On my daughters 1st birthday, I started reading a copy of The 4 Hour Workweek by Tim Ferriss. It blew my mind!
I was trying hard to compete in the Orange County, California scene – move up the corporate ladder, buy a big house with a ridiculous mortgage, etc.
This book, however, gave me permission to forget about that. It showed me another way.
It introduced me to the concept of “lifestyle design” and creating a lifestyle business to pay for the kind of life I wanted to live.
I started to evaluate what I deep down really wanted. I started to think of how I could make money without being stuck at a job. I thought about what it would be like to actually live my dream lifestyle together with my family.
It all boils down to one simple concept:
Lifestyle Business: Make Money, Then Do Whatever the Heck You Wanna Do!
You need money to do what you want to do. You need to provide real value in the world to get that money. So you need to create a business.
This is a business that provides you with all of the money you want, plus all of the time you want, minus the headaches of a traditional business.
In other words, a lifestyle business.
With your own lifestyle business in place, you can ditch the system and do whatever you want.
I know. I did it.
If you don’t already know, I built up my own business, and the took off to live on the Caribbean island of Cozumel with my wife and kids for over 2 1/2 years and then spent half a year touring Europe.
Why You Want to Start a Lifestyle Business
It’s important to know why you’re setting up a lifestyle business in the first place.
You’ve got to put this mental stuff in place before you get started on actually creating your business. Don’t worry, it doesn’t take long.
This first step is really meant explore “what’s possible for you”. In other words, you’re designing your ideal life and then living it.
Why are you starting a business? To make money (obviously) but to do what? Really think about this.
This helps you decide what kind of business to create. If you want to travel, for example, creating an online-friendly business is a good route to take. And the more passive the better.
See what I’m getting at?
Knowing why helps you determine what kind of business to create.
Also, your why should be bigger than just “buying a new pair of jeans” or “sticking it to my boss”. That stuff isn’t going to keep you going in the long run.
Fight for something bigger. It’s in you. Keep asking yourself the question until you get there.
How to Figure Out What You Really Want
This is super easy but super important.
Take a notebook and a pen and write at the top of the paper, “What I really want”.
Then just start listing everything. Don’t worry about what it is. Just do it. Be sure to skip spaces because you’re going to need it.
After you’ve finished your list, go back though it and get more specific.
Chances are you may have said something like, “I want to have more money”. Great. Get specific. Put something like…“I want to make $8,000 a month passively from an online business” or something like that.
Then, go back through your list and prioritize by numbering the things you want with 1 next to the thing you most want.
Finally, go back through the list and next to each want list out why.
It should look like this: “I want (fill in the what) so that I can (fill in the reason why).
For example, “I want to make $9,000 a month passively from an online business so that I can live comfortably anywhere in the world for as long as I want”.
Just be clear on the why. Examine your motives. This is vital to actually make your dream lifestyle come true.
That’s it! There are a million variations to this but this has worked well for me.
Do the list exercise. Everything else (like making money) hinges on this.