Hr Library
Trending

Try this easy tactic to trick your brain into making better decisions

When it comes to serious decisions in business or in life, this mental quirk can set us up for catastrophic failure unless we actively work to keep it in check

Source | www.fastcompany.com | YONASON GOLDSON

Imagine this: You’re heading for the cashier at your local bookstore when you pass a display selling coffee mugs for $5. There’s only one left, sporting an image of your favorite celebrity, but you’re not willing to spend five bucks on it. Then you notice the clearance sign marking it down to $2.50. You pick up the mug and pay for it with your other merchandise.

As you walk out to the parking lot, the customer exiting right behind you says, “Gee, I was going to buy that mug, but you grabbed it before I got to it. I’ll buy it from you for the full price of $5. What do you say?”

“No,” you reply immediately, “I wouldn’t sell it for less than $7.50.”

What just happened? Are you an opportunist or a savvy entrepreneur?

Quite possibly, you are neither. Rather, you may have fallen victim to a natural agency of the human brain. And although deals in the resale mug market may not add up to a hill of coffee beans, when it comes to more serious decisions in business or in life, this same mental quirk can set us up for catastrophic failure.

TO HAVE AND TO HOLD

In a decades-old study, researchers asked subjects to list the reasons for and against buying a VCR. (If you don’t know what that is, ask someone over 40.) Some were instructed to write the list of pros first, others to first compose the list of cons.

Click here to read the full article

Source
www.fastcompany.com
Show More

Related Articles

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button