Unconsidered: For Modern Entrepreneurs, Business Owners & Marketers

9 Episodes

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Expectations & Self-fulfilling Prophecies: What We Expect Is What We Get

2024-03-0717:51

On Season 1 Episode 9:Business owners, leaders and managers often hold a certain expectation of their employees. But these expectations change employee by employee. However, what we learn about in this episode of the podcast is loads of research which suggests our expectations of others - and ourselves - becomes reality.When leaders hold high-expectations of their employees, they are far more likely to overcommunicate, provide additional support and encouragement, resulting in a higher perfor...

Endowment Effect & Status Quo Bias: What We Possess, Possesses Us

2023-08-3118:54

On Season 1 Episode 8:As organization and business leaders we often find ourselves in possessions of negotiation. In these moments we try to ascribe appropriate value to possessions, people, ideas and more. But we're often allowing personal attachment, emotion and nostalgia to impact the value we ascribe to these things leading to overvalued items and lost opportunities.In this episode, we dive into the research of what is happening on a subconscious level in these moments - referred to as th...

Incentives & Motivation: Driving Performance Through Intrinsic & Extrinsic Motivation

2023-05-1126:47

On Season 1 Episode 7:Incentives are necessary drivers of motivation and we all have to get paid to perform our craft. But when money is tied to performance, weird things start to happen. Business owners, leaders and entrepreneurs need to understand when and how incentives can drive increased performance, and when they may actually be undermining performance, demotivating employees and creating a decline in performance.In this episode, we dive into the research of how applying monetary incent...

Scarcity & Demand: How Scarcity Creates Demand and Supports Increased Prices

2023-04-0423:31

On Season 1 Episode 6:Scarcity is thing that is stealing the attention, memory and executive control of your potential buyers, clients and bosses. It causes them to laser focus on their most scarce resources, creating blindness to the very tools, ideas, people and programs that are essential to growing demand for the business.In this episode, we dive into how scarcity, or the lack of available resources - be it time, money, employees, trust - is this underlying process running in back of each...

Multitasking & Switching Costs: How Multitasking is Killing Productivity

2023-03-0925:00

On Season 1 Episode 5:Multitasking - that is trying to simultaneously perform multiple work functions - is killing the quality of your work, it's actually lowering your productivity, and it may be causing you to work up to 21 extra hours per month.In this episode, we talk about the primary causes of multitasking, why our brains fundamentally can't perform multiple tasks simultaneously, we'll look at how environmental work factors cause employees to resort to multitasking, and ultimately...

Paradox of Choice & Differentiation: How Limited Choice Improves Customer Decision Making

2023-02-1422:10

On Season 1 Episode 4:The Paradox of choice, or choice overload, is the point at which you are giving your buyers so much choice that rather than motivating the buyer, demotivation kicks in. This leads to more reluctant decision-makers, lower conversion rates, lower buyer satisfaction, and lower commitment from the buyer.In this episode, we talk about how businesses think they are making customer-first decisions by adding more products, more menu items, more services, more SKUs and so on. But...

Scope Insensitivity & Neglect: Understanding the Problem with Large Numbers

2023-01-2516:06

On Season 1 Episode 3:Scope insensitivity is that look that comes across the face of your prospect as soon as they hit the proposal amount. You know the one... *Blank stare*. Then all of a sudden you find yourself locked in a negotiation, debating your value compared to the other guy's, start dates are dragged out, proposals go unsigned, revenue sinks.In this episode we learn how scope insensitivity - the problem of large numbers - is costing you business, sales and revenue. We'll take some p...

Decoy Pricing & Attraction Effect: Increase Revenue by Eliminating Negotiations

2023-01-2518:53

On Season 1 Episode 2:Decoy pricing surrounds us. Not only is your favorite restaurant pricing their menu in a way that causes you to order what they want you to order, but some of the biggest brands on the planet are using decoy pricing to get you to spend more without even knowing it.In this episode we discuss the psychology behind decoy pricing, dig into some past research on the subject and then give you practical examples of how to use decoy pricing to win more negotiations, increase the...

Sunk Costs & Escalation Traps: How to Reduce Costs & Improve Decision Making

2023-01-2519:17

On Season 1 Episode 1:Sunk cost problems cloud our decision making for a number of reasons - invested time or money, our own stupid ego, lack of accountability, no clear path out - you name it. Not only is sunk cost costing time and money, it's costing us trust and relationships. In this episode we discuss how to spot sunk cost problems, what escalation traps are, or the commitment of escalation is, and how we can make better decisions which lead to better business outcomes.Full episode ...

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Unconsidered: For Modern Entrepreneurs, Business Owners & Marketers