I have a Dream
The Idealist Economist
By Sojourner on 11-23-2007
What is the price of ideals and dreams? In a recent meeting with a group of novice women entrepreneurs, I began contemplating this question. Many of these women had built very successful careers as financial advisors, stock-brokers, marketing executives, educators, and other high-earning but stable professions. Nevertheless, all of them told a similar story of the need to seek greater meaning in their work and the deep desire to fulfill their dreams. They were tired of hanging onto the mundane job that had stifled their creativity. They longed for purpose and meaning. As a result, many of them quit their secured jobs and took the risk of launching their own business. All of them are now doing something completely different from their original job. Their businesses range across making hand-embroidered baby blankets, antique jewelry-making, operating a pet-sitting business, online retail stores or career counseling.
While the ideals are lofty, the stories are often not very rosy. For many of them, even a few years after launching their business, their companies are still struggling financially. They are drawing down on their savings and they are using their personal resources to support themselves and their business. These women would no doubt have earned much more even if they have continued in their previous field on a part-time basis. They could have capitalized on the skills and experiences that they had originally accumulated by serving as consultants. But many of them decided to put their full time and energy into their own entrepreneurial pursuits. The adversity and setbacks are many. They told of stories of loneliness, as well as lack of support, misunderstanding, and even ridicule from family and friends. In addition, they had to handle all the issues and problems of running the business. For an analytical mind, this is completely insane and irrational. To an economist, this may even be characterized as an inefficient use of resources and completely contrary to cost-benefit analysis. But to these women entrepreneurs, the financial losses, pain, and hardship are worth it! Everything boils down to the value of their dreams. When you listen to their stories, it is clear that their dreams have a life of their own. Dreams motivate them, in addition to offering them infectious excitement and passion for life. Dreams are linked to self-actualization and are intricately connected to their personal identities. These dreams have been tugging at their hearts’ strings.
The value and high costs of pursuing personal aspirations can be seen not only in business but also in politics and other arenas. The prime example is the influential and pivotal public address "I Have A Dream" by Martin Luther King, Jr. This often quoted speech delivered on the steps of the Lincoln Memorial in Washington, D.C. in 1963 has shaped and spurred the civil rights movement in the United States. Similarly, Nobel Peace Prize winner and long-time anti-apartheid activist, Nelson Mandela, was motivated by his dream and ideals. In 1964, he wrote:
“...I have cherished the ideal of a democratic and free society in which all persons live together in harmony and with equal opportunities. It is an ideal which I hope to live for and to achieve. But if needs be, it is an ideal for which I am prepared to die...”
To each of these individuals, the price of their aspirations and dreams is priceless. In some cases, they even lost their lives to realize their dreams. Their ideals inspired many people to follow their footsteps and changed the course of history. Living in the reality of the daily grind, it is much easier to be a naysayer but is much harder to be the risk-taker. Hence we should consider treating others' dreams with more respect. You never know when you will be talking to the next "Martha Stewart" or "Oprah"!
While the ideals are lofty, the stories are often not very rosy. For many of them, even a few years after launching their business, their companies are still struggling financially. They are drawing down on their savings and they are using their personal resources to support themselves and their business. These women would no doubt have earned much more even if they have continued in their previous field on a part-time basis. They could have capitalized on the skills and experiences that they had originally accumulated by serving as consultants. But many of them decided to put their full time and energy into their own entrepreneurial pursuits. The adversity and setbacks are many. They told of stories of loneliness, as well as lack of support, misunderstanding, and even ridicule from family and friends. In addition, they had to handle all the issues and problems of running the business. For an analytical mind, this is completely insane and irrational. To an economist, this may even be characterized as an inefficient use of resources and completely contrary to cost-benefit analysis. But to these women entrepreneurs, the financial losses, pain, and hardship are worth it! Everything boils down to the value of their dreams. When you listen to their stories, it is clear that their dreams have a life of their own. Dreams motivate them, in addition to offering them infectious excitement and passion for life. Dreams are linked to self-actualization and are intricately connected to their personal identities. These dreams have been tugging at their hearts’ strings.
The value and high costs of pursuing personal aspirations can be seen not only in business but also in politics and other arenas. The prime example is the influential and pivotal public address "I Have A Dream" by Martin Luther King, Jr. This often quoted speech delivered on the steps of the Lincoln Memorial in Washington, D.C. in 1963 has shaped and spurred the civil rights movement in the United States. Similarly, Nobel Peace Prize winner and long-time anti-apartheid activist, Nelson Mandela, was motivated by his dream and ideals. In 1964, he wrote:
“...I have cherished the ideal of a democratic and free society in which all persons live together in harmony and with equal opportunities. It is an ideal which I hope to live for and to achieve. But if needs be, it is an ideal for which I am prepared to die...”
To each of these individuals, the price of their aspirations and dreams is priceless. In some cases, they even lost their lives to realize their dreams. Their ideals inspired many people to follow their footsteps and changed the course of history. Living in the reality of the daily grind, it is much easier to be a naysayer but is much harder to be the risk-taker. Hence we should consider treating others' dreams with more respect. You never know when you will be talking to the next "Martha Stewart" or "Oprah"!
I remember reading about a woman who had started her own business, and it was quite successful. She achieved her dream. However, she was a single mother and tended to spend less than 5 minutes a day talking to her son since she was always working. I wonder about his take on her dream. I'm sure he's proud of her, but I wonder if his feeling of being neglected was outweighed by his admiration of her. She's lived a great example of perserverance, but I'm not so sure she's a good example of balance between work and family.