Lifestyle entrepreneurs decide what kind of lifestyle they want and build their business to support it. This is different than how other entrepreneurs work. They first put their business first, then plan their lifestyle around it.
Lifestyle entrepreneurs place a lot of emphasis on freedom, such as being able to work a certain number of hours or travel as they choose. They might want to make enough money to support their lifestyle. They may not be as focused on growth as other entrepreneurs.
How Does a Lifestyle Entrepreneur Work?
People have always found a job and built their lives around it. Lifestyle entrepreneurs do the opposite. They build their business around their lives. Although their businesses are profitable, the money they make is used to support their passions, hobbies, interests, goals, and dreams.
Home businesses have been around since the beginning, but the internet has made it possible to create and manage a global business from anywhere on the planet. Even if you’re not traveling, this is still possible. The lifestyle entrepreneur can work from anywhere with the help of laptops, smartphones, cloud computing, and laptops.
Natalie Sisson, author “The Suitcase Entrepreneur”, created a business to support her passion for travel. She offers coaching and information products for entrepreneurs who desire to travel freely and live an independent life. She runs her business using her smartphone and laptop. This allows her to travel freely while still pursuing a life she loves.
How to Become a Lifestyle Entrepreneur
You will need to map out a strategy for your success as a lifestyle entrepreneur. These steps will show you how to do it.
Choose the Lifestyle you Want
First, you must determine the lifestyle that you want your business to be built around. The following questions might be helpful:
- What are you looking for in your life?
- What are your passions?
- Are you looking to travel while working?
- Are you looking to make enough money to help a greater cause?
- Pinpoint your Passions
What are your passions? You might be able combine your passion with your business in some cases. You might be able build a lifestyle around your passion for food and travel.
Brainstorming Ideas that Align with Your Passions
There are three main ways to make money: selling your skills, selling physical products or selling information.
You can use your passions to brainstorm business ideas that make money. If you are passionate about gardening, there are many ways to make money. You can sell gardening tools (physical items), start a landscaping business, or teach gardening classes (information).
Explore Your Ideas
Take a handful of the top ideas you have and find out if they can help you make your life what you want. They shouldn’t give you the freedom to live the lifestyle you desire, as outlined in the first step.
Also Read: career transition what it really means
You should also consider portability (if your goal is to travel), flexibility and income potential. It is also important to find out if your ideas are being sold.