New survey shows people defining success in other ways
Economic achievement and wealth has long been paired with aspirations of attaining the American Dream. But in today’s ever-changing economic landscape, Americans are defining new parameters for success. A recent survey conducted by GoDaddy survey asked over 1,000 small business owners in the U.S. what their version of the American Dream was. 54% defined it as “feeling happy in life” while 49% said it involved the “freedom to follow my passions.”
56% of the respondents still reported that money was a motivator, but roughly three-quarters of respondents said that their definition has changed since they were a kid.
Historically, owning a home was an indicator of achieving the American Dream. With economic conditions continuing to get worse for the new generations of home-buyers, they’ve had to redefine their terms of success.
“The American Dream is changing, according to small-business owners,” says Fara Howard, GoDaddy’s chief marketing officer. “Economic conditions have resulted in homeownership being less attainable, particularly for members of Gen Z, while the pandemic and the Great Resignation have driven many to prize being their own boss and gaining more freedom, comfort, and flexibility.”
As economic conditions worsen and new ideals of the American Dream are being constructed, survey respondents said that lack of access to technology, education and affordable health care still stand as barriers to achieving their goals. Despite these barriers, 62% said that they feel “very confident” that they will avail.
“American small-business owners are thinking beyond revenue and sales growth when they consider what the American Dream means to them,” says Howard. “Today, it’s more about feeling a sense of belonging, freedom, happiness and work-life balance.”
Source: CNBC