The Top Lifestyle Entrepreneurship Trends Of 2023
Written by: Hanna Hermanson, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
These days, it’s not just about the money. I mean, let’s be honest – money is very nice. But happiness and fulfillment? Doing something you love? That’s the ticket. And for many of us, that little life lesson was learned the hard way. But whether or not you can say: “I quit my Corporate job!”…lifestyle entrepreneurship is catching fire (with nearly 582 million of us!). Because the reality of building a career around the life you want to lead (rather than the other way around) is hawt stuff! Especially for personal development junkies who worship the ground that Tim Ferris walks on. The average lifestyle entrepreneur makes about $64,000 per year. But when done right…with a focus on emerging trends that are quickly building momentum... happiness, AND financial abundance can go hand in hand! So if you’re ready to fully embrace lifestyle entrepreneurship for the long haul, read on, my friend! Because you’re about to get the inside scoop on the TOP TRENDS that will shape the world of lifestyle entrepreneurship, for the next decade (and beyond)!
The Biggest Trends in Lifestyle Entrepreneurship Explained
Just looking for the sparknotes? I’ve got you covered:
Now, let’s take a deep dive into each idea!
1. Continued growth of online and digital businesses
Thanks to the pandemic, the shift towards digital commerce is BIGGER than ever – and many businesses have been forced to adapt to this new reality. I’m willing to bet that even your grandma has made one or two online purchases, since 2020. As a result, we're likely to see even more entrepreneurs focusing on creating online and digital businesses. Dot coms and digital nomads for the win!
2. Increased focus on mental health
The pandemic also had a huge impact on the world’s awareness of mental health issues. Entrepreneurs who can create products and services that help people manage stress and anxiety are likely to be in high demand. While the percentage of U.S. adults receiving mental health treatment increased from 19.2% in 2019 to 21.6% in 2021, 42% of US adults with a diagnosable condition reported in 2023 that they could not afford to access the treatment they needed.
3. Focus on sustainability and social responsibility
We’ve all wrapped our heads around Reduce-Reuse-Reycle – but these days, consumers are becoming increasingly conscious about the impact of their purchases on the environment and society. Entrepreneurs who can demonstrate a commitment to sustainability and social responsibility are likely to be more successful in the next era of entrepreneurship.
4. Increased use of artificial intelligence and automation
As AI technology continues to advance, we're likely to see more entrepreneurs incorporating it into their businesses. AI can help businesses automate processes, analyze data, and make more informed decisions. Dr. Nathan Wilson, co-founder and CTO of Nara Logics, said he sees AI on the cusp of revolutionizing familiar activities like dining. Wilson predicted that AI could be used by a restaurant to decide which music to play based on the interests of the guests in attendance. Wild, right?!?
5. Use of virtual reality and augmented reality
Virtual reality and augmented reality technologies are becoming increasingly advanced…and entrepreneurs
who can create products and services that utilize these technologies are likely to be successful. Some e-commerce shops today are utilizing this technology to build lead magnets and allow their shoppers to get a better sense of what the product will be like in person by exploring it virtually first. I mean…can you imagine being able to (virtually) sit in the poolside cabana BEFORE saying “yes” to a mastermind retreat?!?
6. Rise of niche markets
With more and more competition in most entrepreneurial industries, many are finding success by targeting niche markets. By focusing on specific needs or interests, entrepreneurs can create products and services that stand out from the competition. It’s not about how wide you can cast your net – it’s about how targeted your offer is, in the first place, in order to capture the EXACT right clientele.
So Embrace Lifestyle Entrepreneurship For Yourself!
It’s official! – the future of lifestyle entrepreneurship is FILLED with opportunities for those who are willing to embrace the trends that lie ahead. The rewards of doing something you love, creating something unique, and making a positive impact on the world can be EXACTLY what the doctor ordered. And there is plenty of money to made, when you do it right! So…if you’re ready to take the plunge and pursue a lifestyle entrepreneurship venture, NOW is the time to jump in, and ride the wave!
Curious about learning more, when it comes to lifestyle entrepreneurship? Jump on over to The Feminine Marketing Show, with yours truly! I’ve helped hundreds of coaches attract clients (without burning out!). So, if you’re a life coach who is tired of the marketing jostle, you’re in the right place! Join us each week, as we explore: feminine marketing strategies, growing your team, infusing joy/ease into every element of yoru business, and living in your zone of genius!
Hanna Hermanson, Executive Contributor Brainz Magazine
Hanna Hermanson is the founder and CEO of Done for You Copywriting for Coaches. As a life and business coach for years, Hanna gained deep insights and intuitive knowledge about what motivates people to take action. Hanna and her team of expert copywriters combine these insights with creative copy strategies to scale coaching businesses and help transformational leaders get back into their zone of genius. Hanna's work can be found in Forbes, Thrive Global, and her book “Dream Life is Real Life” on Amazon.
When she’s not writing or strategizing, she can be found carbo-loading for half marathons or frolicking on the beaches of Mexico with her husband and labradoodle.
