What Is A "Lifestyle Business"?


A colleague posted this as a way to drum up interest in a conference he was putting together. I took a long look at it because it hit me close to home. In all honesty, I used to believe it. That “lifestyle business” meant that the business owner had given up on being an entrepreneur and had settled into ‘owning a job’. I’d bought in to the mentality that you always have to be hustling, selling and otherwise putting in crazy hours in order to be successful.  But then it hit me - what if my definition of success was different from everyone else’s? As you know from last month’s newsletter, my son has some medical needs that I need to help attend to on occasion. And as soon as he was old enough to understand, I promised him that I’d be there for every one of his surgeries. 40+ surgeries and procedures later, I’ve never broken that promise. But I also need to be present, as much as possible, for my family. Those are critical to how I define “success”. But if I adopted the ‘always be hustlin’ mindset, I might have more of some things - but a lot less of the things I need to be successful. I LOVE supporting my clients’ businesses and contributing to their success. It’s one of the most fulfilling parts of my life. But. . .my business supports my life and my dreams - not the other way around.

So what if we flipped the definition of “lifestyle business” a bit and said - 

Lifestyle Business: A business set up and run by its founders primarily 

with the aim of sustaining their personal definitions of success.

I’d love to get your thoughts on this. Drop me a line at feedback@wildfrog.net