Procrastination: Matching Law

by | Feb 25, 2021

We’ve been discussing procrastination for the last few days. If you missed the previous posts on the topic, you may want to take a few minutes to catch up (previous Procrastination Insights 1, 2, and 3).

The Procrastination Equation states:

Your tendency to overcome procrastination = (Expectancy x Value) / (Delay x Impulsiveness)

The denominator of the equation veers away from economics into the psychological field of behaviorism.

It relates to what behaviorists call the Matching Law and accounts for the less rational contributors to motivation.

Its relationship to positive motivation is clear—time and distractions are killers.

This is why high performing recruiters and hiring managers break the recruiting process down into small chunks where small wins can be frequently recorded.

For example:

How many proactive outreaches to prospects did you accomplish?

How many live conversations did you have today?

What percentage of my trial closes for an appointment worked?

In essence, you turn recruiting into a fun game so delay and impulsiveness are constantly being minimized.

This keeps motivation high, limits procrastination, and sustains you during the seemingly long periods of time between hires.

 

The Simple Psychology of Real Estate Recruiting [2nd Edition]

Unlock the secrets of effective real estate recruiting. Revised to include actionable frameworks for sharper execution and to help you turn psychological theory into a repeatable recruiting system.

Creating Pacts to Avoid Distraction

Creating Pacts to Avoid Distraction

Notice the two parts to Nir’s formula: a pre-commitment and an external force to keep you accountable to that commitment. For recruiting setting goals and time-blocks in your schedule is not enough. Most people need some kind of external accountability, as well.

Look for Individuals Who Want to be Measured

Look for Individuals Who Want to be Measured

It’s not that people with a growth mindset don’t experience failure—they just see failure as an opportunity to learn new things, to be challenged, and to experience curiosity. This is an important topic to cover during interviews and follow-up conversations with your prospects. If you find someone who likes being measured, you’ve likely found someone who will push through the inherent failures of growing a real estate business and experience long-term success.