What’s a “Lifestyle Business”?

Many entrepreneurs, including (especially?) those over 40, start their own businesses because of a desired change in lifestyle.  Maybe they want to be their own boss.  Or to have more flexibility in their schedule.  Or to free themselves from a daily commute that can take hours and leave them frazzled.  Everybody has their own reasons.

Likewise, the term “lifestyle business” doesn’t have a one-size-fits-all definition, as Barbara Taylor points out in a NYTimes.com post from earlier this week.   While “lifestyle business” may be a vague term,  Taylor says she senses three “distinct flavors”:  The Underachiever, The Hedonist and The Free Spirit.  “It is only when the owner strives to reach a new level with the business — whether this involves growth, exit or both — that the label goes from being a given to being an issue,” she writes.  Here’s the post for those who would like to read it.

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About Lynne Strang

I'm a writer who blogs about 40-and-older business owners. I am also the author of "Late-Blooming Entrepreneurs: Eight Principles for Starting a Business After Age 40." Outside of work, I enjoy reading, cooking, vegetable gardening and exercise (especially cycling).
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