Lifestyle & Business –can you have it all?

For a long time I wasn’t doing work I loved. It felt like something was missing in my life (to be perfectly honest, I didn’t really live!). I wanted to be able to travel, to learn new languages and be in control of my time.

I started my first own business in 2002, I was just 21 years old. In my first few years of entrepreneurship I spent thousands of euros and hundreds of hours making mistake after mistake. I’ve gone through periods where I really suffered and where I wanted to throw the towel. And that as time went on, I had actually become what I disliked most in people and became the person I myself had always feared. I never gave myself any breaks or time off, and sacrificed my own happiness and health (the bill I paid for it at the end was very high!) for a corporate lifestyle.

Years (of suffering) went by and then I realized I had to make a change in order to find true happiness. I always wanted to run a business that revolved around my life and contributed something positive to the world –and I did, by changing my perspective, my business model and my definition of success.

I chose the lifestyle business model, and today things are different.

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For me, I’m creating a business that provides enough financially to cover my bills and allow me to live without needing to worry. To be able to live in a wounderfull house, to go out for shopping or dinner and choose what I want without stressing about the price. To work with people I want to work with, who coaches me and support my growth. To travel the world and work from the places I like. Or to take time out whenever I want, and to go on the occasional weekend away or have a vacation.

Just as importantly, I’m creating a business that allows me to walk the dog for an hour in the middle of the day; to take care of my health and my fitness and the things at home; to cook healthy meals for myself or to take a few hours off to meet friends for lunch; to focus on what I does best; to answer business calls on the beach in Tel Aviv, or run my busines from a nice coffee place in New York City.

 

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Sounds impossible, right?

Well, many people dream of doing what they enjoy every day, and making a good living from it. But only a small percentage believe this is actually possible. People ask me often, how can you have fun and work profitably at the same time? The secret lies in the type of business you create. Instead of launching a startup and growing a major corporation, a lifestyle business will give you the opportunity to optimize your life for happiness.

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At this point I’ve got a confession to make -I’m not striving for world domination. That might sound strange, because so many people who embark on entrepreneurship do it because they’ve got really big ambitions. They want to make millions of dollars, and live in massive houses. Please don’t get me wrong, I have ambitions as well and I also have big goals and big dreams. I want to build a successful company and live abroad for a while. I want to continue to travel the world (there are still so many places to discover!) And I’d definitely like to live in a big house (by the sea – please!).

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But I’ve got a totally different goal for my life, long term – primarily I’ve striving for work/life balance instead of striving for the big money. Of course, there is nothing wrong with having big goals though, but with the time I have found out that there is no point spending our entire lives working, to make money, but never to enjoy it. What’s the point of working constantly, striving to make more and more and more money, only to spend it on stuff that doesn’t really matter, instead of spending time with your loves one, or taking a Friday off when it’s a sunny day?

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What really defines happiness and success? Everyone has a different answer, but I can tell you one thing that most would agree on: money does not solely define success and certainly cannot buy happiness. So, that why I choose a lifestyle business. This business model allow me to live the life I want to live, how I want to live it.

 

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What, exactly, is a lifestyle business?

The concept is simple: a lifestyle business is a business in which you make a reasonable living, and you have the freedom to do all the things you want, when you want. The primary purpose of a lifestyle business is to make a certain level of income that will allow you to live the lifestyle you desire. But more than for financial gain, it is set up for personal and lifestyle reasons rather than maximizing revenue. But the business should also be lucrative enough to allow the lifestyle you desires without having to sacrifice a personal life. The major goal of a lifestyle business is to create a sustainable and pleasant work/life balance.

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The type of business may also be selected on the basis of personal interest and passion too, so that time spent working is enjoyable. I’m a real believer in following your passion and finding things that are new and innovative within that passion to keep the flame burning.

And to clear up with the prejudices -focusing on lifestyle doesn’t mean you’re not successful! Success comes in many different ways. It is a misconception that the only way to make money is to launch and then grow a startup with the aim of selling it later. A good lifestyle business could even be turned into a multi-million dollar company, if that’s what you want. Running a lifestyle business certainly doesn’t mean you’re going to end up being poor; it’s all about priorities.

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Success can mean something different for everyone. If you want to live in a million-dollar beach house with plenty of toys and expensive cars, so you would need to build a business that supports that. Alternatively, you might prefer to travel the world with only a backup, so probably living off 2k per month is more than enough. The choice is yours.

Life is for living. It is not for waiting. Decide on the lifestyle you want and build a lifestyle business around it.

You only live once, so make it count!

Until next time,

Magdalena

 

Ps. Do you already have a lifestyle business or want to start one? Please leave me a comment with any questions, doubts or insights you may have.

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