Transcript
We live in a world that constantly pushes us to want more. Do more. Be better. Be the best.
As members of the online business space, we're faced with content on a daily basis about hustling harder, building an empire, making millions, and leaving a legacy.
But we get to decide if we even WANT to build an empire.
Or if a simple lifestyle business that revolves around our ideal, slow, free lifestyle is enough for us.
Don't build an online empire or hustle and grind all the time because it's what you think you "should" do to build a successful business or look like a success or feel financially secure. Owning a business empire and being a leader in your field is not the only definition of success and not the only way to make excellent money online.
What is an empire business and what is a lifestyle business?
Empire: a business that outlasts you. It normally has a large team of employees. A CEO. Hundreds of thousands of followers. A legacy it wants to leave on the world.
Lifestyle: a simple business that revolves around your ideal lifestyle. It's normally just you and a couple of subcontractors. You make around the 60k - 250k mark. It's never more important than your lifestyle is to you. Whereas with an empire business, the empire is often just as important to you.
I want to be clear:
There’s nothing wrong with building an empire business if that's what you want to do. There's nothing wrong with either business model.
The problem? The empire business is often the one the world wants us to opt in to. And if we don't, we usually are met with entrepreneurs telling us that it's probably because we're thinking too small about what's possible for us. And they could be right - in some people's instances, that's probably true. But not all.
I remember going for dinner with one entrepreneur who told me about a podcast she follows by someone who has made 18 million in a year from her online coaching business. We discussed money and I told her I don't want to make millions. She looked at me, shocked, and said "but if you can, why not? Wouldn't it be cool to say you've made a million?"
And maybe she's right. It IS possible so... why not?
Here's why: I know it's possible but I don't care enough about making millions to put in the work to make it a reality. And I don't want to run an empire. It doesn’t appeal to me.
And that's fine.
It doesn't mean I have limiting beliefs stopping me or that I'm thinking too small. I know I COULD do that. But I don't WANT to. And that's the difference. Maybe I will want it one day. But not today.
It's at this point that some entrepreneurs think you don't want to because you have mindsets in the way. Negative beliefs about money making you greedy or materialistic.
That's not it for me. And maybe that isn’t it for you either.
If you have those kinds of beliefs, you'd struggle to get to 50k a year, let alone millions. I'm not an advocate for people clinging to limiting money beliefs like “money is the root of all evil”. Or “having money makes you greedy.” I don't believe those things. Money can be good because money is freedom. Freedom from financial worry and freedom to do the things you enjoy and dream of. Freedom for your family and your future.
But it isn't everything. And... after reaching the financial security you need to live your dream lifestyle, it's OK if money then is no longer one of your highest values or drivers.
I think that's actually a good thing.
I think that constantly chasing after more, bigger and better when you've reached what you wanted can be a sign that we don't know how to be satisfied with what we have. That we don't know how to settle in to the enoughness we've built. That we don't know what to do with ourselves if we're not always striving to have even more.
After reaching what you deem as financial security and abundance - that would be the unique number you need per year to live your ideal lifestyle- what would happen if you could just relax into it?
What would happen if instead of always striving for more, we only did that when it felt aligned and exciting to do so?
What would it be like to reach what you deem as financial security in a gentle way? A way that involves effort, consistency and hard work but is NOT done through hustle, overwhelm and stress.
Hard work is not the same as hustle.
Working hard can be healthy and good for our self esteem and happiness.
Hustling is often when people take it too far and it becomes unhealthy.
I built a financially abundant business that enables me to live my desired lifestyle, and the years I earned the most money were the years I felt at ease in my business.
You can build a simple lifestyle business and still make an abundant amount of money.
I think one mindset mistake people do make is believing that a lifestyle business is a small business that doesn't make very much money. That just covers your bills. I think people often correlate simple business to mean a business that doesn't make much income.
But you can build a simple six figure business if that's the amount of money you need.
When I had my first six figure year, I was working 3-4 days a week and traveling and living my life.
I know from my own experience and the experience of peers who have made upwards of 500k, some making multi-millions, that your business strategies and needs start evolving around the 250-300k mark. Up until then, you can run a great, simple business with just a really good VA (or a part time employee if you want to keep the cost of hiring help down and don’t mind the responsibilities that come with employees.)
Up until that point, if you're an online service or digital product based business, you don't really need a big team or tens of thousands of followers. You don't need Facebook ads. You can keep things simple.
Don't confuse what is necessary to build a 7 figure business with what is necessary to build a six figure business.
And while on that note, it's probably not wise to learn from an empire owner about building a simple, gentle business that makes six figures or less if that's your goal. Because your values wouldn't be aligned. And the way you build a 7 figure business and the strategies and priorities you have there are not the same as building a six fig business.
So whatever income goal you set for yourself: be it 7 figures, 6 figures, or less... make sure you choose mentors to follow and invest in who share your values, who have built their businesses in the WAY you want to build yours. Because it isn't just the businesses income that determines whether it lasts for years and years, it's the WAY you run your business. If you don't enjoy the way you run it - you've learned how to run it the hustly way or a way that doesn't align with your values - you will eventually stop that business because your mental health will require you to.
How to avoid burnout as a business owner and still make an abundant income online
First, as we just discussed, you need to learn from business owners who have built their businesses in the way you want to build yours: sustainably and gently.
Second, as we discussed as well, you need to let go of any beliefs that are telling you that you can't earn as much as six figures while running a simple, gentle business and working 3-4 days a week. Like I said, if you think you need this ‘complicated’ business that involves ads and empire building and employees, you're thinking more of a million pound business and you don't need those things to make six figs. You can do it just you and a virtual assistant.
Third, you need to take care of yourself outside of your business if you want to avoid burnout and overwhelm. You will burn out so much faster if you are:
Taking your phone to bed with you each night
Waking up and going on your phone first thing in the morning
Checking emails first thing in the morning
Not having boundaries on the amount of time you spend on social media
Not taking care of your mental health
Not devoting some of your time to self care
I noticed that on the days when I spend lots of time on social media, it takes a huge hit on my productivity and makes me feel like crap. It even gives me headaches. And I start to feel burnout more easily.
Whereas when I tend to my self care, when I make time to rest and time to look after myself in my day to day life, I'm more productive and happier in my working hours.
Same goes for when I'm eating nutritional food 80% of the time and moving my body every day, going for walks, and drinking water. It's the simple things like this that we often neglect that push us closer to burnout because we're not filling our own cup so to speak before pouring into our clients, our marketing, and the other demands of our business.
Going away from how to avoid burnout as a business owner, and back to the idea of lifestyle business vs empire business...
I hope this episode has shown you that a business empire is not the only form of "successful" business you can build.
I hope it gives you the permission you don't even need to step away from building an empire business because you feel you "should" and only do so if that is what excites you.
I hope this episode has shown you that a lifestyle business is not a hobby business. It can make really good money.
If you want to learn more about how to do less and earn more so you can live more, there are three ways I can help you…
1. Join the waitlist for my upcoming group coaching program and learn how to reach $5k - $10k months working 3 days a week
2. My sales and marketing course: Simple Sales School
3. Free starter kit for booking clients consistently
