Can You Build a Lifestyle Business Online?
In the summer of 2007 at a mastermind meeting of Internet marketers here in Colorado - I posed the question:
Is it possible to build a lifestyle business in Internet marketing?
The answer from each of the members was no. For different reasons most adhered to the Rich Schefren teaching that the LifeStyle Business was a fantasy - because even if you did manage to automate and build up a solo business - you would eventually be overtaken by competition and go out of business.
All of the people there thought that you must hire assistants, employees, programmers, and all the various outsourcing people to do a variety of tasks - and scale your business out while you bravely captained your ship across the murky waters of the red ocean.
I believe otherwise.
Just so we are clear, a lifestyle business is a business that pays you a predetermined ample amount of money, can essentially be run by one person, and does not require a full 40 hour work week - and can even allow for extended periods of time away from it - and still bring in money.
Didn't Tim Ferriss prove this in his must read "The Four Hour Work Week"…?
My favorite quote of the book is (and I'm paraphrasing because this is how I remember it - and so what if I beefed it up with the lofty word "sought"?
"We sought not to create the biggest business we could - but one that would bother us the least!"
Tim Ferris - The Four Hour Work Week
Not a day has gone by in the last several months that I haven't caught myself doing the exact opposite. Everything in the entrepreneurial business builder is stacked toward relentlessly building bigger, more, larger…
"We have met the enemy of the lifestyle business - - - and it is us.
Ziggy"
Two discoveries have illuminated my thinking on the issue and as usually happens when you seek something good with all your heart, God has a way of letting you find it!
1: Bill Myers
I've already blogged about Bill Myers on this site recently so I won't go into too much detail here, but Bill is a very versatile and talented guy who has left the limelight for the video camera light and built a brilliant business model that must pretty much afford this cool guy with a great lifestyle business.
Part of the framework of his business model is weekly tips - viral video "how-to's" that lead to a step up to a $9.95 a month membership site, loaded with great content and personal access to Bill in the members only forum. The forum is where I found the next big A-HA, just tonight.
2 - All it Takes is 1,000 True Fans
Bills weekly (not 3X a day) email tip led to a post in the forum today and a link to this brilliant article on how a band, a musician, artist, content creator, video maker (get the drift?) could make a very good living off 1000 True Fans.
I've been working on the numbers for a way to give you (dear reader) the very best of my knowldege, marketing expertise, and motivation and success resources and new creations - in an affordable way.
The idea that I could do this with a $9.95 a month membership site that was totally unique, included all my current stuff for free - and had some Live Chat and Teleseminar Call IN shows, is exactly what I've chosen to do.
I'm going to launch this site in a very unique way, by doing a workshop on how to create a profitable membership site and show you each and every detail of that process - all the numbers - all the decisions - as the ultimate case study.
I have to tell you - I haven't been this excited in a very long time, and look forward to having you join me.
If you want to have a lifestyle business making money on the Internet, live where you want, and enjoy a comfortable income - then please subscribe to this blog and get ready for some fun, excitement, and cash.
PS: I am just waiting on Mark Braunstein's new VTribes.com to retool and open up with the new features - so we can start out right with a super Web 2.0 modern state of the art membership software.
Filed under Motivation | Success by Rick
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Comments on Can You Build a Lifestyle Business Online? »
Rick
Totally looking forward to your membership site 'how to'.
Will you use Jeff Walkers Product Launch Formula 2 for this? I suspect it would be worth it since his new package is about building long term businesses, not just hyping up a launch to get a hit of cash, followed by darkness.
(Although lying on a beach in the Maldives with a lot of cash is a pretty good sort of darkness.
Jonathan
Hi Rick,
Your upcoming membership site and the way you plan to launch it sounds like a very good idea that should get you lots of publicity and plenty of paying customers.
You mentioned that you're currently waiting on the latest release of VTribes before you launch your site.
You might want to check out Carlos Garcia's new social membership site software while you're waiting.
He gives a real good description of it on the Warrior's Forum and also supplies some helpful videos detailing how you can easily modify just about everything on your membersite to suit your needs. At the present time it's a one time cost and can be used on unlimited domains.
You can check it out at:
http://www.warriorforum.com/forum/topic.asp?TOPIC_ID=215448
Hope this helps,
Tom B.
Can You Build a Lifestyle Business?…
Can one person build a successful Internet business?
Not according to Rich Schefren who said, "You can just forget creating a lifestyle business - it is just an illusion - a fantasy - it is impossible."
I disagree…
If you've read the article 10…
Rick,
Great intro… I recently heard Tim Ferris on a podcast with DuctTapeMarketing.com clarifying what he meant by "lifestyle business".
He essentially said: It is not about making money doing what you love to do but making enough money in a way that allows you the time and resources to do what you love to do.
The lifestyle is not the business, but rather, the business makes the lifestyle possible.
Sometimes, you come across a brilliant idea which allows you to make a comfortable living at something you love (which is what you have done) but, in the interim, we all need to find outsourcable vehicles (businesses) that produce income without sucking up 40+ hours a week.
Looking forward to what's next!
Deeter
Deeter's last blog post..The Secret Society of Buzz