Running a startup is a lot like working a nine-to-five. If you truly want to escape office life, consider starting a lifestyle business.
While Mark Zuckerberg and Jeff Bezos fly around the world in private jets, attending lavish events while their wealth continues to climb, you’re stuck in a cubicle trying to get through yet another nine-to-five shift.
Yet, the life of a startup entrepreneur isn’t as glamourous as it seems. In fact, it’s incredibly similar to your job, with the added dose of stress and pressure that comes with appropriately handling billions of dollars in investment.
Then you should consider the years of hard work spent working with little to no income that you must put in before achieving success. That is, if you’re one of the lucky few that make it, given than 90% of new startups fail.
However, that isn’t to say that you should stick to office life if it isn’t for you.
If the thought of setting your own hours, working from a pool-side office and little pressure to hit targets sounds idyllic, starting a lifestyle business might be your best option.
What is a lifestyle business?
Lifestyle businesses are perfect for those that have the entrepreneurial spirit of a billion dollar tech founder, but would prefer to live comfortably and have lots of spare time to enjoy life.
Unlike a startup, which aims to do the undone and capture a new, emerging or undiscovered market, a lifestyle business simply aims to provide its founder with enough income to sustain their current lifestyle.
Those in Silicon Valley would laugh at an entrepreneur who is happy simply getting by. However, those who have founded both startups and lifestyle businesses swear that they are happier doing the latter.
Why a lifestyle business is a better option than a startup
Unlike startups, lifestyle businesses tend to operate in developed markets, meaning that there are already customers to target and revenue to be made. With the right strategy in place, you can start turning a profit immediately with little risk of failure.
Likewise, as you won’t be turning to investors to provide the money to build your vision, all income from your new business will be going straight into your pocket. There will be no pressure on you to scale up or increase your ROI, which removes the stress that comes with founding a startup.
However, the ultimate perk is the level of freedom that a lifestyle business allows.
Working nine hour shifts in an office will no longer be necessary. Instead, you can travel to any part of the world and run your business from a sun lounger with a cocktail in hand. As long as you have an internet connection, you can make anywhere your office.
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