Winners & Losers
Manoj Chawla
MD @ EasyPeasy Limited, Award winning Transformation & Innovation Guru, C level positions ex Accenture, BT, PWC, Diageo, ICI.
One of the challenges we have in selecting employees, partners, etc is in finding "winners".
We subconsciously understand the value of persistence, commitment, loyalty which all require a long term perspective.
The Winning Mindset
Success in life, whether personal or professional, often hinges on our mindset. A winning mindset isn't just about relentless positivity or unwavering confidence; it's about mastering the balance between impulse control and a long-term perspective. Understanding the interplay between these elements can be the key to unlocking our full potential.
Impulse Control: The First Step to Empowerment
Impulse control is our ability to pause and think before acting. It's what keeps us from making hasty decisions that we might regret later. This doesn't mean we should overanalyze every choice to the point of paralysis, but rather develop a habit of mindful consideration. Think of impulse control as the brain's braking system: it doesn't stop you from moving forward, it just ensures you're traveling in the right direction.
Developing impulse control starts with awareness. Recognize the moments when you're about to make a snap decision based on emotion rather than reason. Take a breath. Give yourself the space to think about the consequences of your actions. Remember, the goal is not to suppress your desires but to align them with your long-term objectives.
Long-Term Perspective: The Vision for Victory
While impulse control is about pausing before action, a long-term perspective is about planning beyond the present moment. It's about setting goals that are not just for today or tomorrow, but for the next month, year, or decade. This doesn't mean ignoring short-term pleasures; rather, it's about recognizing when those pleasures help or hinder your larger goals.
Cultivating a long-term perspective involves setting clear, achievable goals and breaking them down into smaller, manageable tasks. It's about seeing the bigger picture and understanding that every action you take is a step towards (or away from) that ultimate vision. This mindset helps navigate the challenges and setbacks you'll inevitably face, providing a compass to guide you back on course when you stray.
Balancing Act: The Harmony of Now and Later
The winning mindset is about finding the right balance between controlling impulses and focusing on long-term goals. It's about making informed decisions that satisfy immediate needs without derailing future plans. This balance is not static; it shifts with life's changing circumstances and priorities. The key is to remain flexible and adaptable, adjusting your strategies as needed while staying true to your overarching vision.
Impulse control and a long-term perspective are not innate traits but skills that can be developed over time. They require practice, patience, and perseverance. Celebrate the small victories along the way, and learn from the setbacks. Each is a valuable lesson that can help refine your winning mindset.
A winning mindset is not about perfection. It's about striving for a balance that aligns your immediate actions with your future aspirations. By mastering the art of impulse control while maintaining a long-term perspective, you set the stage for sustained success and fulfillment. Embrace the journey, for it is in the pursuit of our goals that we find our true potential
Long Term Success vs Short term Wins
One of the key aspects of success is that it is driven by long term thinking. Factors like Health & Well Being, Finance, Networks & Relationships, Customer Loyalty, Reputation & Brand are all driven by long term thinking. People are prepared to sacrifice (personal) short term gains for long term goals.
Deferred Gratification, Success & Happiness
The connection between deferred gratification, success, and happiness is deeply interwoven and has been the subject of much research and discussion in psychology and behavioral economics.
Deferred Gratification and Success: Deferred gratification, or the ability to delay immediate pleasure for future rewards, is closely linked to success in various life domains. This concept was famously illustrated by the Stanford marshmallow experiment, where children who were able to wait longer for a preferred reward tended to have better life outcomes, including higher SAT scores, lower levels of substance abuse, better responses to stress, better social skills, and generally better scores in a range of other life measures.
The ability to delay gratification enables individuals to forego short-term temptations in favor of long-term goals. This is crucial in many contexts, such as academic achievement, financial stability, career advancement, and personal development. For example, investing time in education and training can lead to better job opportunities; saving money can lead to financial security; and investing effort in relationships can lead to deeper, more meaningful connections.
Deferred Gratification and Happiness: While the relationship between deferred gratification and happiness might seem less direct, it is equally significant. Short-term pleasures can lead to immediate happiness but might not contribute to long-term fulfillment. In contrast, achieving long-term goals is often associated with a deeper sense of satisfaction and well-being.
Deferred gratification can lead to greater happiness by promoting a sense of achievement, improving self-esteem, and fostering a sense of purpose. Additionally, the process of working towards and achieving long-term goals can lead to personal growth and a more meaningful life, which are closely linked to happiness.
However, it's important to balance long-term goals with short-term needs and pleasures. Excessive focus on future rewards at the expense of present enjoyment can lead to stress, burnout, and a decrease in overall well-being. Happiness often results from finding a balance between enjoying the present moment and working towards future goals.
The Interconnectedness: The connection between deferred gratification, success, and happiness is cyclical. Success in achieving long-term goals can lead to increased happiness, which in turn can motivate further acts of deferred gratification, leading to additional successes. Likewise, the happiness derived from achieving a long-term goal can reinforce the value of deferred gratification, making it easier to delay immediate gratification in the future.
In summary, deferred gratification can be a key to success by enabling individuals to prioritize long-term objectives over short-term impulses. This success can lead to deeper, more enduring forms of happiness compared to the fleeting pleasure of immediate gratification. However, the ultimate goal is to achieve a healthy balance, allowing for enjoyment in the present while also working towards the future.
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The Marshmallow Test
The Marshmallow Test is a well-known psychological experiment conducted by psychologist Walter Mischel in the 1960s and 1970s at Stanford University. The test was originally designed to study delayed gratification and self-control in young children.
In the experiment, a child was offered a choice between one small reward (a marshmallow) provided immediately or two small rewards (two marshmallows) if they could wait for a period of time, typically 15 minutes, during which the experimenter left the room and then returned. The test was conducted in a situation where the child was left alone with the marshmallow and had to decide whether to wait for a larger reward or succumb to temptation and eat the single marshmallow.
Findings of the Marshmallow Test:
However, it's important to note that subsequent research and critiques have brought additional perspectives to the original findings:
Despite the ongoing debates and additional findings, the Marshmallow Test remains a seminal experiment in psychology, contributing significantly to our understanding of self-control, decision-making, and developmental psychology.
While a long term perspective is not an singular perspective, we can see that successful people like Jeff Bezos are driven by a long term vision.
Who is a good example of a long term thinker?
Jeff Bezos, the founder of Amazon, is widely regarded as a long-term thinker and player. This perspective is based on his business practices, investment strategies, and the development and growth of Amazon and his other ventures, such as Blue Origin, his space exploration company.
Here are some reasons why Jeff Bezos is considered a long-term player:
Therefore, while Bezos does make decisions that can have significant short-term impacts, his overall approach to business, investment, and innovation strongly suggests that he is primarily a long-term player.
So what can we do to shift from a short term focus to a long term focus?
Moving people from short-term to long-term goals involves a multifaceted approach:
As for what marks people as winners with long-term goals:
These strategies and traits help individuals transition from short-term objectives to achieving long-term goals, distinguishing those who are successful in realizing their long-term visions.
Understanding Short term thinking
Impulsivity & Short Term Thinking
The measurement of impulsivity and short-term gratification involves various psychological assessments and tools designed to evaluate an individual's tendency towards impulsive behavior and preference for immediate rewards over long-term gains. These measurements can be broadly categorized into self-report questionnaires and behavioral tasks:
These measures can provide valuable insights into an individual's propensity for impulsivity and their preference for short-term gratification. It's important to note that impulsivity is a multifaceted construct, and no single measure can capture all its dimensions. Therefore, researchers and clinicians often use a combination of these tools to obtain a comprehensive assessment. Additionally, the context and specific definitions of impulsivity and short-term gratification can vary, influencing which measures are most appropriate for a given situation.
MD @ EasyPeasy Limited, Award winning Transformation & Innovation Guru, C level positions ex Accenture, BT, PWC, Diageo, ICI.
1 年Long-term Thinking: Leads to greater financial stability and wealth, as evidenced by better retirement savings and investment growth. Associated with higher academic success and career achievement, supported by studies on grit and long-term goal setting. Linked to better health outcomes due to engagement in healthy behaviors like regular exercise and balanced diets. Results in more satisfying and stable relationships, as long-term thinkers tend to work through problems and communicate effectively. Crucial for environmental sustainability, leading to reduced pollution and conservation of resources. Short-term Thinking: Can lead to financial instability due to inadequate savings and impulsive spending. May result in academic underachievement and career setbacks due to a lack of focus and perseverance. Associated with poorer health outcomes due to unhealthy lifestyle choices and neglect of long-term health. Can cause relationship problems due to lack of commitment and failure to consider long-term consequences. Leads to environmental degradation as immediate gains are prioritized over sustainable practices.