You’ve always dreamed of owning your own business. The freedom to be your own boss, and the opportunity to create the life you’ve always wanted. You know you’d be a huge success.
But you don’t have 90 hours a week to spare.
Maybe you have a young family, and want to stay at home with your children. Maybe you want to travel, and don’t want to commit to a long-term job. Maybe you don’t want to live for work, but want to work to live. It doesn’t matter why you want a lifestyle business, only that you can design the perfect job for yourself.
Here’re three steps to help you build your own perfect lifestyle business:
1. Don’t Judge on Profits Alone
The term “lifestyle business” is one that is created specifically to support the owner’s personal and income requirements. It’s not created with a “profits above everything else” mindset.
George Cloutier, author of Profits Aren’t Everything, They’re the Only Thing, believes profit is the only reason to start a business. While there can be no business without profit, the driving force behind a business doesn’t need to be financial. A true lifestyle business isn’t black and white. It’s not huge profit or failure. It’s about finding a balance between living your dreams and being financially secure.
Yes, you need to make enough money to cover your bills. But that doesn’t mean you’ll sacrifice your happiness to make more money than you need. Always judge on both profitability and how close you are to living your perfect lifestyle.
2. Don’t Reinvent the Wheel
When you’re starting your new business, you may feel like you’re discovering new, uncharted territory. However, business is not new. There are many business owners who have been right where you are – trying to make their entrepreneurial dreams come true.
Whatever problem or challenge you might face creating your lifestyle business, someone else has likely experienced the exact same thing. You could spend hours, days or weeks trying to create the perfect business plan. Or you could learn from others mistakes.
Regardless of the industry, you can find a guide or mentor that will help you succeed. If you want to start a freelance writing business, try Carol Tice’s The Step-by-Step Guide to Freelance Writing Success: How to Break In and Start Earning – Fast. If you want to sell your own natural holistic products, read Start Your Own Herb and Herbal Products Business from Entrepreneur Press.
Your goal as a lifestyle business owner is to work smarter, not harder. You don’t have to blaze a new trail or start completely from scratch. Find an expert in your industry, and learn from them. By embracing a mentor, you can avoid common mistakes and create a stronger business from day one.
The key is to learn from others – not to reinvent the wheel.
3. Make it Your Own
I know I just said learn from others, but…
Some people don’t get lifestyle businesses. And that’s okay. They will call you a stay-at-home mom or a part-time business owner. It’s like you can’t be both at the same time. Or maybe you’re a loser who has a lot of potential you’re not using. You coulda been the next Wolf of Wall Street…
It’s just that they don’t get it.
Make your business make sense to you. It doesn’t matter if anyone else on the planet understands. You get it. Forget the doubters and make your own path. Build your business your way.
This means you can work from midnight to 6am if that works for you. You can work at the beach, cafe or a bar. It means you get to define what your business looks like.
It’s all your’s baby!
Entrepreneurship Doesn’t Equal Sacrifice!
Your priorities may be your family, traveling, or finding time to volunteer. The concept of a lifestyle business is to create a business that supports your unique goals and dreams. Working 60 hours a week on a business is stressful and frustrating. Plus it puts a huge strain on your health and wellbeing.
The key to creating a lifestyle business is to develop time-saving strategies and systems so you don’t have to work your fingers to the bone. It’s about making smart choices, and designing a business that supports your personal needs.
If you want to run a successful business, and live a well-balanced life, you can create a business designed to fit your unique situation. With the right strategy, tools, and support, you can truly create a successful business without sacrificing any aspect of your life.