As we continue with our five-part series of needs and wants, we address esteem needs.
Moving upward on the hierarchy is a higher–order level of needs—esteem. This includes both esteem from others and self-esteem. Are you satisfied? Do you like yourself? If you don’t, it is probably going to be difficult for others to disagree with your opinion.
Your ideal self may conflict with your mirror image. In other words, you would rather see yourself differently than your reflection in the mirror. Would you feel better looking like the models in advertisements? Marketers assure us that we can look beautiful, sharpen our brains, hear a pin drop, and even grow more hair. We can all be beautiful people!
A good way to understand our behavior is to consider what is in our personal value system. Having self-esteem is accompanied by living with that which we value.
Our studies reveal that wealth accumulation is largely attitudinal. What really matters to you? Is becoming a millionaire a worthwhile endeavor? How are your values ranked? If wealth status is a worthy goal for us, it must be congruent with components within our value system. So, what’s in your value system? Consider the factors presented in the table below which are listed in alphabetical order.
Refer to the above listed “motivators” and rank them 1 through 22. This will prove difficult, but such an exercise may help you to better understand your perspective and how it influences your motivation and most of the decisions you make. What you value is what you believe you need in life to feel satisfied. This connects with self-esteem.
Remember, esteem needs and wants apply to every day of one’s life. Marketers are readily available to offer products and solutions to make us feel better about ourselves. Esteem related products and services may include anything from cosmetic surgery, to diet programs, to gym memberships, to hairstylists, and on and on with a myriad of possibilities. Again, it is up to the consumer to decide on the most appropriate differentiation between need and want.
Assuming an acceptable balance within the hierarchy of needs through the esteem level, it is appropriate to move to the apex. Self-Actualization: “Be all you care to be.”
Part 5 in this series addresses reaching Self-Actualization.
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New York Times bestselling author William D. Danko and Richard J. Van Ness, wrote the research-based book, Richer Than A Millionaire ~ A Pathway to True Prosperity, which shows the way to wealth and happiness through embracing traditional values. Washington Post’s Michelle Singletary selected this book as, The Color of Money Book of the Month. The $9 billion Vanguard Charitable fund website featured our book.
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