A lifestyle business is not in any way similar to a start-up business. It is pursued by the owner with the simple aim of sustaining a specific level of income which he/she thinks can ably support his/her desired lifestyle. In effect, the aim is not focused on reaching number figures as to sales which start-up businesses are identified with. Rather, the emphasis is placed on allowing the owner to lead the life he/she chooses.
In a manner of speaking, lifestyle business owners make their business adjust to them instead of the other way around. Start-up business owners realize soon enough that the freedom they initially thought would be theirs is just a dream as they work harder than ever, sometimes even more than their employees just to meet financial goals. Lifestyle business owners wish to avoid this by merely aiming for an income that can support them and nothing more.
A lifestyle business owner is almost always responsible only to himself, having no employees to think about. Often, they also do away with permanent business locations that will entail payment of rent and utilities. Lifestyle business owners typically choose a type of business which they can operate anywhere.
Lifestyle business owners, in choosing this type of business, must be able to accept the limitations that go with such choice. Most do since they wouldn’t consider pursuing such a lifestyle or business. These business owners value their freedom so much in pursuing their chosen lifestyle that they are willing to sacrifice the financial side. One important thing to consider though is that investors are not exactly keen on joining such business ventures.
About the author:
Teresa handled two family businesses before deciding to write full time.