My concern with bringing someone with a start-up mentality into this lifestyle business (thanks mmastrac!) is that he'd be less risk-averse, and the firm would burn through its accumulated capital as so many startups burn through their investors' capital.

Sounds like an amazing opportunity for the right candidate though.

At a point where you stop growing and start making lifestyle income for the founders, I think the appropriate term for this is "a lifestyle business". [1]

[1] http://en.wikipedia.org/wiki/Lifestyle_business