For many, travel is a getaway, but for some it is the arrival — an experience that can profoundly shape how you, as an entrepreneur, can think, create and lead. In a world where globalisation is the way of life, entrepreneurs who have immersed themselves in different cultures, markets and environments possess unique competitive advantages over their peers.
Travelling offers valuable insights that extend far beyond business textbooks. You acquire skill sets that can supercharge your entrepreneurial journey and success.
So here’s why global exploration makes better entrepreneurs, and how the benefits of travel are bound to translate to long-term growth and innovation:
1) Building Cultural Intelligence
Understanding cultural nuances is vital for any entrepreneur operating in a global economy. Travel exposes business leaders to diverse perspectives, customs, values, and traditions. When you engage with locals, experience new ways of life, and learn the intricacies of different societies, you sharpen your cultural intelligence (CQ). A high CQ allows entrepreneurs to connect with international partners, clients, and teams more effectively.
And there’s no better example of having an astonishingly high CQ than Richard Branson, the founder of Virgin Group. He is celebrated for his extensive travels around the world and cultural immersion. Branson’s adaptability and keen understanding of varied market needs are partly a result of his global experiences, which have helped him tailor Virgin’s offerings to different markets worldwide.
2) Enhancing Problem-Solving Skills
Travelling often presents unpredictable challenges—language barriers, missed flights, logistical mishaps, or unfamiliar environments. Successful navigation of such obstacles sharpens problem-solving abilities, a critical skill for any entrepreneur facing unexpected hurdles. Dealing with unfamiliar situations encourages quick thinking, creative solutions, and resilience.
Sophia Amoruso, founder of Nasty Gal and Girlboss, has attributed a huge part of her entrepreneurial grit to her solo travels. The adaptability and independence she developed by venturing into new territories and uncomfortable experiences translated into her ability to steer her company through both success and setbacks.
3) Developing a Global Mindset
Entrepreneurs who travel widely gain a global mindset—a holistic understanding of international markets and their interconnections. This mindset is crucial for identifying emerging trends, accessing new markets, and collaborating across borders. Exposure to diverse economies gives travelling entrepreneurs a broader view of the global business landscape.
4) Expanding Your Network
Networking is critical to business success, and travel opens the door to a world of connections. From international conferences to industry meetups, every new place offers potential partnerships, collaborations, and friendships. Building a global network gives entrepreneurs access to insights, resources, and opportunities they might not have at home.
Networking on a global scale has benefitted countless entrepreneurs such as Ritesh Agarwal, the founder of OYO Rooms. As a young traveller, he interacted with numerous hoteliers across India and beyond, gaining invaluable firsthand insights that eventually created OYO’s scalable business model, making it one of the largest hospitality chains in the world.
5) Gaining Inspiration and Creativity
Experiencing different places, cuisines, traditions, and ways of life can spark fresh ideas and ignite creativity. Travel disrupts routines, exposes new sights, sounds, and stories, and provides the mental stimulation that fuels innovation. This burst of inspiration often leads to unique business concepts, innovative approaches, or even a reevaluation of existing business strategies.
Tony Hsieh, the late CEO of Zappos, found life-altering inspiration during his travels. He was known for emphasising customer happiness and community-building—values partially shaped by his observations and experiences in various cultures. Hsieh’s globally-inspired ideas laid the foundation for Zappos’ culture of customer obsession.
6) Increasing Empathy and Emotional Intelligence
Travel cultivates empathy by allowing you to step into other people’s shoes. Observing different living conditions, interacting with diverse individuals, and engaging in unfamiliar social norms can deepen your understanding and appreciation of others. Entrepreneurs with high emotional intelligence (EQ) often excel in building genuine connections with customers, colleagues, and partners, leading to lasting business relationships.
Blake Mycoskie, founder of TOMS Shoes, was inspired to start his company during a trip to Argentina, where he witnessed the hardships faced by children without shoes. This experience not only led to the company’s one-for-one giving model, but also fostered empathy as a core value driving the brand.
7) Cultivating Adaptability and Resilience
Travelling often involves adapting to new environments and embracing discomfort. For entrepreneurs, this adaptability translates into resilience when facing business challenges. Successfully operating across different markets requires a mindset open to change and an ability to pivot strategies when necessary.
Adaptability is exemplified by entrepreneurs like Indra Nooyi, the former CEO of PepsiCo. Having lived in multiple countries, Nooyi demonstrated an uncanny ability to lead PepsiCo’s global expansion and transform its product offerings to align with cultural preferences.
Travel and change of place impart new vigour to the mind.
– Seneca
