Lifestyle Business? If you haven’t heard the term before — fret not. It is not important. You can happily go back to do what you were doing right now and won’t have missed anything. In case you actually have heard someone use the term before I wonder in which context you heard it.
The term describes a business which is built to support a lifestyle (in other words: it pays your bills). Sounds like a pretty solid idea, right? A business which pays your bills. Not bad. Most startups never reach that state. They fizzle out before making any money. And yet people, especially in Silicon Valley use the term in a snotty, derogative way: If you build or have a “lifestyle business” you are not a real entrepreneur. You don’t build your company to be sold or taken IPO. You merely build it in a way which pays for your bills (and the bills of your employees if you happen to have some).
This is bullshit.
I have friends who bring home multi-million dollars per year with their “lifestyle” businesses. They employ people, they are good to their employees, have fun doing what they are doing and don’t give a shit about some Silicon Valley startup person calling them lifestyle businesses.
Don’t let people put you in a box. Do what you like doing and if that happens to collide with the skewed world view of some of your peers… well… F’ THAT! :)
Build What Matters.