Psychological momentum is one of the most frequently discussed phenomena among sports fans and commentators.
Over 90% of fans, 92% of coaches, and 76% of NBA basketball players themselves believe that their performance is crucially determined by momentum, to the point that they “almost can’t miss” their next shot.
Athletes seek confidence because they know that, the more they have, the better they will play.
But momentum is not just a sports phenomenon:
- In every election candidates are frequently gaining and losing momentum, and specialists often highlight that this affects how strategic alliances and political concessions are made.
- After the 2008 "Great Recession", it is now clear that companies postponed capital investments and the hiring of new employees because they were waiting to see if the economy was “gaining momentum” and truly recovering.
- Over the short term, stock prices are mostly driven by investor sentiment rather than companies’ performance (“fundamentals”). High-momentum stocks are heavily traded and often have unreasonable price-to-earnings ratios.
There's extensive and conclusive research showing that psychological momentum is not a myth, but a reality. Previous performance significantly affects subsequent performance.
Initial success creates, reinforces, and lengthens momentum. And the longer the psychological momentum can be sustained, the more likely is the success.
Why is this relevant to you? If you understand how it works, you can consciously create momentum to fuel the growth of your consulting business. With momentum, you get better results and more enjoyment out of your practice.
This is a topic I cover in my business development training sessions, but in the next few days I'll be sharing the basic ideas behind it here.
PS: If you want to dig deeper into this topic yourself, "Psychological Momentum: Why Success Breeds Success” (Iso-Ahola & Dotson) is quite easy to read and a good place to start.