In an era where team dynamics are central to organizational success, we studied the interplay between team goal orientations and its impact on performance, revealing the potential pitfalls of teams simultaneously pursuing both learning- and performance goal orientations. Three-wave, multisource data were collected from 109 teams at a large North American mortgage company. We found that teams that pursue both learning- and performance goal orientations find their task less meaningful, ultimately hindering their performance. Indeed, the relationship between team learning goal orientation and team performance via team task meaningfulness becomes more positive when team performance goal orientation is lower, and the relationship between team performance goal orientation and team performance via team task meaningfulness becomes more positive when team learning goal orientation is lower. Theoretical and managerial implications are discussed.