😫 Why You Struggle to Get Things Done #businesshacks #efficiencytips #smallbusiness

13 Mar 2024 · 0 min

Watch on YouTube

0:27

In this short business‑productivity video, the speaker explains that many entrepreneurs fail to complete large, important tasks because of hyperbolic discounting – the tendency to over‑value immediate, small rewards and undervalue distant, larger ones. Entrepreneurs set ambitious goals (e.g., calling 15 new prospects) but the payoff feels far away, leading them to seek quick dopamine hits like checking email. The video proposes a practical fix: break the big goal into smaller, concrete steps and pair each step with a brief, enjoyable reward (e.g., a five‑minute social‑media break after each prospect call). This “reward chunking” aligns short‑term incentives with long‑term objectives, helping entrepreneurs maintain momentum and actually get things done.

Want to know why entrepreneurs struggle getting the big things done? It's because of hyperbolic discounting. Here's how it works and how to overcome it. Most entrepreneurs set big goals for themselves, calling 15 new prospects to get business. It's too far away, too big, too overwhelming. The rewards way out. So instead, we check email every few minutes to see what's going on. Quick rewards every time a new email arrives. But nothing's getting done. So set a big goal, but give yourself rewards throughout. Maybe every phone call you make to a prospect, reward yourself with a five minute social media break. Boom.