my lifestyle ka business plan

Lifestyle Business Plan Template & Guidebook

Are you looking to start and grow a successful lifestyle business? If so, then our The #1 Lifestyle Business Plan Template & Guidebook can help! This comprehensive guidebook provides all the resources and information you need to create an effective business plan that outlines your long-term goals and helps you achieve success. With step-by-step guidance, tips from successful entrepreneurs, and a customizable template, you'll be well on your way to launching your new business with confidence.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Lifestyle Business [11 Steps]
• 10+ Best & Profitable Lifestyle Business Ideas [2023]

How to Write a Lifestyle Business Plan in 7 Steps:

1. describe the purpose of your lifestyle business..

The first step to writing your business plan is to describe the purpose of your lifestyle business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a lifestyle business:

Our mission is to provide our customers with the highest quality, innovative lifestyle solutions that will enable them to live life more fully. We strive to create products and services that are meaningful, sustainable, and accessible to everyone so that they can achieve their highest potential. We will always hold ourselves to the highest ethical standards and corporate responsibility, while providing excellent customer service.

2. Products & Services Offered by Your Lifestyle Business.

The next step is to outline your products and services for your lifestyle business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your lifestyle business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your lifestyle business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your lifestyle business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a lifestyle business?

Equipment: Depending on your business, you may need computer equipment, a printer and scanner, physical office space, furniture, and other special supplies. Supplies: You may need things like office supplies (pens, paper, etc.), marketing materials (business cards, flyers), equipment replacement parts and repairs, etc. Permits: Depending on where you live and the type of business you intend to run, you may need to obtain certain permits from the city or state. This could include things like a business license or a permit for selling certain goods or services.

5. Management & Organization of Your Lifestyle Business.

The second part of your lifestyle business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your lifestyle business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Lifestyle Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a lifestyle business varies based on many different variables, but below are a few different types of startup costs for a lifestyle business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your lifestyle business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your lifestyle business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your lifestyle business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Lifestyle Business Plans:

Why do you need a business plan for a lifestyle business.

A business plan is a written document that outlines the goals and objectives of a business. It is important to have a business plan for any lifestyle business, as it helps you to focus on the core values of your venture and assess potential areas of growth and profitability. A business plan also helps you to establish realistic timelines and resources that are necessary for success. Having a business plan also serves as a guide for investors, as it outlines the venture’s financial requirements and potential returns on investment.

Who should you ask for help with your lifestyle business plan?

You should ask a business consultant, a financial advisor, or an experienced entrepreneur for help with your lifestyle business plan. Additionally, local small business development centers, SCORE chapters, and even your bank may be able to provide assistance.

Can you write a lifestyle business plan yourself?

Yes, it is possible to write a lifestyle business plan yourself. Writing a lifestyle business plan involves a significant amount of research and planning. It requires that you evaluate your current skills and resources, understand the needs of your target market, and create a strategy to meet those needs in a profitable way. Additionally, you'll need to devise marketing strategies, assess risks, and create financial projections to ensure the sustainability of your business. Writing a comprehensive lifestyle business plan can take some time, but with proper preparation and dedication can be achieved.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

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Jase Rodley

Lifestyle Business: Ideas, Examples & How to Get Started

last updated on April 30, 2021

Where most people are chasing the next promotion or seeking millions in funding for their tech startup, lifestyle business owners walk in a different direction.

If you’re like me and pursue a more fulfilling life with greater control of your time, all while allowing flexibility to work from anywhere in the world, a lifestyle business might be a good fit.

It’s not all working from your laptop at the beach for an hour a day, as some self-proclaimed gurus might tell you though. You won’t be quitting your job this week and vacationing in Bali the next. When executed well, however, you are eventually left with more time on your hands to do the things that matter.

I’m not here to sell you on the idea of lifestyle businesses. The truth is, it’s not the right fit for everyone. But if this sounds like a life you want to build, I hope this article gives you insight into this form of business, along with some ideas and examples to help you to get started.

Table of Contents

Why Should You Listen to Me?

I didn’t intend on creating a lifestyle business; it just kind of happened. What started off as a website to practice my knowledge of SEO ended up becoming an affiliate website that took off on its own.

That’s not to say I hadn’t considered the idea of a lifestyle business beforehand. I found my inspiration inside the pages of The 4-Hour Workweek, a book that is heavily criticised but is a great reminder to “keep it simple and outsource everything”.

It answered some questions, prompted some other questions, but more than anything else—it got me thinking.

My first website showed me it was possible. The skills I developed while building that site helped me to begin consulting, which gave me the freedom to leave Australia to live in a location more in line with my and my wife’s goals. Later, I built a small Fulfillment by Amazon business, and after that some productised services, rank and rent websites, and larger affiliate sites.

I am no expert. But I have learned from taking action. Failure preceded any of these small successes but has brought me to where I am today. I encourage anyone who wants to build a lifestyle business to research what others have done, not the story they are selling.

What Is a Lifestyle Business?

In the simplest of words, a lifestyle business is any business that supports and enables the lifestyle you want to create. That may involve working from your home during the time of day when you have the most energy, or while traveling the globe. The choice is yours.

We can all debate what really qualifies as a lifestyle business. For some, it involves an online store and for others, it’s a weekly podcast.

That said, I’d like to point out that a lifestyle business works best for certain kinds of people. If climbing the corporate ladder and building a million-dollar enterprise gets you excited, then perhaps a lifestyle business should not be at the top of your list.

But if you seek a stable income that supports your lifestyle without giving in to the hustle of a 9-5, then you’ll find many benefits here that your spot in a cubicle won’t provide.

Lifestyle Business vs Startup: What They Don’t Tell You

It’s easy to see why many people confuse startups and lifestyle businesses. They’re both new ventures that you’re going to be putting time and effort into.

But while startups focus more on rapid growth, lifestyle businesses take a different approach.

Let’s Talk Funding

Unlike startups, you probably won’t need any venture capital for your lifestyle business. This is good as you’re responsible only for yourself. Lifestyle business owners rely on personal funds, savings, or small business loans—though the latter isn’t as common.

You’ll have more room to work at your own pace on your own goals without having to worry about any “aggressive growth” investors breathing down your neck. This takes away a lot of the stress which comes with starting your new business.

9-to-5 Commitment

Don’t let the high-end lifestyle fool you. Funded startups are a full-time job that is all-consuming. From hiring the right people to making sure they are constantly hitting targets, if you don’t own 100% of the shares, it’s unlikely you’ll own 100% of your time.

A lifestyle business can be a breath of fresh air for those looking to get away from this never-ending hustle. Being in charge of your own schedule is liberating and once you have a lifestyle business that’s automated (either using computers or people), you can greatly reduce your time commitments too.

Risky Business

There’s a certain amount of risk that comes with startups. For every startup that makes it big, there are a hundred others that bite the dust. That shouldn’t deter you if building a startup is something you really want, of course.

On the other hand, you’re likely to have less overhead costs as a lifestyle business and this works well for entrepreneurs who aren’t too keen about putting everything on the line.

6 months ago, before much of the world was locked down with this COVID-19 situation, many people may have been dreaming about multi-million dollar exits. Today things are very different.

Many high-profit low expense lifestyle businesses have been able to adapt and remain viable, whereas many businesses that relied on future gains from high valuations by reinvesting everything and taking on debt have faced much greater challenges.

Why I Like Lifestyle Businesses

Not all businesses are created equal. When faced with the choice of enjoying additional free time or earning more money, many lifestyle entrepreneurs will choose to reclaim their time.

That doesn’t mean your business can’t grow its revenue though.

In fact, this sort of flexibility is what makes lifestyle businesses so versatile when compared with a traditional business.

Big, Small and Everything Else in Between

A lifestyle business is whatever you want it to be.

“When you make a company, you make a utopia. It’s where you design your perfect world.” DErek sivers

You may only want to commit 6 hours a week this month and go full throttle the next. There’s no pressure of doubling sales every month unless that’s what you want.

Being able to scale up or slow down is not something a lot of businesses can brag about. The fact that you can fine-tune all these aspects is why lifestyle businesses have a growing appeal.

Less Waiting, More Living

With a business that’s set up to serve your lifestyle, you get to really live more. This can mean taking extended vacations or finally getting back to a hobby you’re passionate about. In many cases, it results in turning that passion into another lifestyle business.

You may not have to wait around to enjoy the profits of your business either. While startups and corporate business models take years to see make profits, this can be much quicker for lifestyle business owners. When you don’t have an entire enterprise to fund, you can likely fund your living expenses much faster.

Location Independent? Hell Yeah!

If you could work from literally anywhere in the world, would you? Most I know would grab that opportunity without batting an eyelid. But location independence is much more than bragging on Instagram.

If you play your cards right, becoming a location independent entrepreneur can open a lot of doors too. You can travel to expand your network opportunities and meet like-minded people who share the same vision as you.

I’ve been lucky enough to meet clients, business partners, and friends in too many countries to count nowadays. Lakeside meetings in Whistler, hotala drinking sessions in Taipei , conference coffee breaks in Barcelona, and complex many-course team dinners in Bangkok have all contributed in some way to my businesses today.

You can also use this independence to be more efficient. If you aren’t spending 2 hours traveling to work every day, that time can now be spent growing your business or with your family.

Do lifestyle businesses have to be location independent? Nope, not at all. I remember a burger bar in my home city. They’d close whenever they felt like it, without warning.

I recall visiting once and there was a sign on the door saying “Closed because I feel like it.” I got the impression the owner just ran the business for some extra cash but mostly so they had a space for parties and social groups. It was their version of a lifestyle business and given how long they’ve been in business, it must work for them.

Starting a Lifestyle Business: What You Should Know

Instead of jumping right in and trying to find the “right” business, take a moment to pause and think about the kind of life you want to design.

This is always tricky because traditional business wisdom says to “build what your customers want”. I’ve done that before, without considering what I wanted, and it wasn’t ideal.

But you can’t go to the other extreme either and only design something for you, either. You really need to find a middle ground where you are providing a product or service that people want, in a scenario that you also want.

How many hours of work do you want to put in? What sort of work do you see yourself doing? Write it down and get clear on these things.

Once you’ve got a good idea about what you want to create, you can filter these ideas until you’re left with something that suits your goals.

Ideally, you’ll want to minimize your involvement in day-to-day operations of your business. For some businesses, this involves hiring, but you can also work to automate as much of your business as possible.

This way you can spend your time working on your business, not in your business.

Remember, you are aiming for flexibility and time freedom so don’t spend the same amount of time in an operational capacity as you would at a regular job—it’s counterproductive.

Play to Your Strengths

All your skills and interests can be utilized when building a lifestyle business. You could be a master at digital marketing and it would be a crime not to use this expertise to get your business noticed. 

A common mistake I see many entrepreneurs making is jumping aboard a business idea that has little to do with their profession or hobbies, just because it’s “trendy”. Trends come and go, you don’t want to spend effort growing a business that is only relevant for a few years.

Instead, put your skills to good use and do the one thing that guarantees results—creating value. It doesn’t matter how passionate you are about your idea. If your clients or customers can’t see the value, chances are it won’t work.

Ideas for a Lifestyle Business

Lifestyle businesses aren’t limited to blogging and starting an ecommerce business. While these are some of the popular examples, there are plenty of other options.

In my view, freelancing doesn’t really count as a lifestyle business though some may argue otherwise. The same goes for consulting, as it has a direct relationship with your time. They really aren’t very different from a regular job (apart from being location independent).

That said, if you can charge a high hourly rate or subcontract the work, it can be an interesting way to gain some location and time freedom which can then give you an opportunity to build your lifestyle business—a stepping stone if you will.

So what are some examples that you can tap into? Below are a handful of lifestyle business ideas to get you started. Remember this isn’t an exhaustive list, just some ideas that I feel work well.

Affiliate Marketing

Affiliate marketing is fairly straightforward and quite popular because of it’s low barriers to entry. It works by promoting someone else’s product or business using some form of tracking, like an affiliate link or a coupon code. Whenever someone purchases the product and you’re attributed to the sale, you earn a commission.

The best part about affiliate programs? You don’t have to spend time creating or supporting the product.

What few people seem to mention, however, is although it’s easy to get started in affiliate marketing, it can take a while to earn a decent income from it. If you’re relying on organic search traffic, the learning curve is steep and even then you might need years of effort before earning more than just beer money.

This said, if you can dominate in Google for affiliate marketing niches, your SEO skills are probably good enough to dominate in almost any other business model too.

This sort of marketing works for both digital and physical products but the profit margins for digital products are generally higher. In many cases, they also bring recurring commissions, which can really compound over time.

Amazon FBA Business

Fulfillment by Amazon (FBA) is probably one of the easiest ways to get started with a “legitimate product business”. The most lucrative opportunity is to “private label” your products—where you find quality products, put your logo and own packaging on them, and then ship them to Amazon.

After creating a listing in their system and sending your products to Amazon’s fulfillment centers, they pretty much do the rest. Once you get a sale, Amazon handles everything from payment processing, delivery, customer service, and returns.

The power here is in leveraging Amazon’s enormous customer base. If you’re someone who enjoys sourcing products and dealing with logistics then you’ll enjoy running an FBA business.

The downside of this business model is that there are some fairly significant startup costs. Aside from purchasing and shipping your product, Amazon takes a sizable cut. But if you do it right there’s a lot to earn.

Most FBA sellers I know are “paper millionaires”. Their cash is tied up in their business, so often they have to sell that business to get their payday and become a “cash millionaire”. 

Become an Investor

Obviously, this isn’t for everyone. But if you have a decent chunk of change you can structure yourself in a way where you can live off of your investments. Instead of sitting in cash, developing the skill of investing and building confidence in that skill can turn into a semi-passive lifestyle business itself.

There’s no rule book on how to invest well. It all depends on your personal goals and your risk profile. I view this form of lifestyle income as a freedom fund . Many choose low-cost index funds, but property investments and dividend stocks might be more suitable if your goal is to generate income.

Personally, I see a lot of potential in investing in websites as I have the experience to be able to operate them. You can either put in the time and effort to grow them yourself or get some help by outsourcing the work. Either way, it’s a great learning process that can yield crazy returns.

Become a Value Added Reseller

Value-added resellers (VAR) take an existing product or service, add a complimentary service, and then resell the product. The key here is adding value to what already exists.

This business model is popular in the IT sector where you can bundle up software and provide a package for your customers. However, you can find opportunities to become a VAR in many other industries.

When you put emphasis on adding value, people will pay well for services that make their lives easier while saving their time. If you have a great idea that could bring genuine value to people but don’t have the underlying infrastructure built, this could be a good business model for you.

Brick and Mortar Business

Who said your lifestyle business could only be online? Brick and mortar stores have an unfair advantage—a physical location where customers can visit you.

The important thing to remember here is that you don’t have to be physically present at that location—that’s what hiring the right people is all about. Once you have solid processes in place, you should be able to operate remotely and focus your time on growing your business.

And if you’re out there thinking “Do physical businesses even have that much opportunity nowadays?”, the answer is yes. Online shopping may have grown leaps and bounds, but it can’t replace the experience of shopping in person, which some people greatly prefer.

Customers can speak to the employees there, test out the product they’re interested in, ask questions, and finally take home their cool new purchase—that day itself.

In fact, many online retailers have opened up brick and mortar stores to tap into the benefits of traditional retail. As long as your business is able to cover the additional costs for rent and utilities—you can end up building a much more defensible business than one that only has an online presence.

Create an Online Course

We’re all experts in something. Even if you feel you aren’t, it’s not that hard to become an expert. Hell, somehow I’ve become an expert on relocating to Andorra just by moving here and writing about the experience. Why not share this information and get paid while you’re at it?

Businesses selling online courses can give you the time freedom you’re looking for since, once the course is made, you don’t have to be present.

That’s not to say you won’t have to put in any hard work and research. But it’s a great example of an automated lifestyle business where, once built and organically marketing itself, works for you while you sleep.

With the growing demand for online classes and courses (especially during COVID-19) you can ride the wave of online learning and create valuable courses in your area of expertise. Platforms like Udemy and Coursera have established audiences and tools that allow you to sell your online courses with ease.

Productised Services

As the name suggests, productising refers to bundling your services into easily digestible solutions that have a fixed price, features, and benefits—just like a product. Think of this as advanced level freelancing and systemizing your strengths.

This is something I’ve done over at Dialed Labs . Where previously I used to sell custom bespoke packages that required days of work on a proposal, now I just sell flat rate products. An example of this is doing keyword research which is built into a content plan.

Instead of needing to have 18 coffee meetings and 3 lunches to close a deal, now I just say “we do all keyword research and plan out the content you need, give you a reference guide, and a standard operating procedure (checklist) for a flat rate of $500.” No proposals, no scope creep, just executing.

Why should you productise your services? Because it makes things easier for everybody. Your clients will be more inclined to buy a product that clearly describes everything upfront—from it’s features to its costs.

Instead of searching for these solutions as part of a complex, bespoke package from an agency that doesn’t actually know it’s own prices, you’re allowing them to choose what they need from your menu.

As for you, imagine saving all that effort spent going back and forth, trying to create a custom experience every time.

Rank and Rent Websites

Just as you’d rent out space in the real world, renting a space in the digital world is possible and more popular than you’d think.

Building and marketing a website from scratch can take years and not all businesses have the time or resources to get that done. Ranking a website in Google, for many small businesses, is just too complex for them to consider (even if it’s in their best interest).

My other company, Dialed Labs, sells SEO services . There’s a distrust when buying SEO services (which is fair, thanks to the industry’s sometimes shady practices).

Although I know we can help some small business owners, telling them “you give us $X each month and in 6 months we should be able to get you more traffic, leads and revenue as a result”, is clearly a big leap of faith for them. I’m passionate about being transparent, but man, it can be a tough sell.

Compare that to ringing a prospect and saying “Hi, I see you sell legal services in Austin, Texas. My website ranks number 1 in Google for divorce lawyer austin tx and around 1250 people per month visit the site. Want to pay me $1000 per month to put your company details on this site? I’ll send you an email with a payment link and I’ll have your details on the site within an hour.”

Easy money.

What does this mean for you? You’ll have to buy a domain, nurture and optimize it like you would an affiliate site, and ensure that it has good rankings in Google. Once your website ranks well, you can rent it out to businesses in a way where they then receive the sales leads.

What I love about ranking and renting websites to local businesses is that like affiliate sites, you own the asset. This gives you total control and freedom about how you optimize your website.

Another thing I love about rank and rent websites is that they continue to grow while they’re being rented. By the time you rent it to your next client (assuming the first one ever leaves), you should be able to charge a higher rental rate than the last.

Write a Book (Or an eBook)

Contrary to popular belief, you don’t have to be an established author to write a book. If you have sufficient knowledge on a topic or have a cool idea for a fiction novel, a book could be the right fit for you.

They don’t have to be incredibly long; readers today prefer books that are short yet informative. And if writing doesn’t seem like your cup of tea, there are a number of talented ghostwriters out there who can do it for you.

Once you have a number of books out there, this can turn into a great source of passive income. It can also be a great way to launch new lifestyle businesses, like a productized service as often you’ll be seen as an expert in that field.

Get Started by Testing Your New Business Idea

Before you start pouring your time and money into your new business idea, you’ll want to validate it. What you think could be an instant seller might actually be a dud.

Instead of leaving it up to good fortune or plain guesswork, you’re better off proving demand first. I see 2 clear ways to validate your product without breaking the bank.

The Direct Approach

No matter what your product or service, talk to your immediate network, and get their feedback on it. Successful entrepreneurs know this all too well and will reach out to their friends and network first.

You’ll note I don’t say family. Sometimes you can get poor feedback from your family where either they are too supportive and pay too much for a product they don’t actually want, or are overly critical because they want you to “be realistic and get a job like everyone else”.

The “direct” approach works for a number of reasons. For starters, you get to validate your product. You’ll soon realize if there’s even a demand for your product in the first place.

More importantly, though, you’ll get brutally honest feedback about your product, from its quality to its pricing.

Are people going to pay that much for your product? Maybe they love it and would be happy to pay more. What if you made it in blue but they would prefer it to be red? You just don’t get this kind of feedback from the internet where they either buy it or they don’t.

You won’t know until you actually put yourself out there and review the feedback you’re getting. And what better way than to target people who you can ask today?

The Audience Approach

Another route you can take is to first build an audience, and then look for ways to monetize it.

In theory, this method works well, but it’s slow. To avoid making life difficult for myself, I like to prove demand first as part of my business idea evaluation process . This involves using my SEO background to do keyword research and be sure that people are searching for my product or service.

It’s more difficult to get feedback when developing a product using this approach. With a loyal audience though, it is possible. If thousands of people are visiting your blog each month, you can always ask them to vote on a new idea, or ask for feedback in your comments.

Once you’ve established this relationship with your audience you can introduce your product or service and find out for sure. If these people feel as though they have contributed to what you are selling, sometimes your audience members can turn into evangelists who help sell your product to others.

Building a Business You Are Proud Of

While it’s nice to dream of exotic vacations and 4-hour work weeks, there’s so much more to lifestyle businesses that I wish people spoke about. Because in all honesty, if you never had to work another day in your life—you’d get bored quickly.

Most people I know try to run away from the grind not because they hate the work itself, but because it leaves them with no time to enjoy the rest of life.

But with a lifestyle business, all that hustle and hard work make sense. You’ll see the returns not only financially, but also with the flexibility and freedom you’ve been chasing.

Besides, if you’re already putting in that much time and effort into your day job, you may as well put some time into growing your own assets too. It’s hard work at times but it pays off, and more importantly, it can bring great satisfaction.

I’ve had my fair share of jobs, been a freelancer, and built a marketing agency, a lot of which I didn’t enjoy. Building lifestyle businesses hasn’t always been easy, but I find it far more rewarding and in line with my personal goals.

If you’re looking to add more living into your life, I think you’ll feel the same.

Reader Interactions

June 11, 2020 at 12:23 pm

What an awesome read!

I’m feeling inspired 😉

December 29, 2020 at 6:07 pm

Very informative and educative. I’ve been quite fired up to pursue my dream life!

January 20, 2021 at 2:23 pm

I absolutely loved the directness of this information… no uncertainties about it! Gave me loads of clarity, thank you. So grateful for the time you have invested in this article.

February 8, 2021 at 9:32 am

Great Read!

January 20, 2022 at 2:32 pm

This is the first article in too long that calmed my over-active hive brain and had me read the words in the correct order from start to finish.

Thanks for all the advice.

May 21, 2022 at 8:57 am

First class article. Small fish are sweet. Why chase start ups and listings? With a million a year one can fund a first class lifestyle and fuel an asset accumulation program that will beat 95% of startups. You are so right about the loss of freedom and the incredible stress when you raise capital and or go on to list. I say the creative little entrepreneur wins most of the time.

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How To Launch A Successful Lifestyle Business (Real Examples)

The 9-5 life isn’t for everyone. Fortunately for you, this guide will cover everything about starting and growing a successful lifestyle business.

The 9-5 life isn’t for everyone.

So if you’re looking to reclaim your time, a lifestyle business may be for you.

But launching one from scratch can often feel overwhelming, especially if this is your first time ditching a 9-to-5 job for a shot at entrepreneurship .

Fortunately for you, this guide will cover everything you need to know about starting and growing a successful lifestyle business .

Ready to get started and transform your life?

• What’s a Lifestyle Business?
• Lifestyle Business Vs. Startup: What’s The Difference?
• How To Start And Grow a Lifestyle Business

Let’s dig in.

What Is A Lifestyle Business? 

A lifestyle business is a freedom-focused business.

It’s a different kind of career where you earn a particular level of income to sustain a lifestyle you want to live.

Typically, solopreneurs run lifestyle businesses. In some cases, these solopreneurs hire freelancers to run some of the operations (Think: a bookkeeper to create financial statements).

Thanks to its flexibility, you can run your lifestyle business anywhere — a cafe, a co-working space, a tropical island, you name it. As long as you have a laptop, reliable WiFi, proven skills, and heaps of passion, anyone can be a lifestyle entrepreneur.

Wondering what type of online businesses you can run as a lifestyle entrepreneur?

There are tons of options. From affiliate marketing and blogging to eCommerce and consulting, these location-independent small businesses are the ticket to achieving the work-life balance you dream of.

Take stay-at-home-mum Amy Anthony, who runs Oh So Spotless , an affiliate blog that teaches readers how to clean and organize their homes.

Source: Oh So Spotless

Amy works alongside a team of freelance writers and editors to create daily content. She earns a commission each time a reader buys a product via her affiliate links.

Sell on the leading digital marketplace for entrepreneurs

With AppSumo, you don’t have to be a marketing pro to boost your sales and connect with excited new customers. Focus on building the best product you can. Let us be your engine for growth.

Start selling on AppSumo

Lifestyle Business vs. Startup: What’s The Difference?

The next time someone asks you about the differences between a lifestyle business and startup, don’t panic! Just think back to the main goal.

Startup founders launch startups because they want to solve a problem they’re passionate about. Often, those that are successful eventually sell it and make millions of dollars.

The goal of a lifestyle business is entirely different. Lifestyle entrepreneurs start lifestyle businesses because they want to boost their quality of life or lead a particular lifestyle. 

Here’s a chart that shows the other key differences between a lifestyle business and startup:

How To Start And Grow A Lifestyle Business

There’s no better way to learn how to run a lifestyle business than looking at the entrepreneurs who’ve been through it all. When I put out a request on the best tips, 106 lifestyle entrepreneurs responded.

1. Chat With Your Target Audience 

Question: What’s the first thing you should do before launching a lifestyle business?

• Create a marketing plan
• Register your business
• Trick question: It’s none of the above

If you pick C, you’re right.

It’s tempting to ditch the regular 9-to-5 job and immediately start an LLC , but doing so runs the risk of creating a product or service that no one wants.

Here’s what you should do first: Figure out if there’s a demand for your business .

Set up interviews with your target audience to identify their struggles and wishes. You’ll get answers that help you create something your customers will open their wallets for.

Here’s a real-life example that illustrates this approach.

Before Jackson Kerchis started Happiness Major , he didn’t create his product right away.

Instead, he interviewed his target audience — over 30 students and 20 college administrators —  on issues that they struggled with. After the interviews, he condensed everything he learned and turned them into an in-person event and course.

Source: Happiness Major

When he promoted his event and course to his target customers, he found it much easier to get them on board.

The results speak for themselves: Jackson set up two pilot events for the fall and a one-credit hour spring course.

2. Create A Master Plan (But Don’t Overcomplicate It)

The beauty of running a lifestyle business is that you get to decide… well, just about everything.

But even if you’re in the driver’s seat of your business, it’s always helpful to create a master plan to keep your goals and strategy in check. 

As you develop your plan, ask yourself these questions:

• How many hours a day do I want to work?
• How much money do I want to make?
• How will I grow my lifestyle business without hiring full-time employees? (Assuming I’m running a business that requires regular supervision, like an eCommerce store.)

For example, if you’re a startup consultant and your goal is to earn $5000 a month, how many clients do you need to work with every month? Will these clients work with you on a long-term basis? How do you attract new clients on autopilot as you work on projects?

Alex Willen, Founder of eCommerce store, Cooper’s Treats , explains his top reason for creating a plan beforehand:

“If you don’t have a plan ahead of time, you may find that you have a product or a process that requires a lot of your oversight. Your lifestyle business may start to take up all of your free time, putting you in the position of taking funding to hire people, at which point you’re no longer running a lifestyle business.”Alex Willen, Founder of Cooper’s Treats

Source: Cooper’s Treats  

In other words, creating a plan beforehand helps you prevent “treadmill activities” .

Cole South, the co-founder of Gold BJJ initially ran an online poker training site where he would post a new poker strategy video every day. It turned out to be a mistake (treadmill activity) as he was constantly struggling to keep up with the never-ending workload.

“Unless you have a big team, anything that requires constant upkeep — for example, a news site — makes it hard to step away and enjoy the lifestyle you’re aiming for.”Cole South, Co-founder of Gold BJJ

Moral of the story?

Create a plan to lay out your strategy — but more importantly, to prevent yourself from creating more work than you can handle.

3. Select A Niche And Go Deep

What’s something that you love, and you’re good at?

This sweet spot makes up your niche and allows you to go deep and claim your expertise. 

Ideally, your niche should serve a smaller group of audiences but large enough to know there’s a demand for it. Bonus if it sets you apart from your competition.

When Nicole Faith started Plush Society in the vegan industry, she knew early on that she didn’t want to create another typical vegan blog.

Fortunately for her, she has deep expertise in vegan resources. Combining her passion and skills, she decided to offer personal shopping in the luxury vegan lifestyle space.

Source: Plush Society

“That is the key to starting and growing a lifestyle business — genuine interest and an eagerness to go deep.”Nicole Faith, Luxury Vegan Personal Shopper + Lifestyle Blogger at Plush Society

This deep expertise can either be your experience as a consumer or in your line of work. You’ll have an easier time kickstarting your lifestyle business, as you’ve already gone through the learning curve.

4. Highlight Your X-Factor

Your niche isn’t the only thing that sets you apart.

Your X-factor comes into play here, as well.

Make this X-factor a big part of how you run your business and stand out from your competitors. 

Say, you run a blogging consulting business. Your X-factor could be sending audio clips of encouragement to clients. Run an eCommerce store? Make handwritten thank you cards as your X-factor.

For Joshua Strawczynski, who runs JMarketing from a tropical island in the Caribbean, his X-factor is his unique proposals.

Take a look at one of his proposals below. Notice how it resembles a miniature website?

It allows prospective clients to click through each page on the left tab, creating an interactive and user-friendly experience that probably couldn’t be done with PDFs.

Tip : Use Quoters to design unique proposals. This online proposal software comes with customizable templates from different industries, making it easy to create interactive proposals within minutes. Get the Quoters lifetime deal on AppSumo today for $49.

“Give yourself permission to be different. When I took a year off to clear my mind, I found time to innovate and approach things differently. As a result, our sales rates tripled, and our client yield went through the roof. Give yourself permission to dream. Dare to be different.”Joshua Strawczynski, Managing Director at JMarketing Agency

5. Build A Website (Or Buy One)

Put your best foot forward with a custom domain website. It’ll immediately show prospective customers you’re a pro!

Your website builder will depend on the type of lifestyle business you’re running.

If you want to launch an eCommerce store, go with Shopify. If you’re going to run an affiliate-based business and hire a team of freelance writers to create your content, choose WordPress.

Tip : Don’t want to go through the tedious process of creating a website from scratch? Buy one from a website marketplace.

Stacy Caprio, an online marketer, tried creating her own daily deals website for more than three years, but to no avail. She finally decided to purchase Deals Scoop on Flippa and grew it to the point where she could live off its income.

Source: Deals Scoop

6. Attract High-Quality Traffic 

Your job’s only half-done after creating a website. Now it’s time to attract targeted traffic, so you’ll get a step closer to bringing money to the door.

There are two big ways to go about it.

One, create unique evergreen content.

Evergreen content is content that doesn’t lose its relevance regardless of time. With this “timeless” content, you’ll continue to attract your target customers to your website even after years of publishing it.

Jeremy Owens can account for the power of evergreen content. After he published his evergreen content (a brain teaser) on Seriously Smoked , top publications wrote about it, driving massive traffic back to his website.

Source: The Sun

All these exposures without paying a dime! Genius.

Another surefire way to attract targeted traffic is to build your backlinks.

Lina Velikova, Medical Advisor at Supplements 101 , uses HARO to reach high-authority publications that link back to her website.

Here’s a feature she scored on a top (and relevant) publication thanks to using HARO:

Source: Best Life

7. Be Your Own Salesperson

Network to stay on top-of-mind.

Afoma Umesi , a freelance writer and editor, gets the word out about her business on social media and considers it a valuable channel when finding new work.

Source: Twitter

“When you run a brick and mortar business, it’s easy to understand the value of selling yourself or advertising your business. But as a writer or consultant, it can feel more ambiguous. Sell your services on social media. Share your work, achievements, the behind-the-scenes action. Let people know when you’re available for hire!”Afoma Umesi, Freelance writer and editor

The point here is to network whenever you have the chance.

Remember in the first tip where we talked about reaching out to your target audience before building your product or service? That’s a part of networking, too!

Lifestyle blogger Bonnibelle Chukwuneta didn’t have everything in place when she launched her blogging business, but she didn’t let it stop her from reaching out to prospective clients.

“My client onboarding process wasn’t finished, I didn’t have pretty proposal templates, and my website was far from perfect. But I did the work anyway. I sent the cold emails (yes, cold!) and booked the discovery calls, and before I knew it, I had clients on my roster, and I was officially a paid blogger.”Bonnibelle Chukwuneta, Lifestyle blogger

She networked her way up by sending cold emails to her target clients.

It turned out to be a smart move on her part, as she eventually scored a freelance writing gig with Sacramento News & Review.

Source: Sacramento News & Review

8. Diversify Income Streams 

If there’s one thing COVID-19 has taught us, it’s that life is unpredictable.

What used to earn us a comfortable living can easily be wiped out in a matter of weeks.

For a lifestyle business owner whose income comes from only one channel (e.g. a motivational public speaker who does only in-person events), this is dangerous.

Want to create a safety net? Start by diversifying your income . You’ll have other income streams to fall back on.

Take it from Pete McPherson, Founder of Do You Even Blog :

“I don’t have a single monetization angle that makes more than $30-40k per year — but 7-8 income streams that make anywhere from $300 to $5,000 a month. This gives me multiple opportunities to scale, and also protects me if (or when) these channels ever disintegrate.”Pete McPherson, Founder, Do You Even Blog

There are a ton of ways to generate income from different sources.

If you’re a consultant who does only paid consultation calls, think about expanding your offerings:

• Create a course : Curate everything you learn in your line of work and turn it into a paid course using TeacheableU .
• Start a membership community : Create an exclusive community and generate recurring income with SubHub . SubHub is a user-friendly platform that helps you build, host, and manage your membership and subscription sites. Get the SubHub annual deal on AppSumo today for $299.
• Sell an e-book : Show off your expertise! Write a book and sell it to earn passive income.

More income streams. More security.

9. Scale With Software Tools

Building a streamlined process matters, as it allows you to be as hands-off as possible. After all, that’s the main reason you’re starting a lifestyle business, right?

The only way to build a true lifestyle business is to automate as much as you can — either through great staff or great business tools .

For this last tip, we’ll focus on the latter.

Darcy Ogdon-Nolan initially launched The Bircher Bar as a cafe but has since converted it to a high-end health-based affiliate business.

Source: The Bircher Bar

When asked about the software that helped make this transition possible, Darcy credits the editorial and marketing tools ( StoryChief , Snovio , SocialBee ) he bought on AppSumo.

Note : The tools that Darcy shared are currently sold out on AppSumo, so I’ll recommend two alternatives that help you automate your business.

WP Scheduled Posts : An editorial calendar tool for WordPress that lets you plan, create, and publish your posts in one place. It also offers integrations with Twitter and Facebook. Once the post is live, it will automatically share on social media.

Source: WP Scheduled Posts

Get the WP Scheduled Posts lifetime deal on AppSumo today for $39.

Sociamonials : A no-coding social media tool that lets you create beautiful campaigns with ready-made design templates. It comes with a fantastic analytics dashboard, so you’ll always know which campaigns drive the most success.

Source: Sociamonials

Get the Sociamonials lifetime deal on AppSumo today for $69.

If you rather not delegate projects to freelancers, opt for software tools instead. It’s likely there’s a tool out there that helps you run your business just as well!

Launch A Lifestyle Business Today And Reclaim Your Life

Starting a lifestyle business is similar to launching a startup.

It requires a ton of hard work and careful planning.

But there’s also a massive difference between these two businesses — instead of thinking about profit or funding, you’re focusing on earning a particular level of income to create the LIFE you want to live .

We’ve covered a lot in this lifestyle business guide. To recap, here’s what you learned:

• Chat with your target audience to identify their goals and see if there’s a demand for your business
• Create a master plan (but don’t overcomplicate it)
• Select a niche and go deep
• Highlight your X-factor to show you’re the real deal
• Build a website. Or buy one!
• Attract high-quality traffic to your website
• Be your own salesperson
• Diversify your income streams so you’ll always have other channels to fall back on
• Use software tools to automate your lifestyle business

Experiment and see what works.

Let us know how your lifestyle business turns out, Sumo-lings!

• Entrepreneurship
• Starting a Business
• My #1 Online Biz
• Business Planning
• Advertising
• Content Marketing
• Digital Marketing
• Public Relations
• Business Model
• Financial Forecasting
• Market Research
• Risk Management
• Business Plan
• Conferences
• Online Communities
• Professional Associations
• Social Media
• Human Resource
• Productivity
• Legal Requirements
• Business Structure
• Mission Statement
• Financial Plan
• Market Analysis
• Operational Plan
• SWOT Analysis
• Target Market
• Competitor Analysis
• Customer Profiling
• Market Trends
• Pricing Strategies
• Sole Proprietorship
• Partnership
• Cooperative
• Corporation
• Limited Liability

Best Lifestyle Business Ideas for Financial Freedom in 2022

by Mike Vestil  

As a fledgling entrepreneur seeking financial freedom , of course, you’re looking for lifestyle business ideas from other successful people.

Lifestyle businesses enable you to find the time to support yourself, your family and your lifestyle while having the time to do the things you enjoy doing. 

But, how do you choose the right lifestyle business for yourself? What are some of the best lifestyle business ideas? This is what I address in this article. 

For me, my personal journey to the life I wanted started with my blogging lifestyle business. But,  what worked for me might not be the perfect recipe for you. That’s why I’ve created this list of the best lifestyle business ideas for 2021, in the hope that you’ll find an idea that resonates with you, and you can start your journey towards financial freedom. Plus, you can learn even more in my upcoming webinar !

In this article, you’ll learn:

• What a lifestyle business is
• The characteristics of a lifestyle business
• The advantages that a lifestyle business has over traditional business models
• Key components to consider before starting your lifestyle business
• 3 real-world examples of successful lifestyle businesses
• 7 creative lifestyle business ideas for you to begin TODAY

Table of contents

• What is a lifestyle business?
• What are the characteristics of a lifestyle business?
• What are the benefits of running a lifestyle business?
• Starting a lifestyle business: What you should know
• Three real-world examples of six-figure lifestyle businesses
• X creative lifestyle business ideas for 2021

What Is a Lifestyle Business?

Put plainly, a lifestyle business is any business that allows you to live how you want. You are the founder, director and manager of your lifestyle business, so the business works how you want it to. 

In most cases, a lifestyle business is established with the goal of sustaining a stable level of income. 

For some, that stable level of income might be making 300 USD per day , whereas others might have higher financial goals.  

Essentially, your lifestyle will determine how much revenue your lifestyle business needs to generate. For example, if you live a frugal existence and enjoy the simpler pleasures in life, such as growing your own produce, home-cooking, going for long walks in the forest, and reading as many books as you can, then your lifestyle business doesn’t need to generate hundreds of thousands per year!

If, on the other hand, you enjoy jet-setting around the world and partying in Bangkok, Hong Kong, Paris and New York, then your lifestyle business will need to produce more to support you.  

What Are the Characteristics of a Lifestyle Business?

Lifestyle businesses consist of several fundamental characteristics that enable them to operate how the founder wants. 

Generally, lifestyle businesses take little if any investment to get off the ground. They are long-lasting, can be very profitable when managed correctly, and will most often generate passive income. 

Little-to-No Initial Investment and Easy-to-Control Costs 

Unlike other business models, such as opening a physical business (a restaurant, store or dive shop) or founding a startup, a lifestyle business generally needs no financial injection to get it running. 

The best lifestyle business ideas enable the founder to start slow and grow gradually, easily controlling any costs. This keeps risk and stress to a minimum, making the journey that much more enjoyable. 

Long-Lasting 

Many of the lifestyle business ideas we will share with you later in this article are designed to support your lifestyle for many years to come. 

The point of starting a lifestyle business is to escape the 9-5 grind, so a lifestyle business isn’t any good if it only lets you out of the rat race for six months!

Location Independent 

For most entrepreneurs, freeing up their time is motivated by going to the places they want to go and seeing the people they want to see. This means not being tied to any particular place. 

A lifestyle business facilitates this because the most creative lifestyle business ideas out there aren’t dependant on a location — they depend on the person running it. 

With a lifestyle business, you don’t need to go to your restaurant or go to the office to handle your startup. In most cases, if you’ve got a laptop and a semi-reliable internet connection, you’ll be able to make sure your business is running smoothly, then get back to doing what you want! 

Profitable With Passive Income

Passive income is the holy grail of making money while leading the life you want — it means earning money separate from working hours.

Most salaries are dependant on the number of hours worked. An employee agrees with their employer to sell their time for a pre-determined price in a contractual agreement. Thus, the employees’ earning potential is capped by the number of hours they are willing or able to work. 

With a passive income revenue stream from your lifestyle business, you earn while you don’t work. If you’ve set up your lifestyle business correctly, you’ll earn passive income with just a few hours, a few days a week. 

You can dedicate the rest of your time to your community, hobbies, family or whatever cause you feel passionate about.

What Are the Benefits of Running a Lifestyle Business?

There are multiple benefits of choosing a lifestyle business over a different business model. 

As I’ve already mentioned, a lifestyle business requires little-to-no initial investment, can generally be run from anywhere, and generates passive income.

One of the best things I’ve found about starting my lifestyle business is the chance to meet so many other inspiring people who value the same virtues as I do. I can have discussions with these incredible people and share their knowledge with others, like yourself, who are also seeking financial freedom. 

But how does a lifestyle business measure up against, say, running a startup? Or, a physical business?

Benefits of a Lifestyle Business vs Startups and Physical Businesses 

Lifestyle businesses and startups can easily be considered one and the same — but they’re not. 

Yes, a startup is usually a passion project, something the founders feel passionately about, but it’s on a whole different level than a lifestyle business. 

And with physical businesses, there are other things to consider, particularly licensing, stock and staff management, and logistics. 

For one, a startup or physical business usually takes tens if not thousands of dollars to get up and running. 

Startup founders generate this capital through sequential funding rounds, all of which take ownership away from the founders. 

The more people invested in your business, the less autonomy you have, and the more people you have to answer to. Thus, you own less of your own time as the founder of a startup or physical business when compared to a lifestyle business owner.  

• Time Commitment

Funded start-ups are designed for rapid expansion and fast profitability. 

While many of the early profits will go back into the startup, investors want to see early revenue growth to know that their investment is secure and worthwhile — meaning startup business founders will be working around the clock to grow their business as fast as possible. 

With a physical business, you’ll be working the longest hours of any employee to ensure your service or product is up-to-scratch. 

The whole point of starting your lifestyle business is to get away from this vicious cycle of work and money, so be very clear about the scope and goal of your project before embarking. 

As with any investment, there is significant risk involved in starting a startup or physical business. 

While the potential financial upside is often significantly greater for startups, there can be a lot on the line, making for a pretty stressful first few years of running the business before achieving financial freedom and living the life you want. 

Starting With Creative Lifestyle Business Ideas: What You Should Know

Deciding you want to change your life with creative lifestyle business ideas is an empowering step in the right direction. 

But, before jumping in with both feet, there are two things I want to talk about: value and visualization. 

Create Value

The one constraint a lifestyle business has is this — it must provide a benefit to your customers. 

If your business doesn’t help improve your clients’ lives, it won’t work as a lifestyle business. Your lifestyle business needs to solve a problem that you notice people have. 

Consider your lifestyle business with this context, and you’ll be off to a good start.

Visualize Your Lifestyle Business

I’d like you to visualize the type of lifestyle business you want. 

Doing so will give you a clear idea of the type of lifestyle business best suited to your needs. 

A great way to do this to write down these questions and answer them for yourself: 

• What will a lifestyle business enable me to do?
• How much income do I want to make?
• How much work do I want to do?
• How flexible do I want my schedule to be?
• How much growth potential do I want for my business?
• What is my timeframe?

Consider these questions in the frame of the daily life you want to create, and you’ll have a good idea of which kind of lifestyle business will best suit your needs. 

If you’d like, you can save, download and print off the sheet below and keep it at your desk to help guide you towards the right lifestyle business for you. 

3 Real-World 6-Figure Lifestyle Business Examples

Here, I want to show you three lifestyle business examples of people who have taken this concept to the next level and live their dream lives. Some of these guys are your average Joes, and others are world-class athletes. 

But regardless of who they are and where they’ve come from, all of these individuals inspire and remind me just how amazing it is to live life on your own terms. 

• Coach Domonique 

People who are passionate about other people often succeed very well at running a lifestyle business. 

Take Coach Domonique as an example — she turned away from the lawyer career path to pursue her dream of helping people realize their own potential through coaching. 

With a nurturing nature and a drive to excel, Domonique earned coaching certificates and began her coaching lifestyle business. Now, she can adjust her schedule as she wishes, taking on more clients when she needs, or working only with her steady clients when she wants time for herself. 

Domonique handles her business as she sees fit — and her clients love her for it. 

• Nathan Florence 

Those of my freedom fighters who are into wave riding will probably know John John Florence’s younger brother Nathan. 

Nathan avoided competitive surfing, often overshadowed by his world champion older brother. But that didn’t stop Nathan from creating his own 6-figure lifestyle business based on Youtube Vlogging and Instagramming. 

Through his social media accounts, Nathan gives his followers insight into his daily life, his workouts, his supplements, his equipment, his travels and exploits — all done just by documenting his incredible lifestyle. 

In return, Nathan has healthy sponsorship deals with some leading health and wellness brands that fund him and give him the freedom to enjoy his life. 

The key to Nathan’s rapid success as a lifestyle Youtuber has been consistency, creating a personal connection with his audience, and offering valuable insight that benefits his followers — information such as how to train, eat and prepare for surfing. 

While Nathan is at the forefront of his sport, if you have a passion for an activity and excel at it, documenting your training and your journey could be a very enabling lifestyle business. 

• Mark Dawson 

Self-publisher Mark Dawson reportedly earns over $400,000 per year from his extensive library of self-published books and eBooks for Kindle. 

Mark experienced frustration at the beginning of his writing career — way back in 2000 when his first book, The Art of Falling Apart , flopped. 

But, after learning how to research hot topics and self-publish on Kindle, Mark now enjoys a lifestyle where he can write, read or do whatever he wants, whenever he wants to. 

While you certainly don’t need to grow your self-published library on Amazon to the extent that Mark has, this example demonstrates the immense potential that eBook publishing has as a lifestyle business. 

7 Creative Business Ideas for Lifestyle Entrepreneurs in 2021

Now that I’ve given you a clear idea of what a lifestyle business is and demonstrated how accessible it can be, let’s take a look at some of the best business ideas for lifestyle entrepreneurs that you can consider during 2021. 

These ideas are focused on creating a passive income — so we’ve excluded some popular lifestyle business ideas that take more of your time. 

Self-Publishing on Kindle

Are you a gardening or yoga expert?  Do you see people struggling to get the most out of home cooking or nutrition? Or perhaps, like Mike Dawson, you’re an unrealized thriller author. Then write down your stories and expertise and help people lead better lives with your knowledge. 

There are over 90 million Kindle users globally and over 500,000,000 Kindle books sold through the platform yearly.  

As self-published authors keep 70% of their profits, self-publishing on Kindle is a fantastic lifestyle business idea. Once you create a library of 10-15 small but desirable books, you’ll see passive income coming in every month. 

Online Course Creation

Lifestyle business entrepreneurs can share their knowledge with people looking to learn from them. With the e-learning market predicted to be worth $325 billion come 2025 , there is plenty of opportunities to earn passive income as an online course creator. 

Know about a particular but perhaps obscure skill — like animal training, flying a drone, hooping, skipping, embroidery, painting, even how to make and fire a slingshot? Then create an online course. 

While celebrities offer writing, cooking and acting classes on Masterclass, everyday individuals like yourself deliver video courses to students through online platforms like Udemy, Thinkific and Teachable. 

Starting a Youtube Channel With Sponsorships

Starting a Youtube channel might be one of the most enjoyable lifestyle businesses out there. 

Take the channel In The Pocket MMA, for example. A relatively new and small channel (57k subscribers), these guys make compilations of their favorite MMA news and fights and post them. 

They already work with Man Scaped as a sponsor, and as they continue to publish content consistently and grow, more sponsorships will come. 

If you’re passionate about anything — rock climbing, free diving, surfing — you can make compilation videos or instructional videos and create a profitable Youtube channel lifestyle business around it. 

Affiliate marketing.

Affiliate marketing offers enormous potential as a passive income lifestyle business. If you own a website, Youtube channel or Instagram account with a dedicated number of followers, you can recommend products to your followers. 

You’ll earn commission on every product you sell from your site because, as a registered affiliate marketer, you are assigned a unique tracking code that identifies you as the seller. 

Dropshipping

Dropshipping involves the manufacturer or storer of goods delivering products directly to consumers. 

This means that as a drop shipper, you don’t need any stock of your own. Simply set up an e-commerce store, market your products and enjoy passive income while the manufacturers take care of delivery and stock for you. 

Amazon Fulfilment By Amazon (FBA)

If you can source your product, using an FBA lifestyle business model enables you to store your products at Amazon’s warehouses and leverage the Amazon website to advertise and sell your wares. 

This business model benefits from established high-volume traffic, but you’ll need to make your product stand out because competition can be stiff on these platforms.  

Starting a Blog

This lifestyle business is close to my heart because it’s how I started. 

Blogging isn’t as easy as it used to be and takes plenty of upfront leg work. But, the beauty of this lifestyle business idea is how you get to truly share your story with the world and make passive income doing it. 

Blogging becomes profitable through affiliate marketing, but once you’ve grown your blog to a specific size, you can be very particular about the products you recommend. 

Wrapping Up

Hopefully, this article has given you insight into why starting a lifestyle business can be a good idea — and whether or not it is a good idea for you!

The ideas I’ve included are the best and most accessible ideas for creating a passive income stream, and I didn’t want to overwhelm you with too many options. 

If you’re wondering how to get started today by implementing these lifestyle business ideas, then I’m offering a 100% free last-minute sign up to my online workshop on how we used a brand new “Silver Lining Method” to make $10/day, then systematically grow to $100/day, then $1,000/day and more. 

Learn how to make passive income online

I've put together a free training on *How We Used The Brand New "Silver Lining Method" To Make $3k-$10k/mo (profit) With Just A Smart Phone In As Little As 8 Weeks …

About the author 

Mike Vestil

Mike Vestil is an author, investor, and speaker known for building a business from zero to $1.5 million in 12 months while traveling the world.

How To Write a Business Plan for Lifestyle Management in 9 Steps: Checklist

By alex ryzhkov, resources on lifestyle management.

• Financial Model
• Business Plan
• Value Proposition
• One-Page Business Plan
• SWOT Analysis
• Business Model
• Marketing Plan

Are you considering starting a lifestyle management business in the US? This industry is experiencing rapid growth, with an increasing demand for personalized assistance and support in managing everyday tasks. According to recent statistics, the lifestyle management market is projected to reach $9.2 billion by 2025, with a compound annual growth rate of 6.3% . With the right business plan, you can tap into this lucrative market and provide valuable services to busy individuals.

Before diving into the world of lifestyle management, it's crucial to have a roadmap that outlines your goals, strategies, and operations. By following a systematic approach, you can ensure that your business is well-prepared and positioned for success. In this blog post, we will guide you through 9 essential steps to help you write a comprehensive business plan for your lifestyle management business.

First and foremost, you need to conduct market research to gain insights into your target audience and their preferences. Understanding their needs and expectations will enable you to tailor your services accordingly and stand out from the competition. Next, analyze existing lifestyle management businesses to identify industry trends, best practices, and potential gaps in the market.

Once you have a grasp of the market, it's time to define your unique selling proposition and competitive advantage. What sets your business apart from others? How will you position yourself as the go-to lifestyle management service? Answering these questions will help you differentiate your brand and attract customers.

A comprehensive financial plan is essential for your business's sustainability and growth. Determine your startup costs, projected revenue, and operating expenses to ensure that your business is financially viable. Additionally, develop a detailed marketing strategy to promote your services and reach your target audience effectively.

To set up the organizational structure of your business, outline the staffing requirements and roles within your team. Consider hiring trustworthy personal assistants who are skilled in managing various aspects of clients' lives. Additionally, determine the legal structure of your business and fulfill any necessary permits or licenses required by local regulations.

Setting specific and realistic business goals is crucial for tracking your progress and measuring success. Break down your goals into manageable milestones and establish metrics to assess performance and make informed decisions. Lastly, identify potential risks and create a risk management plan to mitigate any threats to your business's operations or reputation.

By following these 9 steps, you'll be well on your way to creating a robust business plan for your lifestyle management venture. Stay tuned for our upcoming blog posts, where we'll delve deeper into each step to provide you with actionable insights and tips for success.

Conduct Market Research And Identify Target Audience

Before launching a lifestyle management business, it is crucial to conduct thorough market research and identify your target audience. This step will provide valuable insights into the demand for such services, the competition in the market, and help you tailor your offerings to meet your customers' needs.

• Begin by researching the lifestyle management industry in your local area or target market. Look for existing businesses offering similar services and analyze their offerings, pricing, and target demographics.
• Identify any gaps or opportunities in the market that you can capitalize on. Consider what unique value your business can bring to the table and differentiate yourself from competitors.
• Explore industry trends and consumer preferences to understand what services are in high demand. This will help you refine your offerings and cater to the specific needs of your target audience.
• Conduct surveys, interviews, or focus groups with potential clients to gather feedback and understand their pain points and preferences. This firsthand information will guide your business decisions and ensure you offer services that resonate with your target market.

Tips for Conducting Market Research and Identifying Your Target Audience:

• Utilize online research tools, industry reports, and databases to gather market data and statistics.
• Consider partnering with a professional market research firm for more in-depth insights.
• Engage with potential clients through social media platforms or online communities to understand their needs and preferences.
• Keep an eye on emerging trends and technologies that could impact the lifestyle management industry.
• Regularly review and update your market research to stay informed about changes and evolving customer demands.

By conducting comprehensive market research and identifying your target audience, you can lay a solid foundation for your lifestyle management business. Understanding your customers' needs and preferences will allow you to tailor your services, craft effective marketing strategies, and position your business for success in a competitive market.

Analyze Existing Lifestyle Management Businesses

When starting a lifestyle management business, it is crucial to analyze existing businesses in the industry. This analysis will provide valuable insights into the market landscape, competition, and potential opportunities for differentiation. Here are some important aspects to consider:

• Market Presence: Look at the established lifestyle management businesses in your target area and examine their market presence. Determine how long they have been operating, their reputation, and the size of their customer base.
• Services Offered: Take note of the range of services offered by competitors. Understand the specific areas they focus on and the packages they provide. This will help you identify gaps in the market and potential services that you could offer to stand out.
• Pricing Structure: Analyze the pricing structure of existing businesses. Compare their membership fees, pricing tiers, and any additional charges for specific services. This information will help you determine competitive pricing for your own business.
• Customer Reviews: Read customer reviews and testimonials for existing lifestyle management businesses. Pay attention to the strengths and weaknesses highlighted by clients. This will give you insights into areas where you can excel or improve upon.
• Online Presence: Assess the online presence of competitors. Look at their websites, social media platforms, and online reviews. Understand how they engage with their customers and leverage technology to enhance their services.
• As you analyze existing lifestyle management businesses, consider leveraging their strengths and improving upon their weaknesses to position your business as a superior choice.
• Identify any unique features or service offerings that set your competitors apart. This will help you identify opportunities for innovation and differentiation.
• Don't forget to consider indirect competitors, such as virtual assistant services or concierge services, that may offer similar services but cater to a different target audience.

By thoroughly analyzing existing lifestyle management businesses, you can gain valuable insights that will inform your own business strategy. This research will help you identify your unique selling proposition, understand the needs of your target audience, and position your business for success in the competitive landscape.

Define Unique Selling Proposition And Competitive Advantage

When starting a lifestyle management business, it's crucial to define your unique selling proposition (USP) and competitive advantage. Your USP is what sets you apart from your competitors and gives potential clients a reason to choose your services over others. Here are some important considerations to help you define your USP:

• Identify your target audience: Understand the specific needs and preferences of your target audience. This will help you tailor your services and develop a USP that resonates with them.
• Analyze market trends: Research industry trends and identify any gaps or unmet needs in the market. This will allow you to position your business as a solution to those gaps.
• Highlight your expertise: Determine what unique skills, knowledge, or experience you and your team bring to the table. Emphasize these qualities in your marketing messaging to showcase your expertise.
• Offer specialized services: Consider specializing in a particular area or industry to differentiate yourself from general lifestyle management businesses. For example, you could focus on serving busy professionals, entrepreneurs, or specific demographics like working parents or retirees.
• Create a seamless user experience: Invest in technology and design to provide a user-friendly and efficient experience for your clients. This could include a user-friendly mobile app or online platform for easy communication and task management.
• Conduct surveys or interviews with potential clients to gather insights and better understand their pain points.
• Stay updated on industry trends and incorporate them into your service offerings and marketing strategies.
• Regularly reassess and refine your USP to stay relevant and competitive in the market.

Create A Comprehensive Financial Plan

Creating a comprehensive financial plan is an essential step in establishing a successful lifestyle management business. This plan will serve as a roadmap for your financial goals and help you make informed decisions about revenue, expenses, and profitability.

When creating your financial plan, it is crucial to consider all potential sources of revenue. In the case of a paid membership-based service, your primary source of revenue will be the membership fees. However, you should also explore additional income streams, such as commissions from partner vendors or potential upselling opportunities within your customizable packages.

Key components of your financial plan

• Revenue projections: Estimate the number of memberships you expect to sell and calculate the corresponding revenue. Consider different scenarios and market conditions to ensure realistic projections.
• Expense analysis: Identify all the costs associated with your business, including staffing, software and technology, marketing, office space, and operational expenses. Create a detailed budget that accounts for both fixed and variable costs.
• Break-even analysis: Determine the point at which your business's total revenue equals its total expenses. This analysis will help you understand how many memberships you need to sell to cover all your costs.
• Cash flow management: Plan for the inflow and outflow of cash to ensure that you have enough working capital to sustain your operations. Monitor your cash flow regularly to identify potential gaps or surpluses.
• Financial forecasts: Use historical data, industry benchmarks, and market research to project your business's financial performance over a specific period. This will help you assess the profitability and growth potential of your venture.

Tips for creating an effective financial plan:

• Seek professional advice: Consider consulting with an accountant or financial advisor who specializes in small businesses. They can provide valuable insights and ensure that your financial plan is realistic and aligned with your goals.
• Review and revise regularly: Your financial plan is not set in stone. As your business evolves, revisit your plan frequently to reflect any changes in your goals, pricing, expenses, or market conditions.
• Track and analyze your metrics: Set key performance indicators (KPIs) to monitor the financial health of your business. Regularly review and analyze these metrics to identify areas for improvement and track your progress towards your goals.

By creating a comprehensive financial plan, you will be well-equipped to make strategic decisions, secure funding if needed, and navigate potential financial challenges. Remember, a strong financial foundation is essential for the long-term success and sustainability of your lifestyle management business.

Develop A Detailed Marketing Strategy

Once you have identified your target audience and analyzed your competitors, it is time to develop a detailed marketing strategy to promote your lifestyle management business. A well-thought-out marketing strategy will help you reach and attract your target customers, ultimately leading to business growth and success.

Your marketing strategy should encompass various elements, including:

• Branding: Create a strong and memorable brand identity that aligns with your target audience's values and preferences. This includes designing a logo, selecting brand colors, and developing a brand voice.
• Website Development: Build a user-friendly and visually appealing website that showcases your services, features customer testimonials, and provides easy access to information about your membership packages and pricing.
• Digital Marketing: Utilize various digital marketing tactics to reach your target audience online, such as search engine optimization (SEO), social media marketing, email marketing, and content marketing. These strategies can help drive traffic to your website and increase brand awareness.
• Offline Advertising: Consider traditional advertising channels, such as print media, radio, and television, to reach potential customers who may not be active online.
• Partnerships and Collaborations: Identify strategic partnerships with complementary businesses, such as travel agencies, luxury brands, or concierge services, to cross-promote your services and tap into their existing customer base.
• Reputation Management: Monitor and manage your online reputation through reviews and feedback platforms. Encourage satisfied customers to leave positive reviews, and address any negative feedback promptly and professionally.
• Invest in professional photography and compelling visuals for your website and social media posts to enhance the overall brand image.
• Create engaging and informative content, such as blog articles or videos, to establish yourself as a thought leader in the lifestyle management industry.
• Offer referral incentives to your existing clients for recommending your services to their friends and colleagues.
• Track the effectiveness of your marketing efforts using analytics tools, such as Google Analytics, to optimize your strategies and allocate your resources more efficiently.

Remember, consistency and continuous adaptation are key to a successful marketing strategy. Regularly evaluate your tactics and make adjustments based on the feedback and data you receive. By effectively promoting your lifestyle management business, you can attract the right customers and establish a strong brand presence in the market.

Outline The Organizational Structure And Staffing Requirements

When starting a lifestyle management business, it is essential to carefully outline the organizational structure and staffing requirements. This step will help ensure that your business operates efficiently and effectively, while also providing a framework for growth and scalability. Here are some important considerations:

• Determine the key roles and responsibilities: Identify the key positions required to run your lifestyle management business successfully. This may include a CEO or business owner, operations manager, customer service representatives, personal assistants, and administrative staff. Clearly define the roles and responsibilities for each position to ensure clarity and accountability.
• Define the reporting hierarchy: Determine how decision-making and reporting will flow within your organization. Outline the reporting structure, including who each staff member will report to, to ensure effective communication and coordination.
• Identify staffing requirements: Determine the number of staff members needed for each position based on the expected workload and growth projections. Consider both the initial requirements and any future expansion needs to ensure that you have the appropriate staffing levels.
• Create job descriptions: Develop clear and comprehensive job descriptions for each position within your lifestyle management business. This will help attract qualified candidates and ensure that the role requirements and expectations are clearly communicated.
• Consider outsourcing options: Depending on your budget and resources, you may want to consider outsourcing certain functions, such as accounting or marketing, to external professionals or agencies. This can provide cost savings and specialized expertise.
• Regularly assess your staffing needs and adjust accordingly as your business grows or changes.
• Consider hiring individuals with experience in lifestyle management or related fields to bring industry knowledge and expertise to your team.
• Create a positive and supportive work environment to attract and retain talented staff members.
• Invest in training and professional development opportunities to help your team enhance their skills and stay updated with industry trends.

By outlining the organizational structure and staffing requirements for your lifestyle management business, you can set a strong foundation for success. This step will provide clarity and direction for your team, allowing them to work together efficiently and deliver high-quality services to your clients.

Determine The Legal Structure And Necessary Permits/Licenses

When establishing a lifestyle management business, it is crucial to determine the legal structure that best suits your needs. This decision will not only impact the tax implications and liability protection for your business but also affect your ability to secure necessary permits and licenses. Here are the important steps you need to take:

1. Research Legal Structures: Familiarize yourself with different legal structures such as sole proprietorship, partnership, limited liability company (LLC), or corporation. Consider consulting with a legal professional to understand the pros and cons of each option and select the one most suitable for your business goals and risk tolerance.

2. Register Your Business Name: Choose a unique and memorable name for your lifestyle management business and register it with the appropriate government agency. This step is essential to ensure exclusive use of your business name and protect it from infringement.

3. Obtain Licenses and Permits: Conduct thorough research to identify the specific licenses and permits required to operate a lifestyle management business in your location. These may include general business licenses, professional licenses, or permits related to specific services you offer. Contact your local government offices or consult an attorney to determine the necessary requirements.

• Keep updated: Stay informed about any changes in licensing or permit regulations. Renew your licenses and permits on time to avoid legal issues and potential disruptions to your operations.
• Stay compliant: Maintain thorough records of licenses, permits, and other legal documents related to your business. Regularly review and ensure compliance with all applicable laws and regulations.

4. Consider Intellectual Property Protection: If you have developed unique software, technology, or processes for delivering your lifestyle management services, you may want to consider seeking intellectual property protection through patents, trademarks, or copyrights. Consult an intellectual property attorney for guidance on protecting your valuable assets.

5. Obtain Insurance Coverage: Protect your business and mitigate potential risks by obtaining the appropriate insurance coverage. This may include general liability insurance, professional liability insurance, worker's compensation insurance, or cybersecurity insurance. Assess your business needs and consult with an insurance professional to determine the right coverage for your organization.

Determining the legal structure and obtaining the necessary permits and licenses is a critical step towards establishing a legally compliant and reputable lifestyle management business. Be sure to allocate sufficient time and resources to thoroughly understand the requirements and seek professional advice when needed. By doing so, you can lay a solid foundation for the success and growth of your business.

Set Specific And Realistic Business Goals

Setting specific and realistic business goals is crucial for the success of your lifestyle management business. These goals will serve as a roadmap, guiding your actions and decisions as you strive to grow and achieve profitability. Here are some important considerations when setting your business goals:

• Identify your short-term and long-term objectives: Determine what you want to achieve in the next few months, as well as in the next few years. Short-term goals can include acquiring a certain number of clients or reaching a specific revenue milestone, while long-term goals may involve expanding your services to new markets or increasing market share.
• Make your goals measurable: It's essential to have goals that can be quantified so that you can track your progress and determine whether you are on track to meet them. For example, instead of stating a vague goal like 'increase revenue,' specify a target percentage or dollar amount.
• Ensure your goals are realistic: While it is important to aim high, it is equally important to set goals that are attainable. Consider factors such as market conditions, competition, and available resources when setting your goals. Unrealistic goals can lead to frustration and demotivation.
• Break down larger goals into smaller, actionable steps. This will make them more manageable and enable you to track progress along the way.
• Set deadlines for each goal to create a sense of urgency and keep yourself accountable.
• Regularly review and revise your goals as your business evolves. Adaptability is key in a dynamic industry like lifestyle management.

By setting specific and realistic business goals, you are giving your lifestyle management business a clear direction and purpose. It helps you stay focused, measure progress, and make informed decisions to drive growth and success.

Identify Potential Risks And Create A Risk Management Plan

Identifying potential risks that could impact your lifestyle management business is crucial for ensuring its long-term success. By proactively assessing and managing these risks, you can minimize their impact and safeguard your operations. Here are some key steps to help you identify potential risks and create a comprehensive risk management plan:

• Perform a risk assessment: Start by identifying and assessing the potential risks that could affect your business. Evaluate internal risks, such as operational inefficiencies or employee turnover, as well as external risks, such as changes in regulations or economic downturns. This assessment will provide a foundation for your risk management plan.
• Categorize risks: Categorize the identified risks based on their severity and likelihood of occurrence. This will help prioritize the risks that require immediate attention and resources. Focus on those risks that could significantly impact your business's ability to operate effectively or generate revenue.
• Create risk mitigation strategies: Develop strategies to proactively mitigate the identified risks. This may include implementing standard operating procedures, investing in appropriate technology and security measures, or diversifying your client base to reduce dependency on a single market segment or industry.
• Develop a contingency plan: Prepare for unexpected events by creating a contingency plan. This plan should outline the steps to be taken in case of a crisis or disruptive event, such as natural disasters, cyberattacks, or major system failures. It should include communication protocols, emergency contacts, and alternative methods for continuing operations.
• Monitor and review: Regularly monitor and review your risk management plan to ensure its effectiveness. As your business evolves, new risks may emerge, or existing risks may change in severity. Stay proactive by regularly reassessing your risk landscape and adjusting your mitigation strategies accordingly.
• Consult industry experts or seek professional advice to gain insights into potential industry-specific risks.
• Engage your employees in the risk management process by encouraging them to report any potential risks they identify and providing training on risk mitigation.
• Consider purchasing appropriate insurance coverage to protect your business from certain risks, such as liability claims or property damage.
• Stay informed about industry trends, regulatory changes, and emerging technologies that may impact your business's risk profile.

In conclusion, creating a successful business plan for a lifestyle management service involves a thorough understanding of the market, competition, and target audience. By following the nine steps outlined in this checklist, entrepreneurs can develop a comprehensive plan that covers all aspects of the business. From financial planning and marketing strategy to organizational structure and risk management, each step is crucial in ensuring the success and sustainability of the business. By focusing on customer service, quality assurance, and data security, entrepreneurs can build a trusted brand that attracts and retains clients in the competitive industry of lifestyle management.

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$58,150 in 5 Months: How to Build a Lifestyle Business Step-by-Step (Emails, Tools, Everything)

By Nat Eliason in Entrepreneurship

Published or Updated on Jun 02, 2016

At parties, reunions, and in emails, I’ve been getting this question a lot:

“It seems like you just travel, write, and goof off. If you don’t have a job… what are you doing for money? How are you affording this?”

When I’m a little drunk, I like to say “magical internet money” since it sounds mysterious.

But the more honest answer, is: “I built a business called  Programming for Marketers  that funds my lifestyle with almost no ongoing work.” A “lifestyle business,” for those new to the term.

Most people assume that you can either start a business and be 110% focused on it, or you can have a day job.

They don’t realize that there’s an in-between: businesses and products that keep paying you substantial amounts of money, even after you’re done working on them. A passive income.

And if you want to be a full-time creative, or build a bigger business that will take a long time to start paying you, or travel around the world posting obnoxious Instagrams, then  having some sort of passive income is an incredible asset . It frees up your time to focus on the  fun work  you want to do, even if it’s not paying you yet.

When I explain that this is an option, everyone wants to know how to do it. And despite what some sites will make you think: there’s no silver bullet, no secret tactics, and it’s not easy.

But, with the right model and story to learn from and emulate, it’s certainly possible.

All I can do is tell you exactly how I did it. Every detail, every email, every landing page, every mistake, in the hopes that it gives you what you need to make this happen for yourself.

I don’t pretend to be the expert at passive income or lifestyle businesses. But I did pull it off, and I know you can too.

If you want to learn more about building a lifestyle business with SEO in particular, be sure to check out my course SEO for Solopreneurs .

Heads Up: Old Article

Hi, this is 2020 Nat interrupting 2016 Nat.

This article is still really good! And you should read it, especially if you're early in your entrepreneurial journey.

You should also check out this video on a more recent iteration of this technique, which led to launching an info product that made over $400,000 in 9 months.

Alright, enjoy the rest of the article! 

Inception: 4-Hour Workweeks, Stubbornness, and Time Constraints

I ended up becoming interested in this idea the same way many people do: by reading  The 4-Hour Workweek .

I was extremely interested in the idea of building a self-sustaining lifestyle business and not taking a corporate job but ultimately did little with it for 4 years. I was still in school and there was no pressing need to build a lifestyle business, so why should I bother? (I’m not advocating this reasoning, but that’s what I did).

While I never got serious about building something, I did tinker (screw around) a lot. I started a blog teaching people how to improve their habits, started a subscription site providing customized meal plans (programmatically), did  Fratboxes , and half a dozen other little projects and experiments that let me get my feet wet with starting things, experimenting, and picking up some valuable skills.

I’d estimate that I started 20+ projects before Programming for Marketers, with 3-4 of them becoming serious time commitments. But those first projects don’t get big articles written about them since they didn’t last, so if you’re just starting out,  don’t put too much pressure on yourself to get it right the first time.

No offense, but you probably won’t. Know when to quit and move on to the next thing, and you’ll get it eventually.

The Turning Point: Having a Time Constraint

That tinkering continued until right before senior Spring in college when I realized that I was graduating with no job lined up and no interest in lining one up either.

After working for myself for a year, I knew I didn’t want to go work for someone else, so I knew I needed to figure something else out. (Granted, I did end up taking a job for 8 months,  that story is here ).

The time constraint of 6 months until graduation was a blessing in disguise. It pushed me to work extremely hard and fast, taking advantage of  Parkinson’s Law  on a longer timescale than usual, and build something faster than I otherwise would have.

If you’re trying to do this yourself, I fully believe  a time constraint is a key factor . Create some sort of deadline for yourself, by quitting your job, putting money on the line at  Go Fucking Do It , or other scary motivator. I hadn’t fully appreciated the power of stakes until starting work on P4M.

Key Takeaways:

• If you’re going to do this, set up some sort of time constraint so you get shit done. It’s easy to procrastinate when you have a nice salary and no urgency.
• Don’t obsess over getting it right the first time. Tinker a lot, and it’ll work out eventually.

Step 0: Having Useful Skills

Before I get into building the business, there’s an important point that many lifestyle business bloggers ignore because they don’t want to hurt your feelings or scare you off.

If you don’t have some relevant, valuable skills, or the ability to  teach yourself new things , you’re not going to have a good time. You’ll be more likely to waste years on something going nowhere, or fail and then blame someone or something else for it.

What skills those are will vary, but I can’t imagine someone succeeding at making a lifestyle business without these skills (or the ability to pick them up quickly, ask a friend about them, etc.):

• Website creation (not HTML etc. WordPress is fine)
• Marketing (any combo of SEO, social, email, community)
• Copywriting (writing compelling sales pages, emails, etc.)
• Self-direction (setting goals, staying productive without management, etc.)

If you don’t have some of those skills, here’s the quickest way to start getting familiar with them:

Website creation:  Make a site with BlueHost +  WordPress  and just start messing around. It’ll make sense pretty quickly.

Marketing:  Read how to  grow a site from 0 to 10,000 visitors a month .

Copywriting:  Read the “ Boron Letters .”

Self-direction:  This one’s a bit harder, but read “ How to learn in the real world ,” “ Subconscious sabotage ,” and “ Quantitative life goals .”

Now, don’t worry. If you read this section and got freaked out about “not being ready,”  you should still go for it .

Collecting tons of information you don’t need is a  waste of time  and form of procrastination, so don’t go overboard by taking a bunch of courses and reading dozens of books hoping that after enough of them you’ll feel “ready.”

It’s better to learn the bare minimum above, get started, and fill in gaps in your knowledge as they appear.

Key Takeaways

• Build some relevant skills, which you can start doing with the resources above.
• Collecting information is frequently a form of procrastination. Start doing, then seek answers to the questions you run into.

Step 1: Finding The Idea

When I was trying to grow my startup before  Programming for Marketers , I had hacked together a bunch of python scripts to automate pieces of our marketing. Little bits of code that could post to Twitter, manage our email funnel, things like that.

One weekend, I realized that other marketers might want to know how to do that. So I bought the domain www.programmingformarketers.com, put up a super ugly landing page, then posted to reddit/r/marketing about it.

I collected ~100 emails… then did absolutely nothing with them.

Fast forward 8 months. I was talking to my friend  Justin  who I’d done some marketing projects with. We wanted to partner on building a lifestyle business, but what?

He’d created  SQL for Marketers  a while ago, and it had become one of the most popular courses on Udemy. The conversation went something like this:

Justin:  “Yeah so with how well SQL for Marketers has done, I’m wondering if there’s a market for video courses teaching marketers other technical skills as well.”

“You mean like… programming for marketers?”

“Yeah exactly!”

“Funny story…”

Agreeing that there was an opportunity here, we got to work.

• ‍Solve your own problem, or share your skills in a new and interesting way.

Step 2: Determining How to Validate the Idea

We knew the end goal was the build a video course that people could buy with an automated sales funnel, but setting all of that up is a huge investment. We didn’t want to spend time making it if we weren’t  certain  that people would buy it. This is called “validating” the idea.

So we asked ourselves:

What’s a lightweight version of a video course that we could use to test whether people would be interested in the topic of “technical marketing”?

The answer was a free email course. Not only would it test if people were interested in the topic, but while validating it we’d be building the sales funnel at the same time!

To be clear, we didn’t invent this tactic. We looked at other people who had video courses that were selling well (specifically  Kopywriting Kourse  and  Double Your Freelancing ), and copied their methods. Both use an email course to upsell the video course.

We’d figured out how to prove that people were interested in the topic; now we just needed to see who would sign up for it.

• Do not build before you know people are interested. Find the simplest way possible to test interest.
• Validate your idea with real potential customers, not just friends.
• Look at what similar businesses have done to test their ideas, and copy it.

Step 3: Making the Email Course

We wrote out everything we could conceivably cover related to technical marketing, coming up with ~50 lessons, fitting into 12 broader themes.

But obviously, we couldn’t make a 50 lesson email course. It’d be too long, and then there’d be no reason for someone to buy the paid course, so we picked the 7 that looked the most exciting. We focused on ones that could quickly make someone go “whoa, I can  do  that?!” and that anyone could use.

For example, a lesson on Twitter automation was extremely popular because almost all marketers use Twitter, and would love to easily automate it. A lesson on Adwords automation would have been less exciting since not everyone uses Adwords.

A very important note:  We didn’t write any of the lessons yet . There was no point in putting time into writing them if no one wanted to sign up for the email course.

It was the same principle as making the email course in the first place: prove interest, then build.  Don’t build hoping for interest .

All we did was put together good headlines for the 7 lessons and very brief outlines. Then I put together a simple landing page to advertise the free email course.

Designing the Landing Page

Just like we took inspiration from existing video courses for how to validate the idea, we took inspiration from existing email courses for how to design our landing page.

I looked at  Email1k  and  Charge What You’re Worth , and more or less combined their pages into one of our own. For reference, this is what they looked like back then:

And Email1k…

This was my first iteration:

Building it only took a few afternoons. I used BlueHost to host the landing page, installed  WordPress  on the site, and then used the “Divi 2.0” theme by Elegant Themes.

To be clear,  I’m not a designer.  I just made two existing designs have web-design sex with each other, and this was their baby. The theme made it stupid easy since all I had to do was drag and drop pieces to make it look the way I wanted, then tweak the CSS a little bit.

We got some feedback on V1 from marketing friends, and eventually landed on this design for the launch:

The only thing that’s changed since then is removing the timer, and it still converts ~25-30% of all visitors.

Setting Up Email Collection, and Building Virality

Last, we needed to setup the site to collect emails, and to build in some virality.

The theme had a built in widget for email collection, so all I had to do was connect that to a  MailChimp  account that I could send emails from.

Then, I wrote an email that would go out as soon as someone signed up, asking them to refer a friend to the course in exchange for a free PDF of automation hacks that they could do immediately.

This referral bonus was extremely successful, boosting our signups by ~30% (each signup brought in .3 more people). If you’re curious how to do that yourself, we covered it in the first lesson.

With all of this setup, we were ready to roll and see if anyone would sign up.

What I’d Do Differently

First off, we didn’t automate the PDF delivery for referrals. I won’t ruin the surprise but suffice it to say that Justin had to manually send a LOT of PDFs the day we launched. I eventually automated this through  Zapier , but there’s a better option.

I later worked with Noah Kagan to build  Traffic1m , and in doing so coded a nice little referral system that people who signed up would move through (you can see the pages  here ,  here , and  here ).

And while you could code that yourself, Bryan Harris built a tool called “ Smart Bribe ” that does it all for you and drops right into your page, so I’d just use that.

Also, when we launched, there was no exit-intent opt-in in case someone showed up and was about to leave. If I were doing it now, I’d add  SumoMe  to capture people who don’t sign up right away (we have it set up now, and it gets an additional ~10% of visitors to sign up).

• Focus on the most interesting core of your product that you can use to test interest.
• Make it as easy as possible for people to sign up.
• Don’t obsess over perfection in the testing phase, get something out there.
• That said, make it good. This should get people excited about what else is to come.
• Get feedback from knowledgeable people (like on the landing page).
• Make it easy for people to tell their friends about your product.

Step 4: Promoting the Email Course

The moment of truth: would anyone sign up for this email course? If no one was interested, we would have tossed the whole thing. There was no point in putting time into making a video course if no one wanted  free  written lessons.

We decided to launch it on a Thursday, with the  quantitative goal  of 1,000 email signups by Monday. Where did the goal come from? We just made one up. Wish I could say it was more scientific than that… but it wasn’t.

On launch day, we posted to  Product Hunt ,  GrowthHackers ,  Hacker News ,  Reddit Marketing , and  Inbound  letting people know about it. These posts drove 90% of the traffic and signups since the audience was hyper-targeted.

During the launch period of Thursday to Sunday, here’s how our traffic broke out across channels (Direct is some combo of GrowthHackers, Inbound, and referrals from signups):

For each place we posted, we asked some of our friends to help us by upvoting our submission. Yeah, you’re not supposed to do that, but everyone else is, so if you don’t do it a little bit you’ll have a hard time getting noticed.

Just don’t overdo it and get penalized like we did with Hacker News. Actually, don’t try to game HN at all, as far as I’ve found it’s impossible. It sent a ton of traffic briefly, but then they caught on and kicked us off the front page after ~30 minutes. Sad Nat.

We also posted to our Facebooks, Twitters, and LinkedIns. These all drove significantly less traffic, though, barely a rounding error as you can see.

By Sunday night, we’d amassed ~2,800 signups, well above our goal of 1,000. This was the validation we needed to go ahead with making the email course.

These days, Product Hunt isn’t a huge fan of email courses, so it’s hard to get them on the “Featured” page where all the traffic comes from. There are other services popping up to fill in the gap, like  Email Course Stash , though, so you can try those as well.

I would have been more careful with Hacker News. I didn’t realize that they were so strict with gaming the system, or rather, how good they are at catching people.

Having an existing audience, like this site, would have helped immensely.  The best time to start building an audience is now  because you never know when it will come in handy. More on that in another article.

If we had planned some lessons with influencers in the space (highly recommend this), then I would have asked them to email their lists, post to social, etc. That could have driven a ton more traffic and noise that we didn’t get by not having as much market recognition.

• Figure out where your target customer hangs out, and tactically promote yourself there.
• Set a goal to measure your success by, otherwise, you might convince yourself that something worked when it didn’t.
• Start building an audience now, it will be your most useful asset.

Step 5: Writing the Email Course

With the interest proven, it was time to write some insanely great lessons.

We launched the landing page on Thursday, promising the course would start on Monday, so we had to immediately start putting the lessons together. We had our outlines to go off of, but for the most part, we were finishing them just in time for the next scheduled release.

It was a bit hacked together and last minute, yes, but it worked and people loved the lessons. We even had people asking us when they could buy the full course…  without us ever mentioning a full paid course .

As we were making the lessons, we added virality to them as much as possible by giving people bonus content in exchange for sharing lessons on Twitter, Facebook, LinkedIn, etc.

This helped immensely with getting more traffic back to the course without having to constantly promote it, and is a big part of how it’s managed to get  500-1,000 new signups per month since launch with no additional work .

Once all the lessons were done and had been sent out to the first subscribers, we put them into a  MailChimp  automation campaign which would send them to new people who signed up in 2-day intervals. This way we didn’t have to send any more emails, they would keep going out automatically.

With the interest proven and the email course running on its own, now we needed to see if anyone would pay for more.

• Build virality into your system so that customers and subscribers can tell their friends about you for bonuses.
• Once something works, figure out how to automate it. Don’t do the same thing manually more than a couple times.

Step 6: Proving People Would Pay

Just because people signed up for a free course didn’t mean they’d put money down, so we needed to make sure they would buy it if we made a full paid course.

First, we emailed the list asking what else they’d want to learn about technical marketing. Then we added their responses to our existing outline, giving us a full list of everything we could cover in the course.

From this, we made a super janky landing page describing everything that would be in the paid course. It listed all the lessons, bonuses, how it would be structured, etc. and we emailed it to 300 of our “5-star” students (ones who had opened almost every lesson).

We also put together a landing page for a Technical Marketers “mastermind group,” and emailed that to another 300 students.

The paid course pre-order was for $500, the mastermind group was for $50 a month.

And…  no one bought either . We realized that the mastermind group was the wrong move and that we’d set the pre-order price too high.

We emailed everyone back, apologized, and offered the pre-order for $250 instead.

After this email,  we pre-sold $10,000 in the course without ever making a lesson , which was the validation we needed that people were willing to pay for it.

With that done, and with the pre-orderers waiting for their lessons, it was time to start recording.

What I Would Do Differently

Our pre-sale page was ugly ugly ugly and the copy was not great. I’d put more time and some money into making that look awesome if I did it again, but hey, it worked!

I’d also have been more tactical on the pricing, using a method I mention later. We just picked a number out of thin air and ran with it.

• Validate interest before you build! Pre-sell if at all possible, on your own like we did or through Kickstarter, Indiegogo, etc.
• Recognize when you made a mistake, be honest about it, and try again.

Step 7: Making the Course

When we created the landing page for the preorders, we had to list out what the course was going to have in it, which made it easy for us to direct our efforts with putting the course together.

We started with a marathon weekend in SF. I flew out to Justin’s place and we locked ourselves in his apartment to get as much of the recording done as we possibly could before going back to working on it remotely.

This is where things got tricky. Making the video lessons, between planning, recording, and editing, took 3-10x longer than we’d anticipated. Our original goal had been to overload on caffeine and get everything done that week, but we had to scale that back to just getting 2 of the 8 modules done.

As we completed each module, we loaded it into our course on  Teachable . They make it stupidly easy to host video courses like this, so we didn’t have to worry about the backend of making the course.

Then the early buyers would give us feedback, and we’d make tweaks while working on the next unit. We released a new unit every few weeks until we’d filled out the initial ones that we’d planned on, at which point it was time to do the full launch.

We tried to be way too professional with our production and ended up in this awkward middle between casual and professional, which made some parts a little weird. I wouldn’t focus on trying to make it look like a studio made it; I’d just focus on awesome useful information.

• Things will take longer than expected, so be ready to adapt your schedule.
• Focus on quality of content, not necessarily the quality of appearance. It’s important to look good, but people will forgive roughness around the edges for awesome material.
• Use a simple system for hosting your content, like  Teachable .

Step 8: Launching the Course

Now that we had the first version of the course done, and some people in it leaving feedback, we had to launch the full thing to our entire list.

The landing page, or sales page, is the most important point of contact that you’ll have with your potential customers. It needs to convey everything covered in the course, and show them why it’s a good decision to invest in what will likely be a non-trivial purchase.

Justin and I did the copy, and  Adil Majid  did the design and layout. We had hired another copywriter originally but ended up not being happy with their work and did it ourselves.

Then, once again, we sent the landing page around to some friends for feedback. We tweaked the copy, plugged in prices, and  we were good to go .

For pricing… we just made it up. I’d love to say we came up with some crazy formula or method, but we didn’t. We just picked some numbers that sounded good.

Sales Emails

Next up was writing out the sales emails. We used Jeff Walker’s “ Launch ” strategy from his book by the same name, with a few inspirations from Bryan Harris’s  first launch article  to round it out.

These emails broke out into (you can get the exact emails we used in the bonus material):

• One announcement email, asking people to respond with what they’d want to see in the course
• Three pPre-sale emails, with bonus lessons on technical marketing. These were the first video lessons anyone received too, which made them more exciting
• One email announcing the sale was about to start, with an early bird discount.
• One email at the start of the early bird window
• One at the end
• One the next day announcing more bonuses for the next few days
• One at the end of the few day “extra bonuses” window
• Another one announcing the course would stop being for sale in a few days
• One last day warning one
• One last few hours one
• And then we sent an email after it had “closed” to everyone who clicked on the link to buy, but didn’t buy, offering them a special payment plan where they paid over 6 months instead of 4.

Writing these ended up being incredibly difficult. Good sales copy is hard, and I’m not sure we’ve put that much time into writing emails since then. It completely burned both of us out and isn’t something anyone should take lightly.

And, Launch!

Then on the date we’d chosen, we opened the cart, and the emails started going out.

Over the next 10 days, we made $48,150 in sales , some people paying up front and others paying out over 4-6 months.

For pricing, I would have tested it a lot more, using the method in Bryan Harris’s article. That would have given us a better idea of what was reasonable before doing the pre-sale.

I also wouldn’t have done quite as aggressively long of a sale. Our readers were burned out by the end, and ~15% of our list unsubscribed. I would shorten it to 5-7 days, or just send fewer emails. Most people bought at the deadlines with hardly anyone buying in-between them, so I bet we could have sandwiched the deadlines together.

Step 9: Automation

After the cart had been closed for a while, we decided to add some of the sales emails to our drip, and let the paid course promotion happen automatically as well.

I think of all the places we messed up, we messed up most by not doing this sooner. We waited almost 6 months to automate the sales funnel (for not great reasons) and I wish we had done it right away.

This way whenever someone joined the list, they would get the 7 lessons, then 3 bonus lessons and be sold on the course. This now brings in ~$3,000 in non-sale months with 0 work, which is a great small passive income source.

If we want to do a big sale in the future, all we have to do is turn off that part of the funnel for a month. And the people who don’t buy can always be re-engaged, too. I did a one-day sale a couple months ago just to see how engaged the list still was, and  it sold   over $18,000 .

Automate your sales funnel sooner rather than later, you can always sell to people again.Occasionally test interest by doing small sales.

Step 10: More than Just the Course

The whole asset of “Programming for Marketers” has provided revenue opportunities beyond just the course, too.

We have affiliate deals with BlueHost and Elegant Themes which pay out $100 and $45 respectively, and we’ve been able to promote other people’s launches, courses, and products that are relevant to the list.

We have a  Kindle eBook , a mini course on  SQL for Marketers , a couple  Udemy  courses… There are lots of little ways to get extra monetization from a site and product like this.

If you’re going to build a lifestyle business, think beyond just your main income stream. There will likely be one big one, but there will also be lots of little other ways you can earn revenue from it.

• Think about other ways you can provide value to your list beyond just sending them more of your own content.
• Get creative with your monetization, don’t rely on just one channel.

And if you want to learn more about building a lifestyle business with SEO in particular, be sure to check out my course SEO for Solopreneurs .

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Mi Lifestyle Business Plan PDF Download

Download Mi Lifestyle Latest Full Business MLM Plan PDF for free – Mi Lifestyle Income and Business Plan PDF

This post will provide you with a PDF of the complete Mi Lifestyle Business Plan.  You can find the latest Marketing and Business Plan for Mi Lifestyle,  which you can also download in PDF format   at the end of the post.

Mi Lifestyle Marketing Global Private Limited  is an  Indian Legal Direct Selling Company , that started a few years back & is currently on the boom. 

In this post, we will discuss the MI Lifestyle Business Plan followed by the Download PDF button. Before moving to Business Plan, we will have a few details regarding Mi Lifestyle.

Mi Lifestyle Business Plan

Mi Lifestyle is one of the product-based  MLM companies , started on 13 August 2013 with directors named ”  Mohammed Omar Arshak Jawhar  ” and ”  Vitatobha Suresh  “. The Mi Lifestyle is registered in Chennai, Tamil Nadu.

Mi Lifestyle is a member company of FDSA (Federation of Direct Selling Association). 

• Winfinith Business Plan PDF
• Vestige Business Plan PDF

If we discuss the working of Mi Lifestyle, after joining, the Direct Seller has to perform two major tasks. The total earning of every Direct Seller depends on these two major tasks.

1. Products Selling

When a person joins Mi Lifestyle as a Direct Seller, he/she has to purchase the company products and sell them further. On each successive sale, the Direct Seller earns a fixed amount of retail profit. The following formula can calculate the retail profit.

Retail Profit  =  Product MRP – Product Price for Distributor

2. Recruitment

Not only purchasing and selling products but building an active Downline is also a plus. i.e. the Direct Seller needs to add a new Direct Seller in the downline to earn passive income. When a person from the downline makes any purchase, the upline member also gets a part of the commission.

Mi Lifestyle Business Plan PDF

If you wish to have the Business Plan PDF on your device click the below button to start the download.

Mi Lifestyle Incomes

There are mainly 9 types of income according to the Mi Lifestyle Compensation Plan.

• Retail Profit
• Sales Turnover Bonus (Weekly Payout)
• Rank Income (Monthly Payout)
• Performance Bonus (Monthly Payout)
• Star Performance Bonus (Monthly Payout)
• Loyalty Bonus (Monthly Payout)
• Royalty Income (Monthly Payout)
• NTC Bonus (Monthly Payout)
• Awards and Rewards

Source: www.milifestylemarketing.com

Mi Lifestyle Products

The Mi Lifestyle Products Price List includes more of the element category products such as soap, shampoo, toothpaste, on and on Nutrilite powder , and many more.

It provides the Direct Seller an opportunity of getting a regular customer base.

We hope you liked our article on  Mi Lifestyle Marketing Global Private Limited Business Plan PDF . Also, you received the Mi Lifestyle Business Plan PDF .

If you have any questions or suggestions, then do let us know in the comment section.

2 thoughts on “Mi Lifestyle Business Plan PDF Download”

Direct selling play a significant role in every normal person life if he do it seriously aa part time or full time as per his requirement . It can change his life on 360° and make a person from Ordinary to extraordinary . After covid 19 situation are favourable for direct selling and noe every person want to increase his immunity power and some direct selling companies products can fulfils this and increase immunity power and not only health but wealth also because direct selling work health and wellness and direct selling is the only way to increase his wealth with Health. So every person who’s age between 20 to 45 must do it and take it as a self business and feel like businessman. Jai Hind Jai Milifestyle Amit Sharma Bikaner ( Rajasthan ) Bikaner

INDIAS BEST PLAN PRODUCT PAYOUT COMPANY & I LOVE MI LIFESTYLE MANAGEMENT & My salute to the people who created this plan, I am proud to work with such a great industry

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How to Make a Business Plan for Your Life

What’s the meaning of life? is so rhetorical sometimes, so open to interpretation. It’s a question we ponder—a question that rarely has a concrete answer or solution attached. But what if you change that question to What’s the meaning of my life?

Allison Rimm can help answer that question, and she can do it in eight strategic steps designed to guide readers to realize their life potential and to help them achieve their ultimate goals.

“It is my mission to help others transform their skills and aspirations into a fulfilling life,” she says. “A life where our work is well done, our cherished ones well-loved and our potential realized. That’s what we’re all after, and it doesn’t just happen .”

The Joy of Strategy (biblio motion books + media, September 2013) is a business plan for life. It takes more than pondering the idea of what your life could be; it takes strategy to get to where your life should be.

“Because we’re not after just any success,” Rimm says. “We want soul-satisfying success.”

So, first thing’s first. Get organized—get strategic. These are Rimm’s steps for a life plan that balances all of the important things, like a career; relationships; and mind, body and spirit:

1. Mission: Find your purpose

“Your personal mission is nothing short of your purpose here on earth, and you’ll start your personal plan by spelling it out,” she says. She acknowledges that it sounds lofty, but she says the questions What do I love to do? and What am I good at? are a start to finding your mission.

2. Vision: Imagine the sweet smell (sound, look and feel) of success

“You can’t figure out what stands between where you are and where you want to be and how you’ll travel the distance until you can clearly see your destination.”

3. Name your critical success factors: What you need to succeed

“By writing it all down, you are taking a tangible step toward making your vision a reality.”

4. Find your sweet S.W.O.T. (strengths, weaknesses, opportunities and threats)

“This is the point in the strategic planning process where we finish looking at who we are and prepare to think about what we do.”

5. Set goals: What you need to do to get the results you desire

“Your goals and priorities represent what you want to do in the short-, medium- and long-term. When you complete this step, you will have a well-balanced view of what you want to achieve and how you would like to be spending your time.”

6. Perform a time and emotion study           

“A strategic plan for your life requires being mindful about what you want to achieve in your heart of hearts and deliberately using your limited resources (time, money, energy and attention) to get the results you want.”

7. Select successful strategies

“When there’s not enough time to do everything, it’s important to put your efforts toward those activities that are most efficient, effective and enjoyable.”

8. Get going! Your simplementation plan

“You will take one small step at a time until you build up some momentum and become an unstoppable force moving toward your vision.”

Rimm wants everyone to be able to look back on life and feel joy and total satisfaction. She says you don’t have to, and shouldn’t, leave your dreams to chance.

“The beauty of this process is that it meets you where you are and takes you where you want to go.”

Jessica Krampe

Jessica Krampe is the digital managing editor for SUCCESS.com. A graduate of the Missouri School of Journalism, Jessica has worked for news, entertainment, business and lifestyle publications. Outside of the daily grind, she enjoys happy hours, live music and traveling.

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Resort Business Plan Template

Written by Dave Lavinsky

Resort Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their resorts.

If you’re unfamiliar with creating a resort business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a resort business plan step-by-step so you can create your plan today.

Download our Ultimate Resort Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your resort as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan

If you’re looking to start a resort or grow your existing resort company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your resort to improve your chances of success. Your resort business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Resort Businesses

With regards to funding, the main sources of funding for a resort are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for resort companies.

Finish Your Business Plan Today!

How to write a business plan for a resort business.

If you want to start a resort or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your resort business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of resort you are running and the status. For example, are you a startup, do you have a resort that you would like to grow, or are you operating a chain of resorts?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the resort industry.
• Discuss the type of resort you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of resort you are operating.

For example, you might specialize in one of the following types of resorts:

• Health Spa Resort : this type of resort provides individual spa services and helps visitors develop health habits.
• Ski Resort: this type of resort includes downhill, cross-country, or similar skiing areas with ski lifts and tows. These resorts often provide food and beverages, equipment rentals, and ski instruction, as well as accommodation.
• Eco-tourism Resort: this type of resort focuses on environmental sustainability, offering programs to minimize their eco footprint. Some eco-tourism resorts offer an immersive experience such as living among animals in a jungle.
• Destination Resort: this type of resort contains everything needed, such as accommodation, food service, attractions, shopping, etc.
• All-Inclusive Resort : this type of resort charges one fixed price that includes lodging, unlimited food, drink and sports activities, and entertainment.

In addition to explaining the type of resort you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of overnight guests, the number of conventions hosted, reaching and/or maintaining X percent occupancy rate, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the resort industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the resort industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your resort business plan:

• How big is the resort industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your resort? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your resort business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: domestic leisure travelers, international leisure travelers, business travelers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of resort you operate. Clearly, business travelers would respond to different marketing promotions than international leisure travelers, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

Finish Your Resort Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your business plan?

With Growthink’s Ultimate Resort Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other resorts.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes hotels, short-term rentals, or even relatives who live in the area. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of customers do they serve?
• What type of resort do they operate?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide extended stay options?
• Will you offer amenities or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a resort business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of resort company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide accommodation-only options, all-inclusive packages, accommodation/service packages, day visitor packages, etc.?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your resort. Document where your resort is situated and mention how the site will impact your success. For example, is your resort located in a busy tourist town, near a tourist attraction, or is it a remote destination? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your resort marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Advertise in trade publications or on national TV
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your resort, including answering calls, booking rooms and services, cleaning between guests, providing concierge services, customer service, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth guest, or when you hope to reach $X in revenue. It could also be when you expect to expand your resort to a new city.  

Management Team

To demonstrate your resort’s potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing resorts. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a resort or successfully running a boutique hotel.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you have 25 or 100 guest rooms? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your resort, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a resort:

• Cost of furnishing each guest room
• Cost of building out common areas and/or service facilities (spa treatment rooms, etc.)
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your resort blueprint or a list of amenities and services you offer.  

Writing a business plan for your resort is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the resort industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful resort.  

Resort Business Plan Template FAQs

What is the easiest way to complete my resort business plan.

Growthink's Ultimate Resort Business Plan Template allows you to quickly and easily write your resort business plan.

How Do You Start a Resort Business?

Starting a resort business is easy with these 14 steps:

• Choose the Name for Your Resort Business
• Create Your Resort Business Plan
• Choose the Legal Structure for Your Resort Business
• Secure Startup Funding for Your Resort Business (If Needed)
• Secure a Location for Your Business
• Register Your Resort Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Resort Business
• Buy or Lease the Right Resort Business Equipment
• Develop Your Resort Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Resort Business
• Open for Business

Don’t you wish there was a faster, easier way to finish your Resort business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how Growthink’s business planning advisors can create your business plan for you.

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By The New York Times

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I quit my tech job to be a stay-at-home boyfriend who cooks, cleans, and sews for my girlfriend. I have no plans to return to the 9 to 5.

• William Conrad, 25, and his girlfriend Levi Coralynn, 26, have been together for three years. 
• Conrad is a stay-at-home-boyfriend, while Coralynn, a content creator, supports them financially. 
• Conrad previously worked in tech but has no plans to return.

This as-told-to essay is based on a conversation with William Conrad, a 25-year-old stay-at-home boyfriend and content creator from Canada. The following has been edited for length and clarity.

For the last three years, I've been a stay-at-home boyfriend. I cook, clean, and do the laundry — and I've never been happier.

My girlfriend Levi is big on social media and makes enough to provide for us both financially. She works from home, and I do 90% of the domestic chores. Our dynamic very much flips societal norm on its head, but it works for us, and we love it.

On a typical day I wake up a little earlier than Levi to make us some coffee. We usually share a coffee, hang out for a while, and do Wordle together. Then, she'll do some work while I either prepare food or do other household chores. If we're not ready to eat, I might do some work on the computer alongside her.

Since she works from home, we pretty much spend every minute of every day together, which I love because she's my best friend before anything else.

We lead a very communal life, and that applies to how we navigate money too. We've never had the perspective of "this is my money, this is your money." It's very much a joint venture, and most of our purchases are done together anyway.

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I help with the backend of her business, doing the accounts and bookkeeping, just as much as I do things around the house.

Being a stay-at-home boyfriend allows me to do what I love

Levi and I met on Hinge around three years ago when we were living in different cities. I was living in Toronto, near where I grew up, while she was in Alberta. We started talking online and knew we needed to meet in person, so she came to see me in Toronto.

Our first date was a week long and we stayed in an Airbnb . Shortly after that, we moved in together in Ontario, and we've been together ever since.

Growing up, I didn't have a strong sense of what I wanted to do, but I knew I didn't want to sit in an office all day looking at a monitor. I've always liked creating things and working with my hands. But I ended up studying computer science at college and then found a job at a tech startup .

When I met Levi, I was doing freelance jobs here and there, and some more consistent stuff in the tech world. She was deep into her career as a content creator and needed help running her online business. She thought I'd be the perfect fit and asked if I would work for her. So I quit my job and became a full-time stay-at-home-boyfriend.

It wasn't that I didn't enjoy my job, but this was just a greener pasture that I could step toward. It was an opportunity that was better suited to me, I think, in the long run. I was really into cooking and sewing before I even met Levi, and this meant I could focus on those interests more and hone my skills.

I have no plans to return to the 9-to-5 and would only do so if our online businesses stopped working.

I started posting online to show the world a softer type of masculinity

In August 2022, I started posting snippets of my life on TikTok. My videos mainly showcase the meals I cook for Levi, but sometimes it's me braiding her hair, hemming her clothes, or fixing things around the house. I'm soft-spoken and have a gentle manner, and the comments from my mainly female audience have been overwhelmingly positive. These are all things I do anyway, but it was Levi's idea to share it with the world.

It was around the time that Andrew Tate , the anti-feminist influencer, was really popular, and there was an oversaturation of toxic masculinity online. We saw this need and an opportunity to present a kind, loving man in the online space. One thing I'm very proud of is showing the duality a man can have. I have both feminine and masculine characteristics, but I'm still a man.

I was raised in a very nurturing household where both my parents worked and split the domestic tasks evenly. Everyone contributed to the household, and gender was never tied to a specific role, so living this way has never affected my sense of masculinity.

Social media is giving young men a skewed image of what women want

Women often comment things like "Where do I buy mine?" on my content. And while it's always nice to hear that someone thinks I'm a good boyfriend, it's also sad that a loving dynamic seems to be a scarce thing.

Lots of women are looking for a man who will cook them a nice meal and be gentle, but maybe not enough men value these things.

I think toxic masculinity on social media might be giving young men and boys a skewed perspective of what women want. I hope to inspire other men to lean into their feminine traits more without feeling like it threatens their manhood.

Watch: It's tougher out there, says Diageo North America's chief marketing officer; "Productivity is really important"

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