Now that we
can create purely Internet based businesses the “entrepreneurial game” has
changed and is creating a question that all entrepreneurs have to ask
Do you want
a “Startup or a Lifestyle Business?
First off, lets
define what a lifestyle business is;
A lifestyle business -
is a business set up and run by its founders primarily with the aim of
sustaining a particular level of income and no more; or to provide a foundation
from which to enjoy a particular lifestyle.
to go on record and say that the definition has changed, the part about limited
income, thanks to the Internet, is now wrong.
business is a business that gives you the freedom to enjoy your lifestyle of
choice. But without limit on income, just like any other business, the sky’s
the limit. You just automate to maintain freedom of time."
both Startups and Lifestyle businesses and consider myself a digital entrepreneur.
Though the idea of my own Startup was what got me started in business in the
first place. The reality after 7 years was not as I imagined…
You see, I
happily traded working hard for someone else, to working twice as harder for
myself. Something anyone who's a true entrepreneur will understand, working 70-80
hours a week for yourself is better than working 45 hours a week for someone
is freedom! The freedom to choose how, when and what you do with your time and
business. If I want to take the morning off I will, I'll just make it up later,
because I can.
But at some
point you want to reclaim your time and unless your Startup makes crazy
profits, or you sell it, chances are you've got to put the hours in.
But if freedom
is the aim, why do most entrepreneurs create Startups?
Lifestyle Business you can automate as much or as little as you like, work as
much as you like and work anywhere you like! You have complete freedom.
I took the
long route to get to this point, but now I can truly say that I'm a digital
entrepreneur and focus on Lifestyle businesses. What's best is that I have the
time to really be an entrepreneur. You see I now have the time to be creative
and go off on whims, working as much or as little as I like on a project. Something
you can't do if you're managing a Startup.
If I had to
start things over, I'd choose a Lifestyle business every-time. You see a
Startup is about going big and sacrificing your time now, so that you can
(hopefully) enjoy the rewards at the end. Basically go big or go bust!
lifestyle business is about enjoying the journey and if it goes big, then
great, so long as it truly gives you freedom to live.
You need to
decide what you’re doing it for? If you love the buzz of building up a business
and thrive on the stress and hustle that the “all in” life entails. Then a
Startup may be for you.
you love the freedom and creativity, of working for yourself. Then a Lifestyle
business may be the way to go.