What is a Lifestyle Business?

LBSSummit_IvanMisner_FBWhat defines happiness and success? Everyone has a different answer, but I can tell you one thing that most would agree on: money does not solely define success and certainly cannot buy happiness.

I recently had the opportunity to speak at the LifeStyle Business Summit, hosted by Michelle Villalobos. In telling her own story, Michelle said she was climbing the ladder like we all do, but when she examined her life, she in fact wasn’t happy–and so she left to find her own path to fulfillment. She started her own business, making upwards of $300,000 a year–which society tells us should make a us happy–but that as time went on, she had actually become what she disliked most in people and became the boss she herself had always feared. She never gave herself any breaks or time off, and sacrificed her own happiness and health for a corporate lifestyle.

Two years went by and then Michelle realized she had to make a change in order to find true happiness. She wanted to run a business that revolved around her life and contributed something positive to the world–and she did, by changing her perspective, her business model and her definition of success. Michelle calls her new business model a “lifestyle business,” a term which I found fascinating as it resonated with some many of the concepts I talk and write a.

In a lifestyle business model, you have to determine which things are satisfiers and which are dissatisfiers. Keep in mind that while money can be a quick satisfier, it often doesn’t lead to long-term happiness. Long-term satisfiers can be things like opportunity, recognition and working in your flame (finding you passion.) I’m a real believer in following your passion and finding things that are new and innovative within that passion to keep the flame burning. Dissatisfiers include things like working in your wax (not doing what makes you happy), climbing the ladder and yes–even money.

A great example of this theory is a school teacher. A man or woman doesn’t become a teacher to make money, but to make a significant change in the world around them. I’ve known Wall Street executives who made millions, but admitted that their life was hollow.

I strongly encourage you to join me at the virtual Lifestyle Business Summit on August 11. Register here to not only hear me, but several other top business and lifestyle experts talk about finding what truly makes you happy in your professional life.

 

 

 

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