There’s a debate in the startup community between the lifestyle and growth entrepreneur. Now, no one likes labels, but the idea is that a lifestyle entrepreneur optimizes for his or her lifestyle while the growth entrepreneur focuses on growth at any reasonable any cost.
Here are some ways the lifestyle entrepreneur differs from the growth entrepreneur:
- Lifestyle entrepreneurs look to company profitability for personal income, keeping in mind growth goals, while growth entrepreneurs put all the emphasis on growth
- Lifestyle entrepreneurs are averse to raising outside money while growth entrepreneurs always try to raise money
- Lifestyle entrepreneurs are more comfortable with the status quo while growth entrepreneurs are constantly looking to shake things up and reinvent their business to grow faster
Why distinguish between lifestyle and growth entrepreneurs at all? It’s important to understand ones motivations and ambitions, especially when developing a peer group and connecting with mentors.
What else? What are some other differences between lifestyle and growth entrepreneurs?
David Cummings on Startups 
No one likes labels, but which category would you put yourself in and why do you prefer it? If the motivation for the growth entrepreneurs is building something big, could there be a third group of people who value growth while eschewing outside money/controls if at all possible?
Wouldn’t a lifestyle entrepreneur also be focused on how the business fits and enhances personal lifestyles and providing income to that end?
Is the debate between being a lifestyle or growth entrepreneur related to the debate between ‘means & ends’. Is having a business a means for the lifestyle entrepreneurs to realise their ideal way of living, while growth entrepreneurs perceive growing a business as a goal itself?
I agree David. We’re working hard to blur the lines and it’s refreshing to hear others with a similar perspective. I wrote about it here this week if you’re interested 🙂 http://blog.gettimely.com/the-growth-lifestyle/