34. Building a Lifestyle Business You Love with Lee LeFever

                 

Entrepreneur Lee LeFever shares his experience of building a scalable, product-focused business, while never compromising on quality of life. Lee and his wife, Sachi, responded to the promise of the internet by building a home-based business, Common Craft, that was profitable yet small enough to pivot and innovate. Common Craft was likely the first company to create explainer videos which have become a common marketing and sales tool for businesses worldwide.

Lee takes us through the multiple business models they pursued―marketplace, digital product licensing, subscription services, distribution partnerships, and more. We also chat about how you, too, can build a lightweight business that supports a life you love. His new book, Big Enough, is a must-read for anyone interested in entrepreneurship, business strategy, and e-commerce. Big Enough arms you with insights into how technology and innovation are changing the face of business―and how the science of happiness and the pursuit of values can help redefine what it means to be successful. Listen to my awesome conversation with Lee! ~ Pia

About Lee LeFever

Lee LeFever is the co-founder of Common Craft and author of two books, Big Enough and The Art of Explanation, which have been translated into eight languages. Since 2007, Common Craft has won numerous awards, created explanations for the world’s most respected brands, and created explainer videos that have earned over 50 million online video views.

Today, Common Craft produces educational guides, ready-made videos and visuals that are used by educators in over 50 countries. Lee and his wife, Sachi, are Common Craft’s only employees.

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Highlights from the Conversation

  • Welcome to episode 34!
  • Lee is back to talk about his new book, Big Enough, geared towards entrepreneurs who are tired of the hustle and want something better!
  • Lee shares the story of what inspired him to start his business, Common Craft.
  • His video business doesn’t operate conventionally but does fit his lifestyle.
  • We have more information coming at us than ever before, and the need for clarity is paramount.
  • How big does your business have to be to be “Big Enough?”
  • A lifestyle business can be established using constraints and creative business models.
  • You don’t have to trade your happiness and health to have a successful business.
  • Lee explains how to initially approach designing a lifestyle business.
  • Things can take a while to develop and it’s important to stick to it, give it time.
  • Lee unpacks the strategy of using constraints to inform your strategy.
  • You can partner with your competition to grow your niche.
  • Entrepreneurs can be overly optimistic, it’s good to focus on realistic expectations and outcomes.
  • When trying to be productive, try not to “multi-task.”
  • Lee’s next project, Build Liveable. How to build a custom home, work with contractors, and more.
  • The inspiration for the Big Enough book and how to learn more about it!

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