Five Awesome Tips to Become a Lifestyle Entrepreneur
What came first, the lifestyle or the career? It’s an age-old question, and some people answer it by becoming a lifestyle entrepreneur. If your goal in creating a business is to do something that you love and are passionate about, you might be able to consider yourself a lifestyle entrepreneur. This article goes into more detail about what this type of entrepreneur is and five tips you can follow to get started as a lifestyle entrepreneur.
A lifestyle entrepreneur is an individual who creates a business for the purpose of changing their lifestyle instead of making profits.
This type of entrepreneur usually wants to create a business because they are passionate about it and believe that it will be personally rewarding for them. While it’s always possible that the business the individual creates will eventually become successful because of how passionate the entrepreneur is, this success won’t be brought about because of a focus on obtaining profits.
Lifestyle entrepreneurship allows you to live and work the way you want.
And you can use your to make money that doesn’t require you sitting in a cubicle 8+ hours each day. Becoming a lifestyle entrepreneur gives you room to breathe. Control over your work environment and those around you when doing the work. Office politics and small talk are things you don’t have to worry about. And if you want to do your work outside, in a coffee shop, or anywhere else you can.
You can be your boss; no one else can rule you.
If you are tired of the regular work, if you are fed up with a boring, dull, monotonous job, if you need excitement, change and a passion to pursue, then you should be a lifestyle entrepreneur! Just you need to have the intent right to achieve your goals successfully. Work is a big part of your life, but it doesn’t have to be your whole life. That’s the premise — and the attraction — behind becoming a lifestyle entrepreneur.
Let’s take a closer look at what it takes to become a lifestyle entrepreneur and whether or not it’s for you.
Are you the one who likes freedom in life? If yes, then a lifestyle entrepreneur is the cup of your cake. If you are catching on with this lifestyle entrepreneur thing and you want some advice on how to become one, here are five awesome tips to becoming a lifestyle entrepreneur.
Lifestyle Entrepreneur Tips #1: Put In The Time And Effort
Rome wasn’t built in a day, but everyday Rome was built. The first part of the sentence teaches that you must come to terms with the fact that building a business to the heights you want it to attain will not happen immediately. It is okay to be ambitious, but stick some reality with your ambition. Accompany deadlines with achievable goals. If you ambition blows and you begin to expect more than you get, it will only be a few moments before you begin to feel like you failed even before you started.
Lifestyle entrepreneurship gives you so much freedom over your time.
But it won’t work without discipline and keeping a consistent schedule. Holding yourself accountable and keeping track of your hours and what needs to get done will allow for a smooth experience. Just because you’re free to work wherever and whenever doesn’t mean you can’t keep track of your deadlines and set big goals for yourself. Being aware of what motivates you is also important. Are you motivated by the idea of a nice country home? Or a penthouse? Write down what your dreams are, and what’s truly important to you. A goal not written is just a wish.
If you truly want to become a lifestyle entrepreneur, you’ll need to be seriously dedicated. Quit the talking and just do.
You’ll need a lot of self-discipline. Most millionaires are awake before dawn, when the rest of the world is schlepping away in their beds. Commitment is also in thought as well as action. You must keep your goal constantly in mind, like driving a car. There will be setbacks, maybe you’ll get an account closed, maybe you’ll have haters, but so what? Focus on your goals. Refuse to allow anyone to bog you down with their negativity! It’s important to understand that making money online is not “get rich quick” scheme and sometimes it will take real work. But it’s worth it. If you want to become a lifestyle entrepreneur, It can be a roller-coaster ride income-wise, but never give up – because once you get there, you’ll give so much thanks you persisted.
Tim Ferriss, the author of The 4-Hour Work Week, is a one of the world’s most well-known lifestyle entrepreneurs.
He’s a unique guy to say the least, and it didn’t take him long to discover that his most productive working hours didn’t fall between 9am and 5pm. When it comes to writing, Tim catches his biggest waves of creativity in the late, late evening — sometimes well past midnight. It would be pretty hard to make progress on his books if he held a regular job, but Tim doesn’t do regular jobs. He sets his own hours, works when he’s most productive, and plays when it’s most enjoyable. Timing is everything when is comes to crafting the ultimate lifestyle.
Every startup business requires its own time to settle.
And time management is one of the major issue with lifestyle business. If a person started a business of lifestyle entrepreneur, then he should be capable of handling any sort of issues. And especially he is supposed to handle time management perfectly so that there won’t be any sort of difference of opinion within anyone. Therefore, it is necessary to have an understanding about lifestyle entrepreneurship. It would be silly to let your business crumble because you have a strict vacation policy, don’t you think? If business calls on vacation, you don’t have to get up and run off, but make sure you have all it takes to handle the business remotely. It would make more sense to shut everything down and resume when vacation is over.
Lifestyle Entrepreneur Tips #2: Define Your Goals and Values
Becoming a lifestyle entrepreneur and finding your niche involves listening to yourself and deciding what you want from life. Answering these questions can help you decide if you want to venture out on your own, what type of business to start, what your priorities are, and what type of schedule you want to work.
If your life was on an endless loop that replayed infinite times, how would you live each day?
Before you can start brainstorming ideas for your online freedom business, you have to define what your perfect day looks like. Once you do this, you’ll have a crystal clear image of how you want your life to be. Start from the second you wake up and lay out every detail of your perfect day. By the time you finish, you’ll have an outline of your perfect day, and it’ll act as a filter for eliminating business ideas that don’t sync with your ideal lifestyle.
What are you passionate about? Building your business around the things that you are passionate about helps you to enjoy your work.
You can start a partnership business, it also gives you the opportunity to build a life that you will love or always dream about. Suppose you love to travel and taste different types of food. You can build a business around some travel food blog. This way you will be able to travel around different places and also taste the food from different regions. Then, pick some of your ideas and research them. Check whether they will be able to help you with the lifestyle that you want or not. And in case you find out that they are not giving you the freedom you need to pursue your lifestyle goals, cut them out from the list.
Before eating something, you decide whether or not you want to eat the food.
When such trivial decisions of yours are pondered over, then how can you become an entrepreneur without thinking intuitively? Before stepping into the field, understand whether or not you would like to earn your living with this entrepreneurship model. You even need to identify your passions and skills. For instance, you cannot be a consulting content manager online if you don’t have the right writing skills and appropriate knowledge of digital marketing. Begin with the concept only if you are certain about it. After all, not every model of business suits everyone!
The right business for you depends on many different factors, including your knowledge, your passion, your skills, and the way you want to work.
You’ll have the best chance of success if you focus on your strengths because they’ll give you a competitive advantage. Decide what you’re most knowledgeable about and start your brainstorming there. Your area of expertise can help you to become successful in achieving the goals of your life. Identify your hidden talent and determine how you can encase it if you want to become a successful lifestyle entrepreneur. Identify your skill and expertise and try to become perfect at it. Perfection in work cannot be purchased; you have to build it over time. To enjoy your life, you must focus on becoming the best, not the second-best.
Lifestyle Entrepreneur Tips #3: Get Exposure and Grow Your Audience
While starting a business of such high credibility of risk a person should prepare himself for all sorts of uncertain events. Therefore, if they really want to change such uncertain events affecting their personal life, then they should take a strong step towards starting a foundation for the lifestyle business sake. Moreover, this foundation might create a possible chance of surviving in the future of this fast running business market.
Keep your idea clear about the fact which is your customer. Keep your mind open to identify the fact which is your target audience.
Target your niche correctly so that you can get better returns from your investment. You must consider your strengths, passion, and interest to identify who are your target customers are. It will make things easier to deal with your target audience. You need to make a detailed audience persona. Where do your customers live? What do they need to do to work efficiently? How much money can they earn? What are their most crucial problems? Try to identify their problems and create an online presence for them.
Once you know the target audience, you have to evaluate the landscape and find out your competitors.
The market is flooded with competition and therefore, jumping in before analyzes will directly bring you trouble. Look others in the industry, find out where funding, investments and customer support is going and then begin to prepare yourself. The world is filled with many different people with varying personal wants. Some of these people will fit perfectly and benefit from your business. These are your prospective customers; make setups to pull them in and supply their wants.
Whenever a person starts a business, then it is quite clear that he needs to be prepared for all the odd things which is going to happen while running a lifestyle business.
And before starting a lifestyle business a person need to figure out the perfect targeted audience for the lifestyle business. Therefore, once the entrepreneur figure out the actual target audience to whom they can pitch this business and attract them towards it, then it is possible that the business will eventually fall on the track for the good of an successful entrepreneur. Have a profitable target audience. Don’t try to sell fancy products to minimalists. Or expensive non-essential products to students.
When you provide value through your free content, people will want to dig deeper.
Your paid content is what they turn to. Too many entrepreneurs don’t charge based off of the value they provide. Offer your value by consistently creating free content that’s better than other’s paid content. Charge a fair but profitable price for your premium offerings. Lifestyle entrepreneurs value their time above everything else, so their time is the most expensive service they offer. Marketing is going to be key in this noisy world. You can make the best product in the world, but you’re not Apple, so you need to get your message in front of your ideal audience. The “build it and they will come” only works in Field of Dreams. This rarely works with online businesses. Word of mouth is great but it’s just one form of marketing. With all of the different marketing channels at your fingertips these days, there’s no excuse for not trying to max out at least one of them.
Lifestyle Entrepreneur Tips #4: Charge What You’re Worth
Just because you are new to entrepreneurship doesn’t mean that you should give your services for free or at throw-away rates. Learn the market value of your talent and charge accordingly. Of course, you cannot charge as much as someone who has been in the business for years, but that doesn’t mean you should charge so little that it devalues your services.
You can be specific with niches if you want, and passion is important, but you need to be realistic.
If your target market is broke, chances are it will be more challenging. Where selecting a niche can help, the most important thing to ask yourself is “can my target audience afford to pay me?” We’ve seen so many so-called entrepreneurs choose a niche only to fail because the market cannot afford their products and services. Remember that you are building a real business and you must see an online business the same as you do a physical business.
Once you create a strong connection with your target audience, you can easily offer them the products and services they expect from you.
Your offering must make a significant value in their life. For doing this more effectively, you must follow the following steps. Build a connection with them on a personal level. Leverage your unique image to create your personal brand. Do something that your competitors are not aware of. Hence, you can develop your strategy as a lifestyle entrepreneur to develop your brand image in the best possible manner.
As a blogger, when you provide value through your free content, people will want to dig deeper.
Your paid content is what they turn to. Too many entrepreneurs don’t charge based off of the value they provide. Offer your value by consistently creating free content that’s better than other’s paid content. Charge a fair but profitable price for your premium offerings. Lifestyle entrepreneurs value their time above everything else, so their time is the most expensive service they offer.
You need to make sure that the prices you are setting are sufficient to meet the lifestyle goals that you have.
For this, you have to know the business rules and you also need to make sure that you are not setting the price range so high that people are not willing to pay it. You also need to identify your ideal customers or clients. After that, you need to find the best place in order to reach them, develop materials and systems in order to present your business in front of them. Social media, blogging, emails, interviews on podcasts are great options to spread your business to the world.
Lifestyle Entrepreneur Tips #5: Automate & Delegate
Once you have made progress, review what’s working for your business. See where you can make the process smoother and more efficient. Spend your time growing that profitable part of your business and scale the progress. Focus on what’s working and commit only to learn what will help your lifestyle business grow. Don’t become a victim of information overload. That has crippled many entrepreneurs.
If you want more time, you’ll need to automate.
That’s not just something for ecommerce owners or SaaS business owners. Freelancers, agencies, and many other labour-intensive business categories can be automated. It takes some work but it’s something you should be thinking of right from the start. Zapier, IFTTT, email automation tools, and other amazing automation tools can take out the boring, repetitive work. Outsourcing repetitive tasks to overseas workers on sites like Fiverr and Upwork can be a great way for you to start focusing on what grows the business. Work on the business, not in it if you want this to be a lifestyle that fulflils you.
Not many people have experienced the joy of buying a profitable business: Systems are set, processes in place and teams are working in synchronicity.
Whether you are a one-man show or a multinational corporate, customer support can make or break your brand. Having a system to monitor tickets, automate and answer FAQs is worth every penny. Even better have an outsourced team working round the clock, 24/7 in order to best placate your patrons. Entrepreneurs are willing to sink all their time into their business, staying late, waking up early, doing all the tasks no-one else wants to do. Lifestyle entrepreneur’s aim to simplify and automate to have more freedom.
The best lifestyle businesses can run themselves — for the most part.
You won’t have to worry about finding the right balance between your work life and your personal life if you know that you can automate your company and continue to bring in money when you’re doing other things. In the beginning, it’s okay if you have to do a lot of the work for yourself, but eventually, you should be looking for a way to automate your processes either through outsourcing or technology. If you build a business that requires your input all the time, then you’re not creating a lifestyle company. Not only will an automated business give you more freedom, but it could make your organization more appealing to buyers and brokers if you decide to sell in the future too.
Most entrepreneurs feel an incredible drive to succeed, and end up confusing efficiency and effectiveness.
They end up getting bogged down by the daily tasks which drains them of creative energy and prevents them from seeing the bigger picture. Most entrepreneurs work crazy hours trying to get their business off the ground. But as a lifestyle entrepreneur, you want to do more of what you love. Any time you find yourself performing task list type activities you should ask `How can I automate this`, `How can I systematize this`, or `Is there someone else better suited to handle this`. Those simple questions will allow you to preserve your creative energy and discern the forest from the trees and seize the larger opportunities that most people miss.
The future is looking brighter than ever for individuals who want to be lifestyle entrepreneurs. This type of entrepreneurship is able to thrive on the internet, which means that further technological improvements in the future should make it even easier to be a lifestyle entrepreneur. Being able to avoid producing and distributing physical goods when creating a business on the internet makes it more advantageous to become a lifestyle entrepreneur.
A lifestyle entrepreneur is an entrepreneur who makes their living online.
They don’t have a physical location or need one to operate. All they need is a laptop and connection to the Internet to manage their business. They are not tied down, which allows them to operate their business all over the world. There can also be a passive income element to their business, but it’s not necessary. If they offer services, such as coaching or consulting, they can work over Skype.
You might want to make your own money, be in charge of every aspect of your business and live freely.
However, this lifestyle isn’t easy to attain right away; it takes time and dedication. Yes, you can eventually make more money. And you don’t have to spend 4-8 years in school getting a degree with an online business. All you need is the internet, an idea, and some skills. If this type of business appeals to you, know that it’s possible and profitable. Do your homework and use the five tips above to build the kind of business that best supports the type of life you want to live.
At the end of the day, this isn’t about money, it’s about freedom in every area of your life. When you experience this freedom, you can live life on YOUR terms.
Before I let you go, I just have one last question for you… If you had to repeat one week for the rest of your life, what would you do with it? The catch is that you have to spend at least 20-30 hours of it working. Leave your answer in the comments below!
Digital Dandy. Hacker From Heart. Workaholic. Coding Artist. Self-made.