10 Biases That You Need To Understand = THREAD =

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

5. Confirmation bias

You never look for both sides of a situation

If you believe that all ice cream is bad

You will only research for what supports your point

This leaves you looking ignorant...

Try this instead,

Make sure you firm up your argument by getting both sides of the facts

When you go into a debate knowing the whole picture will put you in position to win

Start doing this today,

It will pay off in the long run

6. Ostrich bias

This is when you only consider the positive information and ignoring the negative information

Let’s say you are a smoker

You may ignore the negative side effects because you want the positive ones...

This can be deadly

The same is only seeing the positive side of other decisions

It can lead to a lot of disappointment if you don’t avoid it

Don’t be ignorant, take everything into account

Take your head out of the sand

7. Outcome Bias

This is when you decide only off outcomes

Let’s say you made a decision based on your gut, and you are right

Then you start making all your decisions based on your gut

This will end in extreme failure

Pay attention to all the details and then make your choice

8. Placebo bias

When you believe something will happen it will actually happen

This has been proven time and time again

The way you think is important

So, what does that mean

This bias can be used to your advantage if you just remember this:

Positive thoughts lead to positive outcomes

Control what you are consuming and make sure you surround yourself with

It all matters.

9. Survivorship bias

This is when you judge something based completely on surviving information

For example, 5 ways to become a millionaire

We all know that millions have failed on this path

But we take these 5 ways and think they will work for us...

Why?

Because we see only the survivors

Avoid falling for this sales tactic from now on

Every path is unique and different, you have to be willing to take your own journey

You'll be better off with this mindset shift

10. Blind spot bias

What if I asked you,

How bias are you?

You would probably say not as much as other people

This is when you are bias about being bias...

How do you avoid this?

The best way to avoid this is realizing we all have some sort of bias

Once you admit that, you can overcome any bias you encounter, I promise

Your path to success requires you to understand and use bias to your advantage

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