{"id":6683,"date":"2014-05-24T09:39:05","date_gmt":"2014-05-24T13:39:05","guid":{"rendered":"http:\/\/blog.fitnyc.edu\/hottopicsinsider\/?p=6683"},"modified":"2020-01-21T18:56:33","modified_gmt":"2020-01-21T22:56:33","slug":"lifestyle-companiesare-we-the-99","status":"publish","type":"post","link":"https:\/\/blog.fitnyc.edu\/hottopicsinsider\/2014\/05\/24\/lifestyle-companiesare-we-the-99\/","title":{"rendered":"Lifestyle companies\u2026are we the 99%?"},"content":{"rendered":"
Lifestyle companies are, as partially defined by Wikipedia, businesses that are established and run by their founders with the primary aim of sustaining the founder and, secondarily, those who work for the founder.\u00a0 Wikipedia says that the lifestyle owner wants to sustain a specific level of income that will give the owner a basis on which to live a particular lifestyle.\u00a0 I think the definition is broader than that though. \u00a0A New York Times article offers other definitions: http:\/\/boss.blogs.nytimes.com\/2011\/01\/24\/is-the-term-lifestyle-business-an-insult\/?_php=true&_type=blogs&_r=0<\/a>.\u00a0 And here\u2019s another question: at what point is a lifestyle company called a privately held company (one that does not have shareholders, or does an IPO)?\u00a0 \u00a0Mary Sullivan, a blogger, offers still another point of view on the subject:\u00a0 http:\/\/www.allbusiness.com\/business-planning-structures\/starting-a-business\/3878259-1.html<\/a><\/div>\n
I also believe that lifestyle companies make up a large percentage of the tax base\u2026after all, lifestyle companies don\u2019t have lobbyists or have the kind of money it takes to wield enough power to get tax breaks for themselves.<\/div>\n
As I\u2019ve written about Natori, lifestyle, or privately held, companies have the advantage of being able to dictate exactly what the owners want to do with it.\u00a0 This includes sustaining a high level of quality, ethics, etc. For fashion designers and others, this is important \u2013 it\u2019s directly related to the owner\u2019s vision. \u00a0I\u2019ve seen lifestyle owners customize their products for clients \u2013 still another advantage. \u00a0Lifestyle companies also offer the owner the potential for a lot of individual freedom and flexibility in their lives.\u00a0 Most companies who I come in contact with at the entrepreneur and other courses \u00a0I\u2019m involved with (Fast Trac at Levin Institute, Licensing and Design Entrepreneurs NYC Mini-MBA program at FIT) and mentoring (Lang School of Entrepreneurship at Columbia University and Philadelphia Fashion Incubator), are lifestyle companies.<\/div>\n
So while lifestyle companies are portrayed as \u201cunglamourous\u201d in the press and in certain communities, like Silicon Valley, Silicon Alley and the Route 128 corridor, they can often be a wise business decision and a road to success for the entrepreneur.\u00a0 Here are some other opinions along the same lines.<\/div>\n
http:\/\/www.forbes.com\/sites\/theyec\/2012\/09\/21\/7-reasons-most-people-should-build-lifestyle-businesses-not-startups\/<\/a><\/div>\n
http:\/\/www.washingtonpost.com\/national\/on-innovations\/dont-get-tangled-in-the-ipo-yarn\/2012\/06\/11\/gJQARtb4UV_story.html#.T_nk1C5E5Ag.twitter<\/a><\/div>\n
What\u2019s your opinion?<\/div>\n
#lifestylecompany #startups #entrepreneurs #lifestylebusiness<\/div>\n
<\/div>\n

Sandra Holtzman teaches CEO 035: Licensing<\/a>.<\/em><\/strong>
\nShe is the author of Lies Startups Tell Themselves to Avoid Marketing<\/a>.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Lifestyle companies are, as partially defined by Wikipedia, businesses that are established and run by their founders with the primary aim of sustaining the founder and, secondarily, those who work for the founder.\u00a0 Wikipedia says that the lifestyle owner wants to sustain a specific level […]<\/p>\n","protected":false},"author":266,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"post-templates\/post-middle-column.php","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[8577],"tags":[8576,32788,32787,32786,32785,38568,8660],"class_list":["post-6683","post","type-post","status-publish","format-standard","hentry","category-small-business","tag-entrepreneurs","tag-lifestyle-business","tag-lifestyle-company","tag-lifestylebusiness","tag-lifestylecompany","tag-small-business","tag-startups"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p1v7EM-1JN","_links":{"self":[{"href":"https:\/\/blog.fitnyc.edu\/hottopicsinsider\/wp-json\/wp\/v2\/posts\/6683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.fitnyc.edu\/hottopicsinsider\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.fitnyc.edu\/hottopicsinsider\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.fitnyc.edu\/hottopicsinsider\/wp-json\/wp\/v2\/users\/266"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.fitnyc.edu\/hottopicsinsider\/wp-json\/wp\/v2\/comments?post=6683"}],"version-history":[{"count":0,"href":"https:\/\/blog.fitnyc.edu\/hottopicsinsider\/wp-json\/wp\/v2\/posts\/6683\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.fitnyc.edu\/hottopicsinsider\/wp-json\/wp\/v2\/media?parent=6683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.fitnyc.edu\/hottopicsinsider\/wp-json\/wp\/v2\/categories?post=6683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.fitnyc.edu\/hottopicsinsider\/wp-json\/wp\/v2\/tags?post=6683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}