A lifestyle entrepreneur is someone who starts a business, not necessarily for the sake of financial gain, but because of a desire to live life the way that they want to live it. This is typically a person who highly values the independence of working for herself and wants to be in control of a career that is in sync with her ideal lifestyle. Pretty much anyone with motivation and a drive to succeed can take a swing at lifestyle entrepreneurship.
The majority of lifestyle entrepreneurs start businesses that they are passionate about. But this doesn’t mean there aren’t guidelines to follow. Any startup, even when it is launched in pursuit of a passion or interest, still requires all the necessary elements of a successful operation if it’s going to accomplish its purpose. This includes a quality business plan, initial funding, a unique and valuable service or product, and a market to sell the product.
So how does one become a successful lifestyle entrepreneur?
1. Form a realistic vision. Think ahead to what you want to be doing one, two, five, or ten years down the line. But be careful that you don’t set yourself up for failure by aiming too high or too low. Keep your concept credible. Being realistic about your future will make it possible to set solid, attainable goals.
2. Figure out your values and principles. The whole point of being a lifestyle entrepreneur is to align your career with your personal life. For this to truly work, your fundamental values and principles need to live in the very heart of your business. Once you identify just what these tenets are, stick to your principles no matter what.
3. Have a plan of action. Being an expert at what you do is simply not enough. Knowledge is useless without action—dedicated, passionate, and tireless effort. Top performers will tell you that lasting success can only come through good, old-fashioned work. The more active you are, the better your results will be. Create a solid plan of action that is based on specific objectives and has defined timelines. Then do what you set out to do.
4. Don’t try to go it alone. This is a common trap that many entrepreneurs fall into during their quest for independence. As thrilling as it may be to be in business for yourself, you don’t want to be in business by yourself. Have a handful of supportive people that know things that you don’t know and are able to do things that you can’t do. Delegate. Hiring people to do the work that’s outside your wheelhouse will afford you more freedom and time to focus on gaining profits. It’s simply more efficient, and therefore more conducive to the lifestyle you’re aiming to achieve.
Whether you are already a lifestyle entrepreneur or are thinking of becoming one, these guidelines should help you along the journey of this very rewarding career. With a realistic vision, clear values and principles, a solid plan of action, and a reliable support system, you can find success in both your personal and your professional life for years to come!