Contributed by Pia De Los Reyes
Pia is a writer and content marketer with an M.A. in Communication. She specializes in topics in the business, personal finance, career, and insurance spaces, and enjoys informing and inspiring others through the power of search. In her free time, she can be found at the beach or cooking a new recipe. Feel free to connect with her on LinkedIn.
The current job landscape is changing quickly and the appeal of a typical 9 to 5 workday is fading fast. Now, a full extinction of the corporate 9-5 may not be in the cards, but entrepreneurship is certainly on the rise. If you’ve been thinking about pulling away from your corporate job, you’re not alone.
Many people with other skills and hobbies have chosen to turn their passion into their jobs and so can you. A lifestyle business is a business built on an individual’s passions in life. You can turn almost anything into a lifestyle business, whether it’s doing social media for clients or blogging about your daily life.
If you’ve been considering a change and want to pivot your career away from corporate monotony, bet on yourself and build a lifestyle business to be your own boss today. To help you get started, we explain the recent rise in entrepreneurship, what a lifestyle business is, offer you some business ideas, and even detail tools to help you build from the ground up.
Table of Contents
The Great Resignation and the Rise in Entrepreneurship
What is a Lifestyle Business?
- Create a Blog
- Freelance Your Services
- Become a Virtual Assistant
- Sell Printables or Templates Online
- Open an Online Handmade Goods Store
- Try Podcasting
- Become an Influencer or Creator
- Social Media Marketing
The Great Resignation and the Rise in Entrepreneurship
The transition from the corporate world to going it on your own in business has become more and more common since the pandemic hit. This outflow of talent from the corporate landscape has even been dubbed The Great Resignation.
According to this study, people are not only saying “I want to be my own boss” but also actively making it happen. The U.S. Labor Department reported that 4 million people handed in their letters of resignation in April alone. Many were pivoting to a different career path at 30 or simply looking for something new without too much risk. One of the reasons behind this switch was to start their own business. Another survey found that 32% of Americans actually succeeded.
Join these 32% of Americans and consider whether a lifestyle business is the next step toward advancing your career and changing your life.
What is a Lifestyle Business?
A lifestyle business revolves around a passion-focused company that allows you to earn an income on your own terms. These businesses are usually built on a skill or creative talent that you’re good at or that you enjoy doing.
Those hobbies that you may just be doing for fun can actually turn into your income, and if you already have a side hustle, it could very well turn into your main hustle. This type of business typically is done via the internet, whether that is blogging, providing a virtual service, or selling digital goods. You may be thinking, is it vital to have the best internet in my area for this career? Well, yes it is – you’ll want to have a strong connection to work as efficiently as possible.
Find your target audience so that you can offer the best products and services for them. Another way to get your lifestyle business off the ground is by networking. Networking can easily be done online through LinkedIn or you can reach out to your network and market your business in person.
Even finding business owners with similar products can help you build your brand. One of the many perks is getting you out from behind that cubicle and allowing you to work from anywhere at any time.
There are three categories that most lifestyle businesses fall under information marketing, service-based businesses, and e-commerce.
I like to call this the “make money in your sleep” category. For a business to fall in this area the founder is passionate or well-versed on a topic and has the desire to teach others what they know about that topic. This topic could range from anything such as how to build a strong Power Point to the best tips for marketing your pets. Since this typical includes digital-based business products may be presented through:
- Online course
- Live Coaching
Those that have skills that are in high demand and that can be executed remotely, this is where that business will fall. Skills that can be purchased for service include:
- Graphic Design
- Proofreading and editing
- Social media management
- Freelance writing
- Web design
- Digital Marketing
If you are looking into selling a physical product, e-commerce is the category your lifestyle business would identify with. The best way to sell your products is by creating a store on a third-party online shopping platform such as Etsy or Shopify.
Having to set up your own shop from scratch can be tedious and time-consuming, and these platforms make it easier to launch and manage your online store.
If you’re asking yourself what kind of business or service is best for you, check out these options to see if you find a match.
Lifestyle Business Ideas
1. Create a Blog
If you know that writing is your passion or just something you enjoy, try creating a blog. Creating a blog is the simple part, writing content and building a substantial platform is what takes time and dedication. Once you have established an audience over time, there are numerous ways that you can monetize your content like through ads or sponsored posts.
2. Freelance Your Services
One of the first things to do when offering your services is to create a profile online. Social media is a key marketing tool. Establish your services and show how they appeal to your audience. Customers want to hire a professional, whether that’s in writing or graphic design.
Use that profile to show off your work. Show that you are well-versed in the services you are offering. When it comes to freelancing, offer a service that is in high demand. If that market seems to be saturated it can be challenging because of competition, but it is also a good thing because it tells you that customers are constantly seeking that service.
3. Become a Virtual Assistant
With the rise in remote jobs and businesses moving online, virtual assistants are in high demand. People who require administrative assistance are realizing they don’t need someone right next to them to get those tasks done, they can be completely remote and still get the job done.
Being a virtual assistant often involves a lot of administrative tasks, like scheduling appointments, making calls, and organizing emails. Tasks may vary depending on the client’s wants and needs, but a good virtual assistant will be reliable, organized, communicative, and efficient.
4. Sell Printables or Templates Online
Printables are digital downloads that can be sold online that include planners, journals stickers, and art prints. Printables do well online because people love customizing and personalizing their own goods, and this is one of the ways to get that done.
Creating a printable can be really simple, all you need is a design tool and a site to house your products. Printables can be made with Canva, Google docs, and other graphic design tools. Once you’ve created them, sell them from a platform like Amazon or Etsy.
5. Open an Online Handmade Goods Store
Who doesn’t love a good handmade item? If crafts and handmade goods are your thing, opening an online store could be for you. Some hobbies that can become a business if you sell your work are knitting, pottery, candlemaking, and painting. By selling handmade goods, you make a living off of sharing unique, personal, and creative items with the world.
6. Try Podcasting
There are many reasons to start a podcast. Maybe you’re passionate about a certain topic or you’re looking for a space to interview people that you are very fond of.
In many instances, you may hear the term having a personal brand. What’s your brand? Having a podcast can help you build this and open up more opportunities for yourself. When it comes to monetizing your podcast, it comes with consistency.
7. Become an Influencer or Creator
Sure this may seem easier said than done, but it’s certainly not impossible. We are living in the era of the creator, where you can make a career online by creating content that attracts certain audiences.
Especially with the rise of Tik Tok, it has been made apparent that people like to indulge in other everyday activities such as “Get ready with me” or people dancing and lip syncing to popular music.
8. Social Media Marketing
Almost every business needs someone that is in charge of their social media marketing, and if that sounds like you, that may be your opportunity to get going with your lifestyle business. Knowing how to work on Facebook, Instagram, or Twitter, is just what you need to start your career in social media marketing.
What Tools Will You Need to Manage Your Lifestyle Business?
A lifestyle business is ultimately different from other businesses. With a lifestyle business, you’re able to pursue your passions and be your own boss. Getting your business going also includes low to moderate costs.
While commitment is key when it comes to any business, you’ll find that you get to benefit from the freedom and autonomy you wouldn’t have had with a corporate job. Because the nature of lifestyle businesses is that you generally work online, you can work from home or anywhere else at any time while being the sole business owner in charge.
To be your own boss you’ve got to have the tools to manage your lifestyle business. A few of those tools are Calendly, Evernote, and LegalZoom.
- Calendly is a great tool for schedule making and it is easier to keep up with any clients or customers you may have. When having your own business you must stay organized,
- Evernote is an app that will keep your notes, thoughts, and tasks in order. When having products with a certain name or phrase you want to be sure it is protected, that’s where
- LegalZoom comes in as a big help. LegalZoom brings lawyers and businesses together to be sure the correct documents are in place.
From the minimal upfront cost to the perks of creating a lifestyle you want to live, a lifestyle business is one of the most flexible options for anyone looking to break away from a traditional 9 to 5.
Whether you enjoy teaching others how to build a webpage for themselves or you’ve created an e-book that teaches the five steps on how to be happy, build a business that provides the purpose and lifestyle you want. Use the lifestyle business ideas outlined in this post to take the leap into entrepreneurship and never look back.