Before I go into the top 10, let me clarify what I mean by lifestyle entrepreneur, for those of you who might not be familiar with the term. As far as labels go, it’s one that I strongly identify with, and as soon as I heard the term, I claimed it. Hell ya, I am a lifestyle entrepreneur, albeit just a freshman compared to the seniors on campus like Tim Ferris and Chris Guillebeau, who blazed the trail for the rest of us years ago.
What is a lifestyle entrepreneur?
Lifestyle entrepreneurs are simply entrepreneurs who prioritize lifestyle before profit. Are we still interested in profit? Absolutely! Most of us are incredibly money motivated. It’s just that we value freedom and independence more than anything else. We’re crystal clear on our desired lifestyle and build our businesses around those ideals, not just to allow for what’s most important to us, but to support it.
It’s about freedom
Some of us are location independent digital nomads, running businesses we can run from anywhere in the world. Many of us are obsessed with travel and strive to create a freedom lifestyle, where we can live, work, and play while globetrotting freely. For others, it’s about something completely different. Ultimately, though, it’s always about freedom – whatever that means to you.
It’s not easy
Of course, being a lifestyle entrepreneur has its challenges, just like being any kind of entrepreneur. It’s a wild ride that’s probably not for everyone. Most of us take huge risks, fail often, and frequently get the crap kicked out of us. Some people give it a great effort, but eventually walk away because it’s hard and uncomfortable. The ones who end up crushing it usually have some serious grit (unless they just got really lucky).
Here are some of my favorite reasons, for those of you flirting with the idea, to become a lifestyle entrepreneur.
1. Vision + Purpose + Passion
As a lifestyle entrepreneur, you lead with vision, purpose and passion. You’re often called “heart centered” and can’t imagine doing work you don’t love. You step out of your comfort zone frequently and do whatever it takes to build a business, because it lights you up and fills your life with meaning. It’s the work you can’t not do.
You get to fly your freak flag. In this type of work, the more authentic you are, the more successful you are. You get to create a business that is an expression, or extension, of who you are. There are no masks to put on or facades to uphold. You just get to be you – the quirky, super weird, real YOU.
Regardless of what your definition of freedom is, being a lifestyle entrepreneur is all about supporting that. Whether it’s being able to spend time outdoors during the day and working at night, having time to care for elderly parents, spending more time with your kids, or traveling 9 months of the year, YOU get to decide. (And only YOU are responsible for creating it.)
A big part of the freedom lifestyle is flexibility. Set your own hours, work when and how you want. If sitting at a desk for 8 hours doesn’t work, maybe you work in 20 minute spurts. Or only on weekends. Or when you feel like it. Or when your golf schedule allows for it. Obviously it depends on what your line of work is, when your clients are available etc., but it’s up to you to set it up in a way that works for you.
5. Location independence
Another big part of the freedom lifestyle is being location independent. If you want to stay home, you can work from home. If you want to be social, you can find a co-working space or coffeeshop. As long as you have wifi, you can work with clients 1:1 over the phone or skype, lead group calls or video conferences, host webinars, and so much more with people anywhere in the world, from anywhere in the world. You also start to really appreciate good wifi.
6. Personal growth
Whether your business is actually about personal growth, like mine is, or is focused on something else entirely (SEO, let’s say), because you are not just doing whatever your line of work is but also figuring out all the different parts of starting and growing a business, you will constantly grow and develop as a human. You’ll fail, learn, grow, rinse, and repeat.
7. Financial independence
While it can be crazy stressful, risky, and humbling in the beginning when you’re dealing with aspects of entrepreneurship like paying for your own health insurance or not having a predictable monthly income, the possibilities are limitless. As a lifestyle entrepreneur, maybe you become an expert at leverage, offering not just 1:1 services, but group programs, information products, and more. Maybe you create multiple streams of passive income.
8. Building a team
In the beginning, most likely you start out by doing everything yourself. Maybe you stay a one person shop, which can work beautifully, or maybe you start outsourcing parts of the business to experts who can do a much better job at whatever it is you’re not great at or don’t enjoy doing, which frees up your time to focus on your favorite parts of the work. With an efficient team, you can leverage yourself even more.
Most lifestyle entrepreneurs lead unconventional lives. If you are a bit of a rebel, rule breaker, or non-conformist, having creative freedom is incredibly important to you. It’s where you come alive and do your best work. Being your own boss, running your own company, and being a creator out in the world gives you the freedom to be in your zone of genius, and tap into your creative in whichever way you’d like.
You want – no need! – to have an impact, leave a mark, and make the world a better place or help the people in it, in your own unique and brilliant way. It doesn’t matter how big or small the impact is, as a lifestyle entrepreneur it’s an important part of what drives you. Doing work that has no impact not only doesn’t appeal to you, it probably repels you.
In short, being a lifestyle entrepreneur is a challenging, emotional rollercoaster of an adventure that is worth every single second. I’ve only been on the path for a few years, and have a long way to go and many more challenges to get through I’m sure, but I can’t imagine doing anything else now.
If this post stirs something in your heart, don’t ignore it! Honor the whisper in your ear, treat it as a clue, get wildly curious, and explore the possibilities. I dare you.