So it is official: I have banned the term 'lifestyle entrepreneur' from ASU SkySong, where we currently support over 35 high potential startup companies. Why ban this expression? Well there are a variety of reasons. Firstly, I think that there are no real entrepreneurs out there who are doing this as a 'lifestyle.' Whether you are running a venture-backed startup or a corner shop, the hours and commitment are punishing. A 'lifestyle' job is going in at 8 am and leaving at 5 pm and not thinking about your job until the next morning. So why have I enforced this ban so vehemently? Because I think it is really a dismissive and often derisory term, something that no one should be allowed to use.
I overheard some of our young entrepreneur’s last year talk about how their businesses were 'high potential' and not a 'lifestyle' business. Therefore they were real entrepreneurs but not people who ran small businesses or franchises....they went through a list of people they saw as not being 'real entrepreneurs.' It was a long list. Frankly I was outraged; who were these kids to dismiss so many hard working entrepreneurs out of hand? I wouldn't mind it but none of these so-called entrepreneurs had actually achieved very much at the time of this discussion.
To read the original article: Goodbye 'Lifestyle Entrepreneur', Hello ‘Great Little Company’ | Entrepreneurship at ASU
