Doing Business Overseas Part 2
Learn how to invest your IRA or 401k into a franchise penalty-free. ($50k min)
6. Hedge your bets. Offset the risks of travel with
adequate insurance. Traveling may be expensive, but insurance to
protect you and your business in case you get sick on the road
generally isn't. Figure on spending about $100 per year for the
most comprehensive coverage.
Insider tip: Insuring your entire company or family is often cheaper than buying coverage for an individual.
7. Get your shots. This will keep you from getting sick
on the road and having to use that travelers' insurance.
Researching a country's endemic diseases is extremely important
because certain immunizations require more than one dose to ensure
effectiveness. Travelers should allow at least 30 days before their
trip to secure all necessary shots or medications.
Insider tip: If you've never been a frequent flier, it's a good idea to see your doctor for a checkup, even if you're traveling to a well-developed country.
8. Pack like a pro. If you're going to live out of
your suitcase, at least make it livable. Buy a durable carry-on
bag, and invest in industrial-strength luggage. Never put all your
important travel documents in a single bag; spread the risk among
your entire luggage.
Insider tip: Stuff your socks in your shoes. It conserves space.
9. Stay sane on the plane. Don't board a flight
without the following items: a carry-on bag packed with a sleeping
mask, earplugs, saline solution (if you wear contact lenses),
moisturizer, lip balm, pain reliever, bottled water, a snack and,
of course, something to keep you busy (a book or paperwork). Drink
lots of fluids, and stay away from caffeine and alcohol. They both
Insider tip: Try noise-canceling headphones. They really work.
10. Behave. International airlines are cracking down on
passengers who misbehave. And there are discussions of limiting the
number of alcoholic drinks served to passengers.
Insider tip: Book a seat next to the bulkhead, where there's less chance of an in-flight incident.