Why Type of Business do You Want?

“There’s no shortage of remarkable ideas, what’s missing is the will to execute them.”

Seth Godin

Do you want a lifestyle business or a high growth business?

As you’re starting out, it’s important to decide whether you want to build a lifestyle business or a high growth business. 

A lifestyle business takes care of the founder’s lifestyle – pays the bills and affords the owner a good life. While some lifestyle business can grow very big, many lifestyle business owners do not want to look after a massive business and have people or Investors to answer to.

A high growth business aims to grow very big in terms of impact, reach, number of customers, number of employees, or amount of revenue. This type of business might take on Investors to help it grow bigger.

Take Action

Consider the two types of businesses that you can build, and identify the one that aligns with your preferred professional path. 

Now write out an action statement to declare your intent:

I am going to build a [lifestyle/high growth] business to ensure that ________!