Becoming an entrepreneur means forgoing a steady paycheck for a big payoff. Today is Labor Day in the United States and Canada. For those interested in becoming an entreprenuer the day can offer an important lesson.

The day memorializes the achievements of the Labor Movement and was made a national holiday in 1894. For most, the day symbolizes the end of summer and return to school. In addition, many towns have a parade to celebrate the occasion. This is certainly true for my town (Newtown CT) which hosts the largest Labor Day parade in the state.

Why Do We Celebrate Labor Day?

The Labor Movement of the late 19th century was a progressive movement that advanced the prosperity of millions of workers. Through their ability to collectively bargain through the use of strikes and threats of work stoppages labor enforced concessions from companies.

Therefore, we celebrate the day because it symbolizes the aspirations of many working men and women. The labor movement prevents the abuses of capitalism. In addition, it allows countless millions of working families to afford a path into the middle class.

What Does Labor Day Have To Do With Being an Entrepreneur?

As an entrepreneur, I have mixed feelings about Labor Day. I certainly want all hard-working Americans to prosper. However, I am not attracted to the worker mindset of exchanging time for money. This mindset seeks safety in a steady job and good benefits.

While I acknowledge that there is honor in work and by no means would I judge a person for having a job or joining a union. To be frank I had a 20-year career in corporate training. But a steady job is by no means the final answer in prosperity, abundance, and freedom.

Labor Day celebrates collective action which is a fancy way of saying, “if we stick together we can force our demands.” The basis of power for Labor is the strength of the group.

As an entrepreneur, this mindset is a turn-off. Entrepreneurs are individuals who break from the pack and create their own way. The power of an entrepreneur is in the individual and not the collective.

Entrepreneurs don’t want to settle for a steady job, but instead, chase the dream of ultimate success.

In my article What is Success, I outline that there are 4 pillars of success: abundance, freedom, connection, and fulfillment. A steady union job with good benefits does offer a path to limited abundance, but at the cost of freedom and fulfillment.

In Summary

The promise of the Labor Movement is to offer a modicum of prosperity to workers through collective bargaining. The promise of being an entrepreneur is the attainment of ultimate wealth and freedom. Which do you want?

FYI, want to become a digital entrepreneur and make your first 10k online? Attend this webinar by my mentor Stuart Ross.