10 Biases That You Need To Understand

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1. Anchoring bias

This is when you base all your decisions on the first information you receive

If I told you my service was $1000

Then you came back a week later and I said $500 you would think you were getting a deal

You can use this to sell your product to anyone

2. Availability heuristic bias

You overestimate the importance of the mainstream media

People make decisions based more on stories and news than real information

If people see there is a problem with public school

Then they will start homeschooling their children

3. Bandwagon bias

You will believe something not because of what you believe but because you want to be part of the majority

This is dangerous

Avoid groupthink and speak up in situations where you feel pressured to agree with everyone else

4. Choice supportive bias

You have the tendency to defend something just because you chose it

Think about IPhone users

They only see the good and avoid the negative sides

If you avoid this you can use it as an advantage to those who can’t

Don’t be a consumer, be a creator