Let’s Understand, Lifestyle Business!
Need better work-life balance? Then do Lifestyle Business.
Today, in this article we are going to teach you what is a lifestyle business (Lifestyle Business Definition).
If you want to live a better life and don’t know how to start, then you are in right place.
Lifestyle Business has gained lots of popularity over the years, in-fact from 2012.
More and more Young Minds through Blogging are finding ways to build their work-life balance so that they can live a better life.
Lifestyle Business Ideas are the one which makes it possible.
More than 18,000 people search over the Internet for Lifestyle Business every year in order to find ways to make money online for better lifestyle.
This Article will show you all about Lifestyle Business.
We have lined up a series of Lifestyle Business Articles, which will surely inspire you to find a better work-life balance via Lifestyle Business Ideas.
Stay Tuned for it!
Now, let’s dive right in to understand, definition of a lifestyle business.
What Is A Lifestyle Business?
A Lifestyle Business is a Business set up (Online or Offline) which is run by its Founders and aims at making money and sustaining a certain level of Income which supports the livelihood and helps to enjoy a desired lifestyle.
This means, if you are an Owner then you will be investing your passion towards Lifestyle Business.
This helps the Owner to support his lifestyle by making passive income which fulfills his personal requirements and not aims to maximize the revenue.
The Goal of Lifestyle Business is to create a sustainable and better work-life balance.
The Lifestyle Business focuses on fulfilling the owners desired lifestyle without sacrificing his personal life.
If you have a Passion on something which is of personal interest, then convert that into Lifestyle Business Idea that makes the time you spent working on it more enjoyable.
A Lifestyle Business doesn’t have to be Small nor too Big.
Lifestyle Business can be a tiny business that you can run or aim for big which you can later convert into a big company.
Lifestyle Business can be with less or many employees and in terms of revenues it could be less or high too.
But, at the end the Owner with an Entrepreneur mindset can live his/her life the way they want even by running the current Company.
20 Definitions of Lifestyle Business
There are many Definitions of Lifestyle Business.
If you want to understand thoroughly and clearly, then we suggest you read all the below definitions.
Here are different definitions of lifestyle business:
#1. Lifestyle Business is the life you desire to live
#2. Lifestyle Business is the business that you can run to have better work-life balance
#3. Lifestyle Business is the business where-in the owner can spend his time on his passion turning it into a business as a source of passive income to live better work-life balance
#4. Lifestyle Business is the business where-in an individual can turn into an Entrepreneur to have better work-life balance
#5. Lifestyle Business is a business setup run by its founders to have a better sustainable life via sustaining a particular level of income
#6. Lifestyle Business is a business that doesn’t have to be small at all either in revenues or employees to have a better work-life balance via making money online or offline
#7. Lifestyle Business is the business that it allows the Entrepreneur or the Owner to live how he or she wants to live now, while you are running the company too
#8. Lifestyle Business is that business which allows you to start enable you to live the life you want
#9. Lifestyle Business is the business where the owner can run his or her company without sacrificing his or her personal life so that he or she can live the life they want
#10. Lifestyle Business is that whichever you make it for living the desired life you want without sacrificing your current company
#11. Lifestyle Business is the one that aims towards supporting owner’s income and his personal requirements rather than focused and maximizing revenue
#12. Lifestyle Business is the one that is setup with a sole purpose of enjoying a particular and desired lifestyle
#13. Lifestyle Business is the one that enables and promotes the lifestyle you want to live
#14. Lifestyle Business is the one that serves you the best as much as you serve it
#15. Lifestyle Business is the one where-in you focus on combining making money while also living the life you want side by side
#16. Lifestyle Business isn’t intended to make plenty of money. It’s more focused on to make enough money to live comfortable life while having freedom to work enjoyably to have a good work-life balance while doing the work that you love enjoying
#17. Lifestyle Business is that business which is designed to focus on founder’s talent on business which generated enough revenue so that it supports their desired lifestyle
#18. Lifestyle Business is not a startup. It’s more of supportive business idea that enables you live the life you want by making money online or offline
#19. Lifestyle Business is a business idea that supports your lifestyle
#20. Lifestyle Business is that business which pays you equally in revenue, quality of the time spent, awesome experiences and more enjoyable life
5 Features of a Lifestyle Business
A Lifestyle Business is not the one where the purpose is not aimed at maximizing the revenue and earning as much as profits as possible.
The Lifestyle Business is more focused on supporting you via generating enough extra revenue so that you can have work-life balance.
The Lifestyle Business generates just enough revenue for the business owner so that he or she can enjoy his or her current lifestyle which isn’t going to affect his or her personal life.
The Key Fact of Lifestyle Business is to Enjoy the Lifestyle Business he or she do.
Your Passion, Interest or Hobby anything can be turned into a Lifestyle Business. Here you will be enjoying with love and joy.
This means the Owner can Earn Money Online or Offline from just they are having fun with.
Let’s see the 5 Features of a Lifestyle Business.
#1. If Lifestyle Business has Single Owner, then the owner is the only sole employee
#2. In case of more than one owner or the founders, the owners are going to be the business employees
#3. In Lifestyle Business, the sole owner has full time and can spend his full time on what he loves
#4. In Lifestyle Business, the owner has full freedom and can do whatever he wants with his time
#5. The owner makes enough money via Lifestyle Business and makes his life enjoyable and maintains work-balance
14 Examples of Lifestyle Businesses
If you have the Passion to work on something and sell, then you can become a Lifestyle Businessmen.
There are plenty of Lifestyle Business Examples out there in the World that you can start for.
They say, “Lifestyle Business is the holy grail of Entrepreneurs in the 21st Century.”
Who doesn’t want to have the Freedom where-in the Lifestyle Business brings all the money enough for living desired life of your which a large corporation can’t bring?
Isn’t it sounds great?
Actually! Not only it sounds great, it also sounds amazing and its damn true too.
Work for yourself anywhere in the World and Make Money more than enough over 6 to 7-figures a month.
Back in late 90’s this could have been just a dream.
But, Today, It’s a real thing.
You can surely be an Entrepreneur independently, if you think of these Lifestyle Business Examples.
If you need an Inspiration, then here is the list of 14 Examples of Lifestyle Business that you can work on and Make Money Online or Offline.
However, the most common Examples of Lifestyle Business or the 14 Proven Lifestyle Business Ideas (2020) are listed below.
#1. Professional Blogging:
Talk about Blogging? There are Thousands of examples that shows how much a Blogging is best suited ideal for a Lifestyle Business.
If you have an Interest on something or have a hobby, then hop into Professional Blogging.
This sounds crazy!
But trust us there is no other way that a Blogging could help you make enough money that you want to live the desired life you wish for.
Here are few examples of blogging that you can think of which are making money in 6-figures a month:
Bike198.com, Psd.TutsPlus.com, TimothySkyes.com, CarAdvice.com.au, CoolestGadgets.com, SmashingMagazine.com, Mixergy.com, and so on.
Blogging is a great way start a Lifestyle Business that allows you to explore many ways of making money online starting from Displaying Ads to Display Affiliate Marketing Links.
#2. Consultants or Advisors:
Are you having a Great Skill? Don’t know what to do with?
Then, why can’t you think of becoming a Consultant or Advisor and offer Services that matches your Skills.
This could be a great source of passive income that makes your lifestyle better.
You can work as a Consultant to Small Enterprises or Small Businesses or to Schools or Colleges and offer your Services as a Consultant or Advisor.
#3. Affiliate Marketing via Niche Websites:
You already own a well targeted Niche Website and want to earn money online.
Then you should opt for Affiliate Marketing.
There are many Affiliate Programs over the Internet that offer Affiliate Links and helps you to earn a commission on each sale.
Or Partner with Clients or Popular Websites matching to your targeted Niche Website and display their Affiliate Links to make money.
Here are few of the Popular Examples of Affiliate Marketing that you can choose for:
Amazon Associate Program, Flipkart Associate Program, ClickBank Affiliate Program, Affiliate Network, CJ by Conversant, FlexOffers, LinkConnector, RevenueWire, ShareASale, and so on.
#4. Writers or Journalists:
You love writing about things, right!
One of the best ways of Lifestyle Business is that you can start writing for popular websites on the topics you love.
Becoming a Journalist by writing content via Articles on a partnered website can help you earn enough money that helps to live a lifestyle that you want.
This is best for young minds and students who need pocket money.
Guest Posts are a great way to start earning money online.
Here are few of the examples of Websites that allow you to write Articles via Guest Posts and earn money:
MakeALivingWriting.com, DameMagazine.com, BootsnAll.com, ThePennyHoarder.com, Achs.edu, 5BestThings.com, Blog.IwaWine.com, WriteNaked.net, TutorialBoard.net, ElitePersonalFinance.com, ListVerse.com, Cracked.com, YourOnline.biz, Strecher.com, TransitionsAbroad.com BrainChildMag.com, and so on.
#5. Online E-commerce Stores:
If you have a list of Products and don’t know how to sell and where to sell?
Start a Lifestyle Business via starting an E-commerce Online Store.
Post the Products, promote and do a bit of SEO, that’s it! You are good to go to earn money online.
This will also explore many ways of making money online.
That is by monetizing your Website via Google AdSense or Affiliate Links to earn passive income.
Here are few examples of best e-commerce websites that earn money:
Luhsetea.com, BoardofSouthSea.co.uk, BirdandKnoll.com, SpunkyBuds.com.au, EarthEasy.com, OneHorseShy.com, Ziiiro.com, Kershaw.kaiusa.com, StoryVille.com, Made.com, BloomingDales.com, DIY.com, Us.LkBennett.com, JohnLewis.com, and so on.
Suggested Articles To Read:
Freelancing is also one of the best ways you can earn money online and turn it into a Lifestyle Business.
Don’t go waste your Skills. Invest them on Freelancing Websites.
Find a Website where you can get hired for doing the work they offer and earn money.
Need a passive income to live your desired lifestyle, then Freelancing is the way to go.
Here are few of the Websites that offer Freelancing:
Upwork.com, DesignHill.com, Toptal.com, LinkedInProFinder.com, WeWorkRemotely.com, Behance.net, SimplyHired.com, Dribble.com, Fiverr.com, PeoplePerHour.com, Guru.com, Freelancer.com, Angel.co, DesignCrowd.com, 99Designs.com, Magazine.WorkingNotWorking.com, Experts.WebFlow.com,
#7. App Development:
You have Programming Skills?
Why don’t you invest your time on App Development?
Build your own Apps and monetize them with Adds and Earn Money.
Also, you can offer in-app purchases for Users to earn money.
Here are few of the examples of websites that allow you to monetize your App:
Audienceplay.com, CJ Affiliate (CJ.com), AdSense.com, ExoClick.com, AudienceNetwork from Facebook, AdBlade.com, Clickky.biz, AdNow.com, AdCash.com, PropellerAds.com, and so on.
#8. Web Designing:
Web Designing has gained a lot of popularity over a period.
If you are good at Web Designing, then you can offer services of the Web Designing those who in need of.
Target Small Enterprises or Small Businesses to develop Website and offer it to them.
Your Clients will surely pay you the Money you want, and you can earn enough money to diversify and have a healthy lifestyle via Web Designing Lifestyle Business.
Here are few of Top 10 Web Designing Platforms that you can choose to develop a Website.
#9. Public Speaking via Podcasts or Webinars:
Are you one of a great Public Speaker?
Then why can’t you start Podcasts? Build your Website and start Podcasting.
Pick a topic of your interest and start podcasting or partner with Podcasting Websites and earn money.
Partner with Clients to host Webinars and earn money.
Here are few of examples of making money by monetizing a Podcast via following methods:
Affiliate Marketing, Sponsors & Advertising, Courses, Services, Coaching & Consulting, Crowdfunding & Donations, Premium Content, Events, Physical Products, Books, Public Speaking, Combine Methods and so on.
#10. Running a YouTube Channel:
No age is limited if you are Creative.
Share your ideas or teach something or do fun things, whatever it maybe you can create videos a post them on YouTube.
Create a YouTube Channel, Post Videos and Monetize via Google AdSense and earn money.
Turn your hobbies and interests on YouTube a Lifestyle Business via earning money.
#11. Short Film Making or Video Making:
Are you good at Video Creation and Video Editing?
Then start creating videos for Corporate Offices or Events for your Clients and get paid.
Or Post them Online on YouTube, Vimeo or DailyMotion to earn money online by monetizing your Videos.
Turn your hobby a lifestyle business and live a desired lifestyle.
#12. Online Coaching, Online Webinars or Teaching:
Are you good at Teaching?
Then start creating online courses online and earn money by allowing purchases to users.
Or Partner with Clients to host Webinars Online or Offline and get paid.
You can also start your own website and offer online paid courses.
Here are few of examples of websites that allow you to post your online courses and turn it into lifestyle business:
Udemy.com, Coursera.com, Lynda.com, Byjus.com, Skill Share, and so on.
#13. Selling Products and Services on your Website:
Start a Website and post your Products and offer your Services.
Once someone purchases your content then you can earn money turning your passion into a lifestyle business.
Have deep knowledge on any Niche or Topic?
Create a Niche Website and post your E-books on your Website.
Once people start purchasing you will start earning money.
Or upload them on E-books offering Websites and earn money.
Here are few of examples of Websites that allow you to post your E-books and earn money turning your hobby into a lifestyle business:
Payhip, Amazon Kindle, Blurb, Lulu, Tradebit, Nook Press, Kobo Writing Life, Smashwords, Scribd, PayLoadz, E-Junkie, Feiyr, Selz, Gumroad, Booktango, Clickbank, Book Baby, Shopify, and so on.
Lifestyle Business vs Start-up
Startup’s and Lifestyle Business are completely opposite.
Both are having entirely different meanings in-between. Now a days, the Startups are in great boom and are most popular among young minds.
If you want to get succeed in life, then start a startup.
Are you one of them? Started a Start-up?
Then you are in the right direction.
Startup’s are the one which are started with an intention of growing their business, earn money and increasing profits.
In Startup’s growth and expansion of its businesses are main objectives. Hence it requires funding and investment for its growth and expansion.
In Startup’s the owners must put their personal life aside for a while in order to heavily invest time and money just to fulfill their responsibilities for generating revenues and increase growth of a business.
However, in Lifestyle Business doesn’t require an additional funding or investment.
In Lifestyle Business, the sole owner will be responsible entirely to himself not others. He can spend his time the way he wants and earn enough money for his lifestyle living.
As far as Startup is concerned it must earn money in order to return the money to investors and financiers.
Lifestyle Business vs Self-Employed
Are you a Self-Employed? Or you are running a Lifestyle Business?
Even though both are same, still there is a lot of differences between the two.
Don’t worry let us understand what these two words mean.
To put in simple words,
Self-Employed means a Job which is Independent.
You are running a Business where-in you must have to open it every day for a specific period of time and thus it’s still a strict Job.
In Self-Employed you must worry about the money you make, think of increasing revenue and generating high profits and constantly focus on improving and increasing sales growth.
Lifestyle Business is the one that is not a Job. It can be independent business which you have chosen based on your Hobby or Interest.
In Lifestyle Business you don’t have to worry about increase of revenue nor employees. It’s all about making enough money to have better lifestyle and work-balance.
In Lifestyle Business you have your own time and can spend the way you want and how much you want.
Here you can also concentrate on your regular job and can spend time on your Lifestyle Business to earn passive income for your lifestyle.
Why You Should Start A Lifestyle Business?
If you are new here and asking yourself why I should start a Lifestyle Business? then you are in the right place.
You are already working in a Corporate Office and have a Job and salaried. But the earnings are not enough to you have a better living life.
Hence, you want to earn passive income so that you can have a work-life balance and live a better life.
If so, then why can’t you start working on a Lifestyle Business?
If you are one of them then you can live the lifestyle life you want with Lifestyle Business Ideas. A Lifestyle Business have many benefits and advantages over the other types of businesses.
Here are few of the 6 Advantages of Lifestyle Business over other types of Businesses:
#1. All Time is yours and can spend the way you want and when you want:
In Lifestyle Business there is no time limit or strict timings.
You can spend the Time as and when you want. You can either plan for days for a specific amount of time or you can randomly work on any timings of your choice.
#2. You don’t have Sacrifice your Personal Life:
In Lifestyle Business you don’t have to sacrifice your Personal Life for to live a Lifestyle Business.
You can parallelly work on Lifestyle Business Idea of your choice and enough earn money to live a life you want of your desire lifestyle.
You can give enough time and focus on personal life and can spend little bit of spare time on Lifestyle Business.
#3. No Investors to return the money:
In Lifestyle Business you don’t have to worry about Investors and other Investing related things.
This is because you don’t need any Investors to invest on your Lifestyle Business. It’s your Business and your Invests.
So, whatever profits comes all goes to you as there will be no Investors.
#4. No Financiers to answer for:
You will end up winning as there won’t be any Financial Constraints.
The money making you will be earning via Lifestyle Business is for to support your Lifestyle of living. Thus, you will have full freedom on financial part.
#5. You have Full Freedom on both Time and Location:
As said above you will love the freedom of time as well as the location by starting a Lifestyle Business.
There are no restrictions on where to start on which location to start. You can be on any island or desert or in mountains or in any other places, you still can work on your Lifestyle Business and make enough money.
Go on a Vacation or Tour, you can still work on your Business Lifestyle to live a better desired life.
#6. You are the Sole Owner of your Lifestyle Business and Earnings
There are no restrictions on Sole Ownership as you can run the Lifestyle Business with others too.
But if you chose to be an individual then you can work as a Sole Owner of your Lifestyle Business.
Being a Sole Owner of your Lifestyle Business, you can have full control on Earnings too. The enough money you make will surely add up to your work-life balance and better lifestyle.
How to Start A Lifestyle Business? (Step-by-Step)
First things first. To start a Lifestyle Business, you need find your Passion and Area of Interest which makes you to build a Lifestyle Business.
Once you get started you can earn enough money and if you want you can expand the same and turn your passion into a fulltime business.
To get started just follow these 7 simple steps on how to start a Lifestyle Business on your own.
Let’s get started.
Step #1. Find Your Passion and Area of Interest
You can’t just start a Lifestyle Business unless and until you find your Passion & Interest.
Your passion and interest what it makes you to build, a successful lifestyle business. This will help you to build a successful website for a targeted niche.
Without your Passion and Interest, it becomes difficult for you to get started and sustain the Lifestyle Business.
Those with 100% Passion and Interest have been expected to succeed immensely turning their Lifestyle Business into a fulltime Business and now they are earning in 6-figures per month.
Passion and Interest is equal to a successful Lifestyle Business.
A Lifestyle business is something that you should love, have fun and enjoy all the time which is stress free too. Without these pillars there are chances of failing of most of the Businesses.
Step #2. Define and Set Your Goals
Once you find out your Passion you should ask for yourself,
What are my Personal Goals?
What i am going to accomplish once I start a Lifestyle Business of my interest? What do I want?
So, knowing what you want in your life and what kind of lifestyle that you want live is the best way to start your Lifestyle Business.
Here are 2 factors that you should consider while defining your Goals:
#1. Freedom: The amount of freedom that you want to have in starting your Lifestyle Business. This covers all kinds of Freedoms such as Time Freedom, Location Freedom and Financial Freedom, etc.
#2. Money: The amount of Money that you want to earn. Or in other words, the amount of revenue you want to generate via Lifestyle Business that supports your Lifestyle of living.
Step #3. Focus on Finding and Solving Problems
Once you defined your Goals, now you should start finding problems that people are searching over the Internet so that you can deliver solutions for the same.
If you are offering solutions of your Interest on a Targeted Niche, you will surely end up having more Customers for your Lifestyle Business.
If you focus on your Passion you will surely end up solving problems of your Visitors. You can also do research on Lifestyle Businesses that targets your Niche to improve upon.
This will help you to solve the Problems even better and offer good solutions.
Step #4. Decide and Conclude the Type of Lifestyle Business You Would Like to Setup
Now you have followed the above 3 Steps, it’s time to decide on which type of Lifestyle Business you are going to setup.
Try to make your Lifestyle Business as much as automated as possible. Think of long-term run.
The research you have done in previous steps helps you a lot in finding your Lifestyle Business efficiently.
Step #5: Buy a Domain, Hosting, Install WordPress and Set it up
To make your Lifestyle Business online you need to buy a Domain and Hosting for your Niche Lifestyle Business Website to host for.
Make sure that the Domain you buy targets your Niche. Also buy a Web Hosting that offers all features as and required.
Once you are done, don’t forget to install WordPress which will help you design, customize and create an awesome website for your Lifestyle Business Niche.
You can also find other Blogging Platforms that help you build your Website.
Step #6: Promote Your Website or Blog
To promote your Website or Blog get yourself on Quora.
Quora is one of the best ways that you can promote your Website and target Audience.
You can make use of all other Social Platforms like Facebook, Pinterest, Twitter, LinkedIn and so on to promote and drive Traffic to your Lifestyle Business Website.
Step #7: Localize Your Lifestyle Business
Once you have enough authority set up Google’s MyBusiness to gain more authority.
Once you are on Google your Lifestyle Business is going to earn money drastically as Local Visitors start discovering you and come for Products or Services of yours.
This will also help you to boost your Lifestyle Business and helps to gain more Customers periodically.
Advantages and Disadvantages of Lifestyle Business
When you try to compare a Lifestyle Business with other Types of Businesses, you will find so many advantages and disadvantages.
However, it is up to you that which Type of Business you would like to start.
Here are few of the Advantages of Lifestyle Business:
Advantages of Lifestyle Business:
#1. Financial Rewards: After you set up your Lifestyle Business you will end up with great financial rewards to support your living Lifestyle
#2. No Investors: No question of Investors or return of earnings to Investors as there are no Investors
#3. Personal Satisfaction: As setting up a Lifestyle Business involves your Passion and Interest; you will end up having Personal Satisfaction
#4. Personal Growth: On course of building a Lifestyle Business you will end up learning New Skills which ensures your Personal Growth
#5. Work-life Balance: Apart from your regular corporate job you can have wok-life balance and live a life of your desired choice via Lifestyle Business
#6. No Personal Life Sacrifice: As you will be spending time on your Lifestyle Business as and when required you don’t have to Sacrifice your Personal Life
#7. Full Freedom on Time and Location: You have full control and freedom on your Time and Location as Lifestyle Business doesn’t specify any Time to be spent as well as Location you work
#8. No Financiers: No question of Financiers as you don’t need someone to finance your Lifestyle Business as it is built up on your Passion and Interest
#9. You Are the Sole Owner: In Lifestyle Business you are the only owner as this is not a startup
#10. You will Make Enough Money to Have Better Life: Once you have setup and invested your time and ideas on your Lifestyle Business you will start earning enough money to support your life that you wish to live for
Here are few of the Disadvantages of Lifestyle Business:
Disadvantages of Lifestyle Business:
#1. Financial Risk: As you start with your Lifestyle Business, if you don’t have enough cash to run and maintain you will end up in a situation where you think of quitting because of Financial Risks
#2. Stress and Health Issues: As you will be spending time on your Lifestyle Business and once you keep on going, you start spending more time. If you won’t take care of yourself, then you will end up having stress and health issues
#3. Time Commitment: Even though you can spend time as you want and when you want, sometimes it becomes difficult to manage time on your Lifestyle Business because of your Corporate Job and Personal Life
Hope this Article has helped you to understand what is a Lifestyle Business?
We suggest you try to work on any of the Examples of Lifestyle Business which we showcased above.
Hope you can now Start a Lifestyle Business via drawing a Lifestyle Business Plan and monetize your website.
Tell us about your Lifestyle Business in the Comments below.
Also let us know on which Type of Lifestyle Business that you are currently working on.
If you have a Story of your Lifestyle Business, Please Comment below.
Please share this Article to as many as possible so that people can learn about Lifestyle Business so that they can support their Income to live a Lifestyle of their choice.