Don't we all want the entire pie for ourselves? Of course that comes with ramifications, mostly around the waistline. In business, we all want a little more of the available pie. Who among us has all the pie (or market) that you want for your business? If you're saying "Me!," then you most likely have a lifestyle business. In short:
A lifestyle business is one that has been set up or has become a business that allows the owner(s) the ability to maintain a certain level of lifestyle they are comfortable with and have been accustomed to. There really is no desire to grow beyond that level of business.
I'm not saying there's anything wrong with a lifestyle business, but what if you do want to grow and get more of that pie? If we imagine the markets we serve as a whole pie, very few of us have the market share represented in the picture. More often than not, what we do have would barely be considered a full serving of dessert. The real dilemma is, how much pie is actually available in your market space?Read More