The decisions you’re about to make for your future are flawed. Relax. We’ll tell you why and what you can do about it in this episode of Reinventure Me.
This week’s Inspire Me quote is from Anonymous:
“Good decisions come from experience, and experience comes from bad decisions.”
In this episode, Leary and Armin discuss blind spots or biases—what they are and why they matter—and highlight five critical biases that can affect how we view the future and take advantage of opportunities. These five biases are:
- Confirmation bias
- Recency bias
- Anchoring bias
- Availability bias
- Information bias
How did we select these five biases when there are hundreds out there to choose from? (Yes, we think we’re amusing when we use irony.) Listen in to find out, and consider how your own biases are shaping your decisions about your future.
Quotes from the show:
- “Whatever that decision is you might be thinking about, you need to think about how you’re influencing yourself and making your decisions.” —Leary
- “Just because something is hot right now doesn’t mean it’s going to stay hot. That’s the recency bias you need to look at. The old advice, just to sleep on it, is a big help. It helps you start to see if you change your opinion about something over time.” —Leary
- “Ask yourself, when you get new information, is there some reason that should invalidate the old assumptions you had and what is the reason for that?” —Leary
- “To overcome the anchoring bias, then, you have to start looking at the problem from different perspectives and assume that the position … you’re holding is false.” —Leary
- “When you’re seeking advice from someone, say as little as possible about how you view it—because, otherwise, you anchor them, and then what you get is an echo chamber, because they’re just gonna repeat back to you what you already thought.” —Leary
- “Just because it’s available and current doesn’t make it the best decision.” —Armin
This week’s Challenge Me:
Think about how these five blind spots or biases might be influencing a decision you’re contemplating.
What do you think of this topic and episode? Share your comments or questions below.
Resources mentioned in or related to this podcast:
- “20 cognitive biases that screw up your decisions,” Business Insider (infographic mentioned in the podcast).
- Adobe Marketing Cloud ad.
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- Leave a review for this show on iTunes and/or Stitcher Radio.
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We look forward to hearing from you!