As we start out 2017, rather than doing a goal-planning exercise for you over a blog post, I thought it might be more useful to get you thinking a little bigger.
First, this is for if you manage a team.
Well, as I type that, I happen to think that it actually matters not at all if you consider yourself a “sole proprietor” or if you are over a large network of employees or a team that reports to you.
Especially as we all sit down to plan out our 2017, whether it’s on our own, or alongside our team, it’s critical to motivate yourself AND those around you (be they team members, customers, coworkers, family members, etc.).
What you do is important, sure … but it’s the “why” that really takes things home.
How do I know this? Simple — it’s science.
(And once again, before I get to my Note, I want to thank you for the referrals that we received here at Team Venuti in 2016. We have had a fantastic year, and I know that it’s in large part because of the people, like YOU, that we run with.)
Understanding The Power Of Why by Stephen Venuti
“There is no such thing as a long piece of work, except one that you dare not start.” -Charles Baudelaire
I recently read about an experiment conducted by the University of Pennsylvania’s Wharton School of Business which demonstrates the power of why.
At a university call center where employees phone alumni to solicit contributions to scholarship funds, the staff was randomly divided into three groups: The first read stories written by former call center employees about the benefits of the job (improved communication and sales skills, and so forth); the second read accounts from former students about how their scholarships helped them with their education, careers, and lives; the third, a control group, read nothing.
Measuring the results of the three teams after a month, the researchers found that the first group and the third group raised roughly the same amount of money from alumni after the experiment began as before. But callers in the second group, who’d read inspirational stories about the impact of the scholarships they were raising funds for, raised twice as much money from twice as many alumni as they had before.
Understanding the importance of their work — the “why” — apparently motivated them to get better results.
The application to our own Newtown Square, PA businesses is likely obvious. Give your employees, and/or understand for yourself, the greater reasons for the work you do … and bigger and better results will follow.
Feel very free forward this article to a Newtown Square, PA business associate or client you know who could benefit from our assistance — or simply send them our way? While these particular articles usually relate to business strategy, as you know, we specialize in tax preparation and planning for Newtown Square, PA families and business owners. And we always make room for referrals from trusted sources like you.
Warmly,
Stephen Venuti
610-353-0686
Stephen J. Venuti, CPA, MST, LLC
