Good now or great later?
Hyperbolic Discounting is a psychological bias where people prioritize immediate rewards (which are lesser rewards) and satisfaction over future rewards (which are often larger awards).
This bias explains why we do things that are not in our long term best interest.
Lets take our diet. It is really easy to eat the bacon cheese burger and fries today instead of the salad. Assuming it is not a bacon cheese burger salad:) it is a safe bet that the salad will pay health dividends in the future. The problem is the bacon cheese burger pays massive taste dividends now.
Or let's talk how we spend our time. The mind numbing act of scrolling tik tok vs reading a book. We all know which 'feels' better tonight. And we also know which brings more long term value. We logically know that tik tok is empty calories and a book is a 'super food'...and yet we often fail to actually choose the one with long term value.
What decisions are you consistently making that takes the immediate lesser rewards over the delayed greater rewards?
Evaluate that question in these categories:
- How we use our time
- Health
- Job
- Family/Relationships
- Spiritually
- Personal Growth
Pick one area that you know you need to change your choices from short term to long term and make that change today! Your future self will be grateful to your current self.
Click here to order my book The Leadership Greenhouse
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One of my weekly disciplines is scouring the internet for articles/tweets I can learn from and/or use with those I work with. Below are two that I hope help encourage and equip you.
Article 1- One of the greats talks about being flexible as a leader.
Article 2- Ritualize to actualize
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