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What is behavioral economics? Why does it matter to you?

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Podcast Episodes

What is behavioral economics? Why does it matter to you?

249. Using Motivation and Happiness Science to Make 2023 Your Best Year Ever

Happy (almost) New Year! This is the last episode of 2022, coming out on December 30 – and what a year it has been! My second book, What Your Employees Need and Can’t Tell You came out in October, and I got to do a book signing at the Sam’s Club Auditorium which was amazing! I also got to speak at some amazing conferences, including travel to Amsterdam and for multiple groups in Latin America, had students from around the world in the certificate program at Texas A&M, got to work with amazing clients and so much more. I can’t wait to see what 2023 has in store. One of the things I am most excited about is speaking at SXSW in Austin in March. 

Well, speaking of 2023 being an amazing year, that’s what this episode is all about. I’ve done something a little bit different in this episode by bringing on two guests to do a panel of sorts. One of them you have met before, Ayelet Fishbach, Professor of Behavioral Science and Marketing at the University of Chicago and author of Get It Done, which came out earlier this year. Our other panelist, Cassie Holmes, is a professor at UCLA who wrote the new book Happier Hour, which is so beyond fantastic. She specializes in the science of happiness and talks about time poverty and so many other amazing things. (Don’t worry, we have a full interview that is all about Cassie and her work coming out in early 2023.)

In today’s episode, that topic is having the best, happiest year by understanding the science of motivation, goals, achievement, happiness, mindset, and more. Listen in to find out how you can make 2023 your best year yet!

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IN A RUSH?

HERE'S A 2 MINUTE TIP.

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SHOW NOTES:

  • [00:06] In today’s episode, I am excited to welcome Ayelet Fishbach and Cassie Holmes to discuss how you can have the best year ever. 
  • [01:15] Forty-six different guests have joined me on the show this year including those in today’s interview. We also started testing out releasing two episodes a week. 
  • [04:51] Today I have brought together two people from different universities studying somewhat different (but arguably related) topics to have a discussion about how their work compliments (or contradicts) one another. Today’s topic is having the best happiest year by understanding the science of motivation, goals, achievement, happiness, mindset, our thoughts towards time, and more.  
  • [06:21] Ayelet shares about herself, her background, and what she does. She is a motivational scientist. 
  • [07:47] Cassie shares about herself, her background, and what she does. She is a professor that studies happiness and life satisfaction. 
  • [10:25] We are talking about how to help people have better, more successful years in 2023. 
  • [11:24] Around the time the year ends and the new year begins, people are thinking about what they want to achieve. However, there is a likelihood that you will forget about your resolution. 
  • [13:27] You have a wonderful opportunity to reflect back on the prior year. 
  • [16:08] When we feel like we are constantly rushing or hurrying, we are more reactive in how we invest our time instead of proactive and investing in those things that really matter. 
  • [19:02] Looking back is often a way to reaffirm your commitment. 
  • [21:58] Set goals that you can see yourself doing right now and what will make you feel good right now. 
  • [22:41] A year is not the right time frame for many goals. A year has a very long middle. Often weekly and monthly goals are better.   
  • [24:57] Folks who take a broader perspective of time report greater meaning and satisfaction and are happier in their days. 
  • [26:44] Invest time in ways that are worthwhile. The particular activity you are engaging in and also how you are engaging in that activity are what makes the activity worthwhile. 
  • [28:37] You constantly need to navigate the motivation and priorities of your goals.  
  • [30:42] We often get stuck on the little stuff that doesn’t really matter instead of focusing on the most important things that help us to move forward on a bigger goal. A to-do list can be a distraction from our higher-value goals. 
  • [32:56] Melina shares four things that work against us: optimism bias, time discounting, planning fallacy, and bikeshedding. 
  • [34:12] Progress is motivating – progress feels good – which is why we often love our to-do lists. 
  • [36:18] You want to ask why you are doing the thing you are doing. You also want to ask how questions.  
  • [39:29] Those who treated their weekend like a vacation were significantly happier when they returned to work and enjoyed the weekend more. Our weekends are meant to be breaks so we can return feeling refreshed and motivated. 
  • [41:26] We need to be intentional and carve out spaces for true breaks during the week – at least once, ideally more. 
  • [46:20] It is important to create the right balance between our goals and the activities that help us achieve the goals.  
  • [49:31] Restructure your day in a way that makes more sense for the goals that you have for yourself for the week and year. 
  • [51:32] It is often harder to learn when you are working from home and not with other people you can learn from. Connection and friendship have suffered between colleagues working from home during the pandemic. 
  • [54:17] Developing friendships with colleagues can be so hard through Zoom, but figuring out ways to bring people together to foster those relationships is so important. 
  • [57:16] Do our panelists set resolutions? Melina and Cassie say no (listen in on her upcoming episode to find out why). Ayelet sets New Year’s resolutions because it is an opportunity to think about what she wants to achieve and where she wants to go. 
  • [58:35] Melina’s closing thoughts
  • [59:54] Melina chooses a word annually. It is a theme to guide her and keep her centered throughout the year on what she wants to accomplish. 
  • [61:36] Thank you for supporting The Brainy Business! I appreciate you more than I can ever say! 
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