Money Won't Keep You Motivated
(2 min read)
Mel Robbins, a speaker, author, and creator of the 5-Second Rule, says motivation is garbage, and I generally agree.
Motivation works all the way until it doesn’t, as I like to say.
And financial motivation, as it turns out, doesn’t work well at all, yet most businesses use it as their primary motivator to succeed.
Dan Ariely, researcher and one of the world’s greatest economists, has conducted experiments on this subject.
He points out that we assume money is our biggest motivator and will ignite drive and persistence, but it doesn’t.
In a study of a group of MIT students, Ariely gave them games that involve creativity, motor skills, and concentration.
Then in reward for performance, he offered them three levels of financial rewards—small, medium, and large. The better they did, the more money they got.
With the tasks that involved basic cognitive skills—when the participants had to get creative and use their mind—the larger financial reward actually led to poorer performance.
Then, just to make sure there wasn’t any cultural bias, Ariely and his team conducted the same experiments in India where the reward was much more valuable with a lower standard of living.
What happened this time?
The people offered the medium level reward did no better than those offered the small reward.
But then the people offered the highest level of reward did the worst of all.
In eight of the nine tasks administered across three experiments, higher incentives led to worse performance.
Ariely proved that there’s a mismatch between what science knows and what businesses do.
Science knows that the secret to high performance isn’t rewards, particularly financial ones…
The secret is in the drive to do things because they matter, and what we do—coaching—really, really matters…
We are changing the world and transforming its consciousness one person at a time.
Coaching is a powerful, life-changing process, and I want you to remember this fact the next time you’re feeling challenged, demotivated, or even down.
Through your ability to overcome fear and serve people powerfully, without waiting until conditions are perfect or you are perfect, you are making a HUGE IMPACT.
And as science has shown, it’s through deliberate remembering of this truth that you will feel more and more motivated to keep going.
As we move into the evening of this month, create the time to pause and reflect on how far you’ve come this year already…
Consider how you’ve shown up and what you’ve learned and maybe the people you’ve connected with…
Pat yourself on the back, and give yourself a high-five….
Smile, and remember that what you’re doing matters and your intention to impact the world is so beautiful…
Because that, my friends, is what life is about.
Here to serve,