Who is Jesse Krieger and what you can learn from him: Reading through Jesse Krieger’s story is like peeking into a world where all your dreams come true. From aRead More
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]]>Reading through Jesse Krieger’s story is like peeking into a world where all your dreams come true. From a successful rock star to a bestselling author, it seems like everything Krieger touches turns to gold. And while it may be tempting to read his story and think that he was born under a lucky star, there’s no reason why you can’t duplicate his success. Here are five lessons that any entrepreneur can learn from Jesse Krieger’s life.
Probably the first thing you think about whenever you get a new idea is, how much is that going to cost me? New businesses (and old businesses too, sometimes) live and die by their budget. It certainly isn’t irresponsible for you to be mindful of how much a new investment is going to cost and running some figures to see if it’s worth the money. To really kick your business into the next gear, however, Jesse Krieger suggests a different approach.
Begin by asking yourself what you would do if money were no object. Don’t be afraid to dream big here. Paint a big picture and have fun playing with the details. Solidify your ideas by putting them down on paper. And then start investigating how much it would cost to actually turn this dream into a reality. Usually, it turns out that things cost much less than we fear they will. It may not start out quite the same as that dream image, but with a little creative thinking you can get a good start at making things happen. You never know until you try.
Being a lifestyle entrepreneur is much more than just getting a new job. Incorporating your business into your lifestyle makes it much easier for you to manage your business without giving up any of your loves. Many people think that when they structure their business, that has to get top priority. The rest of their life gets put on hold until they have their new company up and running. But the fact is it could be years before your business really finds solid ground. That’s a long time to be tied down to one project that is eating up most of your time.
Just like asking what you would do if money were no object, ask what your ideal life would look like. Do you want to do a lot of traveling? Do you want to see the cities of the world or would you rather explore the wilderness areas? Maybe travel isn’t your thing and you just want to settle down in a quiet country town somewhere. Determine those factors first and then build your business model around scenarios that makes that possible.
If your business is a product based business, make sure it is a systems-based process. Each and every order goes through the exact same process so that once you have your system in place, it never needs to be revisited. For an online business, having a fulfillment system in place is the biggest time saver here. At the very beginning of your business, it might not seem very difficult to have a basement full of inventory that you are shipping out. As your business grows, however, you are going to have a bigger and bigger inventory to manage. Setting it up from day one so that your products are being shipped directly from the manufacturer, for instance, will make it much easier for your business to grow without becoming too much for you to handle.
For a service-based business, it’s all about having a one to many offer. One on one coaching may sound appealing, but it makes it very difficult to expand your business as you only time for so many meetings or sessions in a day. To keep up with a growing client base, you have to structure your business from the very beginning to allow you to reach multiple people at once.
There are a lot of sites out there, such as Elance and Odesk, which allow you to place ads for jobs that you need done and receive competitive bids from skilled workers. Website design, marketing work, programming, and even administrative work can all be farmed out on these sites.
To get great deals from these sites, divide work between designers and programmers. Splitting the project up makes it a smaller job, which means that you can pay less per job. If you send the job off to one group, they are going to want enough money to pay a team as it is unlikely that one person will be able to meet your deadline on a large job like designing and programming a website. Dividing the work can halve your cost.
Many people go into entrepreneurship worried only about getting ahead and helping themselves. But anyone who has ever tried to start a business can tell you that it’s not a one person job. Reaching back to share your experience with those who have only just started a new business helps build a culture of contribution. The more this culture develops, the easier it is for you to find help when you need it. And remember, someone asking you for help today may be in a position to give you help tomorrow.
Preview the book, Lifestyle Entrepreneur, with Jesse Krieger himself
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]]>A summary of things you should know about Lifestyle Entrepreneur according to Jesse Krieger Introduction In this episode Wade meets with Jesse Krieger, author of Lifestyle Entrepreneur. If you areRead More
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]]>In this episode Wade meets with Jesse Krieger, author of Lifestyle Entrepreneur. If you are an entrepreneur that that believes in the motto “passion before profit” or are at a battle between the style of entrepreneur that describes you then “Lifestyle Entrepreneur” is for you.
I’ve founded or co-founded over 5 companies, helped dozens of Entrepreneurs start businesses and so I bring a firsthand perspective from being “in the trenches” at any given time working on the starting and the launch or growth of 2 or 3 business. So I’d like to think that I know what I’m talking about and I’m speaking from experience. It’s a collection of firsthand account stories of being in different lifestyle context mixed with how-tos and frame works that readers can use to put into practice in their own life and businesses.
The one thing I would want a reader to take away from this book is that you can go from not believing that this is possible for your life to firmly, fully believing that you have agency to create the lifestyle that you want to build a business based on your interests and passions. If there is just one thing that you can take away is that this is possible, it’s been done, that this is both my life and many of my closest friends’ lifestyles. So opening a door into a new way of business and proving it’s possible.
I take you right into being in the middle of a book tour in Malaysia and literally hiking in the jungles of Borneo one day and then speaking on stages in front of 100 people the next day. It starts with a sweeping overview of how I see the world changing today, specifically with the ability to hire and manage teams from anywhere in the world and the ability to work anywhere in the world with a laptop and internet connection. By the time you are a third of the way through the book, the reader should have a lot more clarity on not only what’s possible but what’s the ideal case for them. It allows specificity for the reading without telling people what they should do, rather giving the opportunity for the reading to discover and empowering them to think bigger within the context of what’s possible in this day and age. As we get closer to the end I give very specific recommendations on tools, software to use and ways to set up a workflow. By the time you get to the end of the book my goals is that the reading has an expanded view of what’s possible in life and business and now has the tools, resources, next steps and action plans to make it real.
“When you know what you want, it becomes clear what must be done, as you do eventually you come to be and that is your identity.” – Jesse Krieger
My inspiration is the result of not knowing how to answer the question ‘what do you do’ because it changed frequently. It started as a shorter piece but as I was writing and got additional inspiration, I decided to expand it out and do a full book that’s a mix of how to and stories/strategies for success as well as some featured lifestyle entrepreneurs that also embody this ethos; to be able to travel freely and frequently, to live a life of passion and purpose.
Atlas Shrugged by Ayn Rand
Buy Lifestyle Entrepreneur by Jesse Krieger on Amazon today
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Related books: The Suitcase Entrepreneur by Natalie Sisson | The New Rich by David Moore | The Business Idea Factory by Andrii Sedniev
Relevant advice and tips: 5 Personal Qualities That Make Up a Lifestyle Entrepreneur
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]]>5 Personal Qualities That Make Up a Lifestyle Entrepreneur When you organize a business and assume responsibility for its success or setback, you become an entrepreneur. But what makes someoneRead More
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]]>5 Personal Qualities That Make Up a Lifestyle Entrepreneur
When you organize a business and assume responsibility for its success or setback, you become an entrepreneur. But what makes someone a lifestyle entrepreneur? It is essentially the basic premise of placing passion before profit.
One marked distinction between an entrepreneur and a lifestyle entrepreneur lies in their attitude towards money. While an entrepreneur is in pursuit of profits, a lifestyle entrepreneur is satisfied with just ‘enough’ of it.
A lifestyle entrepreneur loves what they do and do what they love, even if it means a little less money.
Their focus is more on the lifestyle advantages that working on their own businesses offer – being at home with family, flexible working hours, satisfying creative spirits, working with people they want to, or for other such reasons.
But not everyone can be a lifestyle entrepreneur. It requires specific personal traits. Along with the urge to make a business out of their passion, they also need to have the right kind of attitude and approach to ensure their success.
To be a successful lifestyle entrepreneur you need to have the right personal qualities.
Independent
An independence of spirit is essential to succeed as an entrepreneur. And it is indispensable for a lifestyle entrepreneur. Your will to do something on your own, to put your passion into practice, and earn from it, is your only driving force.
Take for example the homemaker who bakes cookies as gifts for her family and friends. And she loves it. She will be happy to continue doing it. But with an independence of spirit and a goal to do something, she may very well start a business of handcrafted cookies.
Flexible
One of the reasons individuals want to have their own businesses is the flexibility they get with regard to working hours. But again, flexibility in approach is another personal characteristic that a lifestyle entrepreneur needs to possess.
Be it selling a product or providing a service, you need to strategize according to your target market, your industry, and your customer. If you aren’t flexible enough to adjust your tactics to the variable situations, you won’t be able to achieve success.
Resilient
Lifestyle entrepreneurs aren’t in pursuit of money. But that doesn’t mean they aren’t bothered about it. The only factor is that they are satisfied with just enough for their efforts. But again, they aren’t broken down by their failures.
Resilience of character is an essential trait of such an individual. They are equally capable of handling a success (which don’t go to their heads) as well as a failure (which doesn’t crush them). They treat them as stepping stones on their path to do what they want to.
Committed
When you decide to become a lifestyle entrepreneur, don’t just proceed without a plan. Focus on being the best in whatever you plan to do. And plan it well before you even take the first step.
Your first task is to decide what you want to do. Make a note of what points you will want in your new venture. After you identify the right business, do your research about the industry and the target market. Look for opportunities and make use of them.
Realistic
Not every one of your wishes will be fulfilled. You need to understand this. If you think that you will achieve success in six or twelve months, it is just a plan for disappointment. A successful lifestyle entrepreneur is one who is realistic.
It is a good idea to set goals. But extend the bigger ones over a span of time. And you will be able to achieve them. Set unachievable goals and you are bound to be let down. Lifestyle entrepreneurs know this, and maintain a realistic approach to attain success.
For a great book in reference, we recommend Jesse Krieger’s piece entitled “Lifestyle Entrepreneur: Live Your Dreams, Ignite Your Passions and Run Your Business From Anywhere in The World.”
Listen to my interview with Jesse Krieger taking an in-depth look inside his book >>> LISTEN NOW
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