Crafting Your Life by Design with a Business
Step 3 of 8 in Starting the Right Business
Here’s the thing about starting a business that most people get backwards. They forget the main reason they are willing to take the risk of quitting a job with a predictable, albeit miserable, paycheck.
If you are thinking of starting a business or buying one, ask yourself why. Why do you want to embark on this new but less predictable life chapter? You’re probably craving more freedom, flexibility, and, sure, better pay, too.
That’s awesome! But before you jump into a business, there’s something else that’s important to figure out first:
What kind of life do you want your business to support?
Too many people dive into a business without really knowing what sort of life they’ll end up living. Because they make assumptions about business ownership.
They assume that being their own boss will be far better than working for that soulless company.
But here’s the reality check: that’s not always the case. The grass isn’t always greener on the other side.
Unless you do this one thing first:
- Before you come up with a brilliant idea and run with it
- Before you invest in a once-in-a-lifetime opportunity
- Before you sign the dotted line on a franchise agreement
- Before you buy any for-sale business
That one thing is: CRAFT YOUR IDEAL LIFE ON PAPER.
The reason many new entrepreneurs become disillusioned with their business in the first few years isn’t because of money. It’s because they end up hating their day-to-day life with that business.
They launch a company and then try to squeeze their life around it.
Sound familiar?
Here’s what typically happens:
They try to find their purpose in the business instead of uncovering their purpose first and then finding a business that brings that purpose to life. (We explored this crucial step 1 of the Right Business Right Life™ formula in our deep dive into discovering your life purpose [step 1 article].)
They try to develop new skills that are way out of their wheelhouse instead of leveraging their natural strengths with a business that will thrive because of them. (This is step 2 of our formula, which we covered in detail when we talked about identifying and leveraging your unique strengths [step 2 article].)
And, just like they did with their job as an employee, they end up having to organize their life around a company — this time, one they own.
Talk about irony!
Just yesterday, I got an inspiring email from a brave subscriber to this blog who had the courage to share that his work-life balance had actually gotten worse with his 2-year-old business. I’m so grateful he reached out because his honesty is exactly what will help other aspiring entrepreneurs avoid the same trap and help him improve his business to fit his ideal life.
Now, let’s be real here.
Going from life as an employee, where you have the security of a fixed salary, to a life where you “eat what you kill (or grow)” (to use an entrepreneurial metaphor) as a business owner isn’t a walk in the park. When our freedom and success depend on our own efforts and ability to generate business, we often have to step into unknown territory.
So, when we’re making this leap from employee to business owner, why not make it easier on ourselves? Why not actively choose a business that CAN deliver the life we actually want?
Sure, it’s not going to be a perfect match all the time.
There will be moments when a business project or objective requires some compromises. But at least we’ll choose to make them instead of being blindsided by them.
That’s exactly what the LIFE+ framework is all about. It’s a simple way to make sure your business actually helps you live the life you consciously want instead of taking over your entire world.
What’s LIFE+ All About?
LIFE+ is step 3 of Right Business Right Life, the methodology I created to help you pick the right business for you and steer clear of the businesses that are wrong.
Is it going to give you the absolute perfect life?
Of course not. It’s not going to help you find the right person, raise perfect kids, or magically fix your health. But it IS going to help you prioritize your time based on WHO and WHAT matters most to you.
Think of LIFE+ as your personal business GPS. Instead of just driving toward “success” (whatever that means to you), it helps you figure out how you want to live as a business owner.
Here’s what each letter stands for:
- L — Lifestyle (How do you want to spend your days?)
- I — Income (How much money do you need and want?)
- F — Flexibility (Where do you want to work?)
- E — Equity (What will your business be worth someday?)
- + — Your bucket list (What are your fun dreams?
L is for Lifestyle: When You Work
Time is the one thing you can’t get back, so let’s make it count! Before you dive into any business idea, ask yourself: “How do I actually want to spend my days?”
Love coaching your kid’s soccer team? Don’t start a restaurant that’ll keep you working every weekend. Want to travel the world? Maybe avoid a business that requires you to be in the same place every single day.
Take Jonathan, for example. This guy was a firefighter who absolutely loved skiing. When he retired, he started a defensible space and tree service company in a mountain town. Brilliant move! The business is crazy busy in summer when the weather’s perfect for tree work, but winter? That’s his time to hit the slopes guilt-free. He built the seasonality of his business around his lifestyle, not the other way around. Plus, as a firefighter, he understood the critical importance of defensible space and had instant credibility with homeowners concerned about fire safety. He also capitalized on his strengths and career capital, which is our step 2 of the Right Business Right Life methodology. Plus, his life purpose is to protect, and his new business also actualizes his values, which is our step 1 in picking a purpose-driven business!
I is for Income: Get Real About Money
Let’s talk numbers for a minute (don’t worry, we’ll keep it friendly!). Before you pick a business, you need to figure out two numbers:
- How much money do you need right now to pay your bills and sleep well at night while your business ramps up?
- How much do you want to make down the road when you’re really crushing it?
Here’s a perfect example: Josephine was making $250K at her corporate job. She wanted to eventually make $500K running her own show. At first, she thought about opening a gelato shop near a college town (sounds dreamy, right?). But when she crunched the numbers, she realized it would never get her to that $500K goal with just one gelato shop. So she pivoted and started an executive recruiting business instead, using her HR background and career connections. Smart!!
The lesson? Dream big, but also do the math. Your future self will thank you.
F is for Flexibility: Where You Work
Some people thrive in the buzz of a busy office. Others want to work from a cozy brick-and-mortar shop. Still others dream of working from home or from anywhere in the world with WiFi. None of these is wrong, but your business needs to match your style.
Linda figured this out during the pandemic. She was teaching yoga classes in person, but when everything shut down, she moved online. Suddenly, she could teach from anywhere, her overhead costs dropped, and she had way more freedom. Sometimes the best opportunities come from unexpected changes, don’t they?
E is for Equity: Building Something Towards a Payout
This one’s about creating a business that’s worth something even when you’re not there. Think of it as building an asset, not just creating another job for yourself. Is this your dream? Then decide how much you want to cash out when you exit, and do your research to find out what it will take for your business to sell for your target price. No guarantees, of course, but it’ll guide you in the right direction if you keep that goal in mind.
Lisa started her simple house cleaning service with minimal supplies and equipment. But over 12 years, she grew it into a commercial cleaning company with employees, systems, and a rock-solid brand reputation. When she decided to sell, she got $1.8 million for it. That’s equity in action! She built something valuable that could work without her.
The + is for Your Fun Dreams
This is the fun part! What milestones are on your bucket list? Travel the world with your kids? Write that book you’ve been thinking about? Spend more quality time with your grandkids? Support a cause you’re passionate about? Finally get that college degree? Train for Ironman races?
If these dreams are important enough to you, your business should help make them possible, not stand in their way.
How to Use LIFE+ in Real Life
Ready to give this a try? Here’s our game plan:
Step 1: Get honest with yourself. Sit down with a cup of your favorite beverage and really think about each part of LIFE+. What does your ideal lifestyle look like? How much money do you need? Where do you want to work? What are your big dreams?
Step 2: Test your business ideas. Got a business idea brewing? Run it through your LIFE+ filter. Does it match up with what you want? If not, either tweak the idea or find a different one that fits better.
Step 3: Make a plan. Once you find a business that fits, create a plan that keeps your LIFE+ goals front and center.
Step 4: Check in regularly. Your goals might change over time, and that’s perfectly okay! Once you’re in business, you can always evolve your business along with them.
Here is a table to help you organize your thoughts and gain clarity on the life you envision as a business owner between what it is today, before you start your business, and the next 10 years.
The Bottom Line
Here’s what I want you to remember: you don’t have to sacrifice your life to build a successful business. In fact, the best businesses are the ones that actually enhance your life and make it richer.
The LIFE+ framework isn’t just some fancy business theory gathering dust on a shelf. It’s a practical tool that helps you make sure you’re building something that truly serves you and your goals.
So before you jump into your next business venture, take a step back and ask yourself: “Will this help me live the life I actually want?” If the answer is a resounding yes, you’re on the right track. If it’s no, keep looking.
The right opportunity is out there!
That’s why I always tell aspiring business owners: Start with YOU. Get clear on your lifestyle, income needs, work flexibility, equity goals, and personal dreams.
That’s your LIFE+. It’s your filter for choosing the right business. When you know your LIFE+, you stop wasting time on the wrong business ideas and start focusing on the ones that truly fit.
Now that you’ve got clarity on the life you want your business to support, you’re ready for the next exciting step in our journey together.
In step 4 of 8, we’ll explore your possible paths to business ownership and help you determine what’s right for you.
Should you buy an existing business, develop a franchise, or build one from scratch? Each path has its own advantages, and we’ll help you figure out which one aligns best with you and your LIFE+ goals.
Stay tuned! You’ve got this — and you don’t have to figure it out alone!
Patricia Bottero, MBA
Founder | OPEN for BUSINESS Lab
Helping freedom-seekers turn their “why” into a profitable business for a life they love.
pb@openforbusinesslab.com
https://www.linkedin.com/in/patriciabottero/
P.S. Know someone who’s also dreaming of ditching their job for a business of their own? 
Forward this article to them — it might help them avoid a big mistake before they make it.
P.S.S. Want help figuring out your LIFE+?
Download the free guide, The Burned-Out Employee’s Guide to Escaping the Job Grind, and get clear on the kind of life you want — before you pick the business to get you there. 
Download the FREE Guide Here
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