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MIND TRAP: When we don’t question assumptions
| Guest post by: Steve Major |
Article Overview: Steve Major discusses the second of five mind traps that can kill smart decisions - when we don't question assumptions. All of us have various beliefs as to what works in a business. We have various ideologies. You could say that we have entrenched thinking. But to make a smart decision we need to be aware of the fundamental assumptions that are in play in the alternatives we are looking at.
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Free Download - MIND TRAP: Ignoring the Evidence By Steve Major |
MIND TRAP: When we don’t question assumptions
There are five mind traps that I feel we fall into in making decisions:
1. Following Fads and Fashion
2. When we don't question assumptions
3. Perspective
4. Heuristic Thinking
5. Ignoring the Evidence.
Now this doesn't matter whether it's the decision to launch a new product, to change an existing product or service, or whether it's some other decision that we are faced with in our business. Maybe it is a decision personal or career decision - there are traps that we can fall into that can kill smart decisions.
All of us have various beliefs as to what works in a business. We have various ideologies. You could say that we have entrenched thinking. But to make a smart decision we need to be aware of the fundamental assumptions that are in play in the alternatives we are looking at.
To use a non-business example, there has been discussion about paying teachers a bonus for the performance of students. In this newsletter, I don't want to go into any political argument about whether that is a good or a bad decision (not that I think it is likely to happen), but let's consider some of the assumptions within the idea:-
1. That teachers are motivated by money.
2. That we can accurately measure the impact of a single teacher.
3. That we can accurately measure the results of a student from these broad based tests.
Now there are other assumptions, but let's just consider those three assumptions. If any one of them did not hold, then the question of merit- based pay for teachers fails.
What decisions and alternatives are you looking at in your business at the moment, where you need to question the fundamental underlying assumptions? It is important that we ask the question - if one of these assumptions is not true, does the idea or decision still work?
So to use the closing example the "Following Fads and Fashion" article, it would be like buying a piece of clothing without trying it on first. Now I've been guilty of that. You look at the label and you make the assumption that it fits.
Are we trying things on in our business without questioning the assumptions? Be careful of the mind trap of not understanding the underlying assumptions, the killer of smart decisions.
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Article Tags: business decisions, business issues, mind trap, performance, question assumptions, smart decision, smart decisions
Referred by: http://www.dglong.com
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About the Author: Steve Major RSS for Steve's articles - Visit Steve's website Click here to visit Steve's website   MIND TRAP Heuristic Thinking MIND TRAP Perspective How the Right Information Can Mean Increased Profits The One Main Thing Efficiency versus Effectiveness |
Related Forum Posts
Re: Convictions vs. Assumptions
- GT
What a great post. I never really thought about it this way, but it makes lots of sense. Too often do we continue to move forward with our assumptions simply because they fit our current plan or environment. By continually questioning our assumptions we'll be better able to adapt to changes and shifts in the market.
Once again..great post and keep similar thoughts coming.
Cheers
Phil
Re: Incentives for Gathering Data
- That is a great question. I dont typically set it as a percentage, rather my team and I discuss it and come up with options. Then we try it out and gauge response.
Re: Does a New Company need a "Big" PR firm?
- I agree with SHri, it really depends on the target audience and how much service you really need.
if you are doing National campaign than you want a firm that has the National contacts. Lots of smaller companies dont have as many resources or connections.
Many firms are going to a pay for performance model which I think will do the PR and advertising industry good. no more $5000 retainers for sending out a couple of press releases - no matter how well written or targeted!
if they dont get picked up, they dont get paid.
J
Re: help wanted in u.k.
- Hi Brendan,
Please dont apologize for feeling like you dont know or understand enough business. At least you know you have some things to learn and are willing to do that.
One of the best things you can do write now is start studying business plans and learning about market research. You can find some amazing resources online and at the library. Before you spend the money on a patent you can be gathering crucial data and testing the viability of the product.
One of my favourite resources is a book called "The Art of the Start". Guy K. (I dont know how to spell his last name). You can also visit a local enterprise centre/business centre. I'm sure you have one close by. They can help you on a personal level to know what steps to take to start.
good luck. We are here - we just need to know how to best help. Thanks for writing back!
Re: I want a professional review about my marketing forum haffow
- 3 days later and still no reply. I guess my assumptions were correct. He really didn't care about any reviews, he just wanted to drop a link to his forum.
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