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This week I got to interview Michael Bodekaer, on how you can build an amazing business with like-minded startups and entrepreneurs through coliving and collaboration.

He is the founder of Liv.it, a tech startup ecosystem that builds amazing businesses by providing specialist resources, business knowledge, creativity and inspiring spaces to startups.

Michael also the creator of Project Getaway , where I got to speak to the participants last year on how to create mobility in their businesses, and I absolutely loved the concept behind coliving and collaboration to build your business.  Over a period of 30 days, 20 adventurous entrepreneurs live and work together in an inspiring and luxurious location to combine success, adventure, and a balanced lifestyle.

That is definitely my great recipe for a great experience that combines work and play!

In 2009, Michael quit his management consulting job to explore the life as an entrepreneur.  In 2010 he decided that he needed some new inputs and inspiration for his new life as a lifestyle entrepreneur, so he did some travelling to explore what he wanted to contribute to the world as an entrepreneur (we talk more in the video about how he found his passion and meaning behind his work).

Through his own journey, he saw that being successful in business means not being alone, where a lot of entrepreneurs suffer with when they first start their business, and out of the “team environment” of what they’re used to in the corporate world.

And that was how Project Getaway was born.  Through Michael’s own reasons to want to be part of communities and like-minded people that can help him further his dream, and to be inspired by others’ ventures.

Watch my video interview with Michael below to hear more about why he took the leap from a secured high paying job, and what he learned along the way of discovering work he loved and building a thriving business through co-living and collaboration with others.

 

 

What was the first major step he took to start his business?

For Michael, he started with analyzing his ideas.  In order to see which ideas has “legs” to move forward with, he started to discern those ideas by ranking the following for each:

  1. Am I passionate about it?  Is it exciting and does it have an impact?
  2. Do I have unique skills that I can apply to this idea?
  3. Will it be profitable?  Can I make money on it?

He would then rank all of these parameters and receive a results from each based on his analyzation on importance of each question to him.

He also researched industries to gauge if his ideas were feasible and sustainable, and if they had the opportunity to be a success.

Michael believes that having passion for an idea is VERY important, and he even regrets not putting that at a higher ranking scale when he first discerned his ideas.  His thought is that passion today because it’s that fire that’s going to keep you going in the longevity of a business.

This way you’re not wasting any idea, but you are weighing the options fairly for yourself.  If your ideas cannot be of value to others and can be monetized, you have a hobby, and not a business.

The big question you should ask yourself with your ideas:  Which ideas can I do today based on what I’m equipped with to solve the problem my idea solves.

 

Michael Bodekaer
 

How will co-living benefit startups or help existing business spark bigger and more impactful ideas?

When you can find like-minded people to collaborate with together, your ideas can get bigger.  You can tap into each other’s knowledge, skills, and network.  Being able to build relationships with people who are at the stage of business or life that you admire, it’s extremely motivating to be around people smarter than you and doing things you want to do.

When we don’t have an “office” to go to, it’s natural to miss being in a team and being able to bounce ideas off other people.  Because of amazing projects like Project Getaway, it’s now very possible for you to sign up for a week long or month long experience where you can be immersed with activities, learning, collaboration, and fun!

Partnerships can be formed with other people on projects, and being able to live with these potential partners are a great opportunity to really get to know the individual.

As Michael says, when you’ve had an opportunity to be part of a coliving experience, there is a bond that can be formed with people you meet that can help mentor, support, and inspire your next actions needed for your dreams.

 

How is the future of work is changing?

It’s no surprise that there is an awareness happening globally that happy people do good work, and are inspired to be better.  This applies to both entrepreneurship and corporate entities.

The future of work can include entrepreneurs, but people are craving more than just flexibility and location-independence.  There is also a real craving of meaning and purpose to be infused in the work we choose to do or build as a business.

There are organizations and corporations out there that allow more flexibility and collaboration with their employees, and if being an entrepreneur isn’t your ultimate dream, you can still find more meaningful work and be of service in organizations that share common values and a way of working as you do.

And if being a creator and having more creative control over your work is of the utmost importance, start thinking about how you want to contribute to the world with your work.

Ask:  What are the biggest problems in the world that I can help solve with my skills?

 

Project Getaway in Bali
 

Where can you build an amazing business through co-living and collaboration?

It’s no secret that I am an advocate for living and building your business abroad.  Not only because it’s fun as hell, but you’re receiving great benefits like:

  • Less financial pressure for living expenses as countries like Thailand and Indonesia offer great living for cheaper (I’m talking 1/4 of what you will spend in western countries)
  • The access to like-minded people to network and collaborate with
  • Seeing new perspectives and new ideas from travel and meeting new faces
  • Being inspired and energized from mixing more pleasure and exploration with working

Some of my favourites that were mentioned in the video are Hubud – my 2nd home and co-working space I use in Ubud, Bali, and co-living opportunities like Project Getaway, a 30 day experience to live, work, and play with other startups and entrepreneurs.

Look for co-working spaces globally that have a culture and a way of connecting you to the tribe of remote workers, entrepreneurs, and startups that you’ll love.  Check out NomadList to research places in the world that are great hubs for online/remote workers and businesses.  Click on the “Places to work” tab in each city that will let you see the best co-working spaces in that area.
 

Interested to learn more about Michael’s projects and his mission to help startups and spark new entrepreneurship ideas?

You can find out more and also reach out to Michael at:

His projects at Livit

Learn more about how you can join and live with other startups and entrepreneurs at Project Getaway

Find him on LinkedIn

Tweet him

 

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