Bias is part of human nature…
It affects the quality of your business decisions without you realising it.
How biased have your recent decisions been?
⚠️ CONFIRMATION BIAS. When you seek out data which fits your assumptions – and you give less weight to contradictory evidence.
⚠️ OVERCONFIDENCE BIAS. Believing your abilities and judgment are better than they are – which leads to risky decision-making and overestimating the probability of your success.
⚠️ ANCHORING BIAS. Over-reliance upon the first piece of information you encountered. Meaning less flexibility and reduced creative problem-solving.
⚠️ AVAILABILITY BIAS. Using information that is close to hand and easily available, instead of casting your net more widely.
⚠️ LOSS AVERSION BIAS. Perhaps you have a tendency to strongly prefer avoiding loss over acquiring gains, making you overly cautious or risk-averse. Or maybe the opposite is true.
Try removing bias from your next important business decision – and see what happens…
#sme #business #ukbusiness #UKBusinessOwners #biases