When it comes to deciding what direction you should take your next great idea it is helpful to sort out what you want from the startup.

In every case you should be answering that with – revenue. But, also at the top of that list should be your decision of going for VC backing or turning your idea into a lifestyle startup.

A VC backed startup is a different beast than a lifestyle startup.

Lifestyle startups in this case being a business that you start and run to make your living from. The type of startup that you hope to sell for better than $500k so you can float till the next idea comes along or simply a business that dissolves into your next business based on a newer greater idea. It is a two to three year investment of your time that pays dividends closer to a traditional mom and pop type business.

Here are five reasons you should choose a lifestyle startup:

1. You’ve got a lot of passion (read: hard headed)

There’s not much to say about this one.

Being the captain of your own destiny is something that you thrive on and know that the only way you can make this startup work is with your vision.

That, and if someone recommended how to do something differently there might be a physical altercation. You might get to this point if your idea has elements of the next reason.

2. You’re idea is future forward (read: hard to pitch)

At your first pitch to a VC you’re told that you should integrate X service. Of course, X, being the hottest new startup that isn’t even in their portfolio. This is the moment you should realize that your pitch has failed for any number of reasons. On the ride back to the airport you run through the list of variables with friends and realize that idea if solving a future problem. One that is a little farther in the future than you are going to be able to pitch successful for funding. And that’s cool.

Without pulling back the scale of your vision too much, you should look for an opportunity to move forward building it out. Especially, if you got number 3 covered.

3. You can really focus (read: blinded by desire to succeed)

You’re a competitive freak that is only competing with yourself. Really. You might be a laid back person but you’ve got an inner desire to win that could turn a three legged pony into a stakes winner.

This in turn gives you an ability to focus on a business plan or road map with precision. It aids you in your ability to execute at a C-Level all the while handling low level strategy and tactics. This is how you make your startup profitable. That brings me to number 4.

4. You understand physical labor (read: you grew up on or near a farm)

Look – manual labor of the farming variety is enough to skew the tables greatly in comparison to a tech startup. Waking up at 3:30 a.m. to milk and feed cows followed by a day of bailing hay, walking beans or other intense physical labor makes working at a startup a piece of cake. Sure, you’ll be working all the time, just like the farm but you’re going to be using a different set of skills and attributes that aren’t as physically demanding.

However, if you found that this type of physical labor suited you, a lifestyle startup could be for you. See number 5.

5. You need to always be working (read: hobby is job/job is hobby)

You eat, sleep, breathe your idea. When you are in the shower you are solving problems from the night before while you take a huff of your bar soap. You find great satisfaction it the ability to get work done in your down times while you should be relaxing.

I don’t think this one is very healthy, but for many people it is a reality and something that would be difficult for you to change. This behavior is learned or is a mechanism to avert from another issue . . . either way the behavior is ingrained in you and should be embraced as an asset for building a successful lifestyle business.

Lifestyle startups can be very rewarding for those that enjoy having the ability see their ideas blossom. They’re also a great fit for those that aren’t ready to jump into the startup world with both feet. If you’ve got a job or career that can keep you afloat while you dabble with a startup, this one is for you.

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The Lifestyle Startup – 5 Reasons to Do It is a post from: TechStartups.com

Disclaimer: I have founded several startups but none that have taken on VC funding, seed or angel investments. Not that I didn’t try for the one that needed it to grow. For six months earlier this year, without success, a business partner and myself gave it our best shot, traveling around the country chasing dollars.

Save yourself some from agony and travel that befell us and read Mark Suster’s great post over at The SiliconAngle today about VC funding your startup. The post is titled, “Beware of VC Seagulls…“, and goes well beyond smart money vs. dumb money. After a couple of the phone calls we took with VC’s we should have known that meeting face to face would only confirm our suspicions about their character.

Here’s a sample from the first paragraph:

“This is part of my ongoing series Startup Advice.  I write this post as a warning to pick your VC’s carefully.  I like to say to first-time entrepreneurs, picking a VC is more permanent than marriage.  If you pick the wrong spouse at least you can get divorced.”

Suster shares great information in this post about his previous experience in startups (his) and with VC’s (of which he is now one).

I highly recommend this post and the others so far in his series of Startup Advice and his blog Both Sides of the Table [Feed].

Photo credit: (cc) Kenneth Yeung – www.thelettertwo.com

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Shhh . . . Mark Suster Is Speaking About VC’s is a post from: TechStartups.com