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Lifestyle Business
A lifestyle business (also referred to as a lifestyle venture) is a business set up and run by its founders primarily with the aim of living or maintaining a certain lifestyle. It's meant to be a business which adjusts to the lifestyle - so that the founder can live their life as they like (and oftentimes already do). Some types of enterprise are more accessible than others to the would-be lifestyle business person. Those requiring extensive capital (for example: car manufacturing) are difficult to launch and sustain on a lifestyle basis; others such as small creative industries businesses are more practical for sole practitioners or small groups such as husband-and-wife teams. Lifestyle businesses typically have limited scalability and potential for growth because such growth would destroy the lifestyle for which their owner-managers set them up. However, lifestyle businesses can and do win awards and provide satisfaction to their owners and customers. If sufficient high-quality ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lifestyle (sociology)
Lifestyle is the interests, opinions, behaviours, and behavioural orientations of an individual, group, or culture. The term was introduced by Austrian psychologist Alfred Adler in his 1929 book, ''The Case of Miss R.'', with the meaning of "a person's basic character as established early in childhood". The broader sense of lifestyle as a "way or style of living" has been documented since 1961. Lifestyle is a combination of determining intangible or tangible factors. Tangible factors relate specifically to demographic variables, i.e. an individual's demographic profile, whereas intangible factors concern the psychological aspects of an individual such as personal values, preferences, and outlooks. A rural environment has different lifestyles compared to an urban metropolis. Location is important even within an urban scope. The nature of the neighborhood in which a person resides affects the set of lifestyles available to that person due to differences between various neighborhoods ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business
Business is the practice of making one's living or making money by producing or Trade, buying and selling Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation or cooperative. Corporations, in contrast with Sole proprietorship, sole proprietors and partnerships, are a separate legal entity and provide limited liability for their owners/members, as well as being su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manufacturing
Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. The term may refer to a range of human activity, from handicraft to high-tech, but it is most commonly applied to industrial design, in which raw materials from the primary sector are transformed into finished goods on a large scale. Such goods may be sold to other manufacturers for the production of other more complex products (such as aircraft, household appliances, furniture, sports equipment or automobiles), or distributed via the tertiary industry to end users and consumers (usually through wholesalers, who in turn sell to retailers, who then sell them to individual customers). Manufacturing engineering is the field of engineering that designs and optimizes the manufacturing process, or the steps through which raw materials are transformed into a final p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scalability
Scalability is the property of a system to handle a growing amount of work by adding resources to the system. In an economic context, a scalable business model implies that a company can increase sales given increased resources. For example, a package delivery system is scalable because more packages can be delivered by adding more delivery vehicles. However, if all packages had to first pass through a single warehouse for sorting, the system would not be as scalable, because one warehouse can handle only a limited number of packages. In computing, scalability is a characteristic of computers, networks, algorithms, networking protocols, programs and applications. An example is a search engine, which must support increasing numbers of users, and the number of topics it indexes. Webscale is a computer architectural approach that brings the capabilities of large-scale cloud computing companies into enterprise data centers. In mathematics, scalability mostly refers to closure u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customers
In sales, commerce, and economics, a customer (sometimes known as a client, buyer, or purchaser) is the recipient of a good, service, product or an idea - obtained from a seller, vendor, or supplier via a financial transaction or exchange for money or some other valuable consideration. Etymology and terminology Early societies relied on a gift economy based on favours. Later, as commerce developed, less permanent human relations were formed, depending more on transitory needs rather than enduring social desires. Customers are generally said to be the purchasers of goods and services, while clients are those who receive personalized advice and solutions. Although such distinctions have no contemporary semantic weight, agencies such as law firms, film studios, and health care providers tend to prefer ''client'', while grocery stores, banks, and restaurants tend to prefer ''customer'' instead. Clients The term client is derived from Latin ''clients'' or ''care'' meaning "to incl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brighton
Brighton () is a seaside resort and one of the two main areas of the City of Brighton and Hove in the county of East Sussex, England. It is located south of London. Archaeological evidence of settlement in the area dates back to the Bronze Age, Roman and Anglo-Saxon periods. The ancient settlement of "Brighthelmstone" was documented in the ''Domesday Book'' (1086). The town's importance grew in the Middle Ages as the Old Town developed, but it languished in the early modern period, affected by foreign attacks, storms, a suffering economy and a declining population. Brighton began to attract more visitors following improved road transport to London and becoming a boarding point for boats travelling to France. The town also developed in popularity as a health resort for sea bathing as a purported cure for illnesses. In the Georgian era, Brighton developed as a highly fashionable seaside resort, encouraged by the patronage of the Prince Regent, later King George IV, who spent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Porter's Cluster
A business cluster is a geographic concentration of interconnected businesses, suppliers, and associated institutions in a particular field. Clusters are considered to increase the productivity with which companies can compete, nationally and globally. Accounting is a part of the business cluster. In urban studies, the term agglomeration is used.Porter, M. E. 1998, Clusters and the new economics of competition, Harvard Business Review, Nov/Dec98, Vol. 76 Issue 6, p77, Clusters are also important aspects of strategic management. Concept The term business cluster, also known as an industry cluster, competitive cluster, or Porterian cluster, was introduced and popularized by Michael Porter in ''The Competitive Advantage of Nations'' (1990). The importance of economic geography, or more correctly geographical economics, was also brought to attention by Paul Krugman in ''Geography and Trade'' (1991). Cluster development has since become a focus for many government programs. The under ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tim Ferriss
Timothy Ferriss (born July 20, 1977) is an American entrepreneur, investor, author, podcaster, and lifestyle guru. He became well-known through his ''4-Hour'' self-help book series—including ''The 4-Hour Work Week'', ''The 4-Hour Body'', and ''The 4-Hour Chef''—that focused on lifestyle optimizations, but he has since reconsidered this approach. Early life Ferriss grew up in East Hampton, New York. Throughout childhood, Ferriss experienced poor health, sparking an interest in self-improvement. After graduating from St. Paul's School, Ferriss matriculated at Princeton University, earning a B.A. in East Asian studies in 2000. His senior thesis was titled ''Acquisition of Japanese Kanji: Conventional Practice and Mnemonic Supplementation'', under the supervision of Seiichi Makino. After graduating from Princeton, Ferriss worked in sales at a data storage company. Career In 2001, Ferriss founded BrainQUICKEN, an internet-based nutritional supplements business, while still emplo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The 4-Hour Workweek
''The 4-Hour Workweek: Escape 9–5, Live Anywhere, and Join the New Rich'' (2007) is a self-help book by Timothy Ferriss, an American writer, educational activist, and entrepreneur. It deals with what Ferriss refers to as "lifestyle design", and repudiates the traditional "deferred" life plan in which people work grueling hours and take few vacations for decades and save money in order to relax after retirement. The book spent four years on ''The New York Times'' Best Seller List, was translated into 40 languages, and sold around 2.1 million copies. Background Ferriss developed the ideas present in ''The 4-Hour Workweek'' (4HWW) while working 14-hour days at his sports nutrition supplement company, BrainQUICKEN. Frustrated by the overwork and lack of free time, Ferriss took a 3-week sabbatical to Europe. During that time and continued travels throughout Europe, Asia, and South America, Ferriss developed a streamlined system of checking email once per day and outsourcing small d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Passive Income
Passive income is unearned income that is acquired automatically with minimal labor to earn or maintain. It is often combined with another source of income, such as a side job. In the United States, the IRS divides income into three categories: active income, passive income, and portfolio income. Passive income, as an acquired income, is the result of capital growth or is related to the tax deduction mechanism, and is taxable. It is called progressive passive income when the earner expends little effort to grow the income. Examples of passive income include rental income and business activities in which the earner does not materially participate. Some jurisdictions' taxing authorities, such as the Internal Revenue Service in the United States of America, distinguish passive income from other forms of income, such as earnings from regular or contractual employment, and may tax it differently. It can take a long period of work and accumulation before passive income can be earned ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Startup
A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship refers to all new businesses, including self-employment and businesses that never intend to become registered, startups refer to new businesses that intend to grow large beyond the solo founder. At the beginning, startups face high uncertainty and have high rates of failure, but a minority of them do go on to be successful and influential.Erin Griffith (2014)Why startups fail, according to their founders Fortune.com, 25 September 2014; accessed 27 October 2017 Actions Startups typically begin by a founder (solo-founder) or co-founders who have a way to solve a problem. The founder of a startup will begin market validation by problem interview, solution interview, and building a minimum viable product (MVP), i.e. a prototype, to develop and validate their business models. The startup process can take a long period of time (by so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
