Success Myths: Success is STABILITY

May 20, 2020

Is obtaining stability still part of the American Dream? Of course, but finding it has dramatically changed. The American Dream has meant different things to different people throughout history.

James Truslow Adams popularized the phrase "American Dream" in his 1931 book Epic of America when he defined it as "that dream of a land in which life should be better and richer and fuller for every man, with opportunity for each according to his ability or achievement." Sounds purposeful to me!

Over the last 50 years, the definition of the American Dream has changed with the generations that sought stability. My father's generation (Baby Boomers) saw stability with a loyal lens. Long-standing careers at the same company were the norm.

My generation (Gen X/older Millenials) has seen a rapid increase in educational and technological advancement that has caused us to see more growth and advancement in our careers. This reality, as well as others, has my generation more job hoppy. Stability no longer means staying with a company for thirty years. In fact, that sounds pretty boring to most my peers.

And now, enter the new generation to the workforce (Gen Z/younger Millenials)! This generation is the most tech-dependent, innovative, and entrepreneurial generation this world has ever seen. Their view of stability is a powerful change agent in the perception of purpose. And the most significant factor in this new view is the Gig Economy.

The Gig Economy is the most accelerating aspect of the labor market. It is comprised of workers doing short term, project, or freelance work. Workers in the Gig Economy could be defined as contractors, freelancers, consultants, and entrepreneurs.

35% of Americans are currently making money in the Gig Economy. I believe that post-Covid we will see that number jump to over half of the American workforce earning some income in the Gig Economy.

It is the new generation of workers leading the charge in the Gig Economy. They are awaking a catalytic giant who is redefining the American Dream. Stability will never be the same. The way we view work and how we view success is the new normal.

The Gig Economy is and will continue to be a significant trend in the pursuit of purpose. Don't sleep on this trend… or you might miss the new American Dream.

Questions to Ponder:

  • How do you define stability?
  • Is your view of the American Dream consistent with previous generations?

Habits to Cultivate:

  • Take the time to consider where you have adopted your view of stability

Stay on top of the Gig Economy movement by listening to our podcast.

We have helped thousands of purpose seekers pivot into new careers. You can do it too. We would love to help guide you. If you are experiencing the stability success myth and are feeling disengaged, get started on your path to purpose.

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