How to Make Money as a Lifestyle Entrepreneur

My personal definition of a lifestyle entrepreneur is someone who builds an online business or multiple businesses around their lifestyle.

In other words your lifestyle comes first, your business second.

As an example, my husband and I are lifestyle entrepreneurs. We travel full time and have created small and lean businesses that work around our nomadic lifestyle.

I’m not saying we don’t ever have to buckle down and get stuff done, but our goal has always been never to replace a job with essentially another job, working 24/7 to build a huge multi million dollar empire.

We need just enough to have the freedom to choose how we live and travel, and to make longer term investments which eventually turn into passive income.

We’ve been running online businesses and travelling for 14 years now, and I can wholeheartedly recommend this style of working and living! With no great plans to become the next Steve Jobs or create a silicon valley unicorn, we get to explore the globe, and balance our life between budget digital nomad backpack style travel and more luxury, slower, longer term stays in some beautiful destinations.

So I thought I’d put a post together with some ways that lifestyle entrepreneurs, particularly 50+ nomads can make money, and how to get started on your lifestyle entrepreneurship journey today.

Here are some of the top ways I recommend 50+ lifestyle entrepreneurs make money online today;

10 Ways to Make Money as a 50+ Lifestyle Entrepreneur

1. Freelancing

To get started quickly on your journey to become a lifestyle entrepreneur, I recommend freelancing. It’s undoubtedly the simplest and fastest route to generating an income from your laptop, and you have the freedom to work anywhere and at any time, so you can make the most of your talents and achieve your financial goals.

As a freelancer, you’re essentially selling your skills, and by our age we’ve built up a wealth of experience that lends itself perfectly to offering our services to other businesses/entrepreneurs.

You can start freelancing in a variety of ways, whether you specialize in a particular area, become a general virtual assistant or pick up a long term contract from a friend or old employer.

If you’re ready to take the plunge and become a freelancer, here are three tips to get you started:

1. Figure out your niche. Effective freelancers know their strengths and specialize in a particular area. Try to develop a portfolio of projects that showcases your specialty and use it as a way to showcase your skills for potential clients.
2. Register with Freelancing Sites. Use sites such as upwork.com, fiverr.com or freelancer.com to create a profile and start to bid for jobs. Research your niche for freelance jobs, as if you’re a writer, photographer, voice over artist etc, there are even specialized websites where you can find work.
3. Learn to market yourself. Your success as a freelancer depends on your ability to promote yourself and your services. Create an eye-catching portfolio and use SEO and other marketing techniques to increase your exposure. Build a strong online presence through your website, social media and blog.

Finally, remember to always put your clients and their needs first. Stand by your work, exceed expectations and the rest will follow. With the right attitude, discipline and hard work, freelancing can be extremely fulfilling and a stepping stone to something bigger.

2. Start a Newsletter Subscription Business

Another excellent way to make money as a lifestyle entrepreneur is by creating a newsletter subscription business. With the rise of content marketing and the need for valuable information, starting a newsletter has become an attractive option for many entrepreneurs.

Here are the main steps to get started:

1. Choose a niche: Select a niche that you’re passionate about and have expertise in. This could be anything from health and wellness to personal finance or travel.
2. Start a social media account: Create a social media account on platforms where your target audience is most active. This will help you build a following and engage with potential subscribers.
3. Create a lead magnet: Develop a free resource that provides value to your audience in exchange for their email address. This could be an e-book, checklist, or mini-course related to your niche.
4. Create content promoting your lead magnet: Develop content that promotes your lead magnet and encourages people to subscribe to your newsletter.
5. Use a newsletter platform: Consider using platforms like Beehiiv, Flodesk, or ConvertKit to manage your newsletter. These tools offer user-friendly interfaces, customizable templates, and automation features that make it easy to create and send professional-looking newsletters.
6. Send regular newsletters: Once you’ve built a substantial email list, start sending regular newsletters packed with valuable content. Aim to provide a mix of informative articles, personal stories, and actionable tips that keep your subscribers engaged and coming back for more.
7. Expand your offerings: As your audience grows, you can add paid subscriptions or products. For example, you could create a premium newsletter with exclusive content, offer one-on-one coaching sessions, or sell digital products like courses or templates.

Remember, the key to success with a newsletter subscription business is consistently providing value to your audience. By building trust and establishing yourself as an expert in your niche, you’ll be well on your way to creating a profitable and fulfilling lifestyle business.

3. Consultant/Coach

Consulting or coaching is an excellent way for lifestyle entrepreneurs to monetize their experience, expertise, knowledge, and skill set.

By positioning yourself as a sought-after expert in your chosen industry, you can build a thriving business that allows you to help others succeed while enjoying the freedom and flexibility of the entrepreneurial lifestyle.

The rewards of consulting and coaching extend beyond financial gain. You have the opportunity to make a meaningful impact on people’s lives, helping them grow and achieve their goals. In return, you gain respect, value, and a sense of fulfillment in your work.

As a consultant or coach, you have the power to set your own schedule and work on your business in a way that complements your lifestyle. You’re not tied to an office or expected to work long hours, giving you the freedom to balance your work and personal life in a way that suits you best.

To get started as a consultant or coach, consider the following steps:

1. Identify your areas of expertise: Reflect on your skills, experiences, and knowledge to determine where you can provide the most value to your clients.
2. Develop a unique offering: Think creatively about how you can package your services, whether it’s through one-on-one sessions, workshops, seminars, online courses, or in-person consultations.
3. Define your target audience: Conduct thorough research on the demographics, interests, and needs of your ideal clients, and tailor your marketing efforts accordingly.
4. Promote your services: Utilize various marketing channels, such as social media, email campaigns, content marketing, and word-of-mouth referrals, to attract potential clients and establish your brand.
5. Set competitive pricing: Determine the right price for your services based on the value you provide, your target market’s willingness to pay, and your desired income goals.
6. Deliver exceptional value: Consistently provide high-quality services that exceed your clients’ expectations, fostering long-term relationships and generating positive referrals.

Building a successful consulting or coaching business requires dedication, hard work, and a commitment to leveraging your expertise to become a leader in your industry. By focusing on delivering exceptional value to your clients and continuously refining your offering, you can create a profitable and fulfilling business that aligns with your desired lifestyle.

4. Selling Digital Products

My fourth suggestion to make money as a lifestyle entrepreneur, is to sell digital products.

Digital products are an excellent way for lifestyle entrepreneurs to generate income while maintaining flexibility and scalability. These products can be created once and sold indefinitely, making them a valuable asset for your business.

Digital products include items such as ebooks, audio files, videos, software, or even webinars.

Here are the steps to create and sell digital products successfully:

1. Choose your niche/target market: Identify a specific audience that you want to serve with your digital products. Consider their needs, problems, and interests to ensure that your products will be valuable and relevant to them.
2. Build an audience: Before launching your digital products, focus on growing your audience through various channels. Utilize social media platforms to engage with your target market, create valuable content to attract potential customers, and most importantly, build an email list to establish direct communication with your audience.
3. Create a digital product that meets the needs of your audience: Listen to the questions, feedback, and concerns of your target market to develop a product that addresses their pain points. Consider starting with a minimum viable product (MVP) and iterating based on customer feedback to improve and expand your offerings.
4. Promote your products: Once your digital product is ready, promote it through your email list, social media channels, and other marketing efforts. Encourage satisfied customers to leave reviews and testimonials, as social proof can be a powerful tool in attracting new buyers. Incorporate your digital products into your lead generation funnel to maximize their visibility and sales potential.
5. Diversify & Scale: As your business grows, consider diversifying your product lineup to cater to different segments of your audience or to address additional needs. Continuously improve and update your existing products based on customer feedback and market trends. Look for opportunities to scale your business by expanding your reach, partnering with other entrepreneurs, or exploring new marketing channels.

To ensure success in selling digital products, prioritize providing an excellent customer experience. Invest in yourself by learning the necessary skills for creating high-quality products, and utilize existing tools and platforms to streamline the creation and marketing processes.

By following these steps and consistently delivering value to your audience, you can build a thriving digital product business that supports your lifestyle entrepreneurship goals.

5. Start an Ecommerce Business

One of my favourite business models for lifestyle entrepreneurs is starting an ecommerce business.

With the right planning and execution, you can create a thriving online store that allows you to enjoy the freedom and flexibility of the entrepreneurial lifestyle.

The beauty of an ecommerce business is that you can start small and scale up as your business grows, without the burden of physical store locations and high overhead costs. There are several ways to approach starting an ecommerce business:

• Create an Etsy shop and integrate with a print-on-demand app to sell branded products
• Sell on a print-on-demand marketplace like Redbubble
• Dropship using Amazon or your own Shopify store.
• Create your own website and sell private label products
• Sell on Amazon using their FBA (Fulfillment by Amazon) program

To get started:

1. Choose a memorable store name and identify your target market.
2. Select the business model that best suits your goals and create your storefront on your chosen platform.
3. Source, manufacture, or create the products you want to sell.
4. Set up customer service, shipping, and return policies.
5. Optimize your store for search engines to increase visibility and attract potential customers.
6. Prioritize creating a user-friendly customer experience to encourage repeat business and positive reviews.
7. Invest in marketing and advertising tactics, such as Google and Facebook ads or influencer partnerships, to spread the word about your store.
8. Utilize social media to grow your business and engage with your audience.

Building relationships and trust with your customers is key to generating more traffic and sales. If you’re building your own website, create a visually appealing design that makes navigation easy for customers. Provide excellent customer service by responding quickly to queries and addressing any concerns.

While launching an ecommerce store can be daunting, it’s a fantastic opportunity for you as a lifestyle entrepreneur to build a successful business that aligns with your values and desired way of life. With dedication, strategic planning, and a focus on customer satisfaction, you can create a thriving ecommerce business that supports your entrepreneurial journey.

6. Start an Amazon FBA Business

FBA stands for ‘fulfilled by Amazon’, which says what it does on the tin. As a seller, you store your products in Amazon’s fulfillment centers, and when a purchase is made, the order is ‘fulfilled’ by Amazon, ie., they ship your