Behavioral economists pretty much agree that money isn’t the best motivator.
It’s intrinsic vs. extrinsic motivators, and given reasonable levels of compensation, most people will more reliably work harder for beliefs, rather than money.
You probably already knew that, so the more interesting question is… What do you believe in?
What does your business stand for?
How can you articulate that in a way that your people will want to be part of?
Figure that out, and you’ll have happier, more motivated people. One insight here…. you don’t have to be a social entrepreneur, or wanting to change the world. Sometimes, it can just be aligned against a bigger competitor. Lots of companies are super energized by the idea of beating the industry leader… [Amazon, Apple, etc.]
If you’re not seeing the driver, knock it around with your people… they will reveal what excites them.