Ever dreamt of trading in that one flickering fluorescent light above your cube and that stink of office coffee for, well, anything else? Yep, me too. Welcome to the not-so-secret club of 9-to-5 daydreamers.
You don't have to just daydream about it. It's what the cool kids are calling a "lifestyle business." And it's spreading faster than that one rumor about Carol from accounting.
Starting a lifestyle business might sound as elusive as "shedding those last five pounds in a week," but trust me, it's actually a real thing — and not just reserved for the globetrotting set.
A lifestyle business is just shaping your business around your dream life, not squeezing life into the gaps of a busy work schedule.
Decoding the Lifestyle Business
If startups were the hustling New Yorkers, then lifestyle businesses would be the laid-back Californians — both aiming for the stars, but one's just doing it in flip-flops.
Forget the relentless grind for growth and appeasing shareholders. This is about building a business that wraps snugly around your dream life, not squeezing your dreams into a 9-to-5 box.
Why are they the new Instagram models of the business world? Simple: freedom. Embrace the freedom to dictate your terms, chase wild ideas, and yes, trade in those suffocating suits for comfy loungewear (or a breezy nothing — who's looking?).
A lifestyle business is the golden middle path.
How to Start a Lifestyle Business
1. Passions and Profit
Let's start with the fun part: What gets you giddy with excitement? Perhaps it's those adorable cat sweaters you've been knitting, or maybe you're the next guardian of rare comics. Dive deep into your quirks and curiosities. Google might just reveal a niche audience waiting to snap up your next big idea. Remember, today's "quirky" can be tomorrow's trendsetting.
2. A Casual Business Plan
This does not need to be your traditional bank approved business plan. Sketch out your vision on anything — a post-it, cocktail napkin, or even your favorite app. You just have to have a general sense of where you're headed.
3. Decide on Your Platform
A lifestyle business means you're online, and that means you have to figure out how that is going to be. Whether you're choosing an Etsy shop, launching a Shopify store or starting a blog, you need to get comfortable with the logistics. If you don't know how to set up a Wordpress blog, watch some YouTube videos or take a course. You get the idea.
Tip: Bluehost has been my go-to for domains and hosting. Starting out? They're cheap and have great customer service for beginners (I've tested them pretty good). For hands-off magic, scout a whiz on Fiverr to do all the stuff you don't want or know how to do.
4. Social Media
While cute cat antics and drool-worthy food snaps are the spice of life, social media can be your business's best friend. Share, engage, and dazzle your audience as much as you possibly can. A Kardashian-esque following isn't that far-fetched.
Tip: Tailwind has been my social media managing go-to. It helps me stay organized and keep up on all the different social media apps, without the 24/7 screen time.
5. Making Money
The magic moment in your lifestyle business is when it evolves from just a side gig into a bona fide moneymaker.
Whether it's selling products, rendering services, hosting webinars, introducing a subscription model, or diving into affiliate marketing, opportunities abound.
The ultimate goal? Earning as you snooze, bingeing on 'Friends', or even while you're lounging with a cocktail in hand. You see where this is going.
The Nitty-Gritty of Lifestyle Ventures
You'd think a lifestyle business is a delightful dance in a meadow with marigolds, right? Not exactly.
Even though a lifestyle business is all about passion projects, it still has a few drawbacks that you'll want to think about.
Solitude
Solopreneurship can sometimes feel like you're on a deserted island, minus the palm trees and tan. Miss those cafeteria catch-ups and birthday cake breaks? Those are no longer. I personally think this aspect is wonderful, but some people really miss the work place connections.
If you're missing talking with others, you can check into online forums, pop into a local networking shindig, or even embrace coworking hubs.
The Siren Call of the Sofa
When Netflix whispers sweet nothings, resisting a binge-fest requires Herculean strength. The trick? Carve out a no-snooze space that is for working only. Your productivity will thank you.
Rollercoaster Revenue Rides
One month you're bathing in Benjamins, the next, you're budgeting for instant noodles. The monetary tides in a lifestyle venture can be unpredictable. So, when the going's good, stash some for the rainy days. And remember, keep your 9 to 5 until your side lifestyle gig can comfortably pay for your existence.
Expanding Your Lifestyle Enterprise
If you've made it to the point of starting your lifestyle business and want to expand, keep a few things in mind:
Remember Your Why
Things can get messy in life, so remember your "Why". Remember why you started this in the first place so you don't veer too far off track and also so you keep going when you want to quit.
Adapt
The agility to adapt can make or break your venture. Stay vigilant to emerging trends, welcome constructive feedback, and if necessary, reshape your strategy.
Share
Growth inevitably leads to a burgeoning task list. Delegating certain roles can liberate you to focus on your forte. I really liked the book 'The 4-Hour Work Week'. It is a master class in proficient delegation.
Keep the 'Life' in Front
The ultimate aim isn't just a profitable venture, but a harmonious blend of work and leisure. Beware of the seductive pull of incessant work, it's a slippery slope from passion to overexertion. If growth begins to overshadow your well-being, it's wise to reassess, recalibrate, or as previously mentioned, delegate.
Your Essential Toolkit
Launching a lifestyle business without the proper toolkit is not easy. Don't make your life harder.
Here are a few tools that are beyond helpful:
Google Trends
Staying updated is pivotal. Google Trends helps you keep a pulse on all the ongoings online. But a word to the wise: while it's great to be on top of trends, ensure your core passion isn't overshadowed. Trend-chasing has its pitfalls — nobody is rooting for the resurgence of the fidget spinner.
Bluehost
While some opt for just a social media profile, a dedicated website offers credibility and control. For reliable and affordable hosting and domain services, Bluehost is what I use and recommend.
Fiverr
When the workload surges but hiring full-time isn't feasible, Fiverr offers cheap help. Freelancers, graphic designers and writers are at your disposal for really affordable prices.
ConvertKit
To build and nurture relationships with your audience, you need the right email marketing tool. Enter ConvertKit. I use them to manage my subscriber list, set up automated campaigns, and create sales and landing pages.
Shopify
Envision an e-commerce venture? I always recommend Shopify. It has an intuitive design and setting up your online store is easy for the web averse.
Tailwind
Maintaining consistent online engagement is daunting at best. Tailwind helps me schedule and automate posts, ensuring my content reaches my audience when they're most active.
Teachable
Teachable is your platform if you feel like there's a course inside of you waiting to get out. Design your course once and let it be a continuous source of passive income. The best part? No live sessions; everything's on-demand.
You can read more about starting an online course here:
A lifestyle business sounds like it is only for the Gen Z crowd who want to travel across the globe for most of the time and spend the rest in a tiny house (camper) in their parent's driveway.
This is actually not the case for most of use hustling it online. A lifestyle business is just a fancy way of saying that the way that you make money isn't from a job, but from an online venture that fits with your passion project.
It is completely doable for the average person, and it can open up a world of possibilities. The bottom line is that it never hurts to give it a go and see what you can make of it.
Your freedom could be waiting for you on the other side of that laptop of yours.
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