The Perks Of Running A Successful Lifestyle Business

With the number of people attempting to become famous bloggers, vloggers, or Instagram celebrities, it is clear that the concept of a lifestyle business is becoming more and more common. However, the phrase ‘lifestyle business’ is bandied about so much but the concept isn’t always clearly defined. We’re here today to talk about what a lifestyle business actually is. We’ll go on to discuss the real perks of choosing to run a lifestyle business, as opposed to a startup company. Bear in mind that this way of working isn’t for everyone!

Read on and learn the perks of running a successful lifestyle business.

What is a lifestyle business?

A lifestyle business is a company which you found that works around what lifestyle you hope to achieve, rather than around profit margins. In a startup company, you have the aim of making X amount within a certain period. With a lifestyle business, you have more freedom. Aims can be simpler like ‘I only want to work three hours a day’. The concept gives you a lot more room to manoeuvre rather than starting a company that will just bring you back to the 9 to 5.

How does it compare to a startup company?

The main difference is in the company’s goals, as mentioned above. It is all about the objective that the founder wants to achieve. In the simplest terms:

“A startup’s job is to grow big enough to provide a return to investors. A lifestyle business’s job is to provide a great quality of life to its owners” – Fizzle, 2011

With both companies, you can have employees, overheads, a salary, etc. The difference is, that in a lifestyle business everyone is working to improve their lifestyle. Working from home, or working while travelling is very common.

Benefits of running a lifestyle business include:

There are so many personal benefits to running a lifestyle business as opposed to a startup company. These benefits include:

• The cost of starting the lifestyle business may be very low. All you need to really begin is a hosted domain and website. Get your social media channelling to your blog or products and you’re off!
• You will find yourself with far less work-related stress. Being able to choose your working hours and your won deadlines will have you feeling more relaxed and it will be easier to ‘switch off.

• The level of flexibility you have is astounding. If you want to go on holiday, you can! You can work from anywhere in the world with an internet connection.
• You get to choose your clients. In some startups, you have to take any clients you can get in order to make that desired profit. This can lead to troublesome clients or tasks that are not worth your time.
• It’s great for families or those with health problems. Pregnant or nursing? No need to worry about taking time off or having to run from the office to be sick. You can work from the complete comfort of your home.