Re:No office, no boss, no boundaries – rise of the nomadic rich
by bdcravens on Monday January 07, 2013 @01:42PM
(#5022426)
I tend to agree, but I was latching on to the commonly accepted definition, as Wikipedia defines it:
"A lifestyle business is a business that is set up and run by its founders primarily with the aim of sustaining a particular level of income and no more; or to provide a foundation from which to enjoy a particular lifestyle."
Re:No office, no boss, no boundaries – rise of the nomadic rich
by white_devil on Monday January 07, 2013 @03:17PM
(#5022971)
> A lifestyle business is one that you build to improve peoples' lifestyles (including your own) rather than to make billions.
Nope, you're mostly just concerned with your own lifestyle. That's fine, of course. But there's no need to try and make it sound any more noble than it actually is.
Re:No office, no boss, no boundaries – rise of the nomadic rich
by Mz on Monday January 07, 2013 @12:37PM
(#5022082)
I agree with you and wrote about it more than a year ago:
http://www.novemberwest.com/blog/2011/07/02/lifestyle-busine...
The short version: "I Love Lucy" was a lifestyle business dreamed up so that Lucille Ball and her husband could have children. It was easier to revolutionize an industry than have a two career couple and family, so they did. In terms of technical innovation, the show was the "Star Wars" of its day, which is part of why reruns of it still get played to death to this day.
A lifestyle business is one that you build to improve peoples' lifestyles (including your own) rather than to make billions. You can give one a 70-hour-per-week effort, or you can automate yourself out of necessity and get passive income.
You don't have to burn lots of hours and take degenerate risks to be passionate about something. I see Valve and Github as lifestyle businesses (proving the culture, not making the global rich list, is part of the goal) but I'm sure the leadership is quite passionate.