Achieving Happiness: Insights from Arthur Brooks, a Happiness Expert at Harvard Business School, on the Missed Steps Towards True Bliss, along with Financial and Career Tips for Ultimate Contentment.
In a forthcoming book, "The Happiness Files: Insights on Work and Life," Arthur Brooks, a professor at Harvard Business School, delves into the influence of money on wellbeing. Brooks argues that becoming a billionaire in the business of life is not about money or power, but about love and happiness.
Brooks finds that many of his students misunderstand the concept of "the startup of their life." To anyone who feels dissatisfied, he recommends asking if they are behaving like a startup entrepreneur with their life or not. Approaching life with an entrepreneurial mindset can contribute significantly to happiness and wellbeing.
This approach fosters a mindset of resilience, continuous learning, autonomy, and a proactive attitude toward challenges and opportunities. It keeps life dynamic and fulfilling, much like running a startup, which requires adaptability, innovation, and a sense of purpose.
Key ways this entrepreneurial mindset enhances happiness and wellbeing are:
- Resilience and Growth: Entrepreneurs view setbacks as opportunities for growth, learning, and improvement, which cultivates emotional resilience and reduces negative impacts of failure.
- Problem-Solving and Innovation: This mindset encourages creative problem-solving and anticipation of challenges, leading to a more empowered and engaged approach to life's difficulties.
- Autonomy and Ownership: Treating life like a startup gives a person a sense of control over their decisions and direction, increasing intrinsic motivation, confidence, and satisfaction.
- Purpose and Passion Alignment: Entrepreneurs often pursue ventures meaningful to their interests and values, contributing to personal satisfaction and meaning in life.
- Continuous Evolution and Adventure: Imagining life as a constantly evolving startup adds excitement and a sense of adventure, which enhances life satisfaction and prevents stagnation.
- Focus on Positive Impact: Entrepreneurial thinking drives individuals to initiate positive changes in their career and community, giving a sense of contribution and fulfillment.
By shifting one's perspective from passive existence to active management of life as an exciting, evolving venture, people can lead to greater happiness and wellbeing in their careers and lives.
Brooks also suggests that happiness is not a feeling, but rather a state that can be understood through the science of enjoyment, satisfaction, and meaning. He suggests paying attention to two metrics, earning success and serving other people, to help people figure out if they are doing what they are meant to do.
Research from a senior fellow at the University of Pennsylvania found that well-being does increase beyond the $75,000 threshold. However, real happiness comes from spending money on experiences, outsourcing work, donating to causes, or saving and investing, rather than on material possessions.
Brooks notes that promotions and raises do not necessarily make people happy, as people are designed to be successful, not happy. He suggests that people should focus on finding their calling, which is the thing that brings them a lot of meaning. Dealing with uncertainty becomes easier when you recognize your career as part of your entrepreneurial adventure.
Liminal periods of uncertainty have the potential to be some of the most fruitful times. A collaborative project from Kahneman and Killingsworth, along with the University of Pennsylvania's Barbara Mellers, revealed that money can continue to buy happiness for people who are already happy, but it can only curb unhappiness to a point for those who are not.
In essence, embracing life as a startup can lead to a more fulfilling, dynamic, and happy life. By adopting an entrepreneurial mindset, individuals can navigate uncertainty, find their calling, and cultivate resilience, leading to greater happiness and wellbeing.
[1] https://hbr.org/2018/06/the-case-for-resilience [2] https://hbr.org/2016/11/how-to-find-your-calling [3] https://hbr.org/2016/09/the-case-for-meaning [4] https://hbr.org/2018/05/the-surprising-science-of-happiness [5] https://hbr.org/2018/07/the-happiness-advantage
- Arthur Brooks, in his upcoming book "The Happiness Files: Insights on Work and Life," contends that money is not the key to happiness and wellbeing; instead, it is love and satisfaction that fuel success in life.
- Brooks notes that many of his students misunderstand the concept of living their lives as a 'startup', prompting him to recommend adopting an entrepreneurial mindset for happiness and fulfillment.
- An entrepreneurial mindset encourages resilience, continuous learning, autonomy, and a proactive approach to challenges and opportunities, contributing to a more dynamic and satisfying life.
- To enhance happiness and wellbeing, following an entrepreneurial approach can lead to growth through viewing setbacks as opportunities, innovating solutions, and pursuing passions.
- Personal satisfaction, as well as career and community development, can be fostered by viewing life as a constantly evolving startup, aiming for positive impact, and focusing on personal calling, not just external validation.
- According to Brooks, wealth can play a role in enhancing the happiness of those already content, but it's better to invest in experiences, outsourcing, philanthropy, or savings for long-term rewards, rather than focusing on material possessions.