Why Do We Procrastinate And How Can We Beat The Urge?
Ever find yourself eagerly logging your expenses, or clearing the furthest reaches of your inbox while contemplating whether you’ll ever find the will to finish that report, crunch those numbers or fix that problem? You’re not alone. Procrastination, which often means doing low-value tasks to avoid difficult, more important ones–or else doing things we enjoy rather than things we don’t–is all too common. One theory is that it’s hyperbolic discounting in action: the tendency to choose smaller rewards now over larger rewards later. This concept is normally applied to economics (do you want $10 today or $50 in five months’ time), but it applies here too because, by replacing important tasks with easy admin, we’re getting a really bad value exchange in return for a brief burst of satisfaction. And for entrepreneurs, who ought to be solely focused on the jobs that are important and urgent, it’s a false efficiency. …
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