There’s always an ongoing debate in the entrepreneurial community about what makes a newly founded business a startup (growth business) vs a lifestyle (small business).
Today I came across yet another perspective on the growth vs lifestyle debate. This one comes from Atlanta serial entrepreneur and angel investor David Cummings from back in 2010. Cummings states:
Growth businesses have a repeatable sales process that doesn’t involve the owner/founder.
In short, the conclusion Cummings is making is that if you are required to be there everyday to generate revenue for you business, then you are not working on a growth startup, you are creating a small lifestyle business.
Either one is ok, just make sure you are clear with yourself on the time commitment and financial outcome your choice may or may not limit you to.
Read the full blog post from David Cummings here.
Being an entrepreneur is tough. We all know that. But what’s even tougher is avoiding burnout along the way. British-Australian entrepreneur Kate Kendall shared a post on her blog yesterday exploring this topic from the lens of her personal struggles. She states:
Burnout feels like you (can) no longer give a shit about things you usually care so much for. Your momentum is off. Giving up seems like a serious option. You’re indecisive and lost. You feel bitter.
Kendall also goes on to share some tips for managing and avoiding burnout that she is picking up as she works her way through her current funk. The secret sauce here is that you must anticipate the fact that you will burnout if you maintain an unhealthy routine. It is much better to get into a sustainable rhythm that supports a lifestyle you can maintain over the long run.
I suggest you read Kendall’s full blog post here.