How to Create a Lifestyle Business ?
Have you ever watched successful entrepreneurs like Richard Branson, who is running many multi-million dollar businesses, while living on Necker island enjoying a beautiful and exciting lifestyle with his family and wondered, “How do they do it?” How can you produce such extraordinary results in businesses, while living a dream lifestyle and a totally exciting life? Isn’t building a business a lot of hard work locked up in an office 24/7 with your business partners, team, and employees? Well, it is like that for most businesses; however, today you have every single tool you need to create a lifestyle business that you can run from anywhere in the world. Today it’s the best time in history to build a business that will give you both the income and the freedom to live the way you want, either you want to live in a different country every month or work from home while raising your family or work from the beach with your laptop. So how can you make that possible? Hi, I am Pavlina Papalouka, I am a coach, a speaker in personal development, online branding and entrepreneurship, and I help entrepreneurs create successful businesses and a lifestyle that they love, and in this video I want to give you the top 3 business secrets that I learned directly from my mentors, who are very accomplished entrepreneurs, high achievers who have created successful lifestyle businesses themselves.
To create a lifestyle business that you can run from anywhere in the world, you need to have a combination of the following 3 key components: Step number 1 is that you need to have the right business model. Everyone is focusing on creating their business plan; however, what you really need to be thinking about first is what is your business model and how does you business model allow you to create a business that you you can manage from anywhere, that other people can run for you while you are managing processes from your laptop, and the most important is: your business model, is it designed to produce online sales even while you sleep? Think of a business like a shop in a big mall versus an online shop where people can click a button, buy products or services and have their team manage everything in the background. If you want the lifestyle freedom, you would have to choose the second business model. Which takes us to step number 2 – creating systems. Once you determine your business model, you need to create systems around how everything will operate in the business without you having to be there.
Systems of what is needed for the business to operate according to certain standards. Systems of how your team will manage every activity and every process without you having to be there. Your role in the business as a leader and business owner is to create these systems and processes so that you can train other people to run the business for you. If you haven’t done this before and you don’t have a clue how to create systems, hire a mentor or a consultant with proven results on creating systems for their business or for other businesses and let them guide you. To get an idea of what systems mean, think of a successful franchise like Starbucks. In every country and in every airport around the world, you get the exact same Starbucks. It’s all based on duplicatable systems that the employees can follow in any part of the world without the owner having to be there. Step number 3 is learning the art of delegation. That was the part I personally struggled with the most as an entrepreneur. Many entrepreneurs when they are starting out, are perfectionists and they think that if they don’t do everything themselves, it’s not going to be of certain standards and this is the exact thing that stops them in their growth because if you can’t delegate, you can’t grow.
And not only you can’t grow, but you burn yourself out. One of my mentors at the early stages John Assaraf always said ‘You need to hire people who play at things you need to work at’, which means, know your top skills as a business owner and focus on them and then hire people who are great at everything else and delegate to them. As a business owner, you need to remember that you need to be working on the business, not in the business. This is Pavlina Papalouka, if you have enjoyed this video, remember to subscribe for more and look for a link somewhere around this video for more information about my online programs and live seminars, where we help you gain the tools, strategies and systems to create a successful lifestyle business and brand, from anywhere in the world.
Until next time, remember that you don’t need to figure out everything yourself. There are people out there who have created the success, the systems, and the business that you want. Always make sure that you learn from people who have been where you want to go. .
As found on Youtube