A lifestyle business is a commercial activity that you enjoy doing, in fact love doing, and make money doing it. Suppose you love to write but you don’t want to work as a content writer churning out drab (it doesn’t have to be, but somehow it ends up being) corporate or business content. You want to write fiction but it is often very difficult to get published and start making money within a couple of years. Like you there are many people who want to write well, but they don’t have the required skills and this is where you can help them and consequently create a presence for yourself. You love to dabble in fiction so why not teach people how to write fiction and how to write it well?
This is just a vague example, but you can create a successful lifestyle business out of a hobby as many people have already done it.
So how do you create a successful lifestyle business
Just like any other business you need to have a plan. What is a business? It is a value people are ready to pay for. Unless people want to pay for what you offer you cannot create a successful business whether it is generic business or lifestyle business. So when you make a plan, clearly define what you are going to offer and how it can help people in such a manner that they will eagerly pay for it.
Whenever you start a business you have to find a market for it. Don’t worry, there is always a market, it is just that sometimes it is very difficult to find it and this is the challenge. If you love pottery and you want to sell earthenware then you have to find people who are really interested in using earthenware whether as utensils or decoration.
For more information on how to create a successful lifestyle business you can go to this Forbes blog.