If you are given two routes to follow as a career – Startup Path and a Lifestyle Business, which one you would go for? People with entrepreneurial aspirations tend to waver between these two paths. Well we believe majority of the people with entrepreneurial aspirations should better start a lifestyle business than pursuing a startup. Following reasons will convince you to follow our belief:
Building a startup is building a 9-to-5 Job:
The fun and excitement that comes in with the start of a startup tends to wane away soon and the monotony sets in. Many startup companies turn into those horrible 9 to 5 jobs for the founders.
They get over involved in day-to-day details and work and work harder than anyone else does but they fail to reap the benefits that they expected to get as an entrepreneur. For example, Jun Loayza who after getting over a million in funding and successfully selling two companies, left his current startup to practice a lifestyle business.
Startup takes years to turn investment into profit:
Suppose you have sufficient money to start a business but no way to turn those means into profits, then it’s of no use. When you work for yourself, you are the boss.
However, being a boss is not very easy. You are the one who will have to manage the salaries of the employees working under you, the office premises, benefits and everything. That is all on you. Therefore, you need to have a business that reaps early profits. However, most startups take a general time of three years to generate profits.
Freedom to choose workplace:
A lifestyle business lets you decide when and where you want to work.
Whether it is working from a beach with a cocktail or working from a room sitting on your favorite comfortable couch, all this is possible if you are into lifestyle business. All you need is a good internet connection to keep your work going.
If you desire more flexibility in your work schedule and pattern, lifestyle entrepreneurship is the best option to go for.
A lifestyle business is one that sponsors the lifestyle you want to live, which is in total contrast to startup business especially when you are playing with other’s money.
A startup entrepreneur can never keep stress at bay. However, lifestyle entrepreneur can continue without or least amount of stress because he has no one to answer to but themselves.
Are all startups bad? Of course, not! However, if you’re looking to maximize your enjoyment while have the freedom and security that comes with knowing you have full control of your life, then a lifestyle business may be exactly what you need.