Ep.168 – Ayelet Fischbach – The Science of Motivation and Strategies to Help You Achieve Your Purpose
Have you ever set a goal and wondered why is this really important to me? Or did you set an objective and lose your motivation while trying to achieve it?
I welcome back to the show Professor Ayelet Fishbach, Eric J. Gleacher Distinguished Service Professor of Behavioral Science and Marketing at the University of Chicago. Ayelet is a motivation scientist and author of Get it Done: Surprising Lessons from the Science of Motivation. Ayelet is also known as the godmother of motivation!
Ayelet sheds light on the low correlation between wealth, happiness, and success and emphasizes the importance of knowledge over sheer willpower. We discuss the role of situational awareness and the art of reframing to navigate obstacles and stay on track with your goals.
Throughout the conversation, Ayelet shares actionable strategies for reframing discomfort as growth, anticipating obstacles, and continuously refining our understanding of what drives us. Whether you're facing financial decisions or personal growth challenges, we identify strategies to help you align your goals with your life's purpose.
Please enjoy my conversation with Professor Ayelet Fishbach.
Connect with Paul
Contact Paul here or schedule a time to meet with Paul here.
Follow Paul on LinkedIn, Instagram, and Facebook.
And feel free to email Paul at pfenner@tammacapital.com with any feedback, questions, or ideas for future guests and topics.
ADDITIONAL RESOURCES YOU MAY LIKE
1 Big Idea to Think About
Recognizing and understanding obstacles can significantly enhance goal setting and achievement, as it allows for better planning and resilience in the face of challenges.
1 Way You Can Apply This
To make financial planning more enjoyable and sustainable, try temptation bundling—pairing a necessary task with a pleasurable activity. For instance, if staying motivated to budget is challenging, set aside time each week to review finances while listening to your favorite podcast or enjoying a relaxing beverage. This approach not only makes the process more enjoyable but also builds intrinsic motivation, helping you stick with your plan and move closer to your financial goals while enhancing personal fulfillment.
1 Question to Ask
What are my most important personal and professional goals, and how can I anticipate and plan for the obstacles that might hinder my progress?
Key Moments From the Show
04:12 Paul Fenner welcomes Ayelet Fishbach back and discusses the significance of connecting with guests before recordings.
06:25 Mention of Ayelet's book "Get It Done" and how it is reread annually by Paul.
08:43 Discussion on motivation and change, highlighting its relevance to families experiencing job transitions.
11:30 Ayelet points out that low workplace motivation leads to frequent job changes and dissatisfaction.
13:57 Explanation of three basic needs at work: financial security, social connections, and personal growth or meaningful work.
16:21 Paul likens motivation to a muscle and Ayelet explains why motivation doesn’t function this way, referencing the marshmallow test.
19:45 Introduction of the Gold Gradient Effect and Fresh Start Effect in maintaining motivation.
22:18 Temptation Bundling: How combining enjoyable elements with less appealing tasks increases intrinsic motivation.
25:33 Setting objectives and goals, emphasizing the importance of a strong sense of purpose.
28:04 Role of a professor in maintaining engagement and fulfillment through continuous learning.
31:15 Discussion on the low correlation between wealth/happiness and success, highlighting the importance of knowledge over willpower.
34:28 Paul inquires about how individuals can learn to reframe situations and increase situational awareness.
36:50 Strategy of seeing discomfort as an opportunity for growth, supported by a study with Second City.
40:02 Obstacles as representations of conflicting desires and how this balance affects goal achievement.
43:15 Identifying goals and potential obstacles to enable better planning and strategy formulation.
46:00 Importance of setting goals for evaluating progress and managing life’s uncertainties.
48:57 "Middle Problem" in goal achievement and how to maintain motivation during the middle phase.
52:25 Strategies like temptation bundling to help with long-term goals such as financial stability.
Resources Featured in This Episode:
Surprising Lessons from the Science of Motivation
How to set the right goals and stay motivated