Why I Had to Have a Lifestyle Business

You may be thinking, “Ugh, those millennials, throwing out made up words and concepts again….

What even is  a “Lifestyle Business”?!” 

Growth Vs. Lifestyle Businesses

There are typically two types of business owners. Those intending to grow an empire and those who prioritize the lifestyle they want.

You may think that those two go hand-in-hand; “I want to grow an empire so that, one day, I can step back and live the life I want.”

A lifestyle business, however, allows the business owner to live the lifestyle they want while they’re running their business. A Lifestyle Business is established with the intent of serving clients while also allowing for a particular lifestyle for the business owner. I had started my “Lifestyle Business” before I ever heard this term and Ink & Olive fits the definition perfectly. 

Before pursuing Ink & Olive full time, I worked in a cubicle, oblivious to the weather outside between the hours of 9:00 and 5:00. That job introduced me to one of my mentors, one of my best friends, and to people who would later become clients of Ink & Olive.

I was not unhappy but I needed a change. Humans were not meant to sit indoors, in front of computers Monday through Friday and I was going stir crazy (with a vitamin D deficiency). 

What kind of change was I looking for? What lifestyle did I want to pursue?

I crave flexibility and want to explore the world before my golden years. Reading Tim Ferris’, The 4-Hour Workweek helped me conceptualize what I want- the ability to take “mini retirements'' throughout the year, rather than waiting for an un-guaranteed future. Tim shares a parable in his book that I quote all the time:

“An American investment banker was taking a much-needed vacation in a small coastal Mexican village when a small boat with just one fisherman docked. The boat had several large, fresh fish in it.

The investment banker was impressed by the quality of the fish and asked the Mexican how long it took to catch them. The Mexican replied, “Only a little while.” The banker then asked why he didn’t stay out longer and catch more fish?

The Mexican fisherman replied he had enough to support his family’s immediate needs.

The American then asked, “But what do you do with the rest of your time?”

The Mexican fisherman replied, “I sleep late, fish a little, play with my children, take siesta with my wife, stroll into the village each evening where I sip wine and play guitar with my amigos: I have a full and busy life, señor.”

The investment banker scoffed, “I am an Ivy League MBA, and I could help you. You could spend more time fishing and with the proceeds buy a bigger boat, and with the proceeds from the bigger boat, you could buy several boats until eventually, you would have a whole fleet of fishing boats. Instead of selling your catch to the middleman you could sell directly to the processor, eventually opening your own cannery. You could control the product, processing and distribution.”

Then he added, “Of course, you would need to leave this small coastal fishing village and move to Mexico City where you would run your growing enterprise.”

The Mexican fisherman asked, “But señor, how long will this all take?”

To which the American replied, “15–20 years.”

“But what then?” asked the Mexican.

The American laughed and said, “That’s the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich. You could make millions.”

“Millions, señor? Then what?”

To which the investment banker replied, “Then you would retire. You could move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”

Why postpone your happiness? While I believe it’s important to plan for the future and have the ability to retire some day, it’s also important to pursue a lifestyle that brings you joy while you’re planning for your future.

The Ink & Olive Lifestyle Business

Not only does my Lifestyle Business afford me the flexibility to work from wherever I have an internet connection, it puts me in control of my schedule, my income, and my business development. While opportunities to make more money and learn new skills can be pursued in an office environment, starting my own business makes me the only person responsible for establishing my value and proving my worth.

In terms of schedule, if I want to log out each day at 5:00, I am responsible for setting that precedent with my clients. My clients are welcome to email me anytime, day or night, and they know that I will respond during business hours (of course, if there is ever an emergency, they know how to reach me). I firmly believe that people treat you the way that you let them.

I also believe that people are allowed to complain, vent, and voice frustrations (what are girlfriends for, right?) but I also believe that once you complain, if you do not do something about the situation, you should probably stop complaining. So, I finally did something about my frustrations. 

How did I turn my Lifestyle Business dream into reality? By having family who believed that I could. By having mentors and colleagues who gave me their support and guidance. Through online classes, Facebook groups, and reading something other than fiction (which this Harry Potter fan girl never thought she would be interested in). 

What does my Lifestyle Business mean for you?

So what does my Lifestyle Business mean for the businesses who put their trust in Ink & Olive?

This business affords me more than an income. It has provided me with a lifestyle that I would do everything to protect. Meaning, I work hard to exceed the expectations of my clients. Work hard and execute projects with a passion that makes my clients want to continue working with me as well as refer me to their friends and family.

And while money is great and necessary, my definition of success is not tied to money, beyond the need to pay my bills. I created this small business so that I can work with entrepreneurs who are as passionate about what they do as I am passionate about social media marketing.

Want to run your own Lifestyle Business? 

Everyone has their own reasons for starting a business and their own definitions of success. Whether you are growing an empire that will rival Amazon or started a business that allows you to stay home with your dog all day, you’re growing something that you should be proud of.

If you’re interested in growing a Lifestyle Business but don’t know where to start, I can help!

Least Commitment: follow Ink & Olive on Instagram for tips, tools, and fun.

Middle Ground: My free masterclass, Start Your Business Today, teaches 5 things you can do TODAY to start growing your own successful social media marketing business that allows you to work from anywhere- whether you want that to be the beach or your couch!

For those who are Ready to Take it to the Next Level: The Social Media Business Academy is a self-paced, online course with Facebook community that shares the totally recreatable steps that I took to grow a 6-figure social media marketing business that has allowed me to work from Germany, Bali, Mexico, Portugal, and more.

Tap here to learn more and enroll!