When you are in business, it’s helpful to have an understanding of what people want. Abraham Maslow developed the Hierarchy of Needs in 1943. In Maslow’s theory there are five general levels of need, each of which must be met before a person can focus on the next higher-order need. The five levels in Maslow’s theory are: Physiological (breathing, food, water, sleep); Safety (security of body, property); Love/Belonging (friendship, family); Esteem (confidence, self-esteem, respect of and from others); Self-actualization (morality, creativity, problem solving, lack of prejudice). In short, if you don’t have enough food, or you’re in physical danger, you’re not focused on whether or not other people like you or how much personal growth you’re experiencing.
In 1969 Clayton Alderfer defined the ERG Theory in a reaction to Maslow’s Hierarchy of Needs. Alderfer described three categories of human needs that influence worker’s behavior: Existence Needs (physiological and safety – Maslow’s first two levels); Relatedness Needs (social and external esteem – Maslow’s third and fourth levels; Growth Needs (internal esteem and self-actualization – Maslow’s fourth and fifth levels). Alderfer recognized that the order of importance of the three categories may vary for each individual.
Maslow and Alderfer focused on the priority of human desires. Harvard Business School professors Paul Lawrence and Nitin Nohria, authors of Driven: How Human Nature Shapes Our Choices defined the Core Human Drives that influence our decisions and actions:
- The Drive to Acquire. The desire to obtain or collect physical objects, as well as immaterial qualities like status, power, and influence. Businesses built on the drive to acquire include retailers, investment brokerages, and political consulting companies. Companies that promise to make us wealthy, famous, influential, or powerful connect to this drive in their customers.
- The Drive to Bond. The desire to feel valued and loved through relationships with other. Businesses built on the drive to bond include restaurants, conferences, and dating services. Companies that promise to make their customers attractive, well like, or highly regarded connect to this drive.
- The Drive to Learn. The desire to satisfy our curiosity. Businesses built on the drive to learn include academic programs, book publishers, and training workshops. Companies that promise to make us more knowledgeable or competent connect to this drive.
- The Drive to Defend. The desire to protect ourselves, our loved ones, and our property. Businesses built on the drive to defend include home alarm systems, insurance products, martial arts training, and legal services. Companies that promise to keep us safe, eliminate a problem, or prevent bad things from happening connect to this drive.
There is a fifth core drive that Josh Kaufman adds:
Whenever a group of people have an unmet need in one or more of these areas, a market will form to satisfy that need. The more drives your offer connects with, the more attractive it will be to your potential market.
At the core, all successful businesses sell some combination of money, status, power, love, knowledge, protection, pleasure, and excitement. The more clearly you articulate how your project satisfies one or more of these drives, the more attractive your offer will be to your potential customers.