Lifestyle entrepreneurs are people who tailor their business to support the lifestyle they want. Learn more about how lifestyle entrepreneurs differ from other entrepreneurial styles.

What Is a Lifestyle Entrepreneur?

Lifestyle entrepreneurs decide the lifestyle they want to enjoy and then build their business in a way that supports it. It works differently than other entrepreneurs who put their business first and then design their lifestyle to accommodate it.

Lifestyle entrepreneurs place a high value on freedom (such as working specific hours or traveling as they see fit) as well as passion. They may just want to work enough to earn a certain income which in turn supports their chosen lifestyle. so they may not pay much attention than other entrepreneurs. 1

  • Alias: Lifestyle Business Digital Nomad

How Does a Lifestyle Entrepreneur Work?

Traditionally people find a career and build their lives around it. Lifestyle entrepreneurs are the opposite: they build their businesses around their lives. Their businesses make money but the money goes to support their passions and goals.

While home businesses have been around for a long time the internet allows people to start and run a global business from anywhere in the world — even while traveling. Cloud computing smartphones and laptops help lifestyle entrepreneurs work on the road.

For example Natalie Sisson author of The Suitcase Entrepreneur created a business that supports her love of travel. She provides guidance and information products for other entrepreneurs who want to lead a travel and freelance life. She conducts her business using her phone and laptop allowing her to Travel freely and pursue the lifestyle she loves.

Likewise lifestyle entrepreneur Tim Ferriss sells books and podcasts about entrepreneurship and personal development. He is best known for his book The 4-Hour Work Week which teaches readers how to build a career that emphasizes lifestyle over work. his business supports his income goals and His lifestyle influenced his commercial products.

How To Become a Lifestyle Entrepreneur

To become a lifestyle entrepreneur you need to develop a roadmap for your success. The following steps show you how it is done.

Decide on the Lifestyle You Want

You first have to decide the lifestyle you want to design your business around. You might ask yourself the following questions:

  • What do you want in life?
  • What are your passions and goals?
  • Do you want to live and work while traveling?
  • Do you want to simply earn enough money to support bigger missions?

Lifestyle entrepreneurship doesn’t have to involve travel. It allows you to raise children care for a sick loved one or spend time doing hobby or volunteer work. But it all starts with deciding what kind of life you want to live and then building a career around it.

Pinpoint Your Passions

What are you passionate about? In some cases you may be able to combine your passion and your business. For example if you love food and travel you could build a lifestyle business around a travel food blog.

Brainstorm ideas that align with your passion

There are basically three ways to make money: sell your skills sell physical products or sell information.

Use your passion checklist to come up with business ideas that involve making money from it. For example if you love gardening some money-making ideas could include a gardening business (selling skills) selling gardening tools (physical products) or selling gardening courses (information).

Research Your Ideas

Pick some of your most important ideas and research if they can help you create the life you want. If they don’t give you the freedom to pursue the lifestyle goals outlined in the first step then they’re not the home business you want.

Things to consider are portability (if you want to travel) flexibility and income potential. You also need to determine if there is a market for your idea.

Develop a Business Plan

List what gets your lifestyle business off the ground. The base includes a website and an email list service. But you also need to think about what you offer and how you offer it. In this step you want to list all your to-dos and equipment need to start.

Next write down your lifestyle business plan. This should include all the details that go into a traditional business plan such as your product and service idea financial marketing etc. However you also need to pay extra attention to make sure it supports the life you want.

Take Care of the Paperwork

Obtain any permits and licenses necessary to set up a business structure and conduct business legally. If you plan to become a travel lifestyle entrepreneur you still need to choose a place to call home. Even if you don’t live there most of the year you need a place to live will be listed on all your business documents.

If you are an expat or want to live abroad consult a lawyer or accountant for advice on establishing a residence outside your current country. If you’re going abroad or traveling you’ll also need to consider banking and other financial details.

Develop Pricing and Marketing

Set pricing for your product or service. Make sure you charge enough to fund your lifestyle goals but not so much that you have no market willing to pay your price.

You will also need to build your website and email marketing channels. This is essentially your business center. This is where you market yourself and your products and services.

You need to define your ideal client/client figure out the best places to reach them and create the materials and systems to get your business in front of them. Emails social media blogs interviews podcasts and videos are all great ways to promote your business.

Automate systematize and outsource as much as possible

Automation can include things like after-sales digital product delivery or social media scheduling tools.

Systems are the processes that run your business seamlessly. They can include lead generation systems sales funnels and sales processes.

You can hire one (or more) virtual assistants to manage many day-to-day aspects of your business such as customer support social media management public relations and marketing and bookkeeping. The more work you can delegate to others the more time you can spend on your lifestyle goals.