Money Energy Law #28:
Purpose directs long-term performance. Commitment will help to ensure you reach your goals.
Purpose is the connection between what we do and why we do it. William Damon, author of A Path to Purpose, describes it as “a stable and generalized intention to accomplish something that is at the same time meaningful to the self and consequential for the world beyond the self.” According to Gallup research, just a 10% improvement in employees' connection with the mission or purpose of their organization leads to an 8.1% decrease in turnover and a 4.4% increase in profitability.1 I think that’s impressive, and it explains why so many organizations spend time, money, and human resources to develop a strong mission and communicate it to their workers so often.
But what about you personally? Do you have a one-sentence statement that sums up your purpose in life? It’s often believed that each of us thinks about the subject matter daily, but just pondering upon it doesn’t mean you have clearly defined it. And if giving employees connectivity to a purpose can create an increase in performance as mentioned above, just think what having a stronger one for yourself could do for your own long-term performance.
Purpose drives well-being.
A study named The Psychology of Purpose in Life was conducted by Colorado State University and what they revealed was that living a more meaningful life equated to better health, greater achievements in life, stronger personal relationships, and higher income.2 And I’ll give you another reason why establishing a purpose in life matters—longevity!3
The reason I am so laser-focused on purpose is that it has an incredibly strong correlation to discovering your behavioral style and personal identity, which in turn are part of the formula that improves your Money Energy potential. Money Energy and purpose are interconnected and help you achieve similar outcomes.
Commitments are your guardrails.
Don’t confuse goals with commitments. What’s the difference? A goal is something you WANT to do. Commitment is something you NEED to do. It’s difficult to maintain purpose without both of them and it takes motivation, participation, feedback, and knowing your inherent behaviors.
This is hard if you don’t know where to start, but it can be made easier when you know your personal identity and use a scientifically-based behavioral insight tool such as DNA Natural Behavior Discovery to reveal your inherent traits and talents. The more self-aware you are, the more likely you will have a clear vision and purpose for your life. This in-depth clarity will also help open the doors to more opportunities for Money Energy.
Overcoming the First Hurdle When establishing Your Purpose
Let’s learn about Abigail Garcia. She is 47 years old, married with twin boys, who both went off to college. Her husband has a successful career, but his role requires him to travel extensively. Abigail is outgoing, enjoys new ideas, is spontaneous, confident, quick, definitive, and will favor whatever will quickly achieve her goals.
Abigail is a qualified speech therapist and decided to open her own practice after updating her credentials. However, she has always seen her primary purpose as a wife and mother and suffers from empty nest syndrome. She experiences feelings of less worthiness as her sons no longer need her daily support and is sometimes disoriented from the drastic change in the dynamics of her home and what the future may hold.
Before re-establishing her life purpose, she pressed ahead with her new practice and rushed into leasing an office in a building not far from home. Sounds good, but there was a problem. The building was not designated or insured for healthcare providers and therefore unsuitable for her needs. She had overlooked the fact that speech therapy fell under that category.
Psychologically, she moved fast, not based on purpose, rather she was eager for a distraction from her emotional void at home. Impulsive behavior can lead to stumbling over hurdles in life. She made the wrong commitment in terms of leasing. And that will cost her money. Even if she can break the lease, she will likely incur a substantial fee.
Unfortunately, Abigail did not go through a process to understand her inherent behavior and it created obstacles that reduced her Money Energy potential. However, it’s never too late to learn and she did take the time thereafter to discover her behavior style, personal identity, Money Energy, and how they influence the decisions she makes.
Maybe you have not had the same experience as Abigail, but have you ever had a life event that affected your life purpose and commitment?
I hope you’ll take your journey one step further and explore the Money Energy Discovery Process, which includes completing the DNA Natural Behavior Discovery Process. Isn't it time you learned an improved method to achieve better financial wellbeing? Stay tuned every week as we continue to reveal all 40 Laws of Money Energy.
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1To Get Your People's Best Performance, Start with Purpose, Workplace, Gallup, May 21, 2021.
2The Psychology of Purpose in Life, Columbine Health Systems Center for Healthy Aging, Colorado State University, July 13, 2021.
3A Purpose in Life Might Lengthen Your Life, US News & World Report, November 28, 2022.