Often, when you think of an entrepreneur, you think of someone who is passionate about building solutions, works tirelessly, and primarily measures the success of their organization in terms of money. But money is not the only reward available. Another resource is time. Lifestyle entrepreneurs want to build wealth, but not at the cost of time. Time to travel. Time to have a family. Maybe to visit European cathedrals, hang out on a beach, or take a little mountain bike ride.
Lifestyle entrepreneurs make their living online. All they need is a laptop and a secure connection to start MMO—making money online. By leveraging technology, these entrepreneurs are able to leap traditional business barriers. They understand the power of the web and build potent, efficient businesses that focus on their areas of expertise and outsource everything else.
Tim Ferriss’ 4-Hour Workweek is now considered an essential read for people who want to work to live. Ten years ago he suggested that entrepreneurs can have both financial and life freedom. Living more and working less, he calls it. But you can’t just dive in. Here are some tips:
Getting Your Feet Wet
For those looking to get started, it’s important to leverage opportunities related to your skills and passions. Don’t chase down ideas that are unrelated to what you love to do and what you are good at. Secondly, start slowly. Test a few social media ads, then immediately begin revising based on the response you get. Constantly tweak your product mix and ads, finding resources to help you find new ways to drive traffic to your site.
Every Builder Needs the Right Tools
There are easily accessible platforms available—the best offer cloud-based global logistics and supply chain tools. These platforms allow you to generate millions of dollars without the overhead of in-house production and distribution operations. Merchants can utilize drop-shipping platforms that enlist suppliers that take orders and directly ship to customers. Other services search for specialized manufacturers though product sourcing platforms.
Feel The Power…of Analytics
Entrepreneurs can generate granular data analytics to get precise information about who their consumers are and what and when they are buying. Perhaps the most attractive thing about lifestyle entrepreneurship is that, with access to this data, anyone can create a thriving business. And that business might pay huge dividends. Of time. Which you may need to recuperate. Especially if you take too many mountain bike rides like these.