Author here. For us it means optimizing for happiness instead of profit. More practically speaking what we do is ensuring everyone has a sufficient base salary, but then also participates in a quarterly bonus program (profit sharing). But the key is actually that everyone can work from wherever they want and as much as they want (as long as it is properly planned in advance). And then on top of that we organize fun retreats like spending a month in Cape Town or Martinique, or going skiing together in Austria or just a few days ago we went together to the Italian Alps for a week of hiking.
So this is what lifestyle business means for us: having a good time with great people.