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5 Questions You Need to Answer to Keep Your Lifestyle Business From Failing

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Nobody starts a business wanting to fail. Yet, that’s exactly what happens to 8 out 10 entrepreneurs and that too within the first 18 months according to Bloomberg. Why would that be any different for a lifestyle business?

A lifestyle business simply put is a business that supports the lifestyle the owner wants. This could be travel for some or the flexibility to run your day on your own time. A lifestyle business is the greatest opportunity given by the internet but it also has several cards stacked against it.

The number one reason why lifestyle businesses fail is a lack of focused effort and strategy. There’s even a name for this ‘condition’ that causes you to veer off tangents from your initial goal. It’s called Shiny object syndrome.

This (almost) sinister syndrome is most prevalent in the online environment because of the fast pace at which information products, courses and ideas are released and discussed.

How do you stop yourself from falling prey to Shiny object syndrome and going off tangent from your initial goals?

Here are 5 questions you need to ask yourself:

1. What are your big hairy audacious goals (BHAG)?

Would you board a plane knowing that your pilot didn’t have the itinerary or map needed to navigate the plane to its destination? Of course not. But don’t you think so many of us sway from one shiny course to another? Implementing a different strategy every other day, without a clear idea of where we’re going?

This is why it’s important to have ‘big, hairy, audacious goals (BHAG)’ This is a term introduced by Jim Collins and Jerry Porras in their book Built to Last: Successful Habits of Visionary Companies. These are goals that usually have a time-frame of 5, 10 or 15 years.

When you keep these goals on your wall, you immediately chart a certain path to get there. Every time you’re at a crossroads with a decision you have to take, ask yourself which decision will align you more closely with your long term goal. Which decision will play a role to help you achieve that goal? This streamlines your efforts on what you need to do to get there.

“If you’re not a risk taker, you should get the hell out of business.” – Ray Kroc

2. What actions can you directly influence?

Every single day there is a rush of new tools in the market that help us analyze our metrics and statistics-bounce rates, engagements levels, heat maps, SEO optimization.

While these are no doubt important, a focus on metrics and statistics in the early stages will often leave you feeling demoralized and jaded. These are numbers that you cannot directly influence.

For instance, have a look at this target: Get 10,000 subscribers within 3 months. You can’t influence this directly. But here’s what you can influence:

  • Create a specific lead magnet aligned with your product
  • Pitch one site a week to guest post on
  • Focus on building one social media platform where your target audience hangs out on
  • Run a paid ad campaign

See the difference? By focusing on actions you can directly influence, you won’t be tied down to metrics or statistics.  

3. Who are your mentors?

Are you scratching your head thinking: How does that even matter? According to a study by UPS, 70 percent of small businesses that receive mentoring survive more than five years – double the survival rate of non-mentored businesses.

As an online entrepreneur who is just starting out, paying to be part of a mastermind or paying for mentorship may be a costly option. But this doesn’t stop you from studying their actions, strategies and writing.

Look at how you can incorporate these teachings into your own business. But here’s where the caveat comes in. Make a clear distinction between who you admire and who you want as your mentor.

You may admire certain entrepreneurs but not necessarily agree with their values or practices. By trying to follow and emulate someone whose values you don’t relate to, you risk being miserable and misaligned with your ‘why’.

“Ideas are easy. Implementation is hard.” – Guy Kawasaki

4. What will move the needle in your business right now?

When you feel overwhelmed, ask yourself: What do you need to do right now to make progress? Nothing else matters, does it? Is there a particular skill you need to move forward? Is there a certain investment in a tool or course that would help in getting over a plateau or to move forward?

For many entrepreneurs, this might be switching to a new software platform, public speaking or writing better copy.

Once you have nailed down what you need to do to move forward, ask yourself if you can do this yourself, if you need help or is this a necessary investment in a tool or course. Overwhelm often comes when you have too many directions and options to pursue.

5. What do you bring to the table?

What’s your value proposition? How different are you? Each of us has a unique mix of strengths and weaknesses. It’s this unique makeup that draws people to you and your business.  Is it the way you write? Your style? Your voice? Your approach to things?

Nothing about your product or content is original. I think we can all agree that everything has been done and said in one form or the other. But the way you articulate your message has to be original. You have to affect people in a way that they either love your work or get repelled by it.

Stay grounded to your ‘why’. It’s easy to be thrown off tangent by shiny object syndrome. But these 5 questions will keep you grounded to your goals and your ‘why’ for starting your business.

What other tips would you add to this list to help your lifestyle business succeed! Leave your thoughts below!

Meera Kothand is a certified email marketing specialist, blogger and a self-professed email nerd. She blogs over at MeeraKothand.Com where she helps bloggers and solopreneurs create authentic blogs and businesses minus the sleaze to build an unmissable online presence and to make an impact online? Click here to get started.

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The Entrepreneur’s Reading List That Transforms Ideas Into Empires

These must-read titles and writing insights reveal how entrepreneurs turn bold ideas into empire-level success.

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Entrepreneurship is powered by stories—of accomplishment, failure, and decision moments that define businesses. Books are maps, providing insight from individuals who’ve traversed the road ahead. (more…)

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The Leadership Shift Every Company Needs in 2025

Struggling to keep your team engaged? Here’s how leaders can turn frustrated employees into loyal advocates.

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Bridging the gap between employees and employers
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In workplaces around the world, there’s a growing gap between employers and employees and between superiors and their teams. It’s a common refrain: “People don’t leave companies, they leave bad bosses.”

While there are, of course, cases where management could do better, this isn’t just a “bad boss” problem. The relationship between leaders and employees is complex. Instead of assigning blame, we should explore practical solutions to build stronger, healthier workplaces where everyone thrives.

Why This Gap Exists

Every workplace needs someone to guide, supervise, and provide feedback. That’s essential for productivity and performance. But because there are usually far more employees than managers, dissatisfaction, fair or not, spreads quickly.

What if, instead of focusing on blame, we focused on building trust, empathy, and communication? This is where modern leadership and human-centered management can make a difference.

Tools and Techniques to Bridge the Gap

Here are proven strategies leaders and employees can use to foster stronger relationships and create a workplace where people actually want to stay.

1. Practice Mutual Empathy

Both managers and employees need to recognize they are ultimately on the same team. Leaders have to balance people and performance, and often face intense pressure to hit targets. Employees who understand this reality are more likely to cooperate and problem-solve collaboratively.

2. Maintain Professional Boundaries

Superiors should separate personal issues from professional decision-making. Consistency, fairness, and integrity build trust, and trust is the foundation of a motivated team.

3. Follow the Golden Rule

Treat people how you would like to be treated. This simple principle encourages compassion and respect, two qualities every effective leader must demonstrate.

4. Avoid Micromanagement

Micromanaging stifles creativity and damages morale. Great leaders see themselves as partners, not just bosses, and treat their teams as collaborators working toward a shared goal.

5. Empower Employees to Grow

Empowerment means giving employees responsibility that matches their capacity, and then trusting them to deliver. Encourage them to take calculated risks, learn from mistakes, and problem-solve independently. If something goes wrong, turn it into a learning opportunity, not a reprimand.

6. Communicate in All Directions

Communication shouldn’t just be top-down. Invite feedback, create open channels for suggestions, and genuinely listen to what your people have to say. Healthy upward communication closes gaps before they become conflicts.

7. Overcome Insecurities

Many leaders secretly fear being outshone by younger, more tech-savvy employees. Instead of resisting, embrace the chance to learn from them. Humility earns respect and helps the team innovate faster.

8. Invest in Coaching and Mentorship

True leaders grow other leaders. Provide mentorship, career guidance, and stretch opportunities so employees can develop new skills. Leadership is learned through experience, but guided experience is even more powerful.

9. Eliminate Favoritism

Avoid cliques and office politics. Decisions should be based on facts and fairness, not gossip. Objective, transparent decision-making builds credibility.

10. Recognize Efforts Promptly

Recognition often matters more than rewards. Publicly appreciate employees’ contributions and do so consistently and fairly. A timely “thank you” can be more motivating than a quarterly bonus.

11. Conduct Thoughtful Exit Interviews

When employees leave, treat it as an opportunity to learn. Keep interviews confidential and use the insights to improve management practices and culture.

12. Provide Leadership Development

Train managers to lead, not just supervise. Leadership development programs help shift mindsets from “command and control” to “coach and empower.” This transformation has a direct impact on morale and retention.

13. Adopt Soft Leadership Principles

Today’s workforce, largely millennials and Gen Z, value collaboration over hierarchy. Soft leadership focuses on partnership, mutual respect, and shared purpose, rather than rigid top-down control.

The Bigger Picture: HR’s Role

Mercer’s global research highlights five key priorities for organizations:

  • Build diverse talent pipelines

  • Embrace flexible work models

  • Design compelling career paths

  • Simplify HR processes

  • Redefine the value HR brings

The challenge? Employers and employees often view these priorities differently. Bridging that perception gap is just as important as bridging the relational gap between leaders and staff.

Treat Employees Like Associates, Not Just Staff

When you treat employees like partners, they bring their best selves to work. HR leaders must develop strategies to keep talent engaged, empowered, and prepared for the future.

Organizational success starts with people, always. Build the relationship with your team first, and the results will follow.

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