So what is a lifestyle business? A lifestyle business is a business which can be built around a lifestyle. Most businesses need you to build your life around them. A physical business, for example, usually has shop opening hours, customers and staff. You would need to build your lifestyle around a business like this. Although a physical business can give you leverage in terms of income with staff, customers and products or services; you still need to be there to serve people. You need to be physically present for most physical businesses to operate.
An online business is different. An online business is a lifestyle business because it can operate when when you aren’t there. Online businesses offer the ability to automate product sales and take payment online, without needing to be “in the loop” personally during office hours. this makes an online business very flexible.
Therefore, you can build pretty much any lifestyle you like around your business, and work the hours which suit you. Want to travel round the world? You can with a lifestyle business. Want to work from your yacht? You can with an online business.
How Do Lifestyle Businesses Make Money?
A lifestyle business can make money from a couple of main strategies. The business model I use is affiliate marketing. Drop shipping is another lifestyle business model too. With both these strategies, anyone can earn commissions on a sale by promoting and selling other people’s products anywhere in the world. You don’t need to personally own any of these products either. You can market almost anything you like with an online business. As long as a product or service has an affiliate partner program attached to it, you can sell it yourself for a percentage of the sale.
Amazon is one of the most popular places for people to use affiliate products. With Amazon’s partner program, anyone can join and promote products which are found on Amazon’s website.
To make money from affiliate marketing requires some work however. In order to make your business profitable, you need to sell products. This can be done in a few different ways:
- By creating content (Like this website, for example)
- You can also create videos and use them to link to products
- Using paid marketing is another strategy which affiliates use
- Building a list of subscribers – Having an email list lets you promote products through email marketing
What Are The Best Lifestyle Business Opportunities?
One of the best lifestyle business opportunities is through using the products I recommend on this website. By using SFM’s digital product suite you can earn income in multiple ways:
- Through affiliate marketing by promoting digital products – Digital products pay much more than physical products (Typically 40-50% compared to 3-10% for physical products).
- By promoting subscription based products. With subscription based products you can earn recurring commissions from previous sales.
- Using high commission affiliate programs. With high commissions you can earn large commissions on products valued up to $20,000+ This gives you more ability to earn larger amounts and scale up your business more quickly
- Using multi-tier sales – With multi-tier commissions you can earn another income stream from your referrals’ sales.
- Use a product “suite” with a built in sales team. The SFM offers an in-house sales team who close sales on your behalf. Simply refer the initial sale and you benefit from multiple up-sell opportunities of higher ticket products.
Work From Anywhere From Your Laptop
What is a lifestyle business? A lifestyle business can allow anyone to quit their job and work from anywhere. This means no more commute no angry boss and no need for employment ever again! All you need is a laptop and internet connection. This isn’t an ‘easy win’ and takes time and effort like any business.
The good news is that Founders of The SFM Stuart Ross and Jay Kubassek have created a digital business system and education platform which has taken 90% of the difficulties out of building such a business from scratch!
Their multi-million dollar platform can allow anyone to build a website and a sales funnel which is pre-populated with a range of digital products with your affiliate link already in it!
20 years ago to have your own sales system and funnel would have been a huge ask. Even building a website was something for only the tech savvy. Nowadays there’s much less stress involved in doing either. There’s still a few things you need to learn to become successful online, but that’s what the education community can help you with.
Access a FREE workshop video series by signing up on this website to learn more.
See also lifestyle business mentors.