We often get into business to have more of our freedom and choice; however, soon after fully getting into the business, we realize without a doubt that self-employment can be the toughest job to handle.
In this post, I will share with you some insights into the world of self-employment and how business owners can smoothly run their business according to what their lifestyle is. I will also write about the some of the most common misconceptions concerning the lifestyle business that you must ignore. Keep reading.
1. A Lifestyle Business Doesn’t Have to be an Online Business
The first misconception about lifestyle business is that it has to be an online business. This is not true. What I understand a lifestyle business to be is a business that can be run from basically everywhere. Of course, I agree that we need a laptop and a smartphone.
But, the business will operate from my location anywhere in the world, and it is not an online business. I have a business where I relocate medical equipment, everything is onsite, and we take things out of hospitals, put things in containers, and ship stock all over the world. In my other business, Crewdo Media, we help businesses create social media content, and it can be run from anywhere.
I made the choice of how my businesses should be run because, I personally like having the freedom and being able to choose where I can work from, having the freedom to take my family on holidays where and when I want to; and these are the most important factors to consider for me. So, I built and shaped my business with these in mind, and you can too.
Yes, You Can Delegate Tasks
So, if you do not run an online business, and you feel like you are a slave to your business, consider options around delegating. Basically, consider if you can delegate to other companies, contractors, or if you can employ more staff to delegate more work to them.
If you want to micromanage all your work, and basically being a control freak, you need to consider delegating your work if you are struggling with it. You need to understand that you can let go of some of the littler tasks in your business so you have more time for your personal life style.
2. Staffing is Highly Feasible and Viable
Another misconception about lifestyle business is that you can’t have staff in the business. Obviously, this is far from the truth. Contracting staff for your business will actually give you the much needed and essential time to take a break from your business. It’ll also increase your competitiveness.
If you feel you’re not in a position to get employees, you should consider the option of hiring freelancers. Upwork is a pretty good tool to use for that. Essentially, you can use the platform by putting up a description of the task that you need to get done, and available freelancers on the platform will contact you and bid for the job.
It is now left to you to take a look at their resumes and learn about the freelancers’ past working experience. Once you make your decision and hire a freelancer, Upwork does a lot of the work for you by ensuring the freelancer is actually working, and then ensuring the payment is made at the end of the project by automatically debiting you. So, this is a really fast, easy and secure way to hire employees if you feel like you can’t handle it locally. And, it is actually a method we used in the early days of our business.
3. Definitely, You Can Grow a Lifestyle Business
The third misconception surrounding the lifestyle business is that you can’t grow the business. And in some cases, this is true. If you are planning on starting a business, and you do not properly calculate how much funds to take out for your personal expenses, and how much to invest back in for the growth of your business, then you will probably hinder the profitable growth of your business.
But, if your business is fully functional, with employees and you have outsourced or delegated your business; you have software that is automating a lot of manual processes, your work is versatile enough to be handled from anywhere, then your business should be getting a large amount of profits invested back into it, to enable the proper and successful growth of the business.
So, the idea that you can’t grow a lifestyle business is definitely a misconception.
In a Nutshell
There they are; the three most common misconceptions about a lifestyle business. I really hope reading this article helped. I will be creating a load of Business for Business Owners series, particularly on how I run my own business to allow for my freedom. Also, I will release fresh articles on using content and video marketing to grow your business.
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