In planning and designing your lifestyle, never rely on luck, it can cost you everything.
The purpose of any lifestyle business is to meet the expectations of its stakeholders
Be sure the lifestyle business you choose will strengthen your sense of autonomy, and improve your lifestyle. You should always be striving to ensure you feel you have choices.
Your lifestyle won’t improve by chance. It improves by taking action with the cards you are dealt.
Planning is something anyone in business should know about. Not only because you get to understand what is going on better, but because it will be a game changer in all aspects of your business. Trying to work everything out in your head will not maximise opportunities.
Never take your stakeholders for granted
Neglecting any stakeholder group can have serious consequences for the long-term survival of your lifestyle business.
- Define who the people and businesses are in each stakeholder group.
- Discovering what each stakeholder wants from the business.
- Establishing how you will respond to the expectations of each stakeholder. Important points:
In a normal business, your focus should always be on the customer, the people who pay the bills. But, in a lifestyle business, while this still applies, the most important stakeholders are the owners.
“Individually, people are finding that a simpler lifestyle provides greater satisfaction than the relentless pursuit of materialism”. Laurence Rockefeller
The standard stakeholder’s groups to consider
- Family and friends.
- Partnerships and alliances.
- Team members or staff.
- Sponsors and supporters.
- Community organisations.
Lifestyle businesses don’t have to be built from scratch
Sometimes a lifestyle business can be created by downsizing or refocusing your existing business. It doesn’t have to be romantic or set in an exotic location. It is just about making it do what you want it to do. It is about it meeting your wants and needs, lifestyle and aspirational goals and your dreams.
All the time I hear from people who want to start building a lifestyle business but simply don’t know where to start. It can be daunting changing an existing business into a lifestyle business. Especially if you’ve spent years building your existing business.
When you factor in family and employee’s responsibilities and keeping some semblance social life, and the thought of actually having to do even more work, it seems so ridiculous you don’t do anything about it.
Who better to help you build your new lifestyle business than the people who have already successfully done what you’re wanting to build?
So, are you ready to stop making excuses? Ready to take a little action towards a better lifestyle business? Great, start taking little actions today.
Start by setting your objectives
It is important to clearly define what your want and need from your lifestyle business. Keep it simple. Perhaps start with a one-page business plan, http://goo.gl/IrgOjw.
Your objectives could include:
- Type of work you want to do?
- The impact the objectives will have on the family?
- What income do you need and want?
- What hours do you want to work?
- People you want to work with.
- What is your ideal location?
- Will mobility be important?
- Will it help you to make a difference in your world?
- What resources do you need to acquire in order to be successful?
Why would you want to spend a considerable part of your waking hours, your life, doing something you really don’t like doing. How long do you want the business to last? Do you want to pass it on, leave a legacy?
“A person who never made a mistake never tried anything new”. Albert Einstein
How will your proposed lifestyle business help you to feel a sense of mastery and to become all that you are capable of becoming?
Team members. staff, clients, partners, and so on. should be people you want to spend time with. Avoid negative people and don’t waste time on people who can’t improve the quality of your lifestyle business?
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The good news is, it doesn’t take as much drastic action as you think it does to either start a new lifestyle business or, to change your existing business into a lifestyle business.
In fact, many of the most beneficial steps to creating a lifestyle business are probably things you either are doing or have been considering doing anyway for some time.