Article by Angela Hydes, Marketing and Content Contributor
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In the late 1960s, Stanford professor and psychologist Walter Mischel led a series of experiments centered on delayed gratification. In these studies, young children were offered a choice between one small reward provided immediately or two small rewards if they waited for a short period of time (approx. 15 minutes). During this waiting period, the tester would leave the room. Often, the reward was a cookie, marshmallow or pretzel. (Wikipedia)
After testing approximately 600 children, Stanford researchers concluded that only a third were able to resist the temptation, while the remainder found the urge to high. Follow-up research indicated that the children able to wait longer tended to have better life outcomes, as measured by SAT scores, educational attainment, body mass index (BMI), and other wellness measures.
You are probably still wondering what this has to do with business.