With the advancements in technology, a new breed of entrepreneurs has emerged. This breed specializes in creating businesses that operate almost exclusively on their own. They exploit the use of the internet and freelance services to run their businesses. Who is a lifestyle entrepreneur? According to the Oxford dictionary, a lifestyle entrepreneur is a business owner who prioritizes lifestyle benefits over profits. This type of entrepreneur only invests in businesses that can be fully or partially automated. Research shows that most of them invest in business ideas that revolve around their life goals. This article will be taking you through five key characteristics of lifestyle entrepreneurs.
- They hate commuting
They have an allergy to commuting back and forth to the same location five days a week. They can’t stand the traffic hassle and spending hours in the traffic. They don’t understand how people manage to commute for the rest of their lives. To them commuting should be walking from the bedroom to the home office upstairs, from home to a shopping mall down the street, or maybe from home to a gym opposite street.
- They prefer outsourcing tasks
They have great skills to handle their own work, but they prefer paying other people to do the work. In areas they have little skills; they don’t feel uncomfortable hiring people with experience. After all, what they value is their time, and finding someone to step in on their behalf is always a pleasure.
- They can’t stand the monotony of doing same work
These entrepreneurs have zero tolerance for tedious repetition of doing the same task on routine. They easily become bored doing the same thing over a period of time. Most of these entrepreneurs are diagnosed with Attention Deficit Disorder. In fact, they capitalize on this disorder to juggle different projects which result in the creation of many channels of income.
- They value freedom
They always talk about the freedom to do what they want, when they want, how they want, and with people they want. They don’t believe financial freedom can be achieved by being employed. They believe financial freedom can only be realized by creating multiple streams of passive income. Working to have channels that generate income independent of their personal resources is their desire.
- Intolerance to politics
It is the dream of any employee to navigate and raise ranks on the corporate ladder. However, these entrepreneurs have no interest in this. They don’t care about titles and career advancements.
Now that you have looked at these characteristics, you can now evaluate yourself and determine if you fall into this category. This is just a lifestyle, if you don’t possess these characteristics; you can start practicing by changing your lifestyle and becoming an entrepreneur. You can start this by doing simple things like starting a blog or registering an online freelance account.