7 Cognitive Biases That Shape New Business Development
Episode 20 of the Breaking BizDev podcast, hosted by John Tyreman & Mark Wainwright, titled "7 Cognitive Biases That Shape New Business Development" was published on May 27, 2024 and runs 29 minutes.
May 27, 2024 ·29m · Breaking BizDev
Summary
Your decisions are influenced by natural psychological forces. Whether that's deciding on which coffee size to select, or which firm to work with... cognitive bias is at play. On this episode of Breaking BizDev, John and Mark share 7 cognitive biases that shape new business development, and share how you can use them to help buyers make better, more informed decisions: AnchoringMessenger EffectLoss AversionSocial ProofDecoy effectPain of payingOptimism BiasHere are some additional resou...
Episode Description
Your decisions are influenced by natural psychological forces.
Whether that's deciding on which coffee size to select, or which firm to work with... cognitive bias is at play.
On this episode of Breaking BizDev, John and Mark share 7 cognitive biases that shape new business development, and share how you can use them to help buyers make better, more informed decisions:
- Anchoring
- Messenger Effect
- Loss Aversion
- Social Proof
- Decoy effect
- Pain of paying
- Optimism Bias
Here are some additional resources mentioned on this episode:
- Daniel Kahneman and his book Thinking, Fast and Slow.
- The team at The Decision Lab and their extensive library of cognitive biases, heuristics, and insights.
- Melina Palmer the host of The Brainy Business podcast and consultancy.
- Katelyn Bourgoin 🧠 author of the Why We Buy newsletter and nearly endless other bits of wisdom.
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