Lifestyle entrepreneur, as a profession, has come into the limelight in the past few years. However, before we discuss any further on it, it is important for us to understand what exactly a lifestyle entrepreneur is.
What Is a Lifestyle Entrepreneur?
Customarily, individuals discover a career and afterward fabricate their lives around it. The lifestyle entrepreneur does the inverse and assembles their career around their life. With the money they earn from their business, they use it to support their life or pursue their passion.
A “lifestyle entrepreneur” is a person who makes their living on the web. They don’t have a physical area in which they stay and regularly work and don’t necessarily need one to achieve maximum productivity. All they need is a mobile device and internet connection to deal with their business.
They are not tied down to one place, which permits them to work on their business everywhere throughout the world.
What are the benefits of being a lifestyle entrepreneur?
As you are energetic and motivated about engaging in the activity, the likeliness that you will be incredible in it is extremely high. In the event that you are extraordinary in what you do, the likeliness that your business will do really well increases by a large margin. So, you may procure or earn less initially (which is “ordinary” for most new businesses to come into being) contrasted with your last organizational job yet, if you put resources into yourself and focus on your improvement, you will succeed.
What’s more, you get to choose to be happy.
However, as fancy as it may sound, being a Lifestyle Entrepreneur is no easy task. Here are 5 life lessons every Lifestyle Entrepreneur would want you to know:
1. Choose the Lifestyle You Want for Yourself
What do you need throughout everyday life? What are your obsessions and objectives? Would you like to live and work in a RV, venturing to every part of the country? Would you like to live in an underdeveloped nation and build schools?
A business enterprise centered on lifestyle doesn’t need to include travel, although it is pretty common. It can allow you to bring up your kids, care for weak friends and family, or invest energy in a diversion or humanitarian effort. Be that as it may, everything begins with choosing what life you need to lead and afterward constructing a vocation around it. Hence, the most important aspect of building your career as a lifestyle entrepreneur is to choose a very clear and specific life for yourself. You can only start building upon this career path once you have a clear dream that you can constantly work and grow towards.
Ensure that whatever life you choose for yourself makes you happy. You do not have to give up your happiness for anything. However, another important thing you need to realize is that your lifestyle will definitely have an impact on all the people around you. Hence, choose something which will allow you to accommodate both yourself and the needs of your loved ones. It may look like a thin rope to walk upon, but if you move slowly and logically, you shall surely get there.
2. Choose Your Passions Carefully
What makes you happy? Becoming a lifestyle entrepreneur gives you the chance to consolidate your hobbies with your job, which very few people in the world have the chance to do. But, you need to pick out this hobby very carefully. Do something that you are genuinely interested in, and that should make you happy. You may not always have the chance to begin again.
Generally, people feel happy doing something that they are genuinely interested in. You do not always have to follow the trend, just because it is popular in today’s world. If you aren’t interested in it, you might turn out to be terrible at it. Once you find something that you are genuinely interested in, keep building it up around the lifestyle you have chosen for yourself. These are the two most important steps you need to follow.
3. Learn from Your Failures
If you are just starting out as a lifestyle entrepreneur, there are chances that you will face failures on this path of growth and self-fulfillment. Do not let this affect you or bring you down in any way. Instead, view your failures as opportunities for learning, so that you do not repeat the same mistake again. This can help you develop at a much more rapid pace because you have learned to embrace your biggest hurdle towards growth, that is, failure.
4. Decide Upon a Target Audience
Another important decision that needs to be taken by a lifestyle entrepreneur is, what their target audience is. In order for you to be successful, you need to have an audience base that is loyal to you and is interested in your work.
The most significant point is to ensure your intended interest group can bear to pay you. An excessive number of entrepreneurs pick a target audience that intrigues them yet can’t bear the cost of any of their products or services. You are starting a business; there must be a possibility to earn money from it. If you are unable to earn money, then all of your efforts are going to go to waste.
5. Focus on Your Foundation
In order to attract your target audience, you need to have a solid foundation in place. There are many ways to achieve this, such as having a prominent social media presence, ensuring that your website ranks high in search results, or crafting a deeper connection with your audience through a different method. You also need to have a top-notch business management system, which allows you seamless business operations – whenever you want, wherever you are. That said, you should consider to outsource phone answering, bookkeeping, and everything else in between.
Don’t follow the beaten down track, instead try to do something new, which will attract the attention of your target audience.
Also, a foundation is important in terms of finance, as you don’t know when your business might face a slow month due to any circumstances. It is always a good idea to have a certain amount of money as emergency funds, which can help you get through the slow months.