🐧 2024 Business Looking Ahead

INSIDE: Year 2 vision, strategy, goals
January 7, 2024

Happy 2024! It’s going to be an exciting year ahead 🥳 

Today, in 10 minutes or less, you'll learn:

  • 2023 Recap
  • 2024 Vision
  • Strategy
  • Goals

FROM OUR PARTNERS

🌏️ Hire internationally without the hassle

Your business is growing, and it’s time to hire. ✅ 

BUT hiring internationally feels scary. 😱 

You have to manage international payroll, taxes, and laws, which slows things down. Plus, making mistakes is expensive.

If you’re tired of stressing about staying compliant, then don’t fear.

Deel makes this global hiring easy. They’re the all-in-one platform that makes it quick and easy to hire and manage talent globally.

Learn more and book a demo here.

🗺️ 2024 Business Looking Ahead

Today, I’m sharing my entrepreneurial vision, strategy, and goals for 2024.

Before we dive in though, let me first recap my lessons learned from 2023:

🪞2023 Recap

For the past 10 years, I’ve been building and growing products across Silicon Valley, Singapore, and Southeast Asia. I’ve worked as a product leader and PM for public companies (Dropbox) and growth-stage startups (Xendit, Creativelive).

I left my full-time job managing a team of 10 PMs and started two businesses: 1/ fractional product leadership 2/ Money Abroad newsletter

My first year running my own show has been a rollercoaster ride.

Highlights

  • Grew from 0 to over 5,000 newsletter subscribers, 5x’ed my Linkedin followers, launched our Webflow website, and been featured by global brands.
  • Nearly hit my revenue goal of US$10,000 in a month (across newsletter + consulting).
  • Monetized the newsletter with our first course beta program (38 paid students) + US Expat Tax Service (~5 referrals/mo).
  • Built a content engine that consistently delivered high-NPS content.

Lowlights

  • Fell short of our newsletter growth goal of 10,000 subscribers.
  • Didn’t crack the code (yet) for some of the other monetization experiments.

Lessons

  • Building an (online) business is a mentally grueling marathon. You must stay laser focused, lean into what energizes you, and find your tribe.
  • Consulting and coaching are challenging to scale-up.
  • Differentiate in the market by sharing personal stories and a “spiky point of view.”
  • Build a value ladder or different tiers of products for different customers.

Didn’t see my business annual review? Go here.

Looking ahead, here’s what I’m thinking about for 2024:

🔮 2024 Vision

By the end of the year, I envision laying the foundations of a long-term portfolio of thriving businesses, including a B2B commercial service (new), product consulting, and Money Abroad as a media platform.

♟️Strategy

Drive 50% of revenue from non-consulting income streams.

Consulting and coaching can be rewarding and lucrative, but difficult to scale-up. Over the next 12 months, I aim to replace a portion of my service income through a combination of affiliates, courses, and business cashflow.

🎯 Goals

Acquire a B2B commercial service and build it to last forever.

Over the next 6-9 months, my wife and I are looking to buy a B2B service companies with solid customer satisfaction, but lacking operational or online marketing excellence in US states like Texas, Georgia, or Michigan. Examples of B2B services: financial services (accounting, tax), IT services, commercial cleaning, training, health and safety.

Why? In short, we believe there’s a lot of risk in starting new ventures. Execution risk, team risk, etc. As I mentioned in my 2023 review, it’s mentally grueling. Buying, then building, helps to mitigate risk substantially with the right business. We’ve done a fair bit of research and talked to a few industry folks. Now we need to test our hypothesis against the market. So if you have any leads, please email me. 🙏

Unlock more growth on a video-based platform like Youtube or Tiktok.

For Money Abroad, 2023 was all about writing. 2024 will be all about adding video to the mix. Fincon made it clear to me that video is the future for reaching my audience in the money niche. As I mentioned in my learnings last year, I strongly believe sharing my personal stories and “spiky point of view” will be critical to differentiate in the market. As much I love written content, video is a more powerful format for sharing these stories and perspectives.

Launch the Remote Side Hustle Profits course in the spring

After finishing the beta program, I look forward to launching the full course to a broader audience. I’m still debating whether to offer it as an evergreen course or as a cohort-based course once every 6 months. Right now, I’m leaning towards the latter to offer two plans: 1/ on-demand content only and 2/ on-demand content + peer-based cohorts.

Last year, I also thought a lot about how to design my value ladder. Creating courses will be a key first step to building out offerings for different tiers of customers.

🌐 Beyond your borders

🇰🇷 South Korea introduces a 2-year digital nomad visa. Yes, you can now finally gorge on bbq and hot pot, catch your favorite k-pop idols live, all while working remotely for over a year. Dreams do come true. (link)

📽️ How to make 2024 the best year of your life yet. For the annual planning nerds, here’s three more planning & reflection exercises. Wheel of Life is one of my favorites (link)

🇸🇬 MoM releases the highest demanded jobs for 2024. You see the usual suspects like software developers and sales, but I noticed a couple roles that surprised me. Which ones surprise you? (link)

📆 How I can help

That’s all for today!

Whenever you’re ready, here’s how I can help you:

1. Work with my tax team - Get personalized guidance from a US expat tax professional.

2. Sponsor this newsletter - Get in front of over 5,000 professionals and business owners in the US and Singapore.

For daily insights, follow me on X (@dexteryz) or Linkedin.


If you liked this post, you'll LOVE my newsletter

Every week, get a free actionable strategy to help you build wealth overseas:

Dexter Zhuang

Dexter is the founder of Money Abroad, a website focused on financial independence for professionals abroad. He has 10+ years of experience building products and teams at companies like Dropbox, Xendit, and startups. He's lived and worked across the US, Asia Pacific, and Latin America. His work has been featured in global publications like Business Insider, CBS, US News & World Report, and Tech in Asia. He graduated from Dartmouth College.

Continue reading

🐧 Ultimate Guide to Semi-Retirement
Financial Planning

🐧 Ultimate Guide to Semi-Retirement

Why 2020's are Different, My Money Journey, Why Semi-Retirement, How to Calculate Your Semi-FIRE Number, Downsides
🐧 The Fear Compass: 4 lessons on fear in decision-making
Personal Development

🐧 The Fear Compass: 4 lessons on fear in decision-making

My Journey, Truth, Friendship, Courage, and Margin of Safety
🐧 Fractional job search | Taylor Crane
Career

🐧 Fractional job search | Taylor Crane

INSIDE: Poker Player to Fractional Head of Product, Fractional Job Search Mistakes and Tips

Search

Enter keywords and click search.