Right off the bat, you may want to ask, “Well, what is a lifestyle business and why would I need one immediately?”

A lifestyle business is a business that serves you just as much as you serve it. It’s big enough to support all of your needs and your family’s needs if you have one, but it’s not so big that it creates a ton of stress and risk. Don’t be fooled, though, there are some people running 7-figure lifestyle businesses and even 8-figure lifestyle businesses all by themselves.

Lifestyle businesses don’t need a lot of startup capital. You can bootstrap them and they don’t require significant overhead. Because of this, there are no investors, shareholders, or bankers to answer to (or landlords in most cases).