The $1.7M Business Nobody Wants to Talk About

Bo co-founded Saving Nomad, a business that helps US citizens living abroad navigate state tax residency and domicile issues. The company does $1.7 million in annual revenue with $140,000 in monthly recurring revenue, serves over 1,400 customers, and has saved clients roughly $10 million in state taxes. The entire operation runs with just six employees.

The origin story is straightforward. During the war in Ukraine, Bo was reassessing his life and moving toward an international reality. While building a previous venture in the digital nomad tax space, he kept noticing that Americans were the largest and most undersourced group. Meanwhile, his co-founder met surfers from California who had been living abroad for years but were still stuck paying California state taxes. That recognition of a specific, painful problem became the seed of the business.

Why a boring niche worked

Bo identifies four reasons the business succeeded where sexier startups often struggle.

First, low competition paired with real demand. In flashy markets, many talented founders chase the same problems. In unsexy categories, the ratio of opportunity to competition is dramatically better. As Bo puts it, "We had real demand with almost no competition."