A person commits to a behavioral change and then establishes a "contract" (with a partner, a friend) whereby some consequence (usually a monetary one) results from the person failing to achieve their goal. The idea is that the desire to avoid the consequence helps keep people more committed to success.
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The idea is part of this collection:
Learn more about personaldevelopment with this collection
Understanding the psychological rewards of bad habits
Creating new habits to replace old ones
Developing self-discipline
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Similar ideas to Commitment Contracts
Organisations often waste time by pursuing conflicting goals. OKRs helps to focus united efforts as it is easy to evaluate progress when goals are tied to measurable results.
However, it can be a problem when goal-setting becomes an obsession. Common pitfalls to avoid:
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