Any Wired:
The 3 types of lifestyle entrepreneur:
Time minimalists. This method is all about taking much of the time commitments out of owning a business and earning an income. This is usually achieved through elimination, outsourcing, the 80/20 principle, simplicity and automation, or through focusing on ’set it and forget it’ products, like eBooks or drop-shipped products.
Example: Doug Price, who created ProSoundEffects.com. His PPC advertised site sells audio libraries at several hundred dollars a pop and earns over $10,000 a month with under two-hours of maintenance work each week. The business allows Doug to spend plenty of time pursuing his 2 primary passions: music and travel.
Nomadic entrepreneurs. While the nomadic lifestyle entrepreneur isn’t necessarily working less than anyone else, the nomad’s number 1 aim is freedom of location: an anywhere work style. Work should enable travel, not confine it to one weekend each year.
Example: Lea and Jonathan Woodward run an online branding and marketing business from a variety of international locations, creating an easy mix of travel and work. The business is optimized to be manageable from anywhere in the world.
Doing it for love. For this kind of lifestyle entrepreneur, business revolves around a passionate hobby: something they’d still be doing, even if it didn’t earn a cent. The goal is not to work as little as possible. For this kind of entrepreneur, work is a passion, and maintaining and operating her/his business is woven into a lifestyle, not separate from it.
Example: eBay user richietman (’Richard‘) began selling personally restored violins on eBay after a dire health issue forced him to quit his career as an attorney. What was once a passionate hobby became a (no-less passionate) $100,000 per year business.
Which one are you? Carry on reading…
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