I guess if we're going to discuss this article again, I should get to say my piece about it again: > To lounge on a beach or travel the world and not actively engage in building your arsenal of expertise is professional malpractice. I've seen this thought expressed before in writing about Startups. If you're not burning your life down 24/7 in the struggle to make it Big, you're doing it wrong. But that's silly. The e…
- the “grow huge or go home” startup is one path, but not the only path. Looking around your own city will make it obvious that smaller profitable businesses that provide goods or services do exist in this world and are a perfectly reasonable way to make money. I, personally, am perfectly happy to be involved in a business that makes a consistent healthy profit, rather than being perpetually in the red, chasing hockey stick growth.
- putting time/money into things that will pay consistent dividends is huge leverage. In your case, you put time into your product upfront and are now reaping those dividends. You don’t say explicitly whether you built it yourself or hired someone to do it, but either way... over a decade, you either invested time or money into it to turn it into a dividend-generating machine
- in a lot of ways, the ultimate goal for a business is to turn into something that can continue to run without the owner/founder’s involvement at all. It may not get 100% there while the owner is still around, but if the business isn’t something that can eventually be sold and managed by someone else, it’s more a job than a business, and when the owner retires, the business disappears too.
For me, your model of a lifestyle business is beautiful, but it’s significantly different than the 4 Hour Work Week model of a lifestyle business. Those two end up getting lumped together and depending on which model people are thinking about when they read “lifestyle business”, they have significantly different reactions. My own reactions:
- “I spent 10 years building a SaaS product that makes me enough money to go rock climbing all the time”: AWESOME! Nicely done! That is fantastic!
- “I spent a few months tracking down suppliers on AliExpress that can dropship cheap sunglasses. This makes enough money to go rock climbing all the time”: Urgh... well... hopefully that works out well for you long term I guess.