International Payments/Niche


Hello Brooke and coaches! I’m coming to training in May and have been working on my niche, 2018 Impossible Goal, and SCS homework this year (left my corporate job at the end of last year). I know there are only a couple weeks until training, but I had a couple niche questions surface this week and don’t see a reason to wait. My B- niche wording is Korean students here in the US (so they speak English well enough since I don’t yet speak Korean well enough) going to school, and they are consumed with worry about their future job (due to Korea’s high unemployment rate) so they aren’t able to study as effectively as they could without the worry. I’m a host mom for Korean international students, so my niche isn’t dealing with the same problem I’ve overcome. I’m reading Expert Secrets, and it says people usually coach on a personal triumph, but didn’t say it was required. My 2018 IG was to move to Korea to start this business, but I recently gained a better understanding in the wording of what’s required to get a visa, and I believe I either have to start there with $1M, have a Korean partner (and then I’m only able to stay 3-5 years), or get married to a Korean citizen.

I’m not able to open a Korean bank account without a visa. I haven’t yet found a payment processing method that is efficient and has low enough fees for receiving payments to my US bank from a Korean bank (with Korean currency); this would be if I stayed in the US and kept the same niche. I posted this question in the last business call and was referred to posting it here. What payment processing system do you use that works internationally, and is it recommended for starting coaches? I’m in the process of figuring out how students here make large payments online (in the range of a coaching package). I’d originally decided my niche (and their parents) were willing and able to pay, but I didn’t add “in currency I can receive” to the end 🙂

Another niche research question I have is about what they would Google about solving their problem. I asked the boys I host if they use Google, and they use Google, a Korean equivalent, and Facebook. In my anticipated cognitive dissonance phase after learning about the visa and payment stuff, my brain has been questioning the viability of this niche; I’m watching it happen, and rationally using the questions for business purposes! When you ask what our niches would be Googling, do you mean it literally, or are you just using it as a metaphor to help us in wording FB ads? When I thought about this more, my niche is going to be searching for solutions to their problem in Korean. I’m sure Facebook ads can handle matching my ad in English to my niche, and they’ll see my ads in their feed and read/click it. But, they aren’t going to be searching in English; is this a “problem”?

One other possibility if the payment system works internationally, when you conduct any business outside the state of Texas, are you still taxed from the state of Texas? I know this varies from state to state (I’m in Tennessee) and I’ll check with a tax person here, but I’m wondering if I could “vacation” in Korea and keep my residency here in TN for tax purposes.

Above was the business part, but I want to say that all the self-coaching I’ve done in SCS related to business (joined SCS Oct 2017)…it’s all been FOR me and I have ZERO regrets even if everything I’ve done toward my niche will not result in this specific niche!!! I feel “clean” about the way I’m thinking about this niche and the alternative that I immediately had when I came across the visa requirement online. I’m watching the discomfort, cognitive dissonance, confirmation bias, and am still taking massive action and doing my fails. I’m staying open and aware. I won’t be making any decisions out of fear…no drama, just data. Thank you for all your value and your example of what’s possible 😀

Question recap outline:
How are you taxed when you’re on vacation outside of TX?
What international payment processing system do you use/recommend?
Do you recommend a niche that has a problem we’ve personally solved for ourselves?
Does our niche have to be Googling their solution/problem in the same language we use for our ads/program?

Thank you!
Nicole Wrage