Browse Definitions :
Definition

lifestyle business

A lifestyle business is one that is geared toward supporting the owner’s income and personal requirements rather than maximizing revenue. 

The goal of a lifestyle business is to create a sustainable and pleasant work/life balance. The business should be lucrative enough to allow the lifestyle the owner desires without having to sacrifice a personal life. The type of business may also be selected on the basis of personal interest, so that time spent working is enjoyable.

The lifestyle business concept is sometimes contrasted with that of the startup, which is intended to grow rapidly and create significant profit. On that basis, a startup may attract venture backing. Because it is not intended to generate significant growth or revenue, owners of lifestyle businesses usually have to provide all the funding themselves. 

Lifestyle businesses are often considered an alternative to retirement.

This was last updated in July 2013

Continue Reading About lifestyle business

SearchCompliance

  • information governance

    Information governance is a holistic approach to managing corporate information by implementing processes, roles, controls and ...

  • enterprise document management (EDM)

    Enterprise document management (EDM) is a strategy for overseeing an organization's paper and electronic documents so they can be...

  • risk assessment

    Risk assessment is the identification of hazards that could negatively impact an organization's ability to conduct business.

SearchSecurity

  • PKI (public key infrastructure)

    PKI (public key infrastructure) is the underlying framework that enables entities -- users and servers -- to securely exchange ...

  • obfuscation

    Obfuscation means to make something difficult to understand.

  • dumpster diving

    Dumpster diving is looking for treasure in someone else's trash.

SearchHealthIT

SearchDisasterRecovery

  • risk mitigation

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a business.

  • call tree

    A call tree is a layered hierarchical communication model that is used to notify specific individuals of an event and coordinate ...

  • Disaster Recovery as a Service (DRaaS)

    Disaster recovery as a service (DRaaS) is the replication and hosting of physical or virtual servers by a third party to provide ...

SearchStorage

  • cloud storage

    Cloud storage is a service model in which data is transmitted and stored on remote storage systems, where it is maintained, ...

  • cloud testing

    Cloud testing is the process of using the cloud computing resources of a third-party service provider to test software ...

  • storage virtualization

    Storage virtualization is the pooling of physical storage from multiple storage devices into what appears to be a single storage ...

Close