welcome back today I wanted to talk
about lifestyle businesses because I
think lifestyle businesses present one
of the best ways that you can actually
live out your life it's somewhere
between working a soul-sucking
nine-to-five job and then being a CEO of
a huge corporate company in which are
always hustling and stressed all the
time yes there may be some financial
rewards but the lifestyle is not
necessarily the best and you've seen
Elon Musk himself say that you don't
really want to be like him yeah it's not
as much fun being me as you'd think I
don't know you don't think so yeah I'm
not sure I want to be me so lifestyle
businesses which is pretty much what I'm
doing right now you can consider it like
a small business in which somebody
intentionally designs the type of
lifestyle they want and then chooses a
business that helps them operate it in
that way quick pause this video is
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link in the description below and so for
me this is something I've done a number
of years in my past when you're doing
like say independent app development
creating some website on your own run
your online business and then you
intentionally decide you don't really
want to sit down and hire a bunch of
people except the venture capital and
tried to 100 extra business buy a bunch
of stores because that's just not really
for you like for me whenever I get to a
certain point in the business I find
that I usually just take off for travel
I don't really want to sit down a hire a
bunch of people I just want to go out
see the world sample the world's
cuisines and then the income that I'm
generating that cash flow is just
supporting me and that's pretty much
good enough for me and that's what I
want I don't really want another boss I
don't want to be held accountable to
that I just want to go out and enjoy my
life so this is about lifestyle design
and unfortunately I think it's something
that we don't really teach in schools
either right usually we just ask kids do
you want to be a doctor lawyer or
engineer and you choose one but in
today's society with the internet and
remote work available there are far more
many lifestyles than just locking down
in one city and working this one job for
thirty years until the end of your life
so if you take a look at the past pretty
much everybody had the same lifestyle
there was no decision to make here
people would just be working their
office jobs thirty years
eight hours a day and that was pretty
much it but these days you can actually
have so many different ways of working
actually yeah you can be a doctor but
you could be a doctor working remotely
traveling around different countries
helping people in poorer areas or you
could just be a normal doctor working in
the suburban clinic eight hours a day
and for software engineering as well you
could work independently if you don't
want a boss you can work in a start-up
where you're moving faster learning more
things or working in a large corporate
company in which generally people will
tell you what you need to be doing and
then you have a little bit less power
and control and flexibility and your
choices so one trend I've seen among
programmers is that at some point after
they've finally achieved their career
goals they quit the entire industry
because they realized that they didn't
really enjoy the lifestyle that it
created for them they didn't like the
cubicles staring at the computer all the
time and typing they wanted to be
outside they wanted to do something
physical and so this is where when you
don't plan out your lifestyle and you're
focusing entirely on the career or the
financial aspects that it can actually
backfire and then you see these
programmers they go off and they become
bartenders or they open up a restaurant
or start a boat shop like I met a
programmer here who used to work at
Yahoo and he quit the whole industry
came here to Hawaii opened up his own
tour company and now he drives the buses
around giving tours to people what
happens is after a while you gain enough
money maybe once you start reaching 100k
per year or you've saved up a nest egg
then you start thinking well what are
you gonna do with the rest of your life
and you start seeking more like what
type of lifestyle do you actually want
or do you want to just retire and sit on
the beach all day and just your income
entirely stops at that point and that's
not really fun either and sometimes
people may find themselves trapped in a
position in which say they could be
making a lot of money but then their
lifestyle isn't necessarily what they
really enjoy I think what many people
fail to realize is that there's this
level between being poor and rich
somewhere called like a middle-class
male in their say and this is where a
lot of people are where you have some
sufficient funds you don't necessarily
have enough to completely retire but
financially you're doing okay as well
and then you start seeking more from
life like it's not just all about money
at that point now with lifestyles in
mind I thought it would be interesting
to take a look at my current situation
because I had recently been working as
some top-tier tech companies like
Facebook and Google
right now I'm pretty much working on my
own self-employed and my lifestyle I
think has taken quite a hit actually
because of the bigger companies usually
they have a lot of global infrastructure
they have people support for you they
have this huge network tools equipment
good health insurance people to back you
up Intel and information everything you
need to really be functional in this
world along with a bunch of personal
development and training for you that
can really help you grow as a person you
get free access to coffee food holiday
parties smart co-workers and all of this
helps support a nice lifestyle for you
it is multi-billion dollar
infrastructure now if you decide to go
it alone though you don't have access to
any of this you're pretty much just
going around by yourself closed off from
all of these beautiful walled gardens
and pretty much no single person is able
to compete with it this level of global
infrastructure no one can really own
that not even the CEOs of these
companies so this got me thinking it's
not really about the money you can make
as much money as you want as an
individual person but you'll never gain
access to say Google's global network
and their infrastructure and all of
their tools resources the people in
network you still can't get access to
any of that so it's like these huge
spaceships that only people with company
badges are able to get into and that's
gonna be what provides you quite a nice
lifestyle now personally what I like to
do is mix and match things up a bit yeah
sure I can keep climbing that corporate
ladder but it would not be able to
provide me freedom and flexibility the
ability to go travel around and just go
to a shopping mall on a Wednesday
morning
normally a time like that I should be
locked in my cubicle doing my
nine-to-five so taking sort of a mixed
approach here where sometimes I'm
working on my own working for a big tech
company working other startup this
variety of experiences I think gives you
a good mix of a bunch of different life
styles now if you two are looking to
start a lifestyle business then a few
tips for you first of all is to keep
things lean so not bring it into many
other co-founders try to automate as
much as you can such that you can
operate some of these businesses on the
side and it's not consuming way too much
of your time and not be too ambitious
because there's actually some
opportunity in this little area where
large companies aren't actually going
after an area like say custom t-shirt
sales for Game of Thrones for example
they're just not going to be bothered
trying to make a profit in this area
it's not enough to sustain them but if
you're an individual operating in this
space it could be enough to sustain your
lifestyle for say a year or so you also
need to keep your skills sharp so even
if you're working in a corporate
nine-to-five job usually they pigeonhole
you in some certain technology and then
you're not really effective as an
entrepreneur or say so keeping your
skills broad enough and staying
up-to-date with current trends can help
you take advantage of more opportunities
as you find them in the market so ready
to get your lifestyle business started
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the description below so just something
to think about and the earlier you can
figure this out the type of lifestyle
you'd like to design for yourself the
better let me know what type of
lifestyle you're going for is that one
of travel living in big city if you
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Thanks bye