"lifestyle business" is sometimes used as a derogatory term to describe setting up a corporation for a hobby that is not really meant to be profitable.
That's not the original meaning of a "lifestyle business" anyways, which is more like a business that makes enough (to its owners, nothing to do with the employees) for them to maintain their desired lifestyle, like maybe a few million in revenue or whatever, but can't / won't be scaled beyond that because their lifestyle is already well supported by the current business growth / volume / revenue so they have no interest on blitzscaling, taking VC money, and running the perpetual growth treadmill or because the business is already topped-up and won't support further scaling (its not always a choice)
"lifestyle business" is sometimes used as a derogatory term to describe setting up a corporation for a hobby that is not really meant to be profitable.
A business that lets employees have a healthy work-life balance.
Thanks, it’s a bit concerning that’s not considered the default
That's not the original meaning of a "lifestyle business" anyways, which is more like a business that makes enough (to its owners, nothing to do with the employees) for them to maintain their desired lifestyle, like maybe a few million in revenue or whatever, but can't / won't be scaled beyond that because their lifestyle is already well supported by the current business growth / volume / revenue so they have no interest on blitzscaling, taking VC money, and running the perpetual growth treadmill or because the business is already topped-up and won't support further scaling (its not always a choice)
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I guess if you have nothing else to live for except your job, you'd be really psyched to keep dumping more hours into it...
Generally I think lifestyle business means a business that is going to make the owners a comfortable living but not likely to make anyone filthy-rich.
In silicon valley/tech it's sometimes treated as a derogatory term.
In finance and VC-funded -startup worshipping circles it is derogatory, because it means you aren't trying to scale like a VC-funded-startup.
That space is often confused with “tech”, and obviously overlaps with it, but its not the same thing.