Why is the term “Lifestyle Business” spoken with derision? Is it because “real businesspeople” discount the value of them, or is it because the Lifestyle business owners themselves belittle the amount of income generated by their businesses?
In a world so full of people that *don’t * like the things they do to make a living, it seems counter-intuitive to be belittling a situation that allows people to make a living doing exactly what they want to do. Admittedly, I’m in a strange place to be hosting this conversation. I live amongst artists and entertainers who make their livings in “Lifestyle Businesses” whether or not they use that moniker. Folks who make a living on their own creativity, who get to spend more hours of the day with their children, who get to travel and manage to make their businesses pay for it … these people surely have Lifestyle Businesses, even if the term is more often used for expat importers who can happily justify their second home in Bali; or folks who create automated business via the internet.
Believe me when I tell you that there were “Lifestyle Businesses” before there was an internet.
Don’t think for a second that I am dissing the opportunity to have a second home in another country. Quite the opposite … I’m wondering why this ability to craft a business that allows someone the life they want most to be living, is dismissed as “less than” the person whose business makes an initial public offering on Wall Street.
It takes more than dollar signs to establish the value something has for our lives. I think we need to remember this when comparing ourselves to the lives of the people we see in the media. The real goal, the brass ring, is living an abundant life. Living an abundant life has more to do with the intangibles than with the financial balance sheet.
If you want to live your best life; make a balance sheet that includes things like time with your kids, creative outlets, travel, self-determination … and see just how valuable that Lifestyle Business is against the cubicle job that allows more stability and less risk. I know which one I choose.
Artists have less time to devote with children and family members, because they are so busy in their lifestyle business.