What do you do, when you have two options:
1. Get a reward immediately
2. get a bigger reward, but you have to wait for a while?
A famous experiment in the years 1968 – 1972 called “Marshmallow Experiment” makes it obvious and funny to watch, how children handle such a temptation. And it teaches us a lot about adults…
The remarkable result of this study is not the result of the first test. It’s the way how you can predict success:
The kids who did NOT chose to get the immediate reward where more successful when they grew up than the ones who chose to eat the marshmellow immediately.
When you are dealing with employees or business partners always keep in mind, that we tent to prefer the immediate reward, (almost) no matter what you promise for the future.