A lifestyle business is a business that you can run from anywhere in the world, which means that you are location independent, and it generally involves the use of the internet. And you generally rely on your expertise, talent or skills.
Your work will be location independent – you don't have to move to a different country every couple of years and be a true digital nomad. You can choose to up and leave whenever you feel like. That means taking a long vacation any time you wish or spending a few months exploring a region. Or you can just move to an area outside of the city and have a stress free life. As long as there is wifi you can do all of the above.
You will be doing work you enjoy every single day - everyday you will be working on things you love and enjoy. This work will be very rewarding as you will be building a community around a specific topic. You will be able to create and sell products and services that help people accomplish specific skills. You can choose who you work with and what you work on.
Trips to awesome places will double as business expenses – is there a place you've always wanted to visit? If you can create a retreat or a workshop at that destination you can write off as a business expense.
You will be able to work or stop working whenever you want – if you feel like having a few days off the grid at any time you can. You can work at anytime during the day/night as all your interactions are online. Yes you can have lunch with a friend or go shopping in the middle of the day.
You will have about 10 times the experiences of anyone else – imagine visiting 4-7 destinations per year. Or the immersion in the culture for a couple of years. Imagine the experiences, the beauty you will encounter, the networks and relationships you will build. Imagine the skills you will acquire. The understanding of various cultures.
You will be able to spend more time with family and friends - do you have a friend over from interstate or overseas?Do you have family in other countries? You can take the time time you need to spend with them without interrupting your work
You will probably get wealthier every single year, never having to worry about money again – there really is no cap on how much you can make. If you create a vibrant community you could be making 6 figures every single year.