First, let’s talk about what a “lifestyle business” is. My guess is that your definition of a lifestyle business is different from the next person’s, just like your definition of success is different from one person to the next.
That being said, here’s my definition of a lifestyle business. I have the freedom and flexibility in my business to live my life the way I want. Freedom means both time and money. My lifestyle business has to bring me joy, freedom and profit!!!
Here’s what it means for me:
I’ve taken time to DEFINE what my lifestyle business needs to give me:
- Financial freedom to leap into opportunities such as my upcoming Great Canadian Adventure.
- Time freedom to take afternoons or mornings off with hubby to go boating or visit my mother-in-law in Montreal.
- Flexibility to work with exactly who I want to work with (say no to some; yes, to others).
- Joy to be a happy and profitable CEO of my business.
- Flexibility to work from wherever I can find good internet.
My coaching and consulting business is very different from my previous retail store where I was tied to it 24/7/365. After 12 years in retail, I knew that I would NEVER build a business that way again.
I would never be on the hustle hamster wheel.
I would give up wearing a BUSY badge of honor.
I would never hate anything I did in my business!
Please share with me your idea for YOUR lifestyle business.
If building a lifestyle business is for you, here are 3 key elements that have brought me more joy, freedom, and money in my business:
- CONNECTION/COMMUNITY
This past year has shown us the importance of connection. People are craving being part of a community. Some of you might call this relationship building; others of you it might be how you show up in your audience’s world!
But all successful lifestyle businesses require strong connections.
Questions to ask yourself:
How can I create MORE amazing connections?
How can I create ‘community’ – whether it’s online or offline?
- DIFFERENTIATION
Whether your business is online or offline, the days of vanilla or boring marketing are gone. People are so much savvier today and there is so much more noise in the online world, you need to appear to be different. You are competing in a global market and your marketing sounds like everyone else’s – you lose; you won’t get hired.
Questions to ask yourself:
How can I become the go-to-expert in my field AND share my BOLD point of view on my subject matter?
How can you create your own assets (i.e. like my Grow-meter)? Doing this demonstrates you are a thought-leader, someone different.
How can I do the difficult things that my competition isn’t willing to do?
How can I embrace what makes ME special? Sometimes we don’t realize that we are falling into the sea of sameness!
How can I create consistent content that helps me stand out from my competition?
- SUPPORT TEAM
From experience, I know that I never could have created the success that I have without a team. A team could mean any person who supports you. For instance, my husband is my bookkeeper; before COVID, I had a housekeeper; my VA is my angel of all things social; and my tech gal is all things tech. They are my team. They support me.
Questions to ask yourself:
How can I get more freedom, flexibility and joy into my life and business with more (or improved) support?
Who do I need to add or subtract from my support team to give me more of what I want in my business?
There you have it – 3 proven elements that will help you bring more joy, freedom, and money into your business.
I’m curious to read your answers about what your lifestyle business would or does look like.
If you would like help taking your lifestyle business to the next level (more joy, more profit and less work) then, I’d love to have a virtual coffee with you!
YOU CAN DO THIS!!!
Diana
P.S. Remember, these aren’t the only things you’ll need to run a successful business!
If you’d like some help answering these questions for your business, please schedule a virtual coffee now and we will chat after I return from my Great Canadian Adventure!
