When I wrote my book, Soul Proprietor: 101 Lessons from a Lifestyle Entrepreneur in 2001, I had a sense of what it meant to be a lifestyle entrepreneur. But not a definition that rolled off my tongue. I talked about the bottom line being more than simply a dollar sign, about loving what you do and about your work being a reflection of your life rather than vice versa.

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I recently heard two women business owners talk about their decidely un-lifestyle entrepreneurial business. It was at a Ladies Who Launch event in Fairfield, CT. They created a very successful company for a sole (not soul) purpose–to sell it. They differentiated themselves from lifestyle entrepreneurs whom they defined as follows:

  • Lifestyle entrepreneurs create their own way to make income, often doing something they’re passionate about.
  • Lifestyle entrepreneurs strive to grow what they have created.
  • Their intention is to have their lifestyle business support them for the rest of their lives.
  • They have no intention of getting venture capital investors for the purpose of selling their company.

The second bullet point is not exclusive to lifestyle entrepreneurs. Every business owner wants to grow what they have, but the end goals are different. My business goals match up with the bullet points they discussed. I loved the clarity and would choose this way of life any day of the week.