There is a clear distinction between an Internet Technology Entrepreneur and a Lifestyle Entrepreneur. While the goal of an Internet Technology Entrepreneur is to innovate by disrupting or changing an industry, the goal of the Lifestyle Entrepreneur is to maximize profitability while minimizing hours worked. I have a unique position in that I’ve experienced both in the past 3 and a half years living here in Silicon Valley: while neither is better than the other, I believe that a business-minded entrepreneur clearly has a better chance to succeed in one over the other.
3 and a half years ago, my team and I moved to Silicon Valley with the goal of building a game-changing company, a company that would disrupt an industry and become as big as Facebook one day. We built RewardMe, a digital loyalty platform for restaurants and retailers and raised $1,000,000 from Angel investors.
We built a product, had paying customers, and acquired users, but after two and a half years, the company ran out of cash. In June 2012, I decided to leave RewardMe to pursue lifestyle design. Inspired by Tim Ferris, my goal was to achieve $10,000 per month while working less than 10 hours per week.
I achieved my goal earlier this year.
I learned that lifestyle design is not about traveling or learning new languages, it’s about positioning yourself to do what you really love to do. For me, it was the ability to pursue projects without the worry of my financial situation. This 10-part guide is the first step to understanding how you too can build a profitable and sustainable lifestyle business.