The goal of creating and sustaining a lifestyle business will continue to be in style this year and beyond. Optimizing time for what is most important in life is a growing cultural message. And many people in younger generations consider it to be a cultural norm. As it should be!
Maybe you already have a lifestyle business? Or do you want to switch to a different venture? Or you are imagining starting a new one from scratch? Smart legal groundwork can get your business started on a sound foundation and help to prevent headaches down the line. More on that below!
First, here is a collection of resources from 5 lifestyle business experts to help you to develop or fine-tune your new year vision:
Mastermind at “The Art of Non-Conformity”: Chris Guillebeau
Pacific Northwesterner Chris achieved his goal of visiting every country in the world by age 35 In 2013, after 11 years of traveling and blogging. Along the way in his adventurous life, he has published 6 books. The latest, 100 Side Hustles: Unexpected Ideas for Making Extra Money Without Quitting Your Day Job, came out in 2019.
And in 2017 he started the daily podcast Side Hustle School, where he tells stories about real people who started a lifestyle business either on the side or as a full time venture. Chris has been in the Life / Work / Travel business for nearly 20 years!
In this post, Chris shares How to Conduct Your Own Annual Review.
“Lucky Bitch” & “Chillpreneur”: Denise Duffield-Thomas
Australian Denise makes no secret of the fact that she’s an introvert, despite the very extroverted-sounding Lucky Bitch book series that she started in 2013. Well, there is also the more introverted-sounding Chillpreneur that she published in 2019! Denise writes very candidly about money on her blog and her “Money Bootcamp” program is “a transformational money mindset training program for women entrepreneurs.”
Get a taste of Denise’s insight from her successful ventures and of her extroverted-introvert style in this post: 7 Steps to Creating the Ultimate Lifestyle Business.
World-traveling, passion-project-promoting, whiskey-drinker: Kathryn Hunter, host of Compass Podcast
Location-independent Kathryn started traveling ten years ago and now talks with other location-independent women about “finding work and getting paid.” She started her weekly podcast in January 2019 and is going strong with real stories of real women pursuing their passions. Compass is a rich collection of episodes featuring many different types of businesses and lifestyles.
In this episode, Kathryn shares the first steps anyone can take when transitioning to a location independent life: Getting Started. What Do I Do?
“Free Range Human”: Marianne Cantwell
Australian Londoner/Angeleno/New Yorker/Free Ranger Marianne is the author of Be a Free Range Human– first published in 2013 and newly released in 2019. (BTW, the new edition features a contribution from EPW!) Long a promoter of people growing their own business to fit their personality, Marianne gave a TEDx Talk: The hidden power of not (always) fitting in.
Check out her post: The 9 dirty truths experts won’t tell you about starting your own business.
“Small Business Community Founder”: Tara McMullin
Philadelphia-native Tara has worked in the online community with small business owners for over a decade. She now hosts the weekly podcast What Works to dig into the nitty-gritty of running a business. Start listening to learn lessons from hundreds of business owners!
In this episode, Tara discusses how every business is a bit messy and how to create adjustable plans instead of overly-fixed goals: Your Business is a Mess–And That’s Okay.
Speaking of the nitty-gritty i.e., the most important practical details of running a business… let’s get to the legal stuff.
How can smart legal groundwork help you to succeed?
Oh so many ways! Here are just a few:
Do you need formalities to protect your great idea? Check out this new video from Elizabeth to learn more:
2. Partnership Agreements.
VERY important and often overlooked.
3. Contracts in general.
Clarity is key! Make things clear from the very beginning so that your great idea doesn’t turn into an unrecognizable jumble.
4. Choosing the right business formation.
And doing what it takes to meet the requirements and maintain it!
Are you ready to do the groundwork for your lifestyle business? Get started with a Quick Call to see how Elizabeth can help to set you on a sound path.