Can adopting a rigorous exercise regimen help you to increase your sales revenues and achieve your other "extrinsic" and "intrinsic" business goals? According to a study published in the Journal of Small Business Management* recently, the answer is "yes"!
"Extrinsic rewards" are tangible rewards - for example financial rewards. "Intrinsic" rewards are "psychological" rewards, such as the satisfaction of being your own boss, and being in control of your own destiny.
The "rigorous exercise" that the researchers (Michael Goldsby, Donal Kuaratko and James Bishop) tested for was running. They found that entrepreneurs who regularly run were better at attaining the rewards they were seeking (extrinsic and intrinsic). The achievement of these rewards is obviously important for entrepreneurial motivation, and no doubt, as the old adage goes, success breeds success.
Specifically, the intrinsic rewards that the "runners" achieved included personal satisfaction, independence and autonomy. The extrinsic rewards included a marked improvement in sales revenues! So if you want to boost your revenue, start running, or implement a "rigorous exercise" regimen (see below)!
The researchers also examined weightlifting and found that weightlifters were also better at achieving their intrinsic goals. The bad news for the beefcakes, however, is that weightlifting alone (that is, without rigorous exercise) did not result in any increase in sales performance.
What constitutes "rigorous exercise"? The researches reported that in the case of men, it is walking 4.8km in under 45 minutes at least 5 days a week (3.2 kms under 30 minutes 6 days a week for women). Or it can be running 3.2kms in under 20 minutes four days per week (3.2 kms in under 24 minutes four days per week for the ladies).
The benefits of exercise have been documented extensively. One of the benefits is that exercise helps in coping with stress - and most entrepreneurs would be well acquainted with the many stressors of establishing and running a small business. Stress can be debilitating for entrepreneurs, particularly when it clouds the mind and hampers decision making. So exercise can obviously play a role in overcoming stress and its costly symptoms.
Follow this link for tips on starting an exercise regimen.
Finally, the researchers point out that, given that the owner/ entrepreneur is often so vital to the success of their small business, their death or illness is obviously going to be detrimental. Reminds me of the old saying "death is bad for business"...
*For a full citation of the article in question, and/ or to purchase it from Amazon, click here.
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