Building Lifestyle Businesses: The Underrated Path to Success

In a world chasing billion-dollar valuations, lifestyle businesses offer fulfillment and sustainability. Learn why starting small can lead to big wins.

This article was originally published in 2014, and has been republished in 2025.

This week flew by, and as we head into the weekend, I wanted to share a key takeaway from a conversation I had yesterday with Brett Topche, Managing Director at MentorTech Ventures. As all my conversations tend to do, Brett, who also serves on the board of TicketLeap, and I pivoted amongst a variety of topics—ranging from emerging startups to tech valuations and even the ticketing industry. But one topic stood out: the value of lifestyle businesses.

In today’s startup culture, it’s easy to get swept up in the allure of billion-dollar acquisitions and massive funding rounds. These stories dominate headlines, creating a perception that success is only measured by scale and market disruption. However, this mindset risks overshadowing an important truth: building a business that supports your lifestyle is a monumental achievement in itself.

Reframing Success in Business

The term "lifestyle business" often gets unfairly dismissed as less ambitious or impactful compared to high-growth startups. But let’s take a step back. A lifestyle business is one designed to sustain its owner’s preferred way of life—whether that means financial independence, flexibility, or creative freedom. These businesses can be highly profitable and deeply fulfilling without needing to scale to enormous proportions.

Real-world example? Think of a boutique consulting firm that generates steady revenue while allowing its founder to work flexible hours and pursue personal passions. Or consider a niche e-commerce store that thrives by serving a loyal customer base without aiming for global domination. These ventures prove that success isn’t always about size—it’s about alignment with personal goals and values.

The Case for Starting Small

Brett and I also discussed how starting small can be a strategic advantage—even for those dreaming of larger ventures down the line. Launching a lifestyle business is an excellent way to gain hands-on experience in critical areas like product development, team building, and market validation. These are foundational skills that will serve you well if you later decide to scale or pivot into a high-growth venture.

For instance, many successful entrepreneurs began with modest ventures before tackling larger ambitions. Jeff Bezos famously started Amazon as an online bookstore before it evolved into the global giant we know today. Similarly, Sara Blakely began Spanx with just $5,000 in savings, focusing on solving one specific problem for women before scaling her brand into a billion-dollar empire.

Why Lifestyle Businesses Matter

Lifestyle businesses also play an essential role in the broader economy. They often serve niche markets overlooked by larger corporations, fostering innovation and diversity in industries ranging from tech to retail. Moreover, they create jobs, support local communities, and contribute to economic stability without requiring massive infusions of venture capital.

But perhaps most importantly, they offer entrepreneurs something priceless: control over their time and priorities. In an age where burnout is rampant, this level of autonomy can be life-changing.

Takeaway for Aspiring Entrepreneurs

As you reflect on your own entrepreneurial journey—or consider starting one—don’t discount the power of simplicity. Not every idea needs to disrupt an industry or attract millions in funding to be worthwhile. Sometimes, the best ideas are those that align with your skills, passions, and desired lifestyle.

So as we head into the weekend, let’s celebrate all forms of entrepreneurship—whether it’s building the next unicorn or simply creating something meaningful that allows you to live life on your terms.

And if you're looking for inspiration or just need a laugh, here’s a comic I came across that perfectly captures this sentiment (imagine something witty here about balancing ambition with reality).Enjoy your weekend!