When was the first time you heard term “lifestyle business”? When I went to business school, nobody talked about lifestyle business. They were talking about large companies, extraordinary success stories, like Microsoft, Starbucks, McDonalds, Wall Mart and other giants or genius businesses. Now they talk about Google, Facebook and Apple.
But it doesn’t help when you are just tired from going to the office every day and hate vacation day counting tables (we had one in my company – it was depressive to see “9″ or “11″).
I found the term Lifestyle Business just after I had lived in it for three years. There are several definitions in different resources. And if you try to google this term, most probably you will soon find negative, biased or even stigmatic attitude towards it.
In my opinion it is the best form of business for somebody who just wants to live as she or he likes, who wants to be free. Here is my definition:
Lifestyle business is for supporting your lifestyle. It means that Lifestyle comes first and only then Business. You don’t have to rearrange your life according to business. It happens vice versa.
Lifestyle business is for financing your lifestyle. And in most cases it doesn’t mean buying a yacht. So, in most cases it is a small business. It can grow into a big business, if you want. Then it will require more attention and time, but you can always delegate some of your responsibilities.
Lifestyle business reflects your lifestyle. It means that you are doing what you really love. You earn money doing things that are reflecting your personal values, beliefs and thoughts. You don’t have internal fight – if it is right and whether I should really do it.
Lifestyle business is still a business. With all the attributes any business has. That’s why your experience in other businesses is very useful. Rules are more or less the same in any form of business.
Lifestyle business is thinking small. You have to be just a little bit better and if you can perfectly solve a problem for a small group of people, then you can build a nice business around it.