It’s the motivational component that keeps the smoker from closing the knowing-doing gap and quitting. Berkman believes that the secret to enhancing this motivation is to tie it back in with the endowment effect—with feelings of value to the self.
So, the key to closing the knowing-doing gap is not more education. Rather, it’s to amp up the motivation to get you to want to do the doing. It’s to tie the motivation to something that is meaningful to that person.
Asking Why And How
Drilling down to the key motivators that can amp up this motivation requires what Berkman calls a “goal hierarchy.” And it involves asking questions.
[As an aside, if you haven’t noticed, being an insightful “question asker” is a mandatory skill for financial advisors to remain competitive in a techno-obsessed world.]
Asking “why” moves you up the goal hierarchy towards root motivators. Asking “how” moves you down to concrete, practical steps that help you work towards your goals.
For example, imagine that you and your client are looking over the family’s monthly budget. A line item jumps out at you: buying groceries at the farmer’s market. Your client might not think all that much about those weekly shopping trips. But if you lead them up the goal hierarchy with a question—“Why do you shop at the farmer’s market?”—you’ll spark a conversation that will make both you and the client think about key motivators that are more than just apples and oranges. The client might appreciate the family time. The client might feel like spending money in this way supports the community. The client might be very health-conscious.
Family. Community. Health. One simple question reveals three motivators, three values, that the advisor will be mindful of throughout the life of the client relationship. Bingo, you’re now working with your client at a level no computer will ever reach.
“It's interesting to put it all together,” Berkman said. “Starting to think about our goals in that big picture, I think, will help people motivate those low-level behaviors, which feel like a hassle, they feel annoying, they feel effortful. If you have a really good, clear understanding for yourself of why you're doing those things, what's the motivating factor behind them, it becomes a lot easier.”