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Stop the Hustle: How to Build a Lifestyle Business for True Freedom & Fulfillment
Originally published on May 9, 2025
Stop Chasing Numbers, Start Designing Your Dream Life
The allure of a 7-figure revenue business is strong. We’re often told that hitting that milestone signifies ultimate success. But what if that chase leaves you stressed, burnt out, and disconnected from the very reasons you started your business in the first place? The truth is, just growing your business and revenue isn’t going to lead to a satisfying life or guarantee profits. Chasing everything can lead to stress and burnout if you aren’t clear on what you want.
Instead of blindly aiming for a specific revenue number, we need to shift our focus inward. We need to get clear on what kind of life we want and how our business can support that life. This isn't a one-time thought; we need to revisit at least annually what work-life balance looks like for us because it will shape our daily decisions and the direction we take with our business.
Think about it: Our business is pointless if it is not helping us reach our goals and fulfill our dreams. Unless you take the time to understand your deepest aspirations, you can’t know if your business is helping you get there. True business success isn't just about the figures in your bank account; it's about creating a life you genuinely love. This is the core of a lifestyle business.
The Revenue Trap: When More Isn't Actually More
Many entrepreneurs start their businesses dreaming of more freedom and control. Usually, when we start our business, we have a dream about having more time with our families and less stress as we take control over what we are doing. However, the relentless pursuit of revenue can quickly turn that dream into a nightmare. What usually happens is that the business becomes this monster that we are constantly feeding. We end up working longer hours, facing more pressure, and sometimes even having less personal satisfaction despite increased income. This is a common form of entrepreneurial burnout.
It's vital to realize that just having increased revenue does not translate into more money in your pockets because, as you grow your business, you will grow your expenses as well. Higher revenue doesn't automatically equal a better life. In fact, you might find higher profits and less stress if you remain a six-figure solopreneur rather than running a multi-million-dollar company with several employees that demands constant attention. This is a key reason why many are choosing to build a lifestyle business.
Defining Your Real Business Success
Periodically, we need to stop and reassess the direction we are headed and refocus. Ask yourself: What is it that we hope to achieve with our business beyond adding more zeros to our revenue? What kind of impact do we want to make? How do we want to feel on a daily basis?
I work with clients to consider what success looks like for them and work through exercises to help them translate that into goals for their business so that their business supports the life they desire. It's about aligning your business with your values and aspirations, ensuring it's a vehicle for a life you truly love.
The key to a truly successful and fulfilling entrepreneurial journey is to define what personal success looks like for you, then plan your revenue targets to meet that vision. Get clear on what’s really important to you so that you can design the life that you want to live and feel the most fulfillment and success. This is the true definition of an entrepreneurial freedom business.
Simple Exercises to Discover Your Personal Vision of Success
Here are some straightforward exercises to help you clarify what true success means to you and how your business can support that vision:
1. Dream Big with Your BHAG
What it is: Set a Big Hairy Audacious Goal (BHAG) – a very ambitious and long-term goal for your business that excites and maybe even scares you a little.
Reference: [Inspired by Jim Collins and Jerry Porras in Built to Last.]
Benefit to Business Success: This long-term vision, beyond just revenue, unites your efforts and guides your strategy towards a truly significant and impactful future for your business, one that ideally aligns with your personal ambitions which brings the most fulfillment (think self-actualization from Maslow’s hierarchy of needs).
2. Know Your "Why" with a Clear and Definite Purpose
What it is: Define exactly what you want to achieve with your business, write it down clearly, and review it daily.
Reference: Napoleon Hill insists in Think and Grow Rich. that we need to write out our personal BHAGs in very clear and specific terms in order to revolve our thoughts and actions around our goals. Bruce Lee famously achieved his purpose.
Benefit to Business Success: A clear purpose provides unwavering focus, ensuring your daily actions and business decisions directly contribute to your core objectives and keep you motivated when times are tough.
3. Envision Your Ideal Business and Life with Be-Do-Have
What it is: Think about the kind of person you want to be, what you want to do, and what you want to have.
Reference: An ancient practice popularized by Stephen Covey and Tony Robbins.
Benefit to Business Success: This helps you build a business that supports who you want to be as a person and how you want to spend your time. It also forces you to focus on how to plan for revenue that will allow you to do and have the things you find fulfilling, without getting into the trap of simply ‘more’.
4. Reflect on Your Legacy by Writing Your Obituary
What it is: Imagine what you want people to say about you and your business at the end of your life. To make this even more impactful, calculate the time you have left to live out your goals.
Reference: People have been using this reflection exercise for years to reflect on the kind of life they want to live.
Benefit to Business Success: This helps you prioritize the long-term impact of your business, your values, and how you treat people, leading to a more ethical, sustainable, and reputable business that you can be truly proud of.
5. Build on Your Foundation with Core Values
What it is: Identify your most important personal principles and integrate them into your business.
Reference: Based on the work of Martin Seligman and the VIA Character Strengths survey.
Benefit to Business Success: Strong core values create a positive business culture, attract the right people, and make your work more meaningful and resilient, guiding decisions beyond just profit.
6. Focus on Growth, Not Just Goals, with Identity
What it is: Concentrate on the kind of person and business you want to be rather than just the revenue targets you want to hit.
Reference: James Clear writes in Atomic Habits (Amazon affiliate link) that assuming identity is the most likely avenue to achieving your goals. For example thinking, “I am a healthy person”, makes you more likely to make decisions reinforcing the idea that you are healthy
Benefit to Business Success: By focusing on the kind of person and business you want to be, you take actions that help you develop even more into that identity.
7. Picture Your Success with Pat Flynn's Airport Test
What it is: Imagine running into a friend in the future and describing how "awesome" your life and business are across key areas like well-being, relationships, finances and professional life.
Reference: Pat Flynn describes this exercise in his book Will It Fly? (Amazon affiliate link) about ways to test out business ideas.
Benefit to Business Success: This holistic vision ensures your business supports a well-rounded and fulfilling life, preventing you from sacrificing personal well-being for the sake of revenue alone.
8. Budget for Your Ideal Life
What it is: Calculate the actual cost of your desired lifestyle to understand your real income needs from your business.
Reference: Tim Ferriss suggests in The 4-Hour Workweek to break down how much these dreams will cost you and then plan for revenue to meet those goals. You will likely find the amount isn’t as high as you think. Dr. Laurie Santos of the Happiness Lab reports on studies that show money doesn’t make us as happy as we think it will - try her free course or listen to her podcast !
Benefit to Business Success: This helps you set realistic and purposeful financial goals tied to your actual life aspirations, potentially reducing the pressure to chase an arbitrary revenue figure and allowing you to focus on what truly brings you happiness.
Taking Action Towards Your True Business Success
It's time to move beyond the singular focus on revenue and start designing a business that fuels a life you genuinely love.
Identify Your First Step: Based on the exercises above, what's one small action you can take today to gain more clarity on your personal vision of success?
Embrace the Journey: Building a business that supports your ideal life is an ongoing process. Regularly revisit your vision and make adjustments as needed.
Focus on Fulfillment: True business success isn't just about the numbers; it's about the joy, impact, and freedom your business provides.
Ready to stop chasing numbers and start creating a life you love?
Book your clarity call today if you want help crafting your personal vision of success and developing a business plan that aligns with the life you truly desire. Stop chasing a meaningless number and start building a lifestyle business that works for you.
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Updated on
May 29, 2024
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