Lifestyle entrepreneurs are a new breed of business owners that are a mix of solopreneurs and fully leveraged business owners that have reprioritized our lives, and have created new rules on how we interact with our businesses.
How can you spot a lifestyle entrepreneur?
- We design businesses around our life, not the other way around.
- We are not interested in making billions, but are not shutting ourselves from the abundance and flow that exists.
- We are most likely a socially conscious entrepreneur with a clearly defined reason why we exist, who we serve and what we stand for.
- We engage in businesses that inspire us and add value to the marketplace.
- We care most about flexibility and we work hard when we need to.
- We usually place a high value towards family and community/social service.
- Unlike philanthropists, we only choose businesses that make a difference AND make a profit.
- We are more likely to use technology and systems than people to create leverage in our business. If we have people on our team, the staff/leadership teams are generally smaller in number than typical companies of equivalent revenue size.
- We are more likely to hire independent consultants than employees.
- We are likely to have virtual businesses.
- We are generally more generous with sharing in the financial success with our teams.
- We are likely to have a strong culture and shared vision that everyone on the team understands and stands behind.
- We are more creative, able to change quickly as the circumstances change in the marketplace.
- We are less attached to the business, and more committed to the business vision being fulfilled.
If you consider yourself a lifestyle entrepreneur, shout out what you do and what you find to be most rewarding about this innovative way to be in business.
Those committed to "lifestyle design" surely understand that the journey is not well documented. Most of us know the: "go to school", "get a degree", "get a job", "get married", "get a house", "retire", and then "live life" journey. Who are our examples of those ordinary folks (not the gurus) who have designed their lives, careers and families around a value-centric life design model? Well, I do not profess to be a guru, but I do admit to being someone who is willing to stay the course on this (for me) uncharted path. I share this journey with others as part of my own completion process, trusting that it will make a difference for someone besides little ole me. Here goes:
I have been reflecting a lot about my last 13 years of life in terms of Seasons.
v 1999 was winter
v Early 2000 was spring (I knew I was leaving Corp America at the end of 1999 and was preparing for a new future)
In the Eyes Wide Shut article, I described the games people play with their finances. The purpose was to make people aware of the financial path we are all on and to help readers determine what path they want to be on. I highlighted the difference between a default financial future and an intended financial future. This article is for readers who want to commit to an intended financial future and are ready to take the next step.
I want to pause here for an important aside: I had intended to explain the rules and tactics used to master the financial “games” of Wealth, Financial Freedom, and Retirement (which I’ll collectively refer to here as "Wealth"). But I realized that the first play in the playbook isn’t learning the strategies—it’s how to shape a winner's mindset. That includes understanding the rules, acquiring the right knowledge, forming the right wealth team, and committing to the practice. So this article will cover that first play.
Understanding the Rules
Rule #1: There are four wealth strategies:Continue Reading
Everyone has a financial future. We are either consciously creating that future or unconsciously accepting a default financial future. An intended future, one that meets our needs and wants, requires a plan. Here’s a sports analogy: Think of your financial goals as playing a game. We need to understand the rules of whatever game we are playing and to have a conscious plan to achieve the outcomes we desire. Otherwise we are merely hopeful about our financial future.
This article will explain not only how to recognize the financial path you are on and what game you are playing, it will give you strategies to optimize your chances of reaching a desired financial future.
I call this the default game. It’s one that people play unconsciously, because we haven’t chosen any other future. Many people play this game because they’re afraid of the risks of playing and losing any other financial game. This game, however, actually carries the greatest risk.Continue Reading
On April 1, 2000, I was on a flight to Maui, Hawaii. It was my first trip to Hawaii and my first official day of freedom. My life experiences have since been classified as pre-Hawaii or post-Hawaii. I've often described April 1, 2000 as the fateful day where I chose the "red pill." I've since considered on a number of more painful occasions if I should have chosen the "blue pill," but settle always back on being grateful for the journey "down the rabbit hole." For those who have not seen the movie, "the Matrix," from which I am referencing I say only – where have you been!
Hawaii was symbolic choice for me. In high school, my mother's partner of 11 years died of cancer within 6 months of the diagnosis. He was a retired foreman from a manufacturing company after 30 years or so of service, and had saved up about $100k in the bank. His biggest dream was to go to Hawaii someday. He clearly had the funds to take the trip, and having been retired for several years prior to his death, also had the time to go. He spent every dime on medical bills "surviving" the last 6 months of his life. As a 16 year old kid, I was enlightened early to the very real understanding that tomorrow isn't promised, and someday might not ever come if you wait too long. Continue Reading
My name is Mayumi Young. My amazing husband is Clinton Young. We live in San Diego, have been married for just over a year, and are ready to start a family. We've been practicing being parents with our crazy cat, Ripley. She's 11 and if she is evidence of my parenting skills, I have a lot to be worried about. So far, we've remembered to feed her everyday, and she is still alive. So, I think we've done our parental duties.
I'm 37 and my husband is 33 (yes, Demi isn't the only smart girl on the planet.) I am the typical corporate ladder climber turned entrepreneur. I became a CPA because I got an "A" in my Accounting 101 class in college. I found out how much accountants were paid out of college, compared that to my Syracuse University student loan balance, and basically said "I'm in!" Not that $32,000 a year (before Uncle Sam) took their share was anything to get excited about. For me, getting hired by Price Waterhouse (one of the Big Six accounting firms at the time) was a big deal, especially coming from a small town in Massachusetts, raised by a single mom who had an 8th grade education. Of course, I was going to go to college and get a job. My mother sacrificed everything for me, my education and my future, and I wasn't about to let her down. Continue Reading
Welcome to our Club Freedom blog site!
This blog is intended to bring together a community of like-minded people who are committed to a life of FREEDOM! Better said, this community is primarily intended for those who have recently quit their jobs and never want to go back to corporate america, for those who have been entrepreneurs or investors for so long that we are categorically unemployable, and for those who may love their job, but are committed to living an "invented life" – free from so many of life's constraints. This is a place to share thoughts, resources, experiences, insights, and lessons for anyone who has chosen to venture onto a path in life that is a pure invention of one's own imagination, vision, commitments, and values. Since my husband and I have been working in the world of finances for so long, the conversation will start with financial freedom, and can expand to freedom in all aspects of life.
Why listen to what we have to say? You don't have to. This is for us as much as it is for any one else. Collectively we have 14 years of experience as entrepreneurs and investors, and we just wanted a place to journal our journey. I could just kick myself for not starting this sooner. Our personal values include: lifestyle, family, legacy building, and love. We have found the process of integrating the entrepreneurial visions and personal values to be the most challenging part of the process. It is easier to create business opportunities that are profitable, but don't align with what you value most in life. It is also easier to create projects that are purposeful and make your heart sing, but don't pay the mortgage. Integrating the two is what we call a values-based approach to designing a life worth living. Continue Reading