Which Lifestyle Businesses are Worth Investing in during the Pandemic?
by Arina Smith Investing 11 May 2021
Many of us had numerous realizations during the crisis. For one, health is more important than physical wealth. Second, most people have jobs they truly hate. Third, one should enjoy life because it is precious and short.
Due to these reasons and after taking inspiration from others, many people started setting goals they never anticipated chasing after. Some finally made the choice to quit their nine-to-five in hopes of pursuing their lifelong passion. And that is to start their own lifestyle businesses.
What Do Lifestyle Businesses Really Are?
Having a lifestyle business is not just about starting a company that will help you grow your wealth. It is starting a business that allows you to live your life the way you want. In short, a lifestyle business is a type that supports the kind of lifestyle you want to live.
One will have a different definition of what a lifestyle business really is. One will say it is about selling the products you like. For some, it is about providing the services you have to offer.
Note that lifestyle businesses are different from a startup. Lifestyle entrepreneurs usually rely more on their savings and personal funds than small business loans. Startup business owners still work full-time jobs, while lifestyle entrepreneurs are better in charge of their time.
A lifestyle business enables you to live your life doing things you are passionate about. You are spending your precious time working on your business, put your skills to great use, and still enjoy your preferred lifestyle. Your goal is not to maximize profit, but to improve and maintain your preferred lifestyle.
Lifestyle Business Ideas to Consider:
If you are tired of your nine-to-five job and want to start living life to the fullest, you can consider starting your own lifestyle business. This will depend on the activities you love doing. Here are some lifestyle businesses you can consider.
Amazon FBA Business:
For instance, you love selling tiny souvenirs but have no intention of creating your own products. You can private label your products and take advantage of Amazon’s humongous customer base. Note that private labeling is legal provided you confirm your product’s authenticity before selling.
You can buy quality products from reliable sellers, develop your own branding and prepare the goods in your own packaging. You can experiment with different packaging materials like those clear tiny treat boxes to make the unboxing experience more special. Once you’re done creating a listing, you can now ship your products to Amazon’s fulfillment center and let the company do the rest.
If you have great writing skills and you enjoy reviewing and promoting products, then affiliate marketing is for you. This type of marketing enables you to make money by promoting the products or services of another company or individual.
In a nutshell, you can monetize your content by earning a small commission every time someone makes a successful purchase using your affiliate link.
Note that affiliate marketing creates passive income. You will need to optimize your blog or website to maximize your conversions. Sales from affiliate marketing are never quick or easy, which is why you need to learn how to validate your idea to make more people pay for the product you are promoting.
The number of Youtube vloggers continues to rise after many learned they can earn by simply posting video content. One may think the platform may already be saturated. But if you enjoy creating video content, might as well make money while you vlog.
You can’t expect aimless vlogging to garner lots of profit. You need to focus on a niche, be consistent in crafting great content and be patient. One can make money through affiliate marketing, YouTube ads, sponsored content, selling your own merchandise, or through Patreon.
Creating eBooks or Online Courses:
If you love creating specialty content, why not use this opportunity to make money by selling eBooks or creating online courses? Many people haven’t got enough time to learn new skills and knowledge that they prefer online courses and eBooks instead.
It may take time before you can finish an eBook or an online course. But once you are done, you can start selling these and start earning a profit. You can continually sell your online course or eBook and get paid for your knowledge.
There are other types of business ideas you can consider as long as they can support your preferred lifestyle. This can give you the freedom to pursue your passion, be with your loved ones, or work whenever and wherever you like. You can finally build a business you can be proud of and make better sense of how you use your time.
If you are ready to take the next step, make sure to manage your expectations, ask yourself what you wish to accomplish, and surround yourself with people who will support you.