The difference of a lifestyle entrepreneur from a business entrepreneur is that the former starts a business mainly for lifestyle reasons and not just to earn money. They want the freedom to work how they want, with flexible hours, from a convenient location, and spend more time with the people important to them.
The success of lifestyle entrepreneurs are judged by how much they love their work and the lifestyle that comes with it, rather than by how much they earn.
This kind of business is called a muse business. It is something that a lifestyle entrepreneur sets up and then it eventually pays for his lifestyle, without having to work the conventional 8-hour shift. However, it may take time to set up this kind of business. It takes more than a couple of days for your hard work to pay off; sometimes even much longer than that. During the time that you’re just starting your business, you may need to put in extra hours, especially when you’re still doing your current job and you can only work on it during the weekends. It is therefore essential that you discover your muse and set it up first. So how is it done?
A muse business has specific qualities.
First of all, it has be something that can be scaled up without investing extra hours because it generally aims to have a flexible working schedule.
It should be easily described yet hard to repeat. This can seem complicated but if you are able to easily describe it then others can do the same as you. What’s important is that it can be easily comprehended by your outsourcing team, so that you don’t have to be monitoring them all the time. Of course it should be difficult to repeat so that your outsourcing team won’t do the same as you.
Obviously, it should be fun. About 90% of people hate their jobs but they choose to stick with it because the “security” of the job gives a sense of stability in their lives. This stability is important for them, especially nowadays where a lot of people end up unemployed.
The only problem with enjoying your business is that you end up investing a lot of time because you actually like it, which is rather ironic since it’s supposed to be a “freedom” business. However, you won’t have to worry too much about it as long as your business has these essential qualities.
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