Startups get all the glamour, especially these days. Even the language of the startup scene is sexy. VCs, Angels, incubators, acquisitions and exits. Exciting!
But that’s only some of the story. What about stress, sleeplessness, failure, debt, dependency, despair. Hmm. Less sexy.
So what is a lifestyle business? It’s the definition and epitome of professional independence. A lifestyle business is a business that you build on your own terms, which allows you to earn money while living your life.
How do I know it’s better to start a lifestyle business than a startup? Because I’ve done both. The startup is long since dead. And the lifestyle business is still going strong (12 years later)!
There’s nothing like experiencing both sides of the fence to help you see the light, and without any future ‘grass-is-greener’ pondering to keep you awake at night.
It’s all about the end game.
Yes, a startup holds the promise of reaching epic levels of financial reward that most of us can’t even imagine. But the chances of getting there are infinitely small. And the price you pay for just the slimmest chance to play is huge. You give up all of your free time, all of your money, most of your relationships, and some of your sanity for as long as it takes to reach that goal, or more commonly, for as long as it takes to fall into the abyss. Then you get to ‘enjoy’ the challenge of climbing out, on your own, with nothing and no one to help you and no safety net in place if you happen to stumble again.
With a lifestyle business, you’re highly unlikely to become a member of the billionaire club. But you risk little to nothing for a reasonable shot at creating a comfortable lifestyle for yourself, while still living your life, enjoying your friends and family, getting a good night’s sleep, and answering to no one. Think about that. Answering to no one. Imagine not having to ask permission to take a day off. Imagine not having to ask permission to work different hours just because you feel like it. Imagine being able to work from the beach. Or the park. Or the coffee shop. Whenever the hell you want. Without worrying about bosses, or employees.
Lifestyle business vs Startup. What is the life that you truly dream of living?