Delayed Gratification- Good for Business?

In the remembrance of delayed gratification

Delayed gratification is when people avoid the temptations for immediate rewards to receive them at a later time, where the rewards are greater. This is a tool that many people use for motivating themselves to do work. Say you really want to eat chocolate but you have your project proposal due in 2 hours. You may eat it now, but by using it as a future reward, you motivate yourself to complete it faster. Sounds good enough, except when it comes to business strategy, this theory is dead. We are passed the age of delayed gratification and here are the murderers that killed it.

Online Shopping

Online shopping really gets the bulk of their customers from impulse shoppers. Impulse shopping is easier on a platform where you cannot physically hold the object you are buying or physically pass on the price, as money. By dehumanising this process, it is easier to buy anything you want whenever you want it. Late night shoppers, anti-social shoppers, lazy shoppers, they all band together to form the main customer base on online shopping. And delayed gratification has no business being here.

Easy Credit and Easy EMI

The other thing that helps people get what they want now, rather than save for it later is credit. By being able to purchase things banking on the future ability to pay for it, people are achieving their life goals sooner than they had expected. New house, new car, new appliances can all be bought on credit conclusively killing delayed gratification. Moreover, these purchases can be paid off on EMI or Easy Monthly Instalments that make large purchases feel like smaller ones. This is always a great business strategy.

The Culture of “You Only Live Once.”

You Only Live Once, or YOLO, is the popular mantra for the people of today. This is the idea that there is no tomorrow or next life to achieve what you want. It is now or never. Sometimes it motivates people to pursue their dreams. Give up your boring job and travel the world. Yet it’s the greatest use is by people who quite literally do not believe in delayed gratification. Why wait for tomorrow if you can get it today? The saying, “Good things come for those who wait” is dead.

The modern business strategy of an aspiring entrepreneur should get with the times and get over the idea of delayed gratification.

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