What Is A Lifestyle Business?

You may have heard the term, but what is a lifestyle business and is it something you would want to be a part of?

In this post I'll briefly explain what it means to have a lifestyle business. I think it's something that would appeal to most people who want to escape the 9 to 5 grind, or work for themselves rather than a boss.

The Lifestyle Business

A lifestyle business that is right for you depends on what kind of lifestyle you want to lead. The general assumption is that a lifestyle business leads to time and money freedom.

You have a business generating residual and passive income (preferably from a number of sources), without it consuming all of your time. A lifestyle business is also flexible, so you can bend the hours you do have to work around your lifestyle.

In other words, it's not a rigid business that enslaves you to a location or numerous daily tasks that take up even more of your time than a job would. To get a lifestyle business established it will take time and effort, probably for very little reward in the beginning, but it's the results you are after. Once established, you truly can live a free life with no money worries or real time constraints.

It's all about really being able to live life and enjoy everything life has to offer while still generating income in the process.

Passive and Residual Income Streams Are the Key

These two types of income (which are often one and the same) are what really sets up this type of lifestyle. If you are drawing a passive income from rental properties or investments, for example, you are still making regular money while still having time on your hands. It's the same with residual income streams such as book royalties, where you are making money from selling the same product over and over again.

Setting up a number of these types of income really does lead to lifestyle freedom.

But what if you aren't invested in real estate or write books that sell?

Try This!

There are loads of things people can do to create these types of income streams. One of the very best that I know of is affiliate marketing and running a business solely online. For starters, this allows you to operate from anywhere in the world (all a part of lifestyle freedom). And it also creates the ability to establish passive and residual sources of income.

The other great advantage of online businesses like affiliate marketing, is they cost very little to get started and overheads to run them are small compared to other types of businesses.

At Wealthy Affiliate we are lucky to have access to some of the best training there is, as well as a community that loves to help each other succeed.

No matter what lifestyle you dream of living, it can all be made possible with the help of Wealthy Affiliate.