I've had "lifestyle business" used as an insult to what I'm building, Predictobot.com. It was from a guy who takes lots of VC money, builds big startups with a direct sales force, and then eventually sells them to Oracle. (At least he sold his last one to them.) It didn't bother me in the least, as that's not what I aspire to.
Excellent sign-up page, it describes exactly what it is in a succinct sentence, and puts the (very good) pricing right in front of the visitor. It enticed me to sign up right away.
When you reach launch, I'd suggest putting some examples on the site so potential customers can see your capabilities in some depth.
Absolutely love the robot logo. I'd wear that t-shirt.
Thanks for the feedback. I'm giving the first demo of Predictobot on July 28th at PyData Boston, so the "live" site should be up around then. It has nice demos.
I sometimes wonder if this isn't an insult uttered in a moment of jealousy. Like when the unachieving youngsters reasure themselves that their more successful counterparts may have better school grades or better chances of employment, but surely they have no life.
I currently work for something that may be called a "lifestyle business". I also did a lot of independent work. Got burned in a "serious business" twice, and it will be a long time before I touch one again.
The money isn't all that great, but it's not bad, either. I can literally afford pretty much anything I want, and my lifestyle isn't frugal. I can try a new, interesting wine at every dinner, if I feel fancy I can eat at a fancy restaurant and I travel a lot; not business class, but I don't really feel I need it, either, and the people I meet in a train are worth far more than a premium lunch. I have time for all my hobbies, I can go for a walk with my girlfriend any time I want, and I have a secure, healthy lifestyle. I have less money than a corporate employee, but I am a lot richer.
Quite frankly, I also found the working conditions to be a lot better. My first job in a large company was an utter failure due to the culture clash; I'd literally have nothing to do for weeks at a time while the corporate drones were stroking each other in the beginning of a project, and while many of my colleagues were at least competent programmers, most of them were utterly horrified of the idea of learning anything new (and this was actually a large, successful company, not some dotcom-boom crap). I had regular clashes with my superiors because I'd finish my tasks well before half the day was over, there was nothing else for me to do, but I couldn't go home, either (you can't log hours if you aren't there, can you?). The long decision chain, questionable technical competence in the upper layers and slow reaction, even when I only had just 2 or 3 hours of coding a day, I'd smoke through almost every task they had. Work would occasionally overcrowd before a deadline (though for some reason that only happened in the teams of some of the managers -- always the same ones), but other than that, the challenge level was so low I was eager to get the hell out of there just so that I can do my job.
Shameless plug: I am working on a book on how to find and test ideas for lifestyle businesses. Target demographic: HN coders who want to quit their jobs and become patio11* :)
To be fair, I'm not really looking forward to an interview, but thanks! I really think your book is a nice idea, and I'm sure there are plenty of people who could offer far more enlightening information than me. I'll send you some more info by e-mail (it's the one in your profile, right?) to make sure I don't come out as a total dick for not helping you.
I'm the founder of a firm that has had investors reach out from time-to-time and some do ask "Are you trying to build a big business or a lifestyle business?" In this context, "lifestyle biz" is absolutely a pejorative term.
The implications/sub-text of that question is:
1. If you don't plan to take money, you're probably not thinking big, are not ambitious, etc
2. You'll need capital and expertise (probably ours) to build a big business
What I've found is that the better investors tend to ask a different question "At what point, if any, would you think of raising capital?" This question gives the investor the same info without the insulting sub-text.
- Building a real business (revenue > costs) and growing it gives you more leverage with investors down the road should you want to go down that path. That's our plan. http://www.cbinsights.com/team-blog/investors/
If your primary goal in life is to accumulate as much money as possible, then you should try and get VC funding, and aim for the biggest exit possible in the shortest amount of time.
If your primary goal in life is to enjoy yourself and/or gain satisfaction from your work, you should try and optimise for happiness. This doesn't require millions of dollars; it simply requires a work arrangement that you are happy with and provides you with a sufficient income to fulfill your personal desires.
Different people have different goals in life, and there's nothing wrong with that.
It certainly is to those who've drunk the pg kool-aid, aka "the only valid definition of a startup is a company that prioritizes growth above all else, including a viable business plan".
It's often a veiled insult trickling down from the people who have some "lifestyle" themselves, which usually is delivered by people who like the startup speak and are busy not creating any real value for customers.
A truth maybe some don't want others to know is this: Your ability to create, pursue and have a deeper life benefits greatly from a modest financial engine.
I believe in working incredibly hard all the time. My ability to do so and pursue other ideas has been helped greatly by having a financial engine. Learning this balance every day has been invaluable to me.
There is a fair point in learning to focus on a few things. HN doesn't lack technical skills. It lacks business acumen and experience. Like coding, you learn to walk before you run, or pretend you're a star athlete from day one in business?
Every large business started small. There is no harm, or problem in learning to build a business into a success be it smaller or larger. Just pay attention to whether you stop after success, and if it's what you want. The same business building skills are needed when growing the big idea.
Most people who give up their 20's for something, will end up with just that, giving up their 20's and not much else. Not my opinion, but a stat that seems apparent. Think ahead, and there's a chance to get ahead.
Entrepreneurship is about about finding your path to customers. Everyone here is smart enough to put software or technology to work for them with just a little bit of their talent, focused.
If you build yourself a financial engine that can set you up and serve you, you'll be building the habits to do what you want well into your 30's and 40's when everyone else has to pack up and call it a day to pay the bills that never go away.
I don't know where the term came from, but I suspect it came from investors trying to come up with a euphemism for "not investable". If your'e a VC, a lifestyle business actually is a bad thing - it just doesn't work for them.
Where the train goes off the tracks is when entrepreneurs start using the term in a way that roughly translates to "script kiddie". That is just immature.
"You mean, am I interested in starting something with a decent balance or do I want to ride a flaming train-wreck with burning money flying off it into the black abyss?...
