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7 Cognitive Biases That Shape New Business Development
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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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