Are you someone who craves the freedom to live life on your terms while still earning a living? Do you long for the autonomy to design your work and personal schedule? If so, the path of a lifestyle entrepreneur might be the perfect fit for you.
But what is a lifestyle entrepreneur? Is it hard to become one? What are the drawbacks? Here’s a short article to help you understand what it is and what you need to consider before becoming one.
What Is A Lifestyle Entrepreneur?
Lifestyle entrepreneurs, also known as digital nomads, are individuals who craft their businesses with the aim of reshaping their lifestyles. For these individuals, financial gain is not the primary goal. Instead, they seek to savor life’s offerings while generating income on the side. They have the freedom to work from any location and at any time, requiring only a computer and a reliable internet connection to kickstart their business.
Why Choose To Be One?
Embarking on the journey of a lifestyle entrepreneur comes with a multitude of advantages, some of which include:
- Complete control
You are the master of your business, shaping it to align with your skills, passions, and strengths. This control extends to your life, allowing you the freedom to pursue your interests. - Higher-income
As a lifestyle entrepreneur, you have the power to determine your earnings. Your income is directly proportional to the time and effort you invest in your business. - Freedom
For many, this is the top benefit of being a lifestyle entrepreneur. They can work wherever they want, whenever they want, and even opt not to work when they do not feel like it.
What Are The Cons?
However, it’s important to note that the lifestyle entrepreneur path also has its share of challenges. Some of these include:
- Unpredictable
Working as a lifestyle entrepreneur can be erratic because you must stay on top of your business while still being on the go. If you are in one part of the world and something happens to your business, you need to respond to it no matter what time it is in your current location. - A lot of paperwork
Since you control everything, you will be responsible for the paperwork associated with your business. You will need to spend a lot of time filing permits, invoices, and taxes and ensuring that they can be renewed or filed on time. - Irregular pay
Pay is also irregular when you work as a lifestyle entrepreneur since you only work when you want. - More responsibility
As a lifestyle entrepreneur, your career’s success or failure will be up to you. If you don’t like risks, this can be very overwhelming.
The allure of being a lifestyle entrepreneur is undeniable, especially if you are only sometimes happy with the idea of being stuck in an office. However, before you jump into this career, it is best to review your current business situation and see what issues you may face once you jump into this career. You should also ask yourself if you can handle its challenges while on the go. Once everything is good, you are ready to go!
Do you know that lifestyle entrepreneurs are also successful freelancers? Join me as I show you my journey of becoming one here.
