Why Entrepreneurs need to stop bashing Hourly Employees...

I get it. Everyone's trying to sell you something. Some are just trying to inspire you and some are trying to do both. I get the message, I've heard it loud and clear from every podcast, webinar and Facebook Ad, "Stop trading hours for dollars. Earn passive income. Don't work for a boss. Be your own boss. Gain financial freedom..."

Hear me loud and clear, I'm not against advocating that people who have an entrepreneurial spirit should go out and pursue it. I'm an entrepreneur myself and I've not only received that encouragement and advice from others but I've given it to others many times myself.

What I'm against is the idea that anyone who trades hours for dollars is a "loser" (implied). If you work for a "boss" you're second class, and not living up to your potential. I hate that. Here's two reasons why: 1) Not everyone was meant to be an entrepreneur, not everyone wants it or has the skills to run their own company and 2) If you take that approach, unless you plan on being a solopreneur for the rest of your life, you've just insulted everyone who will ever work for you. Think about that for a moment...

Most of the world trades dollars for hours. It's a noble way to provide for their families. There's nothing wrong with that. It's admirable. Those of us who have the privilege and opportunity to earn residual income have an elevated responsibility to the world. Because we can do what others cannot, we should do what others cannot do as well.

We must use our increase to take care of those who are unable to care for themselves: to fund orphanages, give to charities, support those in need, who are down on their luck or going through difficult times. Those who earn passive income should never, ever look down on those who do not. It's the kind of pride and hubris that makes us terrible human beings, not better ones.

"You have the mindset of a leader when you consider privilege a responsibility and responsibility a privilege." -SD

I have employees and contractors who work for me. I provide them lots of freedom and autonomy, I treat and pay them well. They do great work and they're loyal. They're not second class because they're unable or unwilling to quit and go start their own company. In fact I would be devastated if they did.

I get that it's a tactic, try to motivate someone to become an entrepreneur by goading them. And if they're meant to be an entrepreneur, by all means they should. Similarly, any employee who works in an unhealthy environment should consider looking for a new job. You can find a better place to work without having to start your own company.

Instead, why don't you consider creating a company where other people want to work? Being the kind of boss that other people are excited to work for? Create an environment and culture of freedom, trust, autonomy and shared responsibility where other people can thrive?

Consider this, 30% of new businesses fail in the first two years and over 50% fail in the first 5. So going out and starting your own company isn't a guaranteed success that will leave you fulfilled in your newfound freedom. It's just as likely to find you back on the street looking for your next job. Does that sound like financial freedom? I don't think so...

Here's the rub: real results come from real work. Period. Someone has to do it. What kind of a leader are you if in your claim of "working smarter, not harder" you hire other people to do all the "real work" and sit around enjoying the privilege and the profits? What kind of an example are you setting? I'm not saying that you shouldn't be able to enjoy the fruit of your success, but it's important to remember to never gloat and always act with humility.

"This, then, is held to be the duty of the man of Wealth: First, to set an example of modest, unostentatious living, shunning display or extravagance; to provide moderately for the legitimate wants of those dependent upon him" - Andrew Carnegie

I know lots of people who have made passive income their life goal. To me that's kind of sad. What's your purpose? What significance do you hope to have in the world? The answer is always the same, "When I have unlimited income I can do whatever I want." But I rarely see those same people living out purpose-filled lives. More often than not, they're looking at more ways they can "make their money work for them" instead of "working for their money." Their goal is to retire early, quit their job, sit on a beach and do... nothing.

If you offered to pay me $1 million a year to sit on my hands, I wouldn't do it. I couldn't sacrifice my purpose, the hard work that I put in to create useful things that other people can use to make their lives better. Money just doesn't mean that much to me beyond being able to provide for my family and the people around me.

So here's the question: What's your goal? Is it to make passive income, or is it to make a difference? Which one will you always sacrifice for the other, because I guarantee when things come to a head you'll always choose one; the one you love the most. Pursue your passions, start a company, quit your job, find a new one or stay at your current one. But whatever you do, be significant. Do something others will admire you for when you've passed away. Because you can't take passive income with you... and you'll only be remembered for what you did, not what you had.

-SD