No point getting straight into my top tips for starting a profitable, lifestyle business when you’re probably wondering “What even is a lifestyle business?”
A curious mind is a brilliant mind and I’m so glad you’re here.
Before I explain exactly what a lifestyle business is, first, let me clear up what it isn’t.
It’s not a get rich quick card. It’s not a, “Oh cool, I get to sit around, not do much and money will just roll in!” (although that may eventually be the by-product of a very successful lifestyle business), it’s not a ticket to escape doing the work. Now we’ve got that out of the way and you’re still with me, let me get into what a lifestyle business is all about and the 5 main advantages that come with having a profitable, lifestyle business.
A lifestyle business is a business model that allows you to create a life around your passions. You’re not living to work, you’re working so you can live. Live a life that is aligned with your highest purpose and deepest desires.
A lifestyle business is designed to give you time, location and financial freedom.
It’s a relatively new concept. Created in the technological era (21st Century). By leveraging the internet, we’re able to stop trading our time for money, through things like digital business systems, monetising our social media channels, selling other people’s products for a commission or influencing our audience (in ethical ways, ofcourse) to purchase products we own.
Have you ever wondered if owning your own business would make you happier?
We all know so many people who start a business and end up going broke or have huge debts hanging over their heads because of a failed venture. It can really put a dampener on our dreams and make us feel icky inside when we think, “What if that happens to me…”
Failed business ventures happen for a few main reasons:
- No guidance or mentorship on how to actually build a profitable business and stay profitable over the long-term.
- Not knowing what to focus on, to keep cash-flow coming in.
- Trying to do everything themselves.
- Not a proven business idea/model
- Supply exceeding demand
Most business’ models end up taking away your happiness, rather than adding to it, right?!
If you’ve ever been out on your own, you probably discovered this the hard way, like I did.
Thankfully, there are better ways to make money thanks to this super cool thing called the internet.
The internet has made running a successful, profitable and stress-free business accessible and possible for anyone.
You might be thinking, ‘Yeah, right – it’s nearly impossible to make money online without a huge social media following.” Well like I said, I’m glad you’re here because I’m about to teach you a valuable lesson. Having a social media following doesn’t equal income. Making money is about relationships and how well you’re able to create relationships with your potential customers online. Your profit is in your list. Your email list to be specific.
If you focus on providing value to your email audience consistently, and they receive it well, there’s no reason they won’t buy from you. Consistency and sharing your story is key to making money online.
An online automated business system…
A purely online, business system that generates an income for you no matter where you are in the world and it doesn’t even matter if you’re sleeping or awake.
This is the closest thing to a happiness business I’ve ever come across!
Here’s 4 tips for starting your very own, profitable, lifestyle business.
1. Be Consistent
Even on the days where you don’t ‘feel like it’, spend at least 1 or 2 hours working on your business or yourself (personal development). Success is less about how and more about showing up, every single day. Momentum matters. 1 to 2 hours of focused effort, every day, will get you to that first lead or email subscriber and you’ll be making sales online in no time. If you consistently add value to your niche, you’ll begin leaving footprints and people will want to follow your lead. Small steps towards your goals, every day, will eventually pay off.
2. Connect With A Like-Minded Community
The value of a highly encouraging and supportive community is highly underrated.. We are wired to want to be part of a community so that we can be kept accountable for our actions. Surrounding yourself with like-minded people is extremely powerful and will help you unlock your inner entrepreneur so you can live an unlimited life. Speaking from my own experience, I knew I needed help changing my mindset. I was so conditioned to be an employee I couldn’t see a way out of my limited life. I’ve built my own successful, online business purely through the support and encouragement of The Six Figure Mentors community support and mentorship. I’ve met some life-long friends and my personal growth has been rewarding to say the least. The company you keep will affect your results in business and in life.
3. Do more than the bare minimum
While consistency is key in your entrepreneurial journey, doing the bare minimum, won’t cut it. Be creative in your approach and find new and innovative ways to add value to your niche. This will inevitably come back to your why. Why did you get started in business in the first place. If you get up excited every day, have a burning passion inside you and live life on purpose, you’ll always do more than the bare minimum.
4. Go Within Or Go Without
I believe, most of our external problems are first, internal problems that have manifested into reality. If you want to work for yourself and be your own boss, you’ll have to be very good at motivating yourself and solving your own internal problems. We can get coaches and therapists to help us see in places we can’t but this will come down to your budget and where your business capital is going. You can listen to a lot of self-help podcasts too but ultimately, the success of your business will depend on whether or not you can find your own motivation and keep going, even when times are tough.
I’ve chosen to affiliate myself with The Six Figure Mentors – a digital education company. They provide everything an entrepreneur needs to get started online. A one-stop shop with hundreds of success stories.
If you’re ready to stop trading your time for money, I recommend getting started with The Six Figure Mentors online education and digital business system. Selling a proven product, and learning the skills of marketing online is a must before diving head first into creating and distributing your own products. By using The Six Figure Mentors digital business system, you can build a solid foundation of digital marketing basics and advanced techniques to start and grow your very own profitable, lifestyle business.