot of online business tactics offline in these countries?

Andrew: I have the website, we sell things at NomadCapitalist.com. But for people who are familiar with that market I don't think it's essential but if you're an online person maybe you don't want to get into the garbage business. In terms of selling products, you know, I think it's a good way to test the waters. There are other ways to test the waters but, for me, I thought it would be intriguing to see the results of, okay,let's take Laos and maybe a few other countries and let's see who wants to buy perfume. So I think that's an interesting way to test. There are other ways to test but I do like the muse concept of could you work with someone locally, could you bring in a suitcase full of stuff and see how you move that? However you want to test it is fine. Obviously Facebook or whatever online vehicle is one way to do that.

Jaime: Okay, so first I have to know is did that test work? What results came back?

Andrew: I wrote about it. Laos was so inconclusive, I mean it really is so small. At the beginning I think women 25-40 in, I forget which country, I wrote about it but now I forget, we found that, I think Vietnamese people were a lot more interested even though there was less of an arbitrage, less of a spread in that case, people were more interested in American brands, for example.

Jaime: I'll link to that article so that everyone can check that out too. Before you talked about meeting with people that have similar ideas to yours - do you partner a lot?

Andrew: I'm a big partnership guy. I like the idea of being able to bounce ideas off of people, I like using people that have complementary skills to what I have. Occasionally you find someone exactly the same as you are, I don't think that's always complementary, especially when you want to be in the entre-vestor area where you're not going to be doing all of the dirty work. I think two people who don't want to do dirty work is obviously not a good thing. But absolutely and I think when you're overseas, finding someone on the ground is important. There are so many companies out there - there's a book called "The $10 Trillion Dollar Prize" and I think it's one of the best books on trans-Asia in the world. One of the stories in the book is about Nabisco, basically getting their clock cleaned in China when they introduced Oreo. They did what a lot of these multinational corporations do - they were in a board meeting sometime, someone said "China! We need to be in China.", "Alright, send some guys over to China, airlift some big packages of Oreos in there? What did they find? Chinese people said the cookies are too bitter, the cream is too sweet, there are too many packets, we're not going to pay this much for a splurge, and they almost had to leave with their tail between their legs until they finally hired some people on the ground or repatriots, people from China who went overseas and came back, and they figured out "Hey, listen - we need a green tea Oreo, we need three in a package and it needs to cost 2 renminbi, not 8." I think that knowing people who understand that is very important, especially in a big market like China, maybe less so in Cambodia where they're more forgiving, but nevertheless.

Jaime: So you don't know the culture unless you've been there for a very long time, so you won't be able to sell them something if you don't actually know your market very well, which is sort of business 101 but of course when you're a huge corporation you're like "Send Oreos - that works!" That's awesome. So how do you find good partners? Because on this show we've heard some horrible business divorce stories so tell me some of your tactics for finding a good partner?

Andrew: I think it's a friendship, to be honest - you meet people, getto know them, it's not something that can be rushed. I meet people and think "Okay, this guy has skills in this area," but I think you really need to analyze. I just look at responsibility and, again, think this is one reason why culture is so important, because you've got responsibility more in some areas than you do in others, it's just the way things work. So you've got to sync up, first of all. People ask "Why am I not bigger in South America? I don't dislike South America but I'm a type A, impatient guy. I don't want to wait until tomorrow, I want to get things done now. So places where things are a little bit slower are not my thing." If a person is that way, they're probably not my person. I want someone who's 10, 11pm, midnight. I'm always involved - when I'm building something, I'm hands on. I just look at who's a responsible person and putting them to the test, having a friendship but also do things get done or is there excuse making' Avoiding all of that and I think, over time, a lot of people weed themselves out.

Jaime: Sounds like you're a tester, so you're like "Let's try this and see how it goes."

Andrew: I'm not saying that, for every person I meet, it's like a Machiavellian thing - "This guy's going to be the garbage guy if he doesn't screw it up." Again, it's just all part of networking, whether it's formal networking - I was at a meeting with the American Chamber of Commerce and the British Chamber of Commerce in Manila last week, that was exciting. But I run a site, people are always contacting me - "How do I do business here?" Most of them just want your help but some of them have good ideas. Whatever avenue you have for finding people, nurture that and see how it goes.

Jaime: Awesome, thank you. I need to ask you this because I care about this - you talk on your site about second passports and how you might be able to get a second passport depending on where you live. If you could just school us on the 101, for people listening, because they've probably never heard of it before.

Andrew: The concept is, first of all, if you're an American, I think that western passports are more and more becoming an albatross around people's necks. I have a lot of friends, like I said, in China and they're always complaining about the Chinese passport because it has very few visa-free travel options. The reality is that, for as big a country and as big a government as China has, a lot of people there are running businesses and there's a lot of illicit stuff going on that no one really cares about - people are moving money to Hong Kong and Malaysia, all here and there, and people in China understand this and they're buying second passports illicitly. So the concept of a second passport is more important to the US but it's everywhere else too. If you're an American you can live anywhere on Earth and you're still going to owe taxes to the US government. There are ways to get around it if you're in business and you have a permanent residence overseas but you're basically a tax slave. On top of that, I look at growing lack of freedoms in a country like the US, in a country like the UK which, in the last two years, stripped 20 people of their citizenship and made them stateless because they said they're political enemies of Britain. I think you're going to see more and more of that. I think that governments are going to impose higher and higher taxes, they're going to impose more wealth confiscation if you have assets like gold or businesses, real estate, things like that, I think they're going to want to get their hands on that as they become bankrupt and I think people need a place to go for when things get bad. If you look at an empire like the United States you can go back through history, whether it's, before the French revolution, the Ottoman Empire, the Roman Empire, you name it, they all had the same issues that are present now in the US and the western world. I think it's only a matter of time before things get worse and the countries that I think have the best cultures are the ones where they don't trust the establishment. I have a friend who is a second passport attorney in Canada and he told me a story about a Chinese guy who moved to Hong Kong who said "We always had a fast junk boat in the harbor and a second set of papers and some gold because we never knew when we were going to have to go if things got bad."

Jaime: Crazy. In America we think "That won't happen to us, come on!"

Andrew: It's not that I'm picking on the United States but it really is the most insulated country in the world. I go to places and I meet people from Switzerland, for example, and I ask them about their knowledge of these issues and they say "We're surrounded by X number of countries, we speak four languages, we can get out of the country in any direction in an hour and a half," and they understand it, whereas in the United States you're bordered by Canada and then by Mexico to the south, which I think most people still think is a third world dump even though it has one of the best growing economies on Earth now, so there's not a lot of knowledge of what's going on in the world.

Jaime: So if someone's in America now, has a business and the business is going pretty well, what do you suggest they do?

Andrew: If it's an online business I see no reason to be operating in the United States. It pains me to no end to see all of these tech businesses that just go with the flow and set up in California. To be honest, there are so many countries around the world that are setting up the next Silicon Valley. Look at a place like Chile, where a startup Chile program has grants of $40,000 to encourage people to bring their business to Chile and operate from there and a very favorable tax climate, the weather is just like California - they're trying to build the California of South America but with much more laissez-faire economics. I don't know when one of these tech companies is going to say "You know what? We don't want to be in California and pay all of this money." I understand Google can do double Irish and all of that but a lot of these people are paying a fortune, they're paying a fortune to live in San Francisco when they can live in Manila, Kuala Lumpur, Santiago, Eastern Europe for $1000 or less a month, at least in rent. If you're online, I would say get a second residence, if not a second passport, you can do it for a couple grand in some cases, live outside of the United States, travel if you want, live in one place, have an offshore corporation. I know our friend Dan Andrews talks about that in Hong Kong, I happen to agree with him, that's a good place if you don't mind doing a little bit of paperwork. If you run an offline business, I got out of offline businesses in the US, I'm looking elsewhere - I don't want US exposure, I really don't. I know some people won't believe that the US, if they continue to do business there, but there are ways you can use the offshore world to diversify to lower your taxes. I don't believe you owe anybody half of your efforts and so if it's offline I would try to wean away from that and figure out ways to minimize in the meantime.

Jaime: Or maybe go online if you possibly can and then move once you've got that cash flow. So, say if somebody was like "Chile, that sounds nice," how long do you have to live there in order to have a permanent residence there? Are you allowed to come back to the US, considering you have a passport there too?

Andrew: You can be in the US. There are certain ways you can set it up, and this is a lot of what we talk about on my site, there are different ways in which it works but you can get a second residence in a country like Paraguay in South America, which is a very up-and-coming place, very freedom oriented, obviously there are some issues with the country but I think, in general, it's a good place to be. You can do that in a week - you can go down there, pay some government fees, hire a lawyer to help you, it will cost a couple of thousand dollars, you don't even have to live there. If you want to avoid US taxation, obviously I believe in doing things legally, you do not want to live in the US every day of the year, you want to minimize your time in the US but it's very easy to do. Here's the way I look at it - there's a brainwash effect that goes on in every culture and in the western world we're taught that whatever we do is the most civilized way to do things. What I do is I say "Okay, if taxes are so civilized, that's the cost that we pay for civilization, then why can I go to Singapore where the average company is paying single digit tax rates and that's very civilized - you can lick the streets, it's so civilized." So maybe the taxes we're paying are not what makes it so civilized. If I can go somewhere else and they have a different way that also works, why am I not going there? That's how I look at it.

Jaime: Derek Sivers, a guy that I interviewed, lives in Singapore and it's amazing over there, so I've heard. I haven't actually been there yet.

Andrew: It's a little bit like Disneyland.

Jaime: Seriously? Okay, I have to go. Maybe instead of Disneyland this year I'm going to go there. That's awesome - I really appreciate this information. A lot of people don't realize this. Having Bobby on the show beforehand I got a lot of e-mails going "Wait? what?" but I also got e-mails from people going "Well, no, that?s just huge doom and gloom. We don't want to think about that," which is tough. What do you say to someone who says stuff like that?

Andrew: I'm not the ultimate doom and gloom guy - I'm not building a concrete bunker under my house, I'm not storing years' worth of food. People do that, and all due respect to them, but I'm not the nomad activist or the nomad prepper, I'm the nomad capitalist - I want to go where my capital is treated best. The reality is that, if I can start a business in the United States and the government can siphon off 40% of it, or I can set up a business in Singapore or Malta or the Seychelles or in Uruguay and I can pay next to zero, which do I want to do? You can say I'm depriving children of food, grandmothers are going to be pushed off cliffs - the reality is that it's a competitive world, capital needs to go to where it's treated best and it will. To stay somewhere because of some personal, emotional ideology is so counter-intuitive to what business is about. Business is about maximizing your revenue - yes, it's about lifestyle as well, but I think that the idea that you can't have a good lifestyle outside of your home country isn't true.

Jaime: What do you think America should do, though? Is it just completely screwed? What do you think?

Andrew: I read the book "Leviathan" when I was very young - you can't fight the system. I know there are a lot of people who want to stay in the United States and fight - I am not one of them. I am not a doom and gloom guy because I do see so much opportunity - I believe that when one door closes, another one opens. When Switzerland shuts down, Gambia says "Hey, we want to start an offshore corporation hub," and ten years from now maybe Gambia is where Seychelles was 10 years ago and it just kind of rotates. So I'm not doom and gloom for that reason. But I'm also geographically agnostic. I don't think that it's my job to fix a country. People have what they wanted - I'm not saying that Mitt Romney is the answer to people's problems, I'd like to get rid of all of them, but people wanted a bigger government system, they have what they want, they wanted higher taxes, they wanted to punish people who are successful, they wanted to punish entrepreneurship - they said they don't but that's what they really want - and they have it. Why is it my job to stay and fight and not run a successful business? I see people who are fighting - are they running multi-million dollar businesses? I know what the goal is but it?s not my job to fix a system that everyone else wants. They majority of people have spoken, they want that, so rather than sitting around and talking about American revival and American revivals, go to a place that is the new America, go to a place that has those values that you believe in.

Jaime: That's really interesting. I'm going to get some good comments on this one; I really appreciate it. But I think a lot of people don't want to touch the subject and therefore they need to know this stuff, whatever side they're on, whether they're sticking with it and not moving or not, but they need to know both sides so I really, really appreciate you being here. I always ask the same last question - what's one action listeners can take this week to help move them forward towards their goal of $1 million?

Andrew: I recently put out three tips that were good for starting an offshore or an overseas business, something that's important here. If I could narrow them down to one tip I'd say - broaden your horizons. One thing that I do while I'm overseas is that I'm talking to everybody. I don't want to put down anybody's ability to contribute. One thing I think is that, as an entrepreneur, you need to be a sponge of information - you need to be getting it from everywhere, you need to be reading, you need to know your market, know your business, you need to be talking to other people and it's your job, as the entrepreneur, to filter out who has bad information, who has good information, what you can extrapolate. So I'd say it's widening your horizons - who can you add to your circle that you're not talking to now? I talk to waiters, I talk to bartenders, I ask everyone for their opinion - I go somewhere and say "If you wanted to start a business, where would you start?" A lot of the time it's not great information but either they have an idea or maybe they're speaking as a consumer who wishes they were some business and that's what they would do as a consumer, in response to the market, and you filter all of that information out and I think that widening your horizons is very important and I think it allows people to be more successful.

Jaime: That's awesome - now I have to ask one follow-up question. I normally don't do this. I know, lucky you, right? Give us some advice on filtering - because normally entrepreneurs are sort of ADD all over the place and that filtering can be a little difficult, so do you have one tip for being able to filter a little bit better?

Andrew: I think you need to understand what's going on in your market. You really need to be passionate about it, even if you're what I call the entre-vestor where you're not living the day-to-day, you're kind of guiding a business and being involved in a less dirty way. You need to understand what you're involved in. if someone gives you information that's wrong, like I was talking to someone yesterday about agricultural land prices in another province in the Philippines and this person gave me information that was flat out wrong, like it's 1,000 pesos per square meter when actually it's 5,000 pesos per square meter, so now you're filtering out a lot of that information, but when they said "Here's a good business," and I ask them why, I take that not as them being an investor but as them being a consumer, the things that they want, so I can funnel that through what other people have told me, what other people have said they want. I think having as many sources as possible helps you to be a better filter. It kind of filters itself out, almost.

Jaime: I like that answer, that's awesome. Thank you so much, Andrew. Where can we find out more about you online? I know you have a radio show, so we can check out a whole bunch more information if you want to dive into this, so tell us where we can find out more about you - on Twitter, Facebook, your site, all of that fun stuff.

Andrew: We're NomadCapitalist.com, we are on Facebook and Twitter and all of that. I put up new stuff pretty much every day at NomadCapitalist.com, we've got some interesting lists, I know that we did an event with Bobby Casey and a lot of other guys talking about this for three days in Las Vegas, so they can find that at the website as well, and go through months and months and months of information on starting a business but also on finding more freedom, politically and in a lifestyle sense as well.

Jaime: Thank you so much for taking the time to be here today, Andrew, especially at midnight in the Philippines. I really appreciate it. Have a wonderful day.

Andrew: My pleasure, Jaime.

Jaime: So what do you think about that interview with Andrew? Do you agree with him? Do you disagree? Go to EventualMillionaire.com, go to the blog and make sure you comment - what did you think? Did it give you new ideas? Do you want to start a new business in another country? Or are you looking to stick with the United States? You tell me - I want to know what you think. Go to EventualMillionaire.com/Andrew-Henderson or check it out on the blog. Stay tuned and let me know what you think. Take care; bye bye.

Announcer: Thanks for listening. You can find out more great information like this on EventualMillionaire.com.

Tags: Andrew Henderson, global business, millionaire interview, Motivation, Travel, Work Life Balance

Categories: All, Business, Business Model, Entrepreneurship, Millionaire Interviews

Hi I’m Jaime. Each and every week I bring you the top business advice from the people who know best.

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