What Is A Lifestyle Business?
That’s a very good question and one that was asked at our workshop yesterday.
There was a picture of a guy in formal attire sitting on a deckchair on a beach with the waves lapping at his feet …
Now we all know that conjures up the the kind of business we would like and that’s what it’s meant to do … but let’s face it no one is going to be dressed like that in real life on a beach!
So let’s answer the question “What is a lifestyle business?” with the benefit of our experience.
In essence, a lifestyle business is one where you ‘work on the business’ versus ‘working in the business’
If you have ever read Rich Dad Poor Dad by Robert Kiyosaki you will have heard of the Cash Flow Quadrant … and if you haven’t then we definitely recommend that you read it and check out.
We have both been entrepreneurs for as long as we can remember and had our own businesses but we were in the “S” quandrant – meaning ‘self employed’ That meant in effect that our business totally relied on us and our time to be successful and make money. We were working ‘IN‘ our business. Whilst we had a good income it was far from a lifestyle business as we were working ‘time for money‘ and if we didn’t work we didn’t get paid. That was definitely NOT a lifestyle business!
Mustafa was a restaurant business owner and his definitely wasn’t a lifestyle business. If he wasn’t there working in the business then there would be no business. It couldn’t run without him.
If you are self employed business owner or an employee then you definitely understand what that means we are quite sure.
Lifestyle Business Explained
Let’s explain a lifestyle business and how you can transition from the E or S quadrant to the B quandrant.
B stands for BUSINESS and better still B stands for a business you work ‘ON‘ and not ‘IN‘
Where you have a business working for you 24/7 365 wherever you are (even on the beach … although definitely not with a computer)
It’s why the idea of having an online business is appealing to so many people and if you are reading this because you are one of those people then congratulations on your decision to become an entrepreneur and move the the ‘B‘ quandrant.
No doubt you are saying to yourself “this all sounds great but how do I start a lifestyle business?
That’s exactly the question we had to ask when we gave up our accountancy and management consultancy business almost 5 years ago now. We saw all these pictures of what was referred to as the ‘laptop lifestyle‘ – pictures of people with laptops in exotic locations and to be honest that really appealed to us so we began to investigate how we could do that. We wanted the freedom to travel and have a business that worked from anywhere in the world and didn’t rely on us 24/7
Do we do that? Absolutely we do. We just got back from Curacao in the Caribbean where we were speaking at a Mastermind and our business was operating round the clock while we were there training and learning. The last 24 months we’ve traveled extensively in the United States and spent time in our ski chalet in the French Alps and our retreat in the Costa Del Sol Spain.
Can you do that too? We believe so if you are prepared to learn new skills and set up your foundations. Travel may not be ‘your thing‘ so make sure that you are clear on what is ‘your thing‘ so that you do what it takes no matter what.
If you have ever read The 4 Hour Work Week by Tim Ferris then you should certainly get your hands on a copy because he has the lifestyle business model perfected through automation and outsourcing so that he literally can work just 4 hours a week.
If you are prepared to put in the effort to transition from the E or S quadrant to the B quadrant then you too can join those already experiencing a lifestyle business.
We’ve a video you can watch that explains how to do this and how you too can become one of the business owners who control 85% of the world’s wealth …
We look forward to seeing you there
Who Are We
We’re former accountants of a certain age with 5 great kids and 3 grandchildren. We love skiing and traveling the world and have achieved a fabulous life helping others to start and build a successful 6 figure business online and now speak on international stages following our passion. Our business is centered on online marketing education and wealth creation and a desire to help you create financial freedom online.
Authors : The Mindset Shift
Skype : chrisbeesley1 susanbeesley1
Mobile/Cell: +44 (0)7802857551
Email : email@example.com
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