Too many people write and talk about motivation. No matter how much is discussed, the inner engine pushing our hearts and minds forward is not totally understood. While some are motivated purely by money, others are motivated by challenges, by having more leisure time or by working with the right people.
All in all, there are hundreds of variables that might motivate or demotivate individuals. Richard Koch simplifies the equation by grouping all motivation variables under two umbrellas: money and achievement.
Luckily, the money category is easy to understand: those that are eager to get as much money as they can fall under this category. The achievement umbrella is trickier. Achievement is anything that can be reached at some point. This can be prestige, power, political influence or even things like peace of mind, well-being, and spiritual balance.
Koch says that it's important to focus exactly on one's aim being very specific. If you are simply trying to achieve happiness, this can be too broad a target to be truly focused. What does it really mean to be happy? Too broad. If it is prestige one is looking for, he or she has to establish what the components of prestige are; what does prestige really mean to him or her?
As leaders we have to be aware of the motivational triggers of our team members. We have to know what makes them tick. Is it money or achievement? If it is money, then we should offer them what we can, based on our estimation of what they are worth, and hope it does the trick and keeps them motivated. But if it is achievement, then we need to ask what they are aiming to achieve, and try offering them ways to advance towards it.