You can work from anywhere in the world when you run a business that fits around your lifestyle. Photo: AFP
You can work from anywhere in the world when you run a business that fits around your lifestyle. Photo: AFP

Launch a lifestyle business instead of a start-up



I’ve been reading a lot about lifestyle businesses lately, and this is something important to look at especially among potential entrepreneurs who are looking to get their nascent ventures off the ground.

In simple terms, a lifestyle business is a business designed around the lifestyle you want to sustain. It’s called a lifestyle business because you will think twice about the business decisions you take and the kind of business you want to run, taking into account how they will impact your lifestyle.

In a lifestyle business, you are usually the only employee, so the stress of managing others is minimised. Think of it as freelancing but with lifestyle choices more on your mind. There are also no revenue limits in mind. You can easily become a millionaire while opting for such a route.

With a lifestyle business in mind there are less investments to keep in mind than a start-up. You wouldn’t necessarily go to investors and you wouldn’t hire a team.

So, when you start to build a business, it’s important to keep in mind that depending on your choice of business, it will have an impact on your life. Some businesses will require that you deal a lot with customers, so if you are an introvert, then this may not be the right choice. Others will require you to stay in front of the computer for hours. Again, if you are extremely social and would rather be around and interacting with a lot of people then this may not be your field of choice.

There are hundreds of business ideas that you can design with your lifestyle in mind. You just need to align those with the ones you are skilled at and see yourself doing. Examples could be: make up artist; copy-writing; web-design; management consultancy; interior design and so forth.

I love travelling a lot so building a consultancy where it doesn’t matter where I conduct my work from turned out really well for me when I started.

In fact, the change of scenery gets my creative juices flowing and always exposes me to new ways of conducting businesses that end up benefiting my clients.

Now the reason why I am an advocate of starting a lifestyle business than a start-up, is because it supports many entrepreneurs especially at the early stages of building a business, minimises their expenses, and it also has these benefits:

You don’t need to wait a long time to earn profits 

When it’s only you, you most likely won’t need to pay salaries, rent, or other expenses. You could start with the least amount of expense and make a profit in a short time. Many start-ups on the other hand, would wait at least a couple of years before their business makes any kind of profit. When I first started my consultancy, my business was profitable within a month because I didn’t pay rent for an office and I was the only employee.

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You can work from anywhere and at any time

You know how you see advertisements where someone says they only work four hours a week and make a really huge profit? Yes, that’s actually possible. Pursuing a lifestyle business allows you to choose where and when to work while suiting your lifestyle. When I first started, I got to work from Bahrain, London, Morocco, and Luxembourg. All that I needed was an internet connection.

Less stress

As an entrepreneur, building your business, especially if you’ve taken out a loan or have investors investing in your business, the stress will not go away. You’ll always be worried about projections, profits, losses, and paying your staff. A lifestyle entrepreneur has no one to worry about except themselves, thus the stress is minimised.

You learn more

When I first started my consultancy, I didn’t focus on just one thing. I learned about accounting, customer service, and web design. I did everything on my own. This forced me to learn how to manage different aspects of my business. By becoming a lifestyle business owner, you become a better entrepreneur, and that will come in handy as you expand your business and develop it to grow.

Does that mean that start-ups are bad? Not at all. They’re just different and you need to evaluate which one is most suitable for you. However, if you want to start a business, with the lowest expenses, while still enjoying profits, and control over your life, then I’d highly suggest you consider a lifestyle business.

See how things go and if it’s doing really well for you then you can maintain it the way it is, or take it to a different level such as hiring more staff and going down the start-up route.

Manar Al Hinai is an award-winning Emirati writer, who manages her creative consultancy in Abu Dhabi

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If you go...

Flying
There is no simple way to get to Punta Arenas from the UAE, with flights from Dubai and Abu Dhabi requiring at least two connections to reach this part of Patagonia. Flights start from about Dh6,250.

Touring
Chile Nativo offers the amended Los Dientes trek with expert guides and porters who are met in Puerto Williams on Isla Navarino. The trip starts and ends in Punta Arenas and lasts for six days in total. Prices start from Dh8,795.

Graduated from the American University of Sharjah

She is the eldest of three brothers and two sisters

Has helped solve 15 cases of electric shocks

Enjoys travelling, reading and horse riding

 

Results

57kg quarter-finals

Zakaria Eljamari (UAE) beat Hamed Al Matari (YEM) by points 3-0.

60kg quarter-finals

Ibrahim Bilal (UAE) beat Hyan Aljmyah (SYR) RSC round 2.

63.5kg quarter-finals

Nouredine Samir (UAE) beat Shamlan A Othman (KUW) by points 3-0.

67kg quarter-finals

Mohammed Mardi (UAE) beat Ahmad Ondash (LBN) by points 2-1.

71kg quarter-finals

Ahmad Bahman (UAE) defeated Lalthasanga Lelhchhun (IND) by points 3-0.

Amine El Moatassime (UAE) beat Seyed Kaveh Safakhaneh (IRI) by points 3-0.

81kg quarter-finals

Ilyass Habibali (UAE) beat Ahmad Hilal (PLE) by points 3-0

THE SPECS

Engine: AMG-enhanced 3.0L inline-6 turbo with EQ Boost and electric auxiliary compressor

Transmission: nine-speed automatic

Power: 429hp

Torque: 520Nm​​​​​​​

Price: Dh360,200 (starting)

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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Director: Rajkumar Hirani

Cast: Ranbir Kapoor, Vicky Kaushal, Paresh Rawal, Anushka Sharma, Manish’s Koirala, Dia Mirza, Sonam Kapoor, Jim Sarbh, Boman Irani

Rating: 3.5 stars

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Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

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Tax authority targets shisha levy evasion

The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.

Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".

The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.

He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.

"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.

As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.