Lifestyle businesses are real businesses
Often, I hear people using the phrase "just a lifestyle business" or "still only a lifestyle business". They tend to see it as a step up to something much larger, a step that needs to be taken and overcome.
I think this is a very destructive way of talking about businesses that are most of the time extremely profitable, low-touch and high-margin. I built such a business myself, and I prefer this tenfold over all the employed jobs or VC-backed startup work I have done before.
If your service serves a dozen, hundreds or thousands of people, then you have a successful, validated, value-adding, profitable business.
And it's "not just a lifestyle business". It is a real way of putting food on the table. It's a desirable state to get to, stay in, and never leave.
Do you agree that this is an end to itself, not just the means to an end? Do you think companies need to outgrow this to be "real businesses"?
I think it’s a simple case of people feeling threatened.
See Wikipedia “talk poppy syndrome”.
Basically, they’re dismissing the success of someone else in an attempt to elevate themselves somehow.
Ignore it as much as possible. It has no real affect on your success how someone labels what you do, unless you allow it to. :)
Seriously, this!
Anything that makes money is essentially a business. How people perceive the success of a business is down to their goals in life. In the case of people deeming them "not a real business", they're either trying to belittle someone's accomplishments to make them feel better about their own, or they fall into the bucket of "successful" entrepreneurs that have different aspirations that their business must rake in millions.
I'd personally happily take a comfortable monthly passive income over answering to VCs and running a company with employees. From the perspective of my own goals, the former is more successful.
I agree completely, both with the assessment that all money-making endeavors are businesses and that the passive income route is just as successful as a VC-backed company.
The industry seems to suffer from very aggressive definitions of "success". I'd attribute that to all the "hustle porn" and TechCrunch-fueled valuation hysteria. Neither is inherently bad, but they skew desirability towards big numbers. For a bootstrapper, this is certainly not required to live a full, self-determined life.
I applaud your perspective, and I share it.
It really is in the labels. I feel that indie hacker successes that don't show explosive growth are more and more normalized as goal-worthy accomplishments.
Thanks for pointing out the tall-poppy-syndrome. The "just lifestyle" criticism doesn't just come from established, successful people, it also comes from the people who have yet to even start anything. It's used from both sides.
Absolutely, I completely agree with your perspective on the phrase "just a lifestyle business." Building a successful, profitable website that caters to the needs of dozens, hundreds, or even thousands of people is not something to be undermined or dismissed. In fact, it's a testament to your entrepreneurial skills and understanding of the market.
A website that generates value and sustains itself is not merely a means to an end; it's an end in itself. The idea that a business must constantly expand to be considered "real" is outdated. What matters most is the impact you have on your audience and the sustainability of your venture. If your website serves a niche, fulfills a need, and brings in profits, it's not just a lifestyle business—it's a thriving, legitimate enterprise.
In today's digital age, the online platform you've created is a powerful tool. It puts food on the table, provides valuable services, and creates a community. It's a desirable and enviable state to achieve, one that many entrepreneurs aspire to. So, let's celebrate the success of these ventures and recognize that their impact goes far beyond the limitations of a traditional business model. Well done on your achievements, and here's to the continued growth and success of your website.
Hi Arvid! My name is Ki, and while I don't have a raging "unicorn success" story, I have built a FI life through businesses.
I'm also a money coach. I have to say you hit it on the nose.
Making big $$ means nothing. Most people lose it all within a few years, because they have never set up habits to save or continue building.
Creating a "lifestyle business" is in my opinion the absolute best thing you can do, especially if it's one you particularly enjoy. Or if it involves work that puts you in flow state, even if the topic/theme is somewhat blah to you. You can build and tweak your business either towards something more enjoyable, or find ways to minimize your time and then develop your passions outside of work!
It seems that young makers don't realize that midlife crises are real. Add to that a general lack of purpose and the daily rituals of work/office socialization, and you are asking for disaster. I watched about 3/4 of the "life design" crowd just barely survive severe depression a few years ago. The 4 hour workweek is not good for our brains. You're begging for early onset Alzheimer's.
As you stated above:
And it's "not just a lifestyle business". It is a real way of putting food on the table. It's a desirable state to get to, stay in, and never leave.
To me, that is the best way!
Agreed! Responsibilities and requirements change so much once you expand this to a more traditional, big company.
Also, I personally couldn't imagine life without a project to devote my attention to. However, the great thing about passive-income-based lifestyle businesses is that they remove the requirement that the project you devote attention to also needs to make money (immediately). The passion outside of work may at some point turn into an income, but it doesn't need to. That is a very essential freedom that this kind of business facilitates.
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Thanks for sharing!
Focus, persistence, and good craftsmanship will go a long way. Also, the experience you gained from spending so much time and effort on a single purpose is something that no one can take away from you, and it sets you up for future endeavors as well, should you ever choose to sell that business!