Chasing growth at all costs can be an alluring idea for any business owner small or big, but it isn’t necessarily the best option.
When you chase growth there are going to be a number of decisions & compromises you have to make.
These might include; the hours you are going to have to work, the financing you have to put into place, the level of control you have to give up to get the financing, the pressure / expectations you have to be under to hit targets set by those financing your business.
For some people they will be happy with the tradeoff that growth gives them, they are happy to be aiming to be a unicorn at the expense of a personal life or full control of their business.
For others this tradeoff will be too much.
They want to have the freedom to join their family at the beach and be fully present and not worry about incoming emails or slack messages.
They might want to have more control of their business to make sure that they are treating their employees or customer to the highest level and sacrificing some bottom line profit in the process.
The latter, a lifestyle business can sometimes be seen as a dirty word or something to be avoided in entrepreneurial circles but if you are aware of the decisions you are making and what you are giving up it is more than ok to build your business as a lifestyle business from the outset.
Just make the decision early on and build your marketing strategy with is in mid rather than sleep walking your way into a growth business with investors and other pressures to perform that stop moving a lifestyle business an option.
Get the weekly email straight to your inbox