Most business owners talk about growing their companies. In fact, Bank of America’s 2024 Business Owner Report shows that 87% of medium-sized businesses expect to grow.

But here’s the catch: many business owners don’t truly want growth. What they actually want is a good income and a balanced lifestyle.

And guess what? There’s nothing wrong with that.

Your business should be a vehicle to your Ideal Life (as I detail in Buyable: Your Guide to a Self-Managing, Fast-Growing, and High-Profit Business).

If your Ideal Life means spending more time with family, traveling, or pursuing hobbies, then building a growth business might not align with your goals. It’s a long road, and it can delay the lifestyle you desire in the short term.

On the other hand, if your Ideal Life involves creating an impact far greater than what you could achieve on your own, you’ll need leverage—and that’s exactly what a growth business can offer. This starts with defining a clear vision of where you want to go. The Summit Vision™ tool helps business owners articulate that long-term goal, ensuring their growth is intentional and aligned with their personal and professional aspirations.

Lifestyle Business vs. Growth Business

As Michael Gerber famously pointed out: “It’s technicians, not entrepreneurs, who start most businesses.” Many business owners simply want to be better bosses to themselves than their old employers were—offering themselves autonomy and…