The 5 Pillars of a Prosperous Lifestyle Business

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The 5 Pillars of a Prosperous Lifestyle Business
Image credit: Ryoko Uyama | Getty Images
VIP Contributor
Consultant and Lifetime Entrepreneur
5 min read
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I used to hate the term “lifestyle business.” In my mind I automatically started seeing all those spammy Facebook ads talking about the “laptop style.” I’ve come to see that lifestyle business is much more than the ads. It’s a business you create around the kind of lifestyle you want to live. It’s about creating the freedom to spend your time the way you to want to spend it.

I know there are many who read Entrepreneur, and many people I know in general, who want to build this kind of a business and lifestyle. We all know what it takes yet many give up before they make any real progress or money. It took me years before I made real money with this lifestyle business. I know the frustration that comes when you put in all the effort but don’t get much return. Here are five strategies that work.

1. Start by realizing what’s possible.

I hate to write about mindset because it’s one of those topics you hear about a lot. But, the reality is that if you don’t believe it’s possible in your life, you won’t do anything about it. You have to realize that you can build a lifestyle business around a topic you’re passionate about. Many have done it, but more than that, you have it takes. You are strong and powerful and can do anything that you set your mind to. Get that belief firmly ingrained in your mind if this is going to become your reality. You can’t move forward without a firm belief in what’s possible to those who take action.

Related: How You Know You've Created the Company of Your Dreams

2. Get your messaging crystal clear.

The reason many don’t make money with a lifestyle business is because visitors don’t understand the tangible benefit of what is offered in the business. There’s a whole movement that talks about the “need to niche.” The problem is that the niching has gone too far. When someone can’t understand what they will get when they spend money with you, they won’t spend money with you. When someone visits your website, make it crystal clear how and in what way you can help them. You have about 7 to 37 seconds to make that first impression. Don’t niche so much that people think there’s no tangible benefit in what you offer.

Related: What a Sharing Economy Startup Does to Build Trust in Its Community

3. Stop letting information overload win. 

There’s a lot of information out there and it overwhelms many. You don’t know what you should do or who’s advice you should listen to. Everyone seems to have the new and must use strategy. You see six-figure monthly income reports and you’re tempted to follow that person’s advice. To build a successful lifestyle business, you need a strong filter for the advice you follow. You need to learn from those who are just ahead of you. There is wisdom in the knowledge from the A-Listers, but realize you will have to pay to play on that level. Follow the advice that will help you next steps and ignore the rest until it’s time.

Related: The Cocktail You Shouldn't Mix: Networking and Booze

4. Focus on building your audience.

This is perhaps the one struggle that gets most people. It’s easy to focus on the busy work and all the things that seem important, but it means nothing if you don’t have an audience. You need a group of people who follow and support what you do. Social media, podcast interviews, guest posting, and writing for large media publications are just a few ways you can build a strong and loyal following. Most of your efforts should be focused on building an audience if your following isn’t where it needs to be. The audience is what leads to income.

5. Don’t be afraid to sell.

After you’ve built an audience, you have to sell a few things. The selling part of a lifestyle business is what turns a lot of people off and is hard for the rest of us. Instead of thinking of this as you selling, think of this as you offering something of value for a price. You are offering a product or service that can help people and you are charging a fair price for what you offer. If you approach this from a place of value, you should feel weird about selling.

Building a successful lifestyle business can be your reality if you approach this differently. Get clear about who you want to help and what you want to help people do. Always add value and never take advantage of people. You will stand out and people will do business with you. This dream can be your reality with hard work and patience.

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