Podcasts about IKEA effect

We first spoke about this in Episode 218, and now we're returning for a part 2. Cognitive Biases are ways our brains can trick us into certain beliefs and behaviours without realising, and in this episode, I'll cover a few of them such as the IKEA Effect, the Recency Effect, and the Negativity Bias.They're fascinating to learn, but will also give you some insight to make you a better language learner.Show notes page - https://levelupenglish.school/podcast320Sign Up for Free Lessons - https://www.levelupenglish.school/#freelessonsJoin Level Up English - https://courses.levelupenglish.schoolBy becoming a member, you can access all podcast transcripts, listen to the private podcast and join live lessons and courses on the website.

Have you ever found yourself in a leadership role—whether guiding a team, driving a client project, or shaping a business—without an official title? In this episode, I sit down with leadership expert and author Kevin Eikenberry to unpack the power of flexible leadership and how it can drive both relationships and revenue. We explore how great leaders don't just react—they lead with confidence, even in uncertain times. Kevin shares insights from his latest book, Navigate Uncertainty and Lead with Confidence, diving into how leadership is a verb, not a title, and how adaptability is the key to long-term success. We cover everything from defining a clear vision to leading through uncertainty and creating buy-in with your team. Kevin's practical, real-world strategies will help you navigate change, communicate effectively, and inspire action—even when the future feels unpredictable. If you're ready to step into leadership with confidence, this episode is packed with actionable takeaways you won't want to miss! Topics We Cover in This Episode:  The surprising truth about leadership (and why it has nothing to do with your job title) The biggest mistake leaders make when setting a vision—and how to avoid it Why uncertainty isn't your enemy—and how to turn it into an advantage How to adapt when your plans are blown up a week after you make them The “IKEA Effect” and why it's the secret to getting your team fully bought in The one leadership practice you should be doing every single month (but probably aren't) Why over-communicating is the key to trust—and how to do it without sounding repetitive A mindset shift that will completely change how you handle challenges in leadership Tune in now to discover how flexible leadership can help you navigate uncertainty, inspire action, and build lasting success. Resources Mentioned: Kevin's Gift to Listeners Kevin's new book, Flexible Leadership Order your copy of Give to Grow Get the Supplemental materials for Give to Grow Get a copy of your GrowBIG Playbook today!    

Have you ever found yourself in a leadership role—whether guiding a team, driving a client project, or shaping a business—without an official title? In this episode, I sit down with leadership expert and author Kevin Eikenberry to unpack the power of flexible leadership and how it can drive both relationships and revenue. We explore how great leaders don't just react—they lead with confidence, even in uncertain times. Kevin shares insights from his latest book, Navigate Uncertainty and Lead with Confidence, diving into how leadership is a verb, not a title, and how adaptability is the key to long-term success. We cover everything from defining a clear vision to leading through uncertainty and creating buy-in with your team. Kevin's practical, real-world strategies will help you navigate change, communicate effectively, and inspire action—even when the future feels unpredictable. If you're ready to step into leadership with confidence, this episode is packed with actionable takeaways you won't want to miss! Topics We Cover in This Episode:  The surprising truth about leadership (and why it has nothing to do with your job title) The biggest mistake leaders make when setting a vision—and how to avoid it Why uncertainty isn't your enemy—and how to turn it into an advantage How to adapt when your plans are blown up a week after you make them The “IKEA Effect” and why it's the secret to getting your team fully bought in The one leadership practice you should be doing every single month (but probably aren't) Why over-communicating is the key to trust—and how to do it without sounding repetitive A mindset shift that will completely change how you handle challenges in leadership Tune in now to discover how flexible leadership can help you navigate uncertainty, inspire action, and build lasting success. Resources Mentioned: Kevin's Gift to Listeners Kevin's new book, Flexible Leadership Order your copy of Give to Grow Get the Supplemental materials for Give to Grow Get a copy of your GrowBIG Playbook today!  

Have you ever found yourself in a leadership role—whether guiding a team, driving a client project, or shaping a business—without an official title? In this episode, I sit down with leadership expert and author Kevin Eikenberry to unpack the power of flexible leadership and how it can drive both relationships and revenue. We explore how great leaders don't just react—they lead with confidence, even in uncertain times. Kevin shares insights from his latest book, Navigate Uncertainty and Lead with Confidence, diving into how leadership is a verb, not a title, and how adaptability is the key to long-term success. We cover everything from defining a clear vision to leading through uncertainty and creating buy-in with your team. Kevin's practical, real-world strategies will help you navigate change, communicate effectively, and inspire action—even when the future feels unpredictable. If you're ready to step into leadership with confidence, this episode is packed with actionable takeaways you won't want to miss! Topics We Cover in This Episode:  The surprising truth about leadership (and why it has nothing to do with your job title) The biggest mistake leaders make when setting a vision—and how to avoid it Why uncertainty isn't your enemy—and how to turn it into an advantage How to adapt when your plans are blown up a week after you make them The “IKEA Effect” and why it's the secret to getting your team fully bought in The one leadership practice you should be doing every single month (but probably aren't) Why over-communicating is the key to trust—and how to do it without sounding repetitive A mindset shift that will completely change how you handle challenges in leadership Tune in now to discover how flexible leadership can help you navigate uncertainty, inspire action, and build lasting success. Resources Mentioned: Kevin's Gift to Listeners Kevin's new book, Flexible Leadership Order your copy of Give to Grow Get the Supplemental materials for Give to Grow Get a copy of your GrowBIG Playbook today!    

Today, we unpack the book "Predictably Irrational" by Dan Ariely.In this book profile, we explore the fascinating world of behavioral economics, where Dan Ariely reveals how our supposedly rational decisions are actually governed by predictable patterns of irrationality. Charles breaks down key psychological principles that influence our everyday choices, from how relativity affects our satisfaction to why "free" makes us lose our logical thinking abilities.Key topics include:• Relativity and comparison - How we evaluate things based on comparisons rather than absolute value, affecting our satisfaction with purchases and even our salaries• Anchoring and arbitrary coherence - Why the first price we see becomes a mental benchmark that influences all future related decisions• The power of "free" and the distinction between social vs. market norms - How we irrationally respond to free offers and why mixing money with social relationships often backfires• Loss aversion and the paradox of choice - Why parting with possessions feels painful and how too many options lead to decision paralysis• The placebo effect and expectations - How our perceptions shape our reality, from wine tasting to pain reliefPredictably Irrational Book: https://www.amazon.com/Predictably-Irrational-Hidden-Forces-Decisions/dp/006135323X-Website and live online programs: http://ims-online.comBlog: https://blog.ims-online.com/Podcast: https://ims-online.com/podcasts/LinkedIn: https://www.linkedin.com/in/charlesagood/Twitter: https://twitter.com/charlesgood99Chapters: (00:00) Introduction(01:00) How Comparisons Shape Our Decisions (04:00) Technique: Anchoring(07:15) The Magic of "Free" (08:30) Social Norms vs. Market Norms (10:30) Technique: Procrastination and How to Overcome It (12:00) Loss Aversion and the IKEA Effect (13:45) Tip: The Paradox of Choice (15:15) Expectations and How They Shape Our Experience (17:00) The Placebo Effect and Pricing Perception (18:30) Conclusion

“The main question isn't how the world was created, but what we choose to do with it.” (Nechama Lebovitz) "Don't avoid sin because you are too righteous— avoid sin because you are too busy"  (Kotsker Rebbe)

Go to www.LearningLeader.com for full show notes. The Learning Leader Show With Ryan Hawk This is brought to you by Insight Global. If you need to hire 1 person, hire a team of people, or transform your business through Talent or Technical Services, Insight Global's team of 30,000 people around the world have the hustle and grit to deliver. www.InsightGlobal.com/LearningLeader Be optimistic in the face of uncertainty. We discover who we are by doing it. We learn who we are in practice, not in theory. The only way to fully know if you can do it, is to do the thing. Take action. Fail sometimes. Then keep going. The explore-exploit dilemma. Do we keep on the same path and stick to what we know works or do we go out into the unknown? Do we invest in R&D with no guarantee that it will pay off? This reminds me of Scott Galloway on episode #578, In order to do anything of significance in your life, you must take an uncomfortable risk.” The Hard is what makes it good. From Jimmy Dugan (Tom Hanks) in A League of Their Own. The HARD stuff adds texture to time. The effort needed is a source of meaning. Similar to the Ikea paradox. There is more meaning in the piece of furniture if you assemble it. We shouldn't run away from the hard things (like Dottie Hinson was doing in A League of Their Own)> We should run towards them. The effort is where find a source of meaning. Opened with gratitude for him helping me with my first book, Welcome to Management.  The beginnings of chapters/stories. What's most important and what's interesting? Use the best story you have. The beginning is super important. Time with Friction - “I don't want it to be easier.” Challenge and complexity make it more meaningful. It's less meaningful if it's not challenging. Effort is a source of meaning. The Ikea Effect. A piece of furniture is worth more to you if you put it together. Why do you keep pushing your limits? What am I getting out of this? Is there some intrinsic pleasure? We are wired to explore, push our limits We are also wired to be lazy, to rest in between hunts. Dichotomy there. Some are nomadic and some settle. It's useful to have both. Alex and his wife take their daughters with them on adventures. They earn a feeling like, “I can do anything.” Adding voluntary hardship to a child's life can be helpful. If it's a foregone conclusion, it's not interesting. This is why people love live sports. We don't know how it's going to end. Uncertainty makes it interesting. The same is true for life. Uncertainty - We're willing to pay a lot to not know the ending. The arc is important. “Bold beginning of uncertain outcomes.” Alex was shy and didn't introduce himself to girls. “I would have had a better time if I wasn't scared to ask someone out.” My first job getting rejected 60 times a day. Useful. His job as a newspaper intern having to go to people's houses after their family member died in a car accident and talk with them. Made everything else seem easier. Quote to open the book: “To say that we should not change wines is heresy; the tongue becomes saturated, and after the third glass even the best bottle yields but an obtuse sensation.” – Jean Anthelme Brillat-Savarin Waffles – They are great. But if you have them every day, you lose the magic. A metaphor for life. Life/Career Advice: Be optimistic in the face of uncertainty. Have both the exploring and exploiting mindset. Explore widely. We discover who we are by doing it. Have to do the thing.

What does an egg and furniture assembly have to do with sticky marketing? Turns out - a lot. In this episode of High Conversion Health Marketer, Linda Melone examines the cognitive bias known as the IKEA effect. You'll hear about its surprising role in boosting customer loyalty and sales. You'll also discover how a simple change, like Betty Crocker asking home bakers to add an egg, can take your marketing results to new levels. Linda shares three practical ways to apply this psychological bias through interactive content, product customization, and member-driven programs. Stick around for actionable takeaways designed to keep your audience invested, engaged, and coming back for more. Let's go!*****The ROI for a successful marketing email is $36 for every $1 spent. If you're not seeing these results from your email sequences, check out my new, Done-For-You Email sequence, one which has earned my clients major contracts and boosted conversions. Check it out HERE. https://lindamelone.gumroad.com/l/hrewr *****Follow Linda on all her socials:www.linktr.ee/lindameloneAnd subscribe to her weekly newsletter for more exclusive tips:https://thecopyworx.com/newsletter/

I've spent weeks writing handwritten letters rather than emails. I'm running an experiment inspired by today's guest, Harvard Professor Mike Norton. Mike's the scientist behind the IKEA Effect, and in today's Nudge, he explains how that bias could help me gain more reviews. Did it work? Find out on today's episode of Nudge. Mike's book Ritual Effect: https://tinyurl.com/mwbvws3n Watch Nudgestock: https://www.youtube.com/@nudgestock Control emails: https://im.ge/i/Control-emails.fEPKZW Handwritten emails: https://im.ge/i/handwritten-emails.fEPfX0 Stats for the control email: https://im.ge/i/Control.fEP9YK Stats for the handwritten email: https://im.ge/i/Handwritten-variant.fEP5hF Subscribe to the (free) Nudge Newsletter: https://nudge.ck.page/profile

Welcome to Nerd Alert, a series of special episodes bridging the gap between marketing academia and practitioners. We're breaking down highly involved, complex research into plain language and takeaways any marketer can use.In this episode, Elena and Rob explore why customer participation in product assembly or creation can significantly boost perceived value and brand attachment, even when the result isn't perfect.Topics covered:   [01:00] "The IKEA Effect: When Labor Leads to Love"[02:00] How DIY assembly affects willingness to pay[03:15] The universal appeal across DIY skill levels[04:00] When the IKEA effect backfires[06:45] Applications beyond physical products[07:30] AI collaboration and user engagement  To learn more, visit marketingarchitects.com/podcast or subscribe to our newsletter at marketingarchitects.com/newsletter. Resources: Norton, Michael I., Daniel Mochon, and Dan Ariely. "The 'IKEA Effect': When Labor Leads to Love." Working Paper, No. 11-091, 2011.  Get more research-backed marketing strategies by subscribing to The Marketing Architects on Apple Podcasts, Spotify, or wherever you listen to podcasts. 

Onion expertise. The Ikea Effect & The mythology of the Betty Crocker cake mix research. This episode has it all.Jeff Louden on LinkedInConnect with Sam on LinkedInThanks to my talented colleague Emily Tolmer for the cover art. Thanks to my friends at Moon Island for the music. Hosted on Acast. See acast.com/privacy for more information.

We've hit a big milestone: 300 episodes! And in typical fashion Matt Armitage and Richard Bradbury have decided to celebrate it next week with an AMA-style episode diving into your biggest fears about the future. From AI taking over jobs to the role of Big Tech, healthcare, climate change, and the future of streaming services – nothing's off the table!So, what are they on about today? Tech giants like Google, Amazon, and Microsoft turning to nuclear power, for starters. Matt seems strangely happy about the idea of small modular reactors (SMRs), if only to meet the massive energy needs of AI data centres.Most of all, they spend most of the episode avoiding the real topic, thus outlining the effort paradox: why we avoid effort even when it's good for us.TLDR re:effort? Don't forget to drop us your burning questions about the future on our socials. We'll do our best to ease your existential tech dread!

IKEA has been in the game for about 80 years, earning a spot as the largest furniture retailer in the world. From the meatballs, to the maze, to the DIY furniture, IKEA is a force in our culture and our homes. David is exploring how the company became so ubiquitous worldwide, and what it's doing to keep up with the next generation of shoppers.Featured guests: Reporter Katie Deighton of the Wall Street Journal and Holly J. Morris, NPR Training Editor. Listen to Business Wars on the Wondery App or wherever you get your podcasts. Experience all episodes ad-free and be the first to binge the newest season. Unlock exclusive early access by joining Wondery+ in the Wondery App or on Apple Podcasts. Start your free trial today by visiting wondery.com/links/business-wars/ now.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Welcome to episode #942 of Six Pixels of Separation - The ThinkersOne Podcast. Here it is: Six Pixels of Separation - The ThinkersOne Podcast - Episode #942. Harvard Business School professor, Michael Norton, knows a thing or two about human behavior. His research dives deep into behavioral economics and well-being, covering everything from happiness and spending to the fascinating world of rituals. Michael's work has been spotlighted in major media outlets and his TED Talk, How To Buy Happiness, has racked up close to 5 million views. He's also known for his co-authored book, Happy Money - The Science of Happier Spending. Now, he's back with his latest book, The Ritual Effect. In our conversation, Michael explores the impact of rituals in our daily lives and the broader implications for businesses and society. Michael explains that while habits are the repetitive tasks we perform automatically, rituals are those same tasks imbued with intention and meaning. This shift from a “habitual” mindset to a “ritual” mindset can transform mundane activities into something much more significant. We touch on the distinction between habits and rituals, and how rituals, unlike habits, add depth and color to our lives. Michael shares insights from The Ritual Effect, where he uncovers how rituals help heal communities, mark life's major transitions, and even drive sports fans to a frenzy. Michael emphasizes the importance of understanding different perspectives and the role of rituals in creating a sense of purpose and connection. We also discuss the practical aspects of rituals and how they can be used to enhance both personal and professional lives. Michael's research shows that rituals, whether they're as simple as the way we savor a beverage or as complex as family traditions during holidays, bring surprising satisfaction and enjoyment. The Ritual Effect is a compelling reminder of the power of intention-filled acts and their impact on human behavior and our business. Whether you're looking to add more meaning to your daily routines or understand the deeper significance of rituals and how they impact your work, Michael's insights offer a fresh perspective on how we can live and work more purposefully. Enjoy the conversation... Running time: 1:09:20. Hello from beautiful Montreal. Subscribe over at Apple Podcasts. Please visit and leave comments on the blog - Six Pixels of Separation. Feel free to connect to me directly on Facebook here: Mitch Joel on Facebook. Check out ThinkersOne. or you can connect on LinkedIn. ...or on Twitter. Here is my conversation with Michael Norton. The Ritual Effect. Happy Money - The Science of Happier Spending. Michael's TED Talk: How To Buy Happiness. Follow Michael on LinkedIn. Follow Michael on X. This week's music: David Usher 'St. Lawrence River'. Takeaways Rituals are different from habits in that they involve a deeper level of thought and meaning. Rituals can be found in various domains of life, from religious ceremonies to everyday activities like drinking coffee. Rituals can enhance our emotional experiences and add richness to our lives. Superstitions are a subset of rituals and are often associated with avoiding something bad. Rituals can be both unifying and divisive, depending on how they are perceived and practiced. Taking an inventory of our rituals can help us recognize their presence in our lives and potentially add more meaning and emotion to them. Rituals have the power to create meaning, build connections, and shape our behavior. Organizations should deliver on their promises and create meaningful experiences to build loyalty and engagement. Rituals play a significant role in relationships and family dynamics, helping to create a sense of connection and shared meaning. The science behind rituals shows that they can have psychological effects and change how we think and feel. Designing rituals with intentionality can enhance their impact and create more meaningful experiences. Chapters: 00:00 - Introduction and Background. 03:00 - The Difference Between Habits and Rituals. 09:04 - The Role of Rituals in Religion and Spirituality. 13:10 - The Potential Dangers of Rituals Becoming Superstitions. 20:47 - Taking an Inventory of Our Rituals. 36:51 - The Impact of Rituals on Individuals and Organizations. 41:28 - The Role of Rituals in Leadership and Organizational Culture. 44:12 - Rituals in Relationships and Family Dynamics. 46:49 - The Science Behind Rituals. 49:30 - The Marketing Power of Rituals. 52:44 - Ethics and the Impact of Rituals. 56:12 - The Universal Significance of Breaking Bread. 58:14 - The Ritual Effect of the Diamond Ring. 01:00:29 - The IKEA Effect and its Business Implications. 01:03:26 - Designing Rituals with Intentionality.

In this episode of Remarkable People, host Guy Kawasaki explores the fascinating world of rituals with renowned Harvard Business School professor Mike Norton. Together, they dive into the surprising power of everyday actions, from the IKEA effect to the role of rituals in enhancing our emotional experiences and relationships. Discover how incorporating simple rituals into your daily life can boost your happiness, productivity, and overall well-being. Whether it's a morning routine, a family tradition, or a personal celebration, learn how to harness the remarkable potential of rituals to make your life more meaningful and remarkable.---Guy Kawasaki is on a mission to make you remarkable. His Remarkable People podcast features interviews with remarkable people such as Jane Goodall, Marc Benioff, Woz, Kristi Yamaguchi, and Bob Cialdini. Every episode will make you more remarkable. With his decades of experience in Silicon Valley as a Venture Capitalist and advisor to the top entrepreneurs in the world, Guy's questions come from a place of curiosity and passion for technology, start-ups, entrepreneurship, and marketing. If you love society and culture, documentaries, and business podcasts, take a second to follow Remarkable People. Listeners of the Remarkable People podcast will learn from some of the most successful people in the world with practical tips and inspiring stories that will help you be more remarkable. Episodes of Remarkable People organized by topic: https://bit.ly/rptopology Listen to Remarkable People here: https://podcasts.apple.com/us/podcast/guy-kawasakis-remarkable-people/id1483081827 Like this show? Please leave us a review -- even one sentence helps! Consider including your Twitter handle so we can thank you personally! Thank you for your support; it helps the show!

On today's episode of the Off the Clock Show with hosts Shawn Gervais from OrbisX and Marshall Hill from hyperClean Car Care Products we discussed how you can use the IKEA Effect to sell more maintenance plans, generate recurring business and a great new integration with OrbisX that is underway to support the entire process with an example from Shawn's shop that they are implementing right now. We also discussed perseverence and the importance or maintaining the course to overcome hurdles in your business with some personal stories. The Just the Tip segment on the Off the Clock Show which is brought to you by OrbisX CRM for detailers and hyperClean car care products to help you succeed in your detailing business

Did you know about the Ikea effect? People value objects more when they assemble them themselves, which is why DIY is booming. In today's episode, we'll explore how fixing things around your home can save you money and give you a sense of accomplishment. From creaky doors to broken toasters, learn how to make repairs yourself, bond with friends, and enjoy the process. Tune in for practical tips, a fun fact about furniture, and a habit that keeps your mind calm and hands busy.See omnystudio.com/listener for privacy information.

In the episode of The Brainy Business podcast, Dr. Michael Norton, a professor at Harvard Business School and author of The Ritual Effect, explores the significance of rituals in our lives. Michael delves into the distinctions between habits, routines, and rituals, emphasizing the emotional depth and purpose that rituals add to our actions. He shares insights into the role of rituals in various domains, from sports to work, family, and personal routines. Drawing from his interest sparked by unique mourning practices in the American Civil War, Michael discusses how rituals can serve as tools for coping, connection, and a sense of progress.  His expertise and research on the subject make this episode a valuable resource for individuals seeking a deeper understanding of how rituals can enhance well-being and provide a sense of purpose in daily life. The episode offers a comprehensive exploration of the topic, making it a compelling listen for anyone looking to incorporate more meaning and connection into their everyday experiences. In this episode: Explore the Profound Impact of Rituals on Daily Well-being Discover the Power of Incorporating Rituals for Deeper Meaning and Connection Uncover the Role of Rituals in Fostering Stronger Team Dynamics and Communication Delve into the Importance of Rituals for Cultivating a Sense of Purpose in Daily Life Understand the Transformative Influence of Rituals on Personal and Professional Well-being Show Notes: 00:00:00 - Introduction Melina introduces Dr. Michael Norton, author of the Ritual Effect, and shares his background as a professor of business administration at Harvard Business School. 00:01:49 - The Difference Between Habits and Rituals Michael explains the difference between a habit, a routine, and a ritual, using the example of daily behaviors like showering and toothbrushing. Habits are routine actions, while rituals have more emotional meaning and significance. 00:07:06 - The Origin of Interest in Rituals Michael shares how his interest in rituals began with reading about grief rituals in the American Civil War and the individual, personal rituals people create to honor loved ones. The variety and personal nature of rituals sparked his curiosity. 00:10:55 - Research Process and Cultural Comparisons Michael discusses the research process for studying rituals, including comparing and contrasting rituals across different cultures. He highlights how individual, private rituals play a significant role in people's lives, especially during times of grief. 00:13:08 - Rituals in Sports and Unconscious Rituals The conversation explores how rituals are used in sports and how some rituals are performed unconsciously. Michael emphasizes the significance of both conscious and unconscious rituals in various aspects of life, from sports to personal routines. 00:13:42 - The Role of Rituals in Sports and Work Michael discusses the significance of rituals in sports and work, highlighting how they offer a unique insight into human behavior and the acceptance of certain behaviors in different contexts. 00:16:01 - The Importance of Rituals Michael delves into the importance of rituals and their role in various domains of life, such as performance, dining, family holidays, and grief. He emphasizes how rituals serve as coping mechanisms and tools to navigate different life situations. 00:17:59 - Rituals in the Workplace The conversation shifts to the use of rituals in the workplace, from the start of the day to interactions within teams and the process of leaving work behind at the end of the day. Michael highlights how rituals permeate different aspects of work life. 00:20:07 - Transitioning to Remote Work and Rituals Michael explores the adaptation of rituals in the context of remote work, citing examples of individuals creating new rituals to mark the transition between home and work environments. The discussion touches on the impact of collective experiences, such as the COVID-19 pandemic, on the evolution of rituals. 00:22:52 - Creating Meaningful Family Rituals Michael emphasizes the dual role of rituals in families, serving as reminders to gather and as expressions of unique family identity. He shares insights on the significance of family rituals in preserving connections, honoring traditions, and creating lasting memories. 00:28:18 - The Importance of Team Rituals Michael discusses the benefits and downsides of team rituals, emphasizing how they create a smooth dynamic but can lead to conflicts with other groups' practices. 00:30:03 - Creating Meaningful Team Rituals Michael suggests that team rituals should be organic and based on shared language or practices within the group, such as how meetings are started. He highlights the emotional resonance of self-crafted rituals over forced corporate ones. 00:32:20 - Unintended Bonding Through Manager-Imposed Rituals Michael points out that even when managers mandate rituals, it can inadvertently bond employees against the manager. He compares this to how parents' disciplinary actions can unite children against them. 00:35:25 - Embracing Idiosyncrasies and Personal Rituals Michael and Melina discuss the significance of personal rituals in calming oneself and getting into a specific mindset, such as preparing for presentations. They emphasize the commonality and quirkiness of human rituals. 00:40:40 - The IKEA Effect and Personal Rituals Michael explains the IKEA effect, where people value things they create more than pre-made ones. He ties this concept to personal rituals, highlighting the different meaning imbued in self-crafted rituals compared to externally derived ones. 00:41:32 - The Importance of Personalizing Rituals Michael discusses the significance of personalizing rituals, emphasizing the value of adding individuality to common activities and the role of rituals in fostering connection and ownership. 00:42:03 - Observing and Incorporating Rituals Michael highlights the importance of observing existing rituals and incorporating them into daily life. He also explores the potential for experimenting with new traditions to enhance experiences and connections. 00:43:14 - Conclusion Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Michael: Michael's Website LinkedIn Twitter Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: The Ritual Effect, by Michael Norton Good Habits, Bad Habits, by Wendy Wood For the Culture, by Marcus Collins The Power of Us, by Dominic Packer What Your Employees Need and Can't Tell You, by Melina Palmer Top Recommended Next Episode: The Ikea Effect (ep 380) Already Heard That One? Try These:  Nick Hobson Interview (ep 382) Wendy Wood Interview (ep 127) Habits (ep 256) Dominic Packer Interview (ep 304) Marcus Collins Interview (ep 305) Nostalgia (ep 79) Endowment Effect (ep 139) Vulnerability Loops (ep 229) Priming (ep 252) Cassie Holmes Interview (ep 257) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter

In this episode of The Brainy Business podcast, host Melina Palmer delves into the concept of the IKEA effect, highlighting its influence on consumer behavior and business strategies. Drawing from real-life examples, Palmer emphasizes the significance of recognizing and celebrating employees' contributions in fostering a culture of innovation and engagement. By involving employees in development and change initiatives, businesses can tap into the innate need for ownership and connection.  The episode also underscores the importance of understanding human psychology and behavior as crucial elements in driving successful business outcomes. With valuable insights into leveraging the IKEA effect to optimize business strategies and enhance customer connections, the episode is a must-listen for business leaders and managers seeking to increase employee engagement and innovation. In this episode: Understand the psychological impact of the IKEA effect on consumer behavior and decision-making processes. Leverage consumer effort and engagement to drive business success. Explore the impact of perceived value on pricing strategies and consumer perception. Increase employee engagement and intrinsic motivation for enhanced productivity and innovation. Harness human psychology to drive business growth and success. Show Notes: 00:00:00 - Introduction Melina introduces the concept of the Ikea effect and its relevance in understanding consumer behavior. She explains how people value items they have built themselves more than those built by others. 00:03:43 - Understanding the Ikea Effect Melina delves into the difference between the Ikea effect and the endowment effect. She discusses studies on origami building and how individuals place higher value on their own creations, regardless of expertise. 00:09:15 - The Effort Heuristic The episode explores the concept of the effort heuristic, where people associate effort with quality, even when they are not the ones putting in the effort. Examples from research studies on art and poetry illustrate this phenomenon. 00:13:26 - Ambiguity and Effort Perception Melina discusses how perceived effort influences the valuation of ambiguous quality. Studies on medieval suits of armor reveal how the perception of effort impacts the perceived quality and value of an item, even when its quality is not easily determined. 00:16:35 - The Effort Heuristic and the IKEA Effect The discussion explores the relationship between the effort heuristic and the IKEA effect, highlighting how people value things higher when they put effort into them. 00:18:04 - Billing by the Hour The conversation delves into the challenges of billing by the hour and how it may reduce the perceived effort and value of a project, leading to misconceptions about the time and expertise required. 00:19:52 - Valuing Time and Talent The story of the engineer's minimal intervention with the cruise ship's engine illustrates the hidden time and talent that goes into certain tasks, emphasizing the need to recognize and justify the value of expertise and effort. 00:22:26 - Effort and Value Perception The discussion explores the concept of effort and value perception, citing examples of how human behavior and preferences are influenced by the perceived level of effort required for a task or product, such as with instant cake mix and build-a-bear workshops. 00:26:39 - Leveraging the IKEA Effect The conversation emphasizes the potential uses of the IKEA effect in product businesses, change management, and team dynamics, highlighting the importance of providing guidance and opportunities for creative input to enhance customer satisfaction and value perception. 00:31:45 - The Importance of Employee Feedback and Recognition Employee feedback and recognition play a crucial role in motivating employees. Celebrating employees' ideas, aligning incentives, and acknowledging their contributions can foster a culture of change and increase employee buy-in. 00:32:20 - The Power of Incentives and Social Proof Aligning incentives with the Ikea effect and using social proof can encourage employees to actively participate in change initiatives. Monetary incentives are not as effective as public recognition and acknowledgment. 00:33:19 - The Psychological Impact of the Ikea Effect The Ikea effect goes beyond marketing and change initiatives. It reflects human nature and the desire to feel connected and invested. Involving customers and employees in the creation and development process can lead to a strong sense of ownership. 00:34:09 - Human Behavior in the Age of AI Despite the increasing integration of AI and machine learning, human behavior remains essential. Businesses need to tap into the Ikea effect and other psychological concepts to enhance effectiveness and foster a sense of connection and investment. 00:35:25 -  Conclusion Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode:  Let's Talk, by Therese Huston The Ritual Effect, by Michael Norton What Your Employees Need and Can't Tell You, by Melina Palmer What Your Customer Wants and Can't Tell You, by Melina Palmer Happy Money, by Michael Norton   Top Recommended Next Episode: Endowment Effect (ep 139) Already Heard That One? Try These:  Inequity Aversion (ep 224) Confirmation Bias (ep 260) Focusing Illusion (ep 330) Change Management (ep 226) Loss Aversion (ep 316) Nick Hobson Interview (ep 161) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter The Effort Heuristic When and How Does Labor Lead to Love? The Ontogeny and Mechanisms of the IKEA Effect The IKEA Effect: When Labor Leads to Love The IKEA Effect. A Conceptual Replication Anomalies The Endowment  Effect, Loss Aversion, and Status Quo Bias Little Red Wrench story from Nikki Rausch

Shiur given by Rabbi Benzion Brodie on Mussar. Shiur recorded in Yeshivas Ohr Reuven, Monsey, NY.

Balancing Technology and Human Support in CX Shep Hyken interviews Venk Korla, President and CEO of HGS Digital. He talks about the integration of AI technology in customer support to create personalized, empathetic experiences.   This episode of Amazing Business Radio with Shep  Hyken answers the following questions and more:   How is artificial intelligence used to improve customer interactions in contact centers? What are the challenges in finding the right balance between technology and human support in customer experiences? What frustrations do customers face when dealing with customer service, and how can AI address them? How can AI be used to personalize and contextualize customer experiences in contact centers? What tools can be provided to improve employee satisfaction and performance in customer service?  Top Takeaways:     ·Balancing technology and human support is essential, as both play a role in customer satisfaction. When creating a positive customer experience, understanding the value of personalization and empathy is crucial. Companies can build strong connections and foster loyalty by tailoring interactions to individual customers and showing genuine care and understanding. ·Companies can now use  AI to transcribe and analyze customer service calls to gain valuable insights into customer interactions and enhance the quality of support that they provide. AI technology has the potential to make customer interactions more transparent and inclusive for both customers and support agents.  ·Investing in employee satisfaction and providing the right tools for job performance is essential for creating a positive customer experience. Employees who feel supported and equipped to handle their roles effectively are better positioned to deliver exceptional service. ·When offering self-service options, provide clear, frustration-free instructions to empower customers to resolve their own issues. Venk brought up a concept known as the Ikea Effect. Similar to the enjoyment and fulfilling experience Ikea customers have assembling furniture on their own, customers become fulfilled and even elated when they solve problems without having to call customer support.  ·While AI and technology can streamline interactions and provide insights, the human touch, empathy, and personalized support remain essential in creating meaningful customer connections. Integrating technology with human support can enhance the overall customer experience. ·Plus, Shep and Venk discuss findings from the CX Buyers' Insights Report, revealing what CX decision-makers will invest in and focus on for 2024 and beyond. Tune in! Quote:  "Omnichannel traditionally means that a brand can serve its customers in different channels. Today, the goal is to have continuity of service because customers go from channel to channel interacting with the brand." About: Venk Korla is the President and CEO of HGS Digital. He has helped Global 1000 companies, healthcare institutions, universities, and non-profit organizations create digital strategies and solutions. Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and host of Amazing Business Radio.   Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of The Brainy Business podcast, host Melina Palmer explores the intriguing concept of the Hawthorne Effect and its implications for employee behavior and productivity. Drawing from her wealth of experience in behavioral science, Melina adeptly navigates the significance of monitoring in the workplace, emphasizing the need for transparency and employee involvement. She expertly highlights the benefits and potential drawbacks of monitoring, offering valuable insights into the complexities of human behavior and their implications for businesses.  The episode captures Melina's passion for behavioral design and her dedication to unraveling the multifaceted factors that influence employee performance. Through real-world examples and thought-provoking discussions, Melina compellingly presents the case for why business managers should tune in to gain a deeper understanding of the Hawthorne Effect and its relevance in driving organizational success. With a conversational and engaging tone, Melina invites listeners to join her in exploring the intricacies of employee behavior and its practical implications for business management. In this episode: Improve productivity and behavior with effective monitoring strategies. Uncover the powerful impact of the Hawthorne effect on employee performance. Embrace transparency in monitoring to foster a culture of trust and accountability. Explore the benefits and drawbacks of employee monitoring for informed decision-making. Navigate the complexities of interpreting results to avoid confirmation bias. Show Notes: 00:00:00 - Introduction Melina Palmer introduces the episode and discusses the focus on the Hawthorne Effect, which explores how behavior changes when people know they are being watched or observed. 00:02:07 - The Hawthorne Studies Melina discusses the Hawthorne Studies conducted at Western Electric's Hawthorne location in the 1920s. These studies aimed to understand how changes in worker conditions would impact productivity and were among the first to incorporate worker opinions and mindset into planning processes. 00:04:43 - Factors Influencing Results The experiments at the Hawthorne location showed that providing input and treating workers as human beings with opinions and worth resulted in increased productivity. However, modern researchers have identified that too many factors were being changed simultaneously, and the special treatment given to the group of women also influenced the results. 00:06:53 - Understanding the Hawthorne Effect The Hawthorne Effect states that when people know they are being observed or that an experiment is taking place, it changes their behavior. This can impact the results of experiments and studies. Researchers often hide the true intent of the study to avoid bias caused by participant awareness. 00:10:19 - Avoiding Observer Bias In certain cases, it is important to avoid observer bias by ensuring that people are not aware they are being watched or observed. This is done to obtain a natural view of behavior and prevent participants from altering their actions. Secret shoppers and incognito observation methods are commonly used in these situations. 00:15:47 - The Impact of Monitoring on Workers Monitoring can be helpful in boosting productivity, but it can also make workers feel rushed and stressed. It's important to involve workers in the monitoring process and address their concerns to avoid negative impacts on performance. 00:17:19 - Importance of Involving Workers in Monitoring When monitoring more complex tasks, it's crucial to ask for workers' input and involve them in the process. This helps them understand the reasons behind monitoring and ensures they feel valued and supported. 00:18:14 - Benefits of Monitoring for Security and Behavior Monitoring can deter theft and encourage good behavior. Security cameras can make people act differently when they know they're being watched. However, over-monitoring or constant visits can lead to immunity and reduced impact. 00:19:41 - Avoiding Confirmation Bias and the Hawthorne Effect Researchers should be cautious of confirmation bias and the Hawthorne effect, which can bias results and hinder finding the real problem or solution. Digging deeper and considering motivations and incentives is crucial. 00:21:32 -  Conclusion Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Behavioral Science in the Wild, by Dilip Soman and Nina Mazar What Your Customer Wants and Can't Tell You, by Melina Palmer A More Beautiful Question, by Warren Berger Both/And Thinking, by Wendy Smith and Marianne Lewis Designing for Behavior Change, by Stephen Wendel Top Recommended Next Episode: Using Ethnography to Understand Your Customers (ep 324) Already Heard That One? Try These:  Dilip Soman Interview (ep 241) Understanding the Problem  (ep 126) How Simple Nudges Can Save Hundreds of Millions (ep 140) Designing for Behavior Change (ep 116) Incentives (ep 36) Confirmation Bias (ep 260) How to Setup Your Own Experiments (ep 63) Time Pressure (ep 74) Priming (ep 252) Focusing Illusion (ep 330) Loss Aversion (ep 316) Ikea Effect (ep 112) Confirmation Bias (ep 260) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Systematic Review of the Hawthorne Effect: New Concepts Are Needed to Study Research Participation Effects The Hawthorne Effect and Behavioral Studies The “Hawthorne Effect” — What Did the Original Hawthorne Studies Actually Show? The Hawthorne Effect – Or Why Everything Works Hemming and Hawing over Hawthorne: Work Complexity and the Divergent Effects of Monitoring on Productivity Hawthorne Effect Hawthorne Studies Podcast Movement Virtual Could You Leverage Podcast Guesting to Grow Your Visibility? Louise Brogan: The Social Bee Ian Anderson Gray

Tune in to hear:- Why do overly linear, or bullet-pointy, stories tend to fall short? What are the risks of making your backstory too similar to a resume?- What is the psychological principle “peak-end rule” and how can it be applied to better your backstory?- Why is knowing your audience such an important part of effective storytelling?- Why “time of possession” is so important, especially in discovery meetings- Why is differentiation such an important part of storytelling and how can we stand apart in a field that is getting quite crowded?- Why is simplicity such a powerful tool to channel in storytelling?- What is the “Ikea Effect” and how can a bit of well-placed complexity create more buy in to your backstory? How do you find the sweet spot between simplicity and complexity?https://www.stacyhavener.comhttps://www.billiondollarbackstory.comCompliance Code: 0036-OAS-1/5/2024Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Custom Indexing offered through Orion Portfolio Solutions, LLC a registered investment advisor.

In this episode of The Brainy Business podcast, you will hear an insightful conversation between host Melina Palmer and guest Ben Guttmann, author of Attention!: The Power of Simple Decisions in a Distracted World. Guttmann shares his expertise on the importance of simplicity in communication and offers practical advice on creating messages that resonate with the audience. Through examples and analogies, Guttmann highlights the "Frankenstein problem" of overloading messages with too much information, stressing the need for focus and clarity. He emphasizes the concept of fluency in messaging and how it leads to simplicity and resonance.  The episode also delves into the paradox of choice, the difference between nice and kind messaging, and the significance of context in crafting effective messages. If you're a communicator or marketer looking to improve your messaging and connect with your audience on a deeper level, this episode is a must-listen. In this episode: Master the art of simplicity in communication to captivate your audience and convey your message with clarity and impact. Create messages that cut through the noise and resonate with your target audience, leading to higher engagement and conversion rates. Harness the power of context in your messaging to ensure your audience understands the relevance and importance of your message, increasing its effectiveness. Craft messages that leave a lasting impact on your audience, turning them into loyal customers and advocates for your brand. Avoid the pitfalls of fragmented communication by delivering cohesive and consistent messages that strengthen your brand and build trust with your audience. Show Notes: 00:00:00 - Introduction, Melina Palmer introduces Ben Guttmann, author of the book Simply Put, and provides a brief overview of his background in marketing and communications. 00:03:10 - Example of Simple Messaging Ben shares an example of a project he worked on for a power plant in New York City. The power plant needed an internal rallying cry to help employees feel a sense of identity and purpose. The slogan they developed, "Making New York Happen," became a powerful message that resonated with the employees. 00:06:47 - Internal Messaging with External Potential Ben discusses another project he worked on, a pro bono campaign to combat littering in New York City parks. The campaign aimed to tap into the identity of being a "real New Yorker" and encourage people to not litter. Although the campaign was not launched due to timing issues, it demonstrates how internal messaging can have external potential. 00:10:57 - Empathy in Messaging Ben emphasizes the importance of empathy in messaging. He explains that effective messaging should meet people where they are and speak their language. Understanding the audience's perspective and using language that resonates with them is key to creating impactful messages. 00:12:50 - Simplifying Complex Messages Ben and Melina discuss the challenge of simplifying complex messages. Ben highlights the importance of finding the core message and eliminating unnecessary complexity. By focusing on the key point and delivering it clearly, messages can become more memorable and effective. 00:14:49 - The Problem of Having Too Much Stuff in Your Message Ben discusses the common problem of having too much information in a message, leading to a lack of focus and effectiveness. He uses the analogy of a website redesign and refers to his own website as "Franken-site" to illustrate this issue. 00:17:14 - The Frankenstein Idea in Communication Ben introduces the concept of the "Frankenstein idea" in communication, where multiple components are put together in a message without considering their compatibility. He compares it to the monster in Mary Shelley's Frankenstein, highlighting the importance of focus and coherence in communication. 00:20:56 - The Sender and Receiver in Communication Ben emphasizes the distinction between senders and receivers in communication. He explains that as senders, it is our responsibility to ensure our message is heard and understood by the receivers, as they are not inherently interested in what we have to say. Humility and effective messaging are key. 00:23:03 - The Burden of the Sender Ben discusses the burden of the sender in communication. He highlights that it is the sender's responsibility to create a message that is valuable and engaging for the receiver, as they do not wake up wanting to hear the sender's message. The sender must pay the postage to ensure their message is heard. 00:29:41 - The Power of Focusing on One Idea It's better to pick one piece of an idea and focus on it, even if it's not the strongest. Commitment leads to better messaging and concept development. 00:31:26 - Mediocre Feedback vs. Love or Hate Mediocre feedback is worse than receiving love or hate for your work. The distance between love and hate is shorter than between apathy and passion. A little bit of nuance and commitment can turn an imperfect concept into something better. 00:33:22 - The Paradox of Choice Having too many options can lead to indecision and apathy. When there are fewer options, people are more likely to rally behind and appreciate what they have chosen. 00:35:04 - The Importance of Kindness in Messaging Kindness in messaging goes beyond being nice. It means caring about the well-being and outcome of the receiver. Simple and clear messages, like a parking sign that says "Don't even think about parking here," can be kind and effective. 00:39:57 - Respecting People's Time It's important to respect people's time and not waste it with cluttered or irrelevant messaging. When messages are concise and get to the point, people are more likely to pay attention and take action. 00:44:22 - The Importance of Contrast Ben emphasizes the importance of contrast in communication, stating that without quiet, there can be no loud. He explains that knowing what exists is crucial in order to stand out and connect with your audience. 00:44:56 - Standing Out and Resonating Ben discusses the significance of context and resonating with your audience. He highlights the need to understand what resonates with your audience in order to make an impact. 00:45:20 - Connecting and Getting More Information Ben directs listeners to his website, Benguttmann.com, where they can find his blog, sign up for his newsletter, and download the first chapter of his book for free. He encourages connecting with him on LinkedIn or other platforms. 00:45:53 -  Conclusion, Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Ben: Ben's website Ben's LinkedIn Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Simply Put, by Ben Guttmann Subtract, by Leidy Klotz For The Culture, by Marcus Collins The Hype Handbook, by Michael Schein What Your Customer Wants And Can't Tell You, by Melina Palmer Top Recommended Next Episode: The Hype Handbook with Michael Schein (ep 350) Already Heard That One? Try These:  Do You Subtract Enough? w/ Leidy Klotz (ep 322) Framing (ep 296) Availability Bias (ep 310) Bikeshedding (ep 99) Curse of Knowledge (ep 176) Understanding the Problem (ep 126) For the Culture (ep 305) Herding (ep 264) Social Proof (ep 87) Ikea Effect (ep 112) What Is Value? (ep 234) Paradox of Choice (ep 171) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Why Many Men Think They Could Win a Point Off Serena Williams

The IKEA effect is a powerful psychological phenomenon that entrepreneurs can leverage to transform the product development process into an interactive and emotionally fulfilling journey. By empowering customers through co-creation, DIY experiences, and iterative design, entrepreneurs can strengthen the emotional connection between customers and their products. Engaging customers in the journey, storytelling, and community-building fosters brand loyalty and advocacy. As entrepreneurs embrace the IKEA effect in their product development strategies, they tap into the intrinsic motivations of customers, creating products that are not just possessions but cherished creations born out of collaboration and shared experiences. Season 7 - Behavioral Economics of Entrepreneurship In the world of entrepreneurship, success often hinges on understanding the intricate workings of human behavior and decision-making. Behavioral economics, a fascinating interdisciplinary field, delves into the psychology behind how individuals make choices, respond to incentives, and process information. In the realm of marketing, applying behavioral economics principles can be a game-changing strategy for entrepreneurs seeking to connect with their target audience, drive sales, and foster brand loyalty. By harnessing insights from behavioral economics, entrepreneurs can craft more persuasive and effective marketing campaigns, leveraging the quirks of human psychology to their advantage. In this series of the behavioral economics in marketing podcast, we will explore the exciting intersection of behavioral economics and marketing, unveiling how this innovative approach can transform entrepreneurial ventures into resounding successes. Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix. Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master's degree in economics from Rensselaer Polytechnic Institute. 

In this episode of The Brainy Business podcast, you will hear an insightful conversation between host Melina Palmer and guest Jon Levy, author of You're Invited. Jon shares his expertise on using behavioral science in event design and sponsorships to create memorable experiences for attendees. Drawing from his own experiences, Jon emphasizes the power of human connection and relationships in event planning.  He discusses the importance of assembling or working together on projects to foster a sense of connection and engagement. Jon also highlights the peak-end rule, which states that people remember the peaks of experiences and how they end, and shares strategies for creating lasting impressions. He offers valuable insights on engaging high-profile individuals, building trust through vulnerability, and the significance of genuine interest in others. If you are a professional seeking to enhance your understanding of human behavior and apply behavioral science principles to create impactful and attention-grabbing events, this episode is a must-listen. In this episode, you will: Enhance customer engagement and satisfaction by leveraging the power of human connection and relationships. Apply research-backed strategies to create impactful and memorable event experiences that resonate with attendees. Foster meaningful connections among attendees through shared activities, strengthening their bond and creating lasting memories. Build trust and rapport with attendees by demonstrating vulnerability and support, creating an environment where they feel safe and valued. Discover the influential impact of showing genuine interest and curiosity in others, leading to more meaningful connections and enriching event experiences. Show Notes: 00:00:00 - Introduction, Melina introduces the episode and her guest, Jon Levy. She mentions his work as a behavioral scientist and his book, You're Invited, which focuses on human connection, trust, and belonging. 00:03:26 - Behavioral Science and Research Jon discusses his work as a behavioral scientist, including his research studies on dating and consumer behavior. He highlights the importance of applying research findings to real-life situations. 00:07:56 - The Influencers Dinner Jon shares how he started the Influencers Dinner, a secret dining experience where guests couldn't discuss their careers or give their last names. He explains how the dinners helped create connections and a sense of belonging among industry leaders. 00:09:34 - Building a Community Jon explains how the Influencers Dinner evolved into a larger community of industry leaders. He discusses the in-person and digital events they organize and emphasizes the ephemeral nature of their interactions. 00:10:57 - Impact on Society Jon discusses his objective of bringing people together to improve their lives and potentially have a larger impact on society. He talks about raising money for social issues and getting media attention to raise awareness. 00:14:43 - Building Bonds through Shared Experiences The guest discusses the importance of getting people to assemble or work together as a way to strengthen relationships and create a sense of camaraderie within a company. By engaging high-profile individuals in unique and generous activities, such as assembling flowers, it creates a memorable experience that fosters emotional connections and generates positive word-of-mouth publicity. 00:16:16 - The Value of Being an Active Partner Rather than simply being a sponsor, it is more effective to actively design or be involved in the thinking process. By ensuring that people understand the core value and proposition of a brand, partners can forge stronger connections and leave a lasting impression. Quality over quantity is emphasized, focusing on meaningful engagements rather than broad-scale reach. 00:18:55 - The Power of Invitation in Building Connections The guest shares his experience in inviting impressive individuals to his events, even without extensive connections or resources. By starting with people he knew and gradually expanding his network through recommendations and research, he was able to build relationships with Nobel laureates, Olympians, and other accomplished individuals. He emphasizes the importance of understanding the behaviors and interests of specific groups in order to make meaningful connections. 00:20:42 - The Pitfalls of Scale and Misaligned Reach The discussion highlights the importance of targeted reach rather than focusing solely on scale. Having a large number of followers or attendees does not guarantee the right audience or meaningful connections. It is crucial to consider the relevance and alignment of the target audience when seeking partnerships or sponsorships. 00:29:29 - The Power of Influence and Trust Jon discusses the influence he has as a martial arts master and reverend, emphasizing the importance of trust in building connections. He explains that trust is created through competence, honesty, and benevolence, and that vulnerability loops can accelerate the trust-building process. 00:32:08 - Building Trust through Conversations Jon shares how his dinners create an environment where guests can have more intimate and vulnerable conversations, leading to accelerated trust between individuals. He also highlights the value of connecting on a personal level beyond discussing work-related topics. 00:34:50 - The Misunderstanding of Trust Jon explains that trust is often misunderstood, with many individuals leading with competence rather than benevolence. He discusses the importance of leveraging vulnerability loops and the Ikea effect to accelerate trust-building, emphasizing the need to ask for favors and provide support to create profound trust. 00:36:39 - Overcoming Fear of Asking for Help Melina and Jon share their personal experiences of asking for help, particularly in relation to promoting their books. They discuss the discomfort and fear that comes with asking for favors but highlight the importance of understanding that rejection or non-response doesn't necessarily reflect a personal dislike. 00:39:46 - Networking vs. Making Friends Jon challenges the traditional idea of networking and suggests that making friends is a more natural and effective way to connect with others. He emphasizes that networking often feels forced and unnatural, whereas making friends allows for more genuine and meaningful connections. 00:44:03 - The Importance of Relationships Relationships define the quality of our lives, whether in business or personal settings. Being vulnerable and reaching out to others can lead to meaningful connections and impactful experiences. 00:45:27 - Be Willing to Step Out of Your Comfort Zone To expand your social circle and create an impact, it's important to be willing to step out of your comfort zone. Take action, reach out to others, and engage in activities that bring people together. 00:46:29 - The Power of Social Catalysts Engaging in activities as social catalysts can make connecting with others feel less awkward. Activities like walking, playing games, or pursuing shared interests provide a natural context for conversation and connection. 00:48:07 - Embrace Anonymity and Genuine Interest By focusing on genuine interest in others, regardless of titles or achievements, deeper connections can be formed. Embrace anonymity and approach interactions with curiosity and authenticity. 00:50:15 -  Conclusion, Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Jon: Jon's Website Jon on Instagram Jon on Twitter Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: You're Invited, by Jon Levy The 2AM Principle, by Jon Levy Collaboration is the New Competition, by Priscilla McKinney What Your Employees Need and Can't Tell You, by Melina Palmer The Speed of Trust, by Stephen M.R. Covey Top Recommended Next Episode: The Speed of Trust, with Stephen M.R. Covey (ep 320) Already Heard That One? Try These:  Reciprocity (ep 238) Biases Toward Novelty and Stories (ep 54) The Power of Story, with Michelle Auerbach (ep 288) The IKEA Effect (ep 112) Peak-End Rule (ep 97) Surprise and Delight (ep 276) What is Value? (ep 234) Disney: A Behavioral Economics Analysis (ep 292) Get Your DOSE of Brain Chemicals (ep 123) Loss Aversion (ep 316) Status Quo Bias (ep 142) Framing (ep 296) Using Behavioral Science in Healthcare, with Aline Holzwarth (ep 135) Decision Fatigue (ep 244) Temptation Bundling (ep 250) The Behaviour Business, with Richard Chataway (ep 134) How To Change, with Katy Milkman (ep 151) The Fun Habit with Mike Rucker (ep 251) Happier Hour, with Cassie Holmes (ep 249) The Human Experience, with John Sills (ep 277) Anthropology, Behavioral Economics, and Marketing, with Priscilla McKinney (ep 196) The Science of Connection, with Nick Epley (ep 265) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter

In this episode of The Brainy Business podcast, host Melina Palmer interviews Tim Ash, author of Unleash Your Primal Brain. Tim brings his unique background in computer engineering and cognitive science to the discussion, shedding light on the evolution of the brain and its impact on human behavior. He explains how our brains developed as a response to fast changes in the environment caused by movement, highlighting the importance of social dynamics over logical reasoning.  Tim also delves into the concept of culture spread and how humans made an evolutionary bet on it, setting us apart from animals. This conversation is essential for business leaders and marketers who want to better understand human behavior and predict consumer choices. By recognizing the underlying evolutionary basis of our brains, they can design experiences that align with human nature, effectively connecting with their target audience. Tim's expertise in neural networks and neuromarketing provides a unique perspective on leveraging the primal brain for ethical reasons and leveling the playing field in marketing. Don't miss this opportunity to gain insights that will enhance your business strategies and drive success. In this episode: Discover the evolutionary basis of the brain, unveiling insights into the origin of human behavior. Unravel the secrets behind mirror neurons and understand their importance in human learning processes and empathy. Understand the ways in which cultural spread influences our adaptability and drives behavioral changes. Delve into how social media can be exploited to leverage our instinct for cultural spread. Gain insights into how to design business experiences that are harmonized with the innate nature of humans. Show Notes: 00:00:00 - Introduction, Melina Palmer introduces Tim Ash and discusses the importance of understanding the primal brain in behavioral economics and business. 00:01:44 - Evolution of the Brain, Tim explains how the brain evolved to respond to fast changes in the environment caused by movement. He highlights the energy-intensive nature of the brain and its focus on modeling complex social relationships. 00:07:11 - Heuristics and Biases, Tim explores how the brain uses heuristics and biases to navigate the world, balancing the need for energy consumption and survival. He emphasizes the brain's primary function of modeling social dynamics rather than logical reasoning. 00:09:50 - Culture Spread, Tim discusses how humans evolved to rely on culture spread as an evolutionary advantage. He explains the role of mirror neurons and the physical adaptations in humans to facilitate cultural learning. 00:13:36 - Unique Aspects of Human Brain Development, Tim highlights the unique aspects of human brain development, such as prolonged adolescence. He discusses how these adaptations contribute to the spread of culture and the importance of learning from others. 00:15:50 - Evolutionary Reasons for Modeling and Survival Goals, Tim explains that there are evolutionary reasons for modeling and mirror neurons. Modeling helps us imagine what someone is doing when they are out of sight, while survival goals like feeding and interpreting gestures are important for our physical skill rehearsal. Mirror neurons play a role in all of these processes and contribute to our survival. 00:17:14 - Learning from Successful Examples and Tribal Cohesion, Tim discusses the importance of learning from successful examples and the role of tribal cohesion in our learning process. We tend to learn from older people who have survived and people who are similar to us in terms of ethnicity, gender, and language. This preference for learning from similar individuals reinforces tribalism and group cohesion. 00:18:56 - Overcoming Biases and Expanding Circles of Empathy, Tim expresses a lack of hope in overcoming biases and expanding circles of empathy, especially in society and politics. He highlights our biological predisposition to form tribes and the difficulty of accepting other views once we are part of a tribe. However, he suggests that meeting and talking to people who are different from us can help in creating a larger circle of empathy. 00:21:32 - Conservative and Progressive Spheres of Concern, Tim shares an interesting finding from sociological research that conservative and progressive individuals tend to have different spheres of concern. He uses perceptions of immigration as an example of these differences. 00:30:24 - Girls' School Performance and Self Esteem Decline, Girls tend to outperform boys academically, especially in the early years. However, when they hit puberty, their self-esteem declines, and they start caring more about what their friends think of them. This often leads to a decline in academic performance. 00:31:27 - The Importance of the First Five Years, The first five years of a child's life are critical for their development. During this time, they need to feel loved, safe, and have proper nutrition and sleep. These experiences become hardwired into their biology and can influence their social attitudes and behaviors later in life. 00:33:22 - The Power of Empathy, Developing empathy is crucial for raising good humans. One way to cultivate empathy is through direct experiences with people from different backgrounds and cultures. By understanding and modeling the behaviors and experiences of others, we can foster empathy and understanding. 00:34:48 - The Role of Storytelling, Storytelling serves multiple evolutionary purposes. It allows us to simulate experiences we can't directly have, like living out a nightmare scenario without the real-life consequences. It also helps maintain cultural cohesion by spreading knowledge and values within a tribe. However, the cultural package we bring to a story can influence how we interpret and experience it. 00:36:56 -  Conclusion, Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Tim Ash: Follow Tim on LinkedIn Primal Brain Website Tim's Website  Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Unleash Your Primal Brain, by Tim Ash Evolutionary Ideas, by Sam Tatam Solving Modern Problems with a Stone-Age Brain, by Doug Kenrick and Dave Lundberg-Kenrick  Friction, by Roger Dooley Indistractable, by Nir Eyal Top Recommended Next Episode: Evolutionary Ideas, with Sam Tatam (ep 204) Already Heard That One? Try These:  Solving Modern Problems with a Stone-Age Brain (ep 237) Good Habits, Bad Habits, with Wendy Wood (ep 127) DOSE Brain Chemicals (ep 123) Herding (ep 264) Loss Aversion (ep 316) Biases Toward Novelty and Stories (ep 54) Indistractable, with Nir Eyal (ep 290) Mirror Neurons (ep 31) Avoiding Everyday Work Disasters with Dr. Gleb Tsipursky (ep 111) Marketing to Mindstates with Will Leach (ep 88) Friction, with Roger Dooley (ep 274) Costco: A Behavioral Economics Analysis (ep 47) Biases Toward Others (ep 314) IKEA Effect (ep 112) The Human Experience, with John Sills (ep 277) Using the Senses to Increase Sales with Michelle Niedziela (ep 168) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Dove Real Beauty Campaign Always Super Bowl Ad 2015 What eCommerce Can Learn From IKEA's Offline Success

How can you get your clients to buy into the idea of building something together?   In this episode of Real Relationships Real Revenue, I sat down with one of our top facilitators, Anna Boon, to talk about her favorite parts of the GrowBIG® Training- Building Everything Together. We are going deep into the topic and Anna is sharing what you need to know so that you can learn to co-create something amazing with your clients. If you want to elevate your expertise and stand out in your field, this episode is for you!    Topics We Cover in This Episode:    The benefits of Building Everything Together Strategies to make this happen with your clients The Ikea Effect and how it relates to this principle The science behind how this idea works How we can overcome objections to this strategy The value in vulnerability The different areas of Building Everything Together A good practice to begin to leverage this concept with your clients Anna's trick for continuous learning and holding herself accountable   I hope you enjoyed this episode with Anna! There is really something powerful about getting your clients to buy into co-creating with you. If you want to learn more about the science behind it, check out the studies on The IKEA Effect here.    If you want to get in touch with Anna, you can follow her on LinkedIn or contact her at contact@bunnellideagroup.com!    Resources Mentioned: Connect with Anna Boon on LinkedIn   BIG Email: contact@bunnellideagroup.com   The IKEA Effect research  

How can you get your clients to buy into the idea of building something together?   In this episode of Real Relationships Real Revenue, I sat down with one of our top facilitators, Anna Boon, to talk about her favorite parts of the GrowBIG® Training- Building Everything Together. We are going deep into the topic and Anna is sharing what you need to know so that you can learn to co-create something amazing with your clients. If you want to elevate your expertise and stand out in your field, this episode is for you!    Topics We Cover in This Episode:    The benefits of Building Everything Together Strategies to make this happen with your clients The Ikea Effect and how it relates to this principle The science behind how this idea works How we can overcome objections to this strategy The value in vulnerability The different areas of Building Everything Together A good practice to begin to leverage this concept with your clients Anna's trick for continuous learning and holding herself accountable   I hope you enjoyed this episode with Anna! There is really something powerful about getting your clients to buy into co-creating with you. If you want to learn more about the science behind it, check out the studies on The IKEA Effect here.    If you want to get in touch with Anna, you can follow her on LinkedIn or contact her at contact@bunnellideagroup.com!    Resources Mentioned: Connect with Anna Boon on LinkedIn   BIG Email: contact@bunnellideagroup.com   The IKEA Effect research  

How can you get your clients to buy into the idea of building something together?   In this episode of Real Relationships Real Revenue, I sat down with one of our top facilitators, Anna Boon, to talk about her favorite parts of the GrowBIG® Training- Building Everything Together. We are going deep into the topic and Anna is sharing what you need to know so that you can learn to co-create something amazing with your clients. If you want to elevate your expertise and stand out in your field, this episode is for you!    Topics We Cover in This Episode:    The benefits of Building Everything Together Strategies to make this happen with your clients The Ikea Effect and how it relates to this principle The science behind how this idea works How we can overcome objections to this strategy The value in vulnerability The different areas of Building Everything Together A good practice to begin to leverage this concept with your clients Anna's trick for continuous learning and holding herself accountable   I hope you enjoyed this episode with Anna! There is really something powerful about getting your clients to buy into co-creating with you. If you want to learn more about the science behind it, check out the studies on The IKEA Effect here.    If you want to get in touch with Anna, you can follow her on LinkedIn or contact her at contact@bunnellideagroup.com!    Resources Mentioned: Connect with Anna Boon on LinkedIn   BIG Email: contact@bunnellideagroup.com   The IKEA Effect research  

In this episode of The Brainy Business podcast, guest Leidy Klotz shares his research on the psychology of subtraction and its importance in decision-making and problem-solving. Klotz discusses how our natural instinct is to add rather than subtract when trying to improve a situation, and he provides insights into why this is the case. He explains that humans have a desire to display competence, and adding to a situation is a visible way to demonstrate that we can deal with the world effectively. However, Klotz argues that we can also display competence through subtracting, but it may require more effort to make it noticeable. He shares studies conducted with LEGO structures, itineraries, recipes, and computer grids, which consistently showed that people overwhelmingly choose to add rather than subtract. The episode explores concepts such as loss aversion and the IKEA effect, which contribute to our preference for adding. The conversation also touches on the concepts of minimalism and essentialism, and how subtracting can be a powerful tool for displaying competence and achieving goals effectively. Listeners will gain valuable insights into the psychological biases that hinder effective decision-making and problem-solving, and learn practical strategies to prioritize and achieve what truly matters.  In this episode: Discover the pivotal role subtraction plays in effective decision-making and problem-solving. Learn how our instinctive preference for addition can obstruct optimal solutions. Grasp how to confront biases and initiate shifts towards a subtractive mindset. Understand the immense benefits of streamlining and eliminating needless aspects of daily life. Acquire empowering strategies for integrating subtraction practices into your everyday living. Show Notes: 00:00:00 - Introduction, Melina Palmer introduces the episode and its focus on the power of subtraction with Dr. Leidy Klotz. She emphasizes the importance of optimization, reduction, and efficiency in various areas of life. 00:03:20 - Dr. Leidy Klotz's Background, Dr. Klotz shares his background in engineering and how his interest in sustainability led him to behavioral science. He highlights the overlap between engineering, architecture, and behavioral science in terms of creative application and design. 00:08:56 - Uncommon Paths to Behavioral Science, The conversation explores the diverse backgrounds of behavioral scientists, including Dr. Klotz's experience as a professional soccer player. They discuss how different disciplines, like marketing and sports, can contribute to the field of behavioral science. 00:11:50 - Personal Backgrounds and Professional Work, Melina and Dr. Klotz discuss how personal backgrounds, such as being an opera singer or playing basketball, can shape a person's approach to problem-solving. They highlight the value of diverse experiences in the field of behavioral science. 00:13:35 - Introduction to Subtract, Dr. Klotz introduces his book, Subtract, and explains how it explores the concept of subtraction as a means of optimization. He discusses the relationship between design, sustainability, and the creative application of behavioral science principles. 00:15:26 - The Instinct to Add, Leidy discusses how our first instinct when trying to improve something is to add, rather than subtract. This instinct is seen across various contexts, including LEGO structures and itineraries. The guest also mentions a study where people were given a task to make quadrants symmetrical and found that people overwhelmingly added blocks instead of removing them. 00:17:27 - Overlooking Subtraction, The guest explains that our tendency to overlook subtraction is due to various factors such as loss aversion, the endowment effect, and the IKEA effect. The book explores these factors and delves into the biological, cultural, and economic forces that contribute to our preference for adding. 00:18:47 - Science-Informed Strategies, Leidy discusses the latter half of the book, which focuses on utilizing science-informed strategies to get better at subtraction. By understanding the science behind our inclination to add, we can develop strategies to improve our ability to subtract. Leidy emphasizes the importance of creating a list of "stop doings" instead of solely focusing on a long list of to-dos. 00:21:06 - Minimalism and Essentialism, Leidy notes the connection between the book's concept of subtraction and minimalism and essentialism. He and Melina highlight the value of decluttering and getting rid of excess in order to display competence. Leidy also mentions the satisfaction that comes from having a focused to-do list with achievable tasks. 00:30:08 - The Importance of Subtraction, The conversation begins with the idea that subtraction is often overlooked in our society, and how we need to shift our mindset to value subtraction as much as addition. The guest, Leidy Klotz, mentions historical figures like Da Vinci and Lao Tzu who understood the importance of subtraction for design perfection and gaining wisdom. 00:31:01 - Subtraction as a Valuable Skill, Klotz discusses how his book aims to help people understand the science and stories behind subtraction, and encourages readers to adapt the principles to their own lives. He emphasizes the importance of subtracting first and how it can lead to better decision-making and problem-solving. 00:32:48 - Overcoming Challenges with Subtraction, Klotz addresses the challenges people face when considering subtraction, such as loss aversion and the fear of regret or guilt. He suggests mindset shifts, such as reframing subtraction as a positive improvement and emphasizing the benefits of subtracting. He also highlights the role of valence in perception and the value of thinking of add and subtract as complementary approaches. 00:35:53 - Add and Subtract, Klotz discusses the misconception that add and subtract are opposites and explains how they can coexist as complementary ways to make change. He encourages people to consider both options and think about the potential gains and losses associated with each. This mindset shift can lead to more effective decision-making and problem-solving. 00:44:27 - Introduction to the Book Work Well, Play More, Melina introduces the book Work Well, Play More by Marcey Rader, which builds upon the concepts of productivity and distraction introduced in "Indistractable." The book focuses on three areas: productivity, clutter, and health, providing a twelve-month approach to improve each area and reclaim time and mental well-being. 00:45:02 - Conclusion, Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Subtract, by Leidy Klotz The Life-Changing Magic of Tidying Up, by Marie Kondo Essentialism, by Greg McKeown How to Change, by Katy Milkman Work Well, Play More, by Marcey Rader Connect with Leidy:  Leidy on LinkedIn Leidy on Twitter Leidy's website Top Recommended Next Episode: Quit, with Annie Duke (ep 227) Already Heard That One? Try These:  NUDGES and Choice Architecture (ep 35) Non-Obvious Thinking, with Rohit Bhargava (ep 297) Endowment Effect (ep 139) Focusing Illusion (ep 89) Indistractible, with Nir Eyal (ep 290) How To Change, with Katy Milkman (ep 151) The Elements of Choice, with Eric Johnson (ep 174) Functional Fixedness (ep 194) A More Beautiful Question, with Warren Berger (ep 200) Evolutionary Ideas, with Sam Tatam (ep 204) Anchoring & Adjustment (ep 11) Bikeshedding (ep 99) The Overwhelmed Brain and Its Impact on Decision Making (ep 32) IKEA Effect (ep 112) Loss Aversion (ep 316) Behavioral Storytelling, with David Paull (ep 289) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Leidy at the University of Virginia

This episode of The Brainy Business podcast features an insightful interview with Stephen M. R. Covey, author of The Speed of Trust. Covey shares his expertise on building trust through transparency and authenticity, drawing from his personal experience within Franklin Covey. He explains how trust serves as the foundation for effective relationships and collaboration within teams. Covey dives into the quantifiable value of trust, showcasing its impact on speed and cost. He shares two compelling examples to illustrate the economic benefits of trust, including the power of referrals and Warren Buffett's surprisingly successful acquisition deal. Throughout the conversation, Covey emphasizes the need for discernment in extending trust and the importance of creating a high trust culture. The episode provides practical insights and actionable strategies for leaders and managers to nurture trust within their organizations. By listening to this episode, business leaders can gain a deeper understanding of the economic and psychological benefits of trust and learn strategies to foster trust within their teams for increased productivity and success. In this episode: Realize the significant role trust plays in enhancing teamwork, productivity, and collaboration. Uncover the transformative power of transparency and authenticity within organizations, through the personal experiences of Stephen M. R. Covey. Appreciate the crucial interplay between trust and successful change management during periods of organizational transitions. Discover the foundational role of trust in boosting both speed and cost efficiency in business operations and its impact on economic outcomes. Identify the balance and discernment imperative in extending trust, a concept encapsulated as 'Smart Trust.'  Show Notes: 00:00:00 - Introduction, Melina introduces the episode and welcomes Stephen M.R. Covey, the son of Stephen R. Covey, author of The 7 Habits of Highly Effective People. They discuss Stephen's family legacy and how he has built upon his father's work with a focus on trust. 00:02:18 - The Importance of Trust, Stephen explains the concept of trust and how it impacts relationships and organizations. He shares a personal story about the Franklin Covey merger and the importance of transparency and authenticity in building trust. 00:06:11 - Trust and the Covey Legacy, Stephen discusses how his family legacy and the reputation of his father have influenced the level of trust people have in him. He emphasizes the importance of backing up trust with skills and research. 00:08:37 - The Gift of Transparency, Stephen shares a story about a meeting he had with the Franklin Covey employees after the merger. By being open, transparent, and addressing their concerns, he was able to build trust and create a stronger team. 00:13:13 - Calming the Elephant, Melina relates Stephen's story to the concept of “calming the elephant,” referring to addressing the underlying concerns and fears that people have during times of change. She shares an example of how taking the time to listen to an employee's personal stress helped improve their productivity. 00:14:44 - The Economics of Trust, Stephen discusses the economic impact of trust in organizations, and explains how his formulas for the economics of trust work. 00:15:20 - The Power of Understanding, Understanding others increases influence and builds trust, leading to better teamwork and improved outcomes. 00:17:15 - The Economics of Trust, Trust affects speed and cost in any relationship or environment. When trust decreases, speed decreases and cost increases. Conversely, when trust increases, speed increases and cost decreases. 00:20:33 - Examples of Trust in Action, Trust is a vital factor in word-of-mouth referrals, where trust leads to faster and less costly acquisitions. Stephen shares an example from Warren Buffett's handshake deal, which was completed quickly and without the traditional due diligence process due to high trust. 00:25:44 - The Cost of Distrust, Distrust leads to longer processes and higher costs, as seen in increased airport security measures and compliance rules after corporate scandals. The cost of distrust is real, while the dividends of high trust can be monetized. 00:28:22 - Balancing Trust and Caution, It is possible to be both too trusting and too suspicious. Finding the balance of smart trust involves being aware of potential risks while also recognizing the costs of not trusting enough and stifling creativity and innovation. 00:31:05 - The Importance of Smart Trust, Stephen Covey discusses the concept of smart trust, which involves assessing the likelihood, cost, and consequences of extending trust to someone. He emphasizes the importance of credibility and judgment in determining how much trust to give and acknowledges that blindly trusting someone who has proven to be untrustworthy is not wise. 00:32:33 - Building Trust and Overcoming Fear, Covey explains that extending trust can lead to great outcomes and results, as most people respond well to being trusted. He encourages leaders to focus on the 95% of trustworthy individuals and not let the 5% of untrustworthy people define their approach. Covey suggests using judgment and assessing the risk before trusting someone, but also highlights the importance of not being overly cautious and missing out on possibilities. 00:36:04 - The Power of High Trust Cultures, Covey discusses how high trust cultures can be more effective and accountable than rules-based cultures. He explains that when trust is present, people hold each other accountable and the culture itself becomes a reinforcer of trust. Covey emphasizes the need for organizations to design for the majority of trustworthy individuals rather than focusing on the few untrustworthy individuals. 00:37:29 - One More Behavior: Practicing Accountability, Covey introduces the behavior of practicing accountability, which involves creating agreements and expectations with individuals and allowing them to take responsibility for evaluating their own performance. He believes that involving people in the accountability process can build trust and lead to greater commitment and engagement. 00:46:15 - The Power of Trust, Trust is the most inspiring form of human motivation and brings out the best in people. 00:46:30 - Conclusion Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: The Speed of Trust, by Stephen M.R. Covey Friction, by Roger Dooley What Your Employees Need and Can't Tell You, by Melina Palmer 7 Habits of Highly Effective People, by Stephen R. Covey Indistractable, by Nir Eyal Connect with Stephen:  Speed of Trust Website Stephen on Twitter Stephen on LinkedIn Top Recommended Next Episode: Vulnerability Loops (ep 229) Already Heard That One? Try These:  Influence Is Your Superpower, with Zoe Chance (ep 308) You Have More Influence Than You Think, with Vanessa Bohns (ep 197) Non-Obvious Thinking, with Rohit Bhargava (ep 297) Framing (ep 296) Endowment Effect (ep 139) Indistractible, with Nir Eyal (ep 290) Friction with Roger Dooley (ep 274) Magic Words, with Jonah Berger (ep 301) Social Proof (ep 87) Habits (ep 256) Reciprocity (ep 238) Confirmation Bias (ep 260) Biases Toward Others – Including Groups (ep 314)  Fundamental Attribution Error (ep 268) The Overwhelmed Brain and Its Impact on Decision Making (ep 32) IKEA Effect (ep 112) How Minds Change, with David McRaney (ep 210) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter

Dr. Zoe Chance emphasizes the importance of examining problems from different perspectives and setting long-term goals for success. Approaching problem-solving differently can result in innovative solutions that others might overlook. By aligning these objectives with Zoe's "magic question," individuals can foster a sense of collaboration and create opportunities for progress. Throughout the podcast, Dr. Chance shares stories of how people have successfully applied the magic question in various situations. For instance, she recounts the story of Gloria Steinem, who addressed the issue of sex trafficking in a Zambian village by asking the magic question, leading to a revelation that an electric fence was required to protect crops from elephants. Such examples reinforce the importance of aligning long-term goals with the magic question in order to effectively influence and create meaningful change. This episode, which features many insights from Zoe's book, Influence is Your Superpower, also highlights the importance of saying "No" (with a challenge to do so to every request for 24 hours) and the interesting way she set up her book chapters (along with some tips for aspiring authors). In this episode, you will be able to: Enhance your connections and communication through the strength of influence. Achieve better work-life balance by saying 'no' and outlining clear-cut boundaries. Embrace an innovative way of addressing problems and designing future targets. Comprehend the workings of decision-making and how to convince others with competence. Show Notes: 00:00:00 - Introduction, Melina introduces Zoe Chance and her book Influence Is Your Superpower. She highlights the relevance of the topic to the upcoming guest, Vanessa Patrick's book, The Power of Saying No. 00:03:24 - From Theater to Sales, Zoe talks about her experience in theater and how it helped her develop the skills to communicate, move, and connect with people. She also narrates her experience in sales, door-to-door sales, telemarketing, and marketing, where she learned about rejection and the importance of being comfortable with saying (and hearing) no. 00:06:44 - The Power of No, Zoe introduces her 24-hour no challenge, which she did for a whole month one November, and the 24-hour no challenge she gives her students. She explains how saying no can help build healthy relationships and create space in one's life. She also emphasizes the importance of not justifying one's no and the need to disentangle the request from the relationship. 00:10:23 - Handling Objections, Zoe talks about handling objections in sales training, addressing all the different kinds of objections that someone might have. She reveals that most sales training is about handling objections. She adds that it is often a good idea not to justify one's no because it can create a way for them to convince you to change your mind. 00:13:00 - The Worst Thing They Can Say is No, Zoe explains the mindset that "the worst thing they can say is no," -- how this is both helpful and harmful. 00:15:33 - Framing and Half Chapters, Zoe discusses her use of framing in her book, Influence Is Your Superpower, and how she structured the chapters to include shorter chapters between longer ones to create more momentum and ease of reading. She also shares her love for Harry Potter and how she used references to create a little magic for readers. 00:19:16 - The Magic of Harry Potter, Melina and Zoe bond over their love for Harry Potter and share their experiences visiting the Harry Potter Studios outside London. They discuss the level of thoughtfulness and detail that went into creating the world of Harry Potter and how it inspires them in their own work. 00:23:49 - The Power of Framing, Zoe explains the concept of framing and shares an example from her idol, Derren Brown, a mind reader and illusionist who is a master at directing attention. She discusses how framing works to focus our attention on one thing and make us ignore everything else, and how this is a metaphor for how our brain makes decisions. 00:29:22 - The Influence of Derren Brown, Melina and Zoe discuss the work of Derren Brown and how he is an expert in influence, even though he is not an academic. They share examples of how he uses questioning techniques to get people to believe certain things and how he can get them to choose something different from what they originally wanted. 00:31:38 - The Importance of Experimentation, Zoe emphasizes the importance of experimentation in behavioral science and how it is critical to test and iterate on things. 00:31:31 - Setting Goals and The Magic Question, Dr. Zoe Chance shares tips on setting long-term goals and using the magic question to collaborate and problem-solve with others. The magic question involves asking "What it would take...?" to achieve a specific goal or overcome an obstacle. By doing this, it shifts the mindset from resistance to collaboration, and the other person becomes committed to supporting the outcome. 00:35:20 - Personal Journey of Transformation, The book Influence Is Your Superpower is a personal journey of transformation to becoming someone that people want to say yes to. It provides readers with the tools needed to gain influence through personal and professional relationships. The book is focused on collaboration and problem-solving to achieve goals. 00:37:06 - Connecting with Zoe Chance, The best way to get the book Influence Is Your Superpower is through Zoe Chance's website, Zoechance.com. You can connect with her on Twitter, where she shares tips and engages with readers. She encourages readers to share how they use the tips from the book. 00:38:39 - Using the Magic Question, The magic question "What would it take?" is a simple yet powerful tool that can be used to achieve goals and overcome obstacles. It involves asking the other person what it would take to achieve a specific goal or overcome an obstacle. This approach shifts the mindset from resistance to collaboration and helps to identify the roadmap needed to achieve the desired outcome. 00:39:14 - Conclusion, Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Influence Is Your Superpower, by Zoe Chance You Have More Influence Than You Think, by Vanessa Bohns Magic Words, by Jonah Berger The Power of Saying No, by Vanessa Patrick What Your Employees Need and Can't Tell You, by Melina Palmer Connect with Zoe:  Zoe on Twitter Follow Zoe on LinkedIn Zoe's Website Top Recommended Next Episode: A More Beautiful Question, with Warren Berger (ep 200) Already Heard That One? Try These:  Framing (ep 296) You Have More Influence Than You Think, with Vanessa Bohns (ep 197) Influence, with Robert Cialdini (ep 157) 5 Years, 299 Episodes, These Are Your Favorites (ep 299) Getting Along, with Amy Gallo (ep 269) A More Just Future, with Dolly Chugh (ep 247) Non-Obvious Thinking, with Rohit Bhargava (ep 297) What is Questionstorming? (ep 215) Priming (ep 252) Framing (ep 296) What is Cognitive Semiotics? With Sarah Thompson (ep 259) Leveraging Metaphor, with Olson Zaltman (ep 181)  Magic Words, with Jonah Berger (ep 301) The Sense of Sight (episode 24) The IKEA Effect (ep 112) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Zoe's Yale Faculty Page How to Make a Behavior Addictive: Zoë Chance at TEDxMillRiver Derren Brown, The Apocalypse Derren Brown, Perfect Present

This is an Impact Pricing Blog published on June 15, 2023, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/the-ikea-effect-and-pricing/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact.   Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/  

Mentorship is a critical component of personal and professional growth. A supportive mentor enables mentees to develop critical skills, make better decisions, and achieve their goals faster by providing guidance, perspective, and encouragement along their journey. Furthermore, mentors benefit by expanding their network, reinforcing their knowledge, and deriving satisfaction from contributing to the success of others. Mentorship is a valuable, reciprocal relationship that fosters learning, development, and change for both the mentor and mentee. In the podcast, Scott Miller shares his insight into how mentorship can impact individuals in various aspects of life. He offers personal stories and experiences, highlighting the importance of recognizing the potential mentorship opportunities that exist beyond traditional boundaries. By emphasizing the powerful and transformative effects of mentorship, Miller encourages listeners to actively pursue mentoring relationships that enrich personal and professional lives, and explains the 13 roles mentors play, based on information in his book The Ultimate Guide to Great Mentorship. In this episode: Unveil the importance of mentorship and why anyone can be a mentor. Decode the 13 essential roles of mentors in guiding their mentees. Realize the value of genuine feedback and vulnerability in fostering strong mentor-mentee connections. Examine the lifelong benefits that mentorship can provide for you and your career. Identify how everything from setting boundaries to celebrating matters in the mentor-mentee relationship (and some language to help you along your way!) Show Notes: 00:00:00 - Introduction, Scott Miller is a multi best-selling author, special advisor on thought leadership for the Franklin Covey Company, and a globally celebrated keynote speaker. He has previously been a guest on The Brainy Business podcast to discuss his books Marketing Mess to Brand Success and Management Mess to Leadership Success. In today's episode, he talks about his new book, The Ultimate Guide to Great Mentorship. 00:06:42 - Importance of Mentorship, Mentorship is a key part of companies' employee development plans. However, most people don't know what to do as a mentor. Scott wrote The Ultimate Guide to Great Mentorship to help people become better mentors. The book outlines 13 roles that all mentors can play, which will help them ask better questions, be more patient, and be more thoughtful. 00:10:16 - Informal Mentorship, Scott shares the story of how Bruce Williams, a radio host who has since passed away, became a mentor to him without ever knowing it. This highlights the importance of informal mentorship and how people can redefine what mentorship looks like. For example, by following favorite bloggers or podcasts, those thought leaders can be a mentor to you (even if you never talk to them and they don't know your name). 00:14:21 - The Power of Mentorship, Scott and Melina discuss the impact of mentorship on individuals and society, highlighting the importance of having a framework for effective mentorship. Scott introduces his book, The Ultimate Guide to Great Mentorship, and introduces the 13 roles a mentor can play. 00:17:32 - The 13 Roles of Great Mentorship, Scott discusses the 13 roles a mentor can play outlined in his book, emphasizing that a mentor may not necessarily play all 13 roles and why they need to adapt their role depending on the mentee's situation (you aren't just one “type” of mentor, you need to wear multiple hats during your time as a mentor). He highlights the importance of having an awareness of these roles and how they can be used to support a mentee effectively. 00:21:01 - The Importance of Validation in Mentorship, Scott shares his personal story of being validated by a stranger at a young age, which had a profound impact on his life. He emphasizes the role of the Validator in mentorship and the power of validating a mentee's genius, skill, and talent. He provides tips for how to effectively validate a mentee and how this can be a transition point for them to move towards more effective mindsets. 00:23:05 - Scott's Six-Step Closing Process, Scott introduces his six-step closing process, which includes naming what has been learned from the mentee, validating their genius, and setting them on their way. He emphasizes the importance of taking away something from each mentor session and using it to improve oneself. 00:28:34 - Caution for the Validator, The Validator role in mentoring should be used with care. Rather than validating mentees for small actions, acknowledge their genius, and give them lifelong courage to retrieve it when they need it. 00:32:41 - The Flagger Role, The Flagger is the challenger on steroids, who stops a conversation in its tracks to challenge an idea. Diplomatically flagging issues prevents potential conflict in the future. 00:37:57 - The Boundary Setter, Setting boundaries is an uncomfortable yet essential conversation that every mentor needs to have. Mismatched or unfulfilled expectations cause most conflicts in life, and setting clear boundaries is key to avoiding any potential issues. Scott provides some sample language the listener can use in their own mentoring sessions immediately. 00:41:24 - Honing in on Boundaries, It's important to have a clear understanding of each other's boundaries in mentorship. Starting with an uncomfortable conversation about boundaries can prevent future awkwardness and allow for a more productive relationship. 00:42:53 - Importance of Situational Mentorship, Scott emphasizes the importance of situational mentorship and tailoring conversations to the mentee's needs. He suggests checking out greatmentorship.com for videos and tools, and invites people to connect with him on social media. 00:44:27 - Scott's Impact on Melina, Melina thanks Scott for being a mentor to her, and Scott reflects on how anyone can be a mentor (with or without realizing it). They encourage listeners to reflect on who has impacted their lives and consider sharing their gratitude with them. 00:45:00 - What is Mentorship?, Melina and Scott discuss the meaning of mentorship and how it can be informal and brief. They encourage listeners to reflect on the mentors in their lives and consider sharing their impact with them. 00:46:19 - Reflecting on Impactful Moments, Melina encourages listeners to reflect on small or big moments that were impactful and consider who was part of them. She suggests telling mentors how they have impacted their lives and invites listeners to connect with her and Scott on social media. 00:46:30 - Conclusion, Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: The Ultimate Guide to Great Mentorship, by Scott Miller Management Mess to Leadership Success, by Scott Miller Marketing Mess to Brand Success, by Scott Miller Fierce Conversations, by Susan Scott What Your Employees Need and Can't Tell You, by Melina Palmer Connect with Scott:  Scott on Instagram Follow Scott on LinkedIn Scott's Website Top Recommended Next Episode: Management Mess to Leadership Success, with Scott Miller (ep 69) Already Heard That One? Try These:  Marketing Mess to Brand Success, with Scott Miller (ep 156) Overcoming Imposter Syndrome (ep 306) Change Management: It's Not About The Cookie (ep 226) Anchoring and Adjustment (ep 11) Relativity (ep 12) On-Air Coaching Call with Mariel Court (ep 10) Secrets of Motivation and Incentives with Tim Houlihan (ep 109) The IKEA Effect (ep 112) Priming (ep 252) Framing (ep 296) The Brainy Benefits of Gratitude (ep 248) Celebrate! It's More Important Than You Think (ep 236) Stressed and Overcommitted? Tips to Overcome Planning Fallacy (ep 114) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Scott's Site: GreatMentorship.com

To build authentic brand connections with customers, it is essential for marketing professionals to understand the unique cultural context within which their target audience exists. This encompasses not only the cultural values and beliefs of the intended market but also the broader societal context within which these individuals reside. By accurately identifying their congregation (NOT target market) and their specific cultural attributes, marketers can create tailored messaging that communicates more effectively with the intended consumer base. In the podcast, Dr. Marcus Collins discusses his experience working with various brands, such as Beyoncé, Budweiser, and the Brooklyn Nets, that have built authentic connections with their customers by leveraging behavioral science. As a marketing professor and industry professional, Collins emphasizes the importance of finding a "congregation" of like-minded individuals who share the same beliefs, values, and attitudes as the brand. By focusing on these shared attributes, companies can create more genuine and meaningful relationships with their customers, fostering loyalty and a sense of real connection. In this episode, you will: Understand the significance of culture in crafting effective marketing campaigns. Realize the potential of focusing on a congregation over a target market for greater influence. Grasp the art of blending brand values with cultural norms to create authentic connections. Appreciate the benefits of a humble approach in navigating the ever-changing societal landscape. Analyze successful implementations of cultural marketing by leading companies. Show Notes: 00:00:00 - Introduction, Host Melina Palmer introduces Dr. Marcus Collins, an award-winning marketer, cultural translator, and author of For the Culture. 00:02:21 - Dr. Marcus Collins' Background, Dr. Collins talks about his background, growing up in Detroit, studying engineering, and his journey into marketing, including working at Apple and running digital strategy for Beyoncé. 00:06:29 - Importance of Culture, Dr. Collins explains the importance of culture and how it influences people's behavior and decision-making. He believes that understanding and respecting culture is crucial for businesses to effectively connect with their audiences. 00:09:40 - Learning About People, Marcus shares a pivotal moment in his career when he realized that his understanding of social media was limited because he didn't understand people. This realization led him to study human behavior and psychology, which has been instrumental in his work as a marketer. 00:14:13 - Marketing to Diverse Audiences, Dr. Collins discusses the importance of marketing to diverse audiences and the challenges that come with it. He emphasizes the need for businesses to go beyond surface-level diversity and truly understand different cultures and communities. 00:14:22 - The Power of Influence, Marcus Collins talks about the power of influence and how he became a better practitioner by studying network theory and the social sciences. He also shares how theory helped him launch campaigns for the Brooklyn Nets and Budweiser. 00:15:45 - Career Journey, Marcus Collins shares his journey from wanting to study musical theater to becoming a marketer and eventually pursuing a doctoral degree in sociology. He also talks about the importance of having mentors. 00:19:13 - Learning from Dan Ariely, Marcus shares his experience of being connected to Dan Ariely. Melina also shares about the kind nature of Dan. They collectively agree on the power of asking questions and being generous with others. 00:22:06 - Consumer Culture Theory, Marcus Collins talks about his doctoral research on consumer culture theory and how he became interested in the role of culture in understanding consumer behavior. He also discusses the evolution of marketing, from using psychology to sociology to culture to better understand people. 00:27:21 - Find a Congregation, Marcus discusses the importance of finding a congregation – or a group of people who share your values and beliefs – rather than a generic target market. He emphasizes the need for brands to focus on building a community and connecting with their audience on a deeper level. 00:28:37 - Understanding People and Business, People are at the core of business. Culture is anchored in our identity, and our identity is the character in the story we tell ourselves. Therefore, companies should target people who see the world the way they do, and those people will not only consume but also tell other people like them. 00:31:23 - Finding the Congregation, The biggest cheat code for understanding the underlying physics of humanity is behavioral sciences. Consumption is a cultural act, and our consumption is a product of our cultural subscription. Therefore, companies should focus on finding the congregation of people who see the world the way they do, and those people will do the marketing and communication for them. 00:35:01 - Relating it to Nike's Core Belief, Nike believes that every human body is an athlete, and they exist to help people realize their best athletic self. Nike talks to athletes, not people who just buy sneakers. They preach the gospel to their congregation, which is made up of many tribes who see the world the way they do. And those people not only consume but also share the gospel with other people. 00:38:55 - Consumption is a Cultural Act, Understanding the underlying physics of humanity is the biggest cheat code for any profession, whether you're an accountant, finance person, marketer, HR, leader, or C-suite. Consumption is a cultural act, and our consumption is a product of our cultural subscription. Therefore, companies should leverage the behavioral sciences to segment, target, and activate the market. 00:44:06 - Theoretical vs. Practical, Marcus Collins discusses how everything is theoretical in social sciences and how he spends more time contextualizing his explanations than teaching theories. He talks about how he breaks down complex ideas for students, and this approach has helped him socialize thinking within organizations. 00:45:16 - Humility in Academia, Collins talks about approaching academia from a humble place and realizing that everything is based on what is known at present. He believes that looking at the world from a more humble state has helped him be a better corporate citizen and partner. 00:47:53 - Melina's Closing Thoughts, Palmer discusses the idea of building a congregation of listeners and how understanding identities and tribalism can help businesses connect with consumers. She encourages listeners to consider what their brand could do to embrace culture and create a mutual benefit for everyone involved. 00:49:20 - Conclusion, Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: For The Culture, by Marcus Collins Predictably Irrational, by Dan Ariely Thinking Fast and Slow, by Daniel Kahneman Influence, by Robert Cialdini What Your Employees Need and Can't Tell You, by Melina Palmer Connect with Marcus:  Marcus on Twitter Follow Marcus on LinkedIn Marcus' Website Top Recommended Next Episode: Dan Ariely – What is Shapa? (ep 101) Already Heard That One? Try These:  Social Proof (ep 87)  Neuroscience and Psychology in business, with Matt Johnson (ep 160) Branding That Means Business, with Matt Johnson (ep 231) Why We Like The Things We Like, with Prince Ghuman (ep 172) Secrets of Motivation and Incentives with Tim Houlihan (ep 109) Habits (ep 256) Dr. Robert Cialdini and the (Now!) 7 Principles of Persuasion (episode 157) The Network Effect (ep 262) The Endowment Effect (ep 139) The IKEA Effect (ep 112) Priming (ep 252) Framing (ep 296) Using Semiotics in Retail, with Rachel Lawes (ep 191) What is Cognitive Semiotics? With Sarah Thompson (ep 259) Multinarrative Storytelling, with Troy Campbell (ep 293) The Life-Saving Skill of Story, with Michelle Auerbach (ep 288) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter

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As IKEA, instant cake mixes, and meal-kit delivery services demonstrate, we often value things according to how much they cost us—whether that's in time, money, energy, or imagination. Get in touch: podcast@gretchenrubin.com Follow on social media: @GretchenRubin on YouTube @GretchenRubin on TikTok @GretchenRubin on Instagram Get the podcast show notes by email every week: happiercast.com/shownotes Get Gretchen Rubin's newest book Life in Five Senses to see how she discovered a surprising path to a life of more energy, creativity, luck, and love: by tuning in to the five senses. Now available - order here. Visit Gretchen's website to learn more about Gretchen's best-selling books, products from The Happiness Project Collection, and the Happier app.  Happier with Gretchen Rubin is part of ‘The Onward Project,' a family of podcasts brought together by Gretchen Rubin—all about how to make your life better. Check out the other Onward Project podcasts— Side Hustle School, Happier in Hollywood and Everything Happens with Kate Bowler. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Creating brain-friendly experiences involves understanding how human psychology and behavioral principles can be integrated into the design of products and services. By recognizing and leveraging these concepts, brands can establish a stronger emotional connection with their customers and create experiences that resonate long after the interaction has ended. In the podcast, Melina Palmer advocates for infusing behavioral economics concepts into business practices and learning from Disney's approach. She encourages brands to delve into the "why" behind their existence and explore principles like framing, nudges, and nostalgia to foster lasting relationships with customers. The goal is to deliver unforgettable experiences that keep customers coming back for more, just as Disney has managed to do, time and again. Discover the art of blending novelty and nostalgia to create Disney magic. Unravel the secrets behind Disney's scarcity and identity-based marketing techniques. Learn how to improve customer experience during those unavoidable wait times. Implement Mickey's Ten Commandments and Imagineering Team's guiding principles. Uncover brain-friendly storytelling methods that boost revenue generation. Show Notes: 00:00:00 - Introduction, Melina introduces the podcast episode, which is about the behavioral economics of Disney. She talks about how Disney is part of our culture and upbringing and how it is a complex web of companies. 00:06:42 - Disney's Focus on Innovation, Disney's focus on innovation and constantly working to be better has stuck with the company for over 90 years. They balance expectations with surprise and delight in a way that works with the brain's bias for the status quo. 00:09:19 - Nostalgia, Disney embraces nostalgia in its parks, movies, and merchandise. They keep some things static over decades to evoke a feeling of nostalgia and balance it with new adaptations to keep it fresh. 00:12:17 - Novelty and the IKEA Effect, Disney incorporates novelty and the IKEA effect, which is the idea that people value things they helped create. Disney has little surprises throughout its parks, like hidden Mickeys, and Easter eggs in its movies. They also let people create their own experience with the brand, like embroidering names onto Mickey ears. 00:15:00 - Emotional Bonding, Being part of the fun and shaping the experience makes people emotionally bonded to the Disney brand. Helping pick out Mickey ears or discovering hidden Mickeys can prime memories and conversations and helps people like the brand more. 00:16:07 - Scarcity and Buzz, Disney's scarcity of specialty ears creates buzz and excitement among park visitors, who love to follow the crowd. This generates social proof, making the limited item even more popular and highly sought after. It's a stroke of genius by Disney to create scarcity in a way that gets people talking about the brand. 00:19:22 - Thoughtfulness in Experiences, Disney is known for being thoughtful in their experiences, making even the bad moments an experience all their own. By creating fun and engaging interactions including, hidden Mickeys, and themed line experiences, Disney turns waiting in a long line into a dopamine-generating, anticipation-building experience. This thoughtfulness is a gift that people repay with loyalty and fandom. 00:23:18 - Mickey's Ten Commandments, Mickey's Ten Commandments are a set of guiding principles that define Disney's values and handbook. Two commandments that stand out are to "avoid overwhelm" and "tell one story at a time." By simplifying the customer experience, reducing decision fatigue, and thinking through every experience, Disney can remain the happiest place on Earth for over 65 years. 00:28:17 - Imagineering Process, Disney's Imagineering Team goes through a process of asking questions to guide every new project, starting with what could it be and ending with how did we do? By using this process, Disney creates a flexible approach that allows for variety while still maintaining a high level of thoughtfulness and attention to detail. 00:31:03 - Starting with Story, Disney starts by creating a great story and then builds everything around it. This approach is different from the standard approach where a product is created, and then a story is created around it. By starting with a story, Disney ensures that the audience is emotionally invested in the story and the products or services associated with it. 00:31:51 - Brain-friendly Experiences, Brands can benefit from creating brain-friendly experiences by starting with a story. Starting with a story creates a sense of emotional investment and makes the experience more memorable. Incorporating various concepts from behavioral economics, such as framing, nudges, and nostalgia, can help create a more brain-friendly experience. 00:33:36 - Insights and Inspiration, Disney is a master of creating a balance between novelty and nostalgia in their experiences. They recognize that people want to share their childhood experiences with future generations, and they create experiences that allow them to do so. Disney also pays attention to the true end of the experience, which is not when someone leaves the park, but when they can relive the experience through photos. Companies can learn from Disney by creating similar brain-friendly experiences. 00:35:09 - Making Memories, Disney understood the true end of their experience, which was the moment when people could relive the experience through photos. They worked with Kodak to paint the park in colors that would look best when printed on photo paper, creating amazing, stellar pictures that helped make the memories stronger. Creating brain-friendly experiences involves paying attention to the details that make all the difference. 00:35:08 - Conclusion, Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Choice Hacking, by Jennifer Clinehens What Your Customer Wants and Can't Tell You, by Melina Palmer The Experience Maker, by Dan Gingiss Blindsight, by Matt Johnson and Prince Ghuman Alchemy, by Rory Sutherland Top Recommended Next Episode: Why We Like The Things We Like, with Prince Ghuman (ep 172) Already Heard That One? Try These:  Starbucks: Behavioral Economics Analysis (ep 278) Costco: Behavioral Economics Analysis (ep 47) Peloton: Behavioral Economics Analysis (ep 86) Choice Hacking, with Jennifer Clinehens (ep 141) Why Our Brains Love Nostalgia & Traditions (ep 79) Social Proof (ep 87) Priming (ep 252) Peak-End Rule (ep 97) Loss Aversion (ep 9) Get Your D.O.S.E. of Brain Chemicals (ep 123) Habits (ep 256) Surprise and Delight (ep 276) Status Quo Bias (ep 142) IKEA Effect (ep 112)  Scarcity (ep 270) Reciprocity (ep 238) NUDGES & Choice Architecture (ep 35) The Overwhelmed Brain and Its Impact on Decision Making (ep 32) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter The Psychology Behind Disney's “10 Commandments” for Experience Design The Science Hiding in Mickey's Pixie Dust Disney Proves That Profitable Marketing Is About Brand Stories Be Like Disney: Why You Should Embrace Imagineering Principles in Branding How Disney Built An Empire By Designing Brand Experience Why are so many adults obsessed with Disney theme parks? Here's an upside-down Mickey at the Big Thunder Mountain Railroad in Frontierland

In today's fast-paced world, attention spans are shorter than ever. By making stories concise, engaging, and to the point, marketers can cater to the needs of overwhelmed audiences while still delivering powerful messages. Short stories leave out unnecessary details while retaining the most critical elements, ultimately making them more memorable and easier to digest. David Paull considers short stories to be particularly useful tools in marketing and communications. He cites the popularity of TED Talks as evidence that people are drawn to concise yet impactful stories. In the podcast, he discusses the importance of refining messages through a careful editing process, distilling them down to their most essential aspects, and making them as powerful and engaging as possible. In this episode: Unleash the potential of behavioral storytelling to revolutionize your branding and marketing efforts. Learn how Dialsmith dials offer an innovative way to non-consciously measure audience reactions. Discover how to implement the RSPCT framework for designing impactful and convincing messages. Realize the significance of concise, emotionally charged stories for capturing your audience's interests. Leverage testimonials and social proof to amplify your persuasion techniques. Show Notes: 00:00:00 - Introduction, Melina Palmer introduces David Paull, CEO of Dialsmith and founder of Lillian Labs. She highlights David's expertise in using storytelling to build brands and introduces his behavioral storytelling framework. 00:04:02 - Dialsmith, David Paull talks about Dialsmith, his insights technology company that develops dials used in focus groups during presidential debates and State of the Union addresses. He also discusses the online version of the dials and the consultancy arm of the company, Lillian Labs. 00:11:56 - Storytelling, David shares his journey in becoming interested in storytelling through his work on strategic communications and messaging. He talks about how he got involved with the Story Conference in Nashville and the experiments and thought exercises he did on cognitive biases and behavioral economics. 00:15:33 - Behavioral Storytelling, David Paul explains how he blends insights and storytelling to create behavioral storytelling. He provides an example of working with clients on climate issues and how they isolate the real problem and test their messaging with the market. The goal is to take the audience on an emotional or intellectual journey that leads to action. 00:19:25 - TEDxPortland, David Paul discusses his involvement with TEDxPortland, the largest indoor TEDx in the world. He talks about the importance of having a diverse group of speakers and how they select the speakers for the event. 00:16:25 - The RSPCT Framework, David Paull discusses his RSPCT Framework, which involves determining the real problem for the target audience, understanding what's at stake if the problem is not solved, identifying the perfect outcome, crafting an effective call to action, and providing testimonials and social proof for added credibility. 00:19:23 - The Danger of Stressing the Problem, Melina Palmer and David Paull discuss how stressing the problem too much can lead to unintentional normalization of the behavior you want to change. Instead, they highlight the importance of including testimonials and social proof to make the audience feel comfortable with the solution being proposed. 00:24:56 - Tips on Delivering a TED Talk, David Paull shares his experience as a speaker coach for TEDxPortland. He emphasizes the importance of keeping talks short, with a focus on big original ideas and tangible takeaways. He also recommends a strong emphasis on editing to distill the message down to its most essential elements. 00:27:38 - The Power of Short Stories, Melina Palmer and David Paull highlight the power of a short story to convey complex ideas in a short amount of time. They use examples from famous TED Talks, including one that was only two minutes and fifty-two seconds long. They emphasize the importance of making every word count to deliver a compelling message that resonates with the audience. 00:30:24 - Make It as Short as Possible, David Paull shares a quote from Albert Einstein about making scientific work. 00:31:51 - Finding the Real Problem, The first step in problem-solving is identifying the real problem. Keep peeling back the layers until you find the underlying issue by asking "why" until there's nowhere else to go. Then determine what's at stake and what the perfect outcome would be if the problem is solved. 00:32:34 - Using Storytelling to Evoke Emotion, Describing the perfect outcome in a way that can be felt is crucial. Storytelling evokes emotion, making it easier for people to make a decision. The call to action should demonstrate how your solution solves the real problem, alleviates what's at stake, and delivers the perfect outcome. 00:33:13 - Testimonials and Social Proof, Sharing testimonials and social proof will help people feel comfortable. It's important to tap into how people process information and make decisions. Using quantifiable data is better than squishy information when demonstrating the effectiveness of a solution. 00:33:47 - Additional Resources, The podcast episode mentions additional resources, including episodes on Herding and Social Proof, as well as a link to Michelle Auerbach's episode on the importance of emotion in decision-making. All resources can be found here in the show notes.  00:34:08 - Conclusion, Melina's top insights from the conversation, a recap of the RSPCT framework, and items for you to consider as you implement what you learn. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: The Life-Saving Skill of Story, by Michelle Auerbach Ted Talks: The Official TED Guide to Public Speaking, by Chris Anderson Contagious, by Jonah Berger A More Beautiful Question, by Warren Berger Daring Greatly, by Brene Brown Connect with David:  DavidPaull.com David on Twitter David on LinkedIn Top Recommended Next Episode: The Power of Storytelling, Michelle Auerbach Already Heard That One? Try These:  Anchoring (ep 11) Find Your Purpose, with Gina Bianchini (ep 263) The Importance of Connection, with Nick Epley (ep 265) Framing (ep 16) IKEA Effect (ep 112) Reciprocity (ep 238) The Science of Cool, with Troy Campbell (ep 169) Social Proof (ep 87) Herding (ep 264) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter

Stories have a tremendous impact on the way we perceive the world and make decisions. They are deeply rooted in our human nature and can be incredibly effective for marketing and brand strategy. Utilizing storytelling in marketing creates an emotional connection with the audience, which is integral for influencing decisions and shaping behavior. Stories have a unique ability to captivate attention, evoke emotions, and create a sense of empathy with the characters, all of which are powerful tools for businesses to reach their target customers. During the podcast, Michelle Auerbach shared the importance of focusing on a specific character or situation when crafting a story, to achieve a strong emotional impact. By providing a relatable context, stories can effectively communicate complex messages and ideas that may get lost or appear less engaging when presented as plain data or statistics. Auerbach emphasized that incorporating storytelling into marketing and brand strategy can be an essential factor for success, as it encourages the audience to connect with the brand and take action that benefits everyone involved. Master the art of storytelling for influencing human behavior and boosting your business potential. Implement the three-point story arc for powerful communication and establishing deeper connections. Trigger emotions through captivating storytelling techniques that drive decision-making and prompt action. Reinforce group cohesion and empathy through genuine and relatable stories. Show Notes: 00:00:00 - Introduction, Melina introduces the episode and its focus on the power of story. She explains that over the next few weeks, there will be guests discussing various aspects of storytelling in life and business. 00:03:14 - Michelle Auerbach's Background, Michelle talks about her childhood and her love for stories, which led her to pursue a degree in literature and a career in teaching that as well as ancient world languages. She then transitioned to organizational change and leadership development, using storytelling to help organizations develop culture and change. 00:06:01 - Story's Role in Change Management, Michelle explains how story impacts change management in several ways. Story has a somatic impact on the brain, helps with co-regulation, facilitates learning, and helps people see possibilities they wouldn't otherwise see. Story also helps people focus and remember information, and it produces cortisol and oxytocin, which encourage pro-social behavior. 00:11:10 - The Power of Story in Marketing and Brand Strategy, Melina and Michelle discuss how storytelling is used in marketing and brand strategy. Michelle explains that storytelling can help organizations connect with their audience by creating empathy and helping people understand the impact of their work. By focusing on one person's story, it can create a powerful emotional response and motivate people to take action. 00:13:29 - The Biology of Storytelling, Michelle explains the biology of storytelling and how it impacts the brain. Story produces cortisol and oxytocin, which help people focus and remember. 00:14:50 - The Importance of Storytelling in Business Michelle shares her expertise in storytelling and how it can be applied to business. She emphasizes the power of story in bridging gaps in communication, sharing scientific information, and even changing perspectives. She also suggests a simple three-part story structure that can be used in presentations, conversations, and even conflict resolution. 00:19:28 - Different Story Structures Michelle talks about the diversity of story structures found in different cultures and how they can be used in storytelling. She gives examples of Japanese and West African story structures and emphasizes the importance of not forcing one's own story structure on others. She also suggests ways to learn about other people's favorite stories and how it can build affinity and rapport. 00:25:06 - Using Story Cubes to Open Up Melina shares her experience using Story Cubes in her workshops to help people open up and share more about themselves. Story Cubes are a fun tool that uses images to trigger memories and stories that people might not have shared otherwise. Michelle also shares her love for Story Cubes and how they can help people tap into different parts of their memories and experiences. 00:27:00 - Priming with Storytelling Michelle talks about the concept of priming and how it can be used in storytelling to set the tone and mood for an event or meeting. She gives examples of how organizations with a strong "why" or Credo can use storytelling to bring that purpose into the room and lead from that place. 00:28:59 - Using Story Cards, Michelle created story cards with pictures from art students to help people tell stories and add visuals to presentations. The details in stories evoke feelings that anchor learning and change. 00:30:25 - Using Visuals in Storytelling, Adding visuals to storytelling evokes feelings in another way and helps with group cohesion. It's using our biology to benefit learning and decision-making functions. 00:33:01 - Overcoming Biases with Storytelling, Storytelling helps overcome biases, especially status quo bias, by evoking feelings in the decision-making processes. It's important to make people feel the impact of a situation rather than just presenting data. 00:37:51 - Top Tips for Using Storytelling, Start by listening to other people's stories and figuring out what you like and what's possible for you to do. Practice being a good story listener and asking story questions. Then, tell stories from an authentic place and don't tell people how to feel about a situation. Instead, ask them to tell you about their own experiences. 00:41:26 - Storytelling for Behavior Change, Michelle shares her experience in Japan, where a doorman's story about wearing masks "for politeness" helped her quickly change her behavior. When telling stories, it's important to share your own motivations rather than telling people what to do or feel. 00:43:20 - The Power of Story, Michelle explains that storytelling has been part of human culture for thousands of years. She shares that stories are powerful because they evoke emotions, which are needed to make decisions. A good story is relatable and makes abstract concepts more tangible. By telling stories, you can help people understand and feel your message. 00:44:16 - Everyone Can Tell a Story, Michelle encourages people to embrace their storytelling skills. She says that everyone is born with the ability to tell a story and it's a skill that can be developed. Michelle suggests that to become a better storyteller, you should listen to stories and figure out your own storytelling style. Don't try to be someone else because it will be inauthentic and not work as well. 00:45:30 - Using Storytelling in Business, Michelle explains that storytelling can be used in business to help with change management, persuasive presentations, and creating compelling sales pitches. She recommends using a simple structure to tell stories, answering the questions: what's going on, what did you do, and what happened. The right metaphors and connections can make a story more powerful. 00:48:30 - Connecting Through Stories, Michelle shares that she includes a recipe in her weekly newsletter because food is part of cultural stories. She believes that by sharing stories and experiences, you can create connections with people. Michelle encourages people to use stories to engage with others and make them feel something. 00:49:13 - Conclusion, Melina's top insights from the conversation, a recap of Michelle's three-part storytelling framework, and items for you to consider as you implement what you learned. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: The Life-Saving Skill of Story, by Michelle Auerbach A More Beautiful Question, by Warren Berger The Hype Handbook, by Michael Schein What Your Customer Wants and Can't Tell You, by Melina Palmer Alchemy, by Rory Sutherland Connect with Michelle:  Michelle's Website Michelle on Instagram Michelle on LinkedIn Top Recommended Next Episode: DOSE Brain Chemicals (ep 123) Already Heard That One? Try These:  Change Management (ep 226) Framing (ep 16) Novelty & Stories (ep 54) Priming (ep 252) Mirror Neurons (ep 31) IKEA Effect (ep 112) Availability (ep 15) Overview of Personal Biases (ep 45) Biases Toward Others – Including Groups (ep 46) Status Quo Bias (ep 142) Interview with Michael Schein ep 143) Expect Error (ep 39) Give Feedback (ep 40) Disney (ep 144) What is Behavioral Baking? (ep 155) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter

The manner in which we communicate plays an essential role in contributing to or easing microstress. With the proliferation of remote work and numerous communication channels, it is vital to be mindful and intentional in our communication with colleagues and acquaintances. Establishing positive communication norms can alleviate microstress and create a more collaborative and productive work environment. Rob Cross highlighted the need for thoughtful communication in his conversation with Melina Palmer. He shared that teams should establish clear communication norms, such as using bullet points rather than lengthy paragraphs, avoiding unnecessary CC in emails, and refraining from sending messages after a particular time. By adopting such positive communication practices, teams can work towards fostering a supportive workplace culture and minimizing the impact of microstress on all members. Unveil the methods for recognizing and neutralizing everyday workplace microstressors to elevate your work experience. Comprehend the ramifications of toxic relationships on your well-being and establish pathways for transformation. Benefit from Rob Cross's research on the microstress effect and its applications to your personal and professional sphere. Refine your communication skills to address microstress mindfully and cultivate enriching connections. Bring about small alterations that result in remarkable betterment of your holistic well-being. Show Notes: 00:00:00 - Introduction, Host Melina Palmer introduces Dr. Rob Cross, who is the Edward A. Madden Professor of Global Leadership at Babson College and the co-founder and director of the Connected Commons. The episode is about the new book he co-authored with Karen Dillon, The Microstress Effect. 00:03:02 - Background, Rob Cross talks about his background and his work with the Connected Commons, a consortium of over 150 leading organizations that sponsor research into ways of looking at networks and relationships in organizations. 00:06:32 - The Impact of Negative Relationships, Social psychology has shown that the negative interactions we have tend to have 3x to 5x the impact of the positive. Rob Cross shares his thoughts on the best practices for organizations to cultivate relationships that positively impact their employees' wellbeing. 00:08:15 - Resilience and Connections, Resilience is not just about grit and fortitude. It's about how we fall back on others in difficult times. Rob Cross discovered that there are eight predictable things we get from others when we have the connections in our lives. Without these, it's harder to navigate through difficult times. 00:12:23 - Understanding Microstress, Rob Cross shares how he stumbled onto the idea of microstress through his research. He found that there are 14 pretty consistent types of microstress that tend to accumulate around us each day and week at a pace and volume our brains just aren't designed to handle. These microstresses grow behind the scenes in a way that sneaks up on us until they become overwhelming. 00:14:55 - The Impact of Microstress, Rob discusses the impact of microstress on one's life, particularly when they are not aware of it. He talks about how the stress is just beneath the surface of awareness and can be creeping up on us. 00:17:09 - Types of Microstress, Rob explains that microstressors can come from different sources, including emails, instant messaging applications, and team collaborative spaces. He shares that it affects the metabolism differently, and people under this form of stress metabolize their meals differently. 00:22:44 - Cascading Effects of Microstress, Rob shares that microstressors can lead to cascading effects that people don't often think about. For example, a leader or stakeholder that shifts expectations can cause extra work, and employees may have to protect their team and go back into the team to keep engagement high. 00:24:24 - Tips on Dealing with Microstress, Rob suggests a table in the book with the 14 microstressors and categories of people where they come from, and answering three questions around them. He advises people to think about which stressors have become systemic in their lives and what stress they are creating for others. Rob also mentions the importance of finding groups outside of one's profession that they can be an authentic part of. 00:27:15 - Avoiding Getting into the Minutiae, Rob suggests focusing on getting out of the minutiae by finding groups outside one's profession that one can be an authentic part of. He shares that people who are happiest in this work typically have at least two or three groups outside their profession. 00:28:27 - The Impact of Traumatic Events, When experiencing a traumatic health diagnosis or event, people often reflect on what previously seemed important and realize it was insignificant. Those who maintain dimensionality in their life are better equipped to handle such events. Reflecting on interactions and adapting them can have a significant impact on how one feels day-to-day. 00:30:24 - The Impact of Communication on Stress, Poor communication habits, such as overdramatizing gossip or sending excessive emails, can lead to unnecessary stress and negative work interactions. Thoughtful and intentional communication, such as establishing positive norms and reducing unnecessary communication, can help reduce microstressors. 00:34:06 - Decreasing Collaboration Overload, Collaboration overload, where the amount of collaboration outweighs the increase in work, is a significant source of microstressors. By creating positive norms, such as bullet points instead of long paragraphs, or agreeing on a set number of emails per day, the collaborative footprint of work can be reduced. 00:37:36 - The Impact of Small Communication Habits, Small communication habits, such as sending vague or poorly-worded emails or leaving a negative aftertaste in interactions, can accumulate and have a significant impact on work stress levels. Thoughtful interactions, such as being intentional with emails or setting clear expectations for team collaborations, can help reduce microstressors. 00:41:20 - The Impact of Trust and Expectations, Lack of trust and unclear expectations can lead to stress when working on collaborative projects. People often work harder to compensate for small misses from team members, perpetuating the cycle of stress. Setting clear expectations and building trust can help reduce microstressors in collaborative work environments. 00:42:12 - Drains to Capacity, The 14 microstressors that affect our ability to get work done can be categorized as drains to capacity that hit us emotionally (such as worry or concern for people we care about), or value disconnects, where we slowly feel interactions moving us away from who we set out to be. 00:43:28 - Counterfactual Thinking, Dwelling on what had happened or what might happen in the future can be a big contributor to microstress. This can be interactions abroad where we are trying to protect our team, family, or friends. It can also be a conflictual conversation that needs to happen, which can cause disproportionate stress. 00:45:23 - Specific Ways to Manage Conflictual Conversations, Conflictual conversations can be cathartic and good for people if we keep things data-driven and do specific things. We tend to think a lot about it before, during, and after the interaction, and this can cause stress. There are specific ways to handle conflictual conversations that can reduce stress. 00:47:10 - Importance of Small Stuff, Small stressors in our lives and those of people around us can cause massive amounts of stress that are totally unnecessary. Often, we don't realize the impact that our actions are having on others. The book, The Microstress Effect, provides charts and mockups of questions to ask and ways to work through microstress to have an impact on our lives and those around us. 00:49:31 - Closing Thoughts, Melina's top insights from the conversation, and items for you to consider as you implement what you learn. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.   Get the Books Mentioned on (or related to) this Episode: The Microstress Effect, by Rob Cross and Karen Dillon The Fun Habit, by Mike Rucker Happier Hour, by Cassie Holmes Getting Along, by Amy Gallo  What Your Employees Need and Can't Tell You, by Melina Palmer   Connect with Rob:  Rob on Twitter Rob on LinkedIn Rob's Website Top Recommended Next Episode: Counterfactual Thinking (ep 286) Already Heard That One? Try These:   The Fun Habit, with Mike Rucker (ep 251) Happier Hour, with Cassie Holmes (ep 257) Negativity Bias (ep 223) Find Your Purpose, with Gina Bianchini (ep 263) The Importance of Connection, with Nick Epley (ep 265) Framing (ep 16) IKEA Effect (ep 112) Prefactual Thinking (ep 232) The Speed and Economics of Trust, with Stephen M.R. Covey (ep 148) Reciprocity (ep 238) Getting Along, with Amy Gallo (ep 269) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter

Sam talks about the pros and cons of the Ikea Effect in business.   Don't forget to subscribe to our YouTube channel, and ring the notification bell so you never miss a future upload! https://www.youtube.com/@mindsetrebooted   Follow us on social media: Sam's LinkedIn —https://www.linkedin.com/in/samuel-haye/

Today's episode is all about the network effect. This is something I don't talk about all that often as it isn't purely behavioral economics related, but I did the original episode because a listener requested it and it was really timely as at that time early on in the pandemic. This episode first aired in June of 2020 at a time where people were really looking to shift into a virtual presence. And not surprisingly, there is always a bit of a “field of dreams” mentality with these things, so I wanted to be sure to share a bit about the nuance of networks and how they create value, with tips for people to keep in mind to increase their chances of success. So, you may be wondering, if this doesn't come up often...why the heck are you talking about it again now? Well, I am delighted that on this coming Friday's episode, I had a chance to sit down with Gina Bianchini, Founder and CEO of Mighty, which includes Mighty Networks (the platform the BE Thoughtful Revolution has been on since May of 2021). She has a new book out called Purpose, which is all about creating communities and their importance for us as humans. Because of her Silicon Valley background and history of building great communities, we talked about the network effect in the conversation, making it a great opportunity to refresh this episode as you get ready to tune into that conversation on Tuesday. As you listen today, I encourage you to think about communities. What have they meant to you personally in the past? Where do you connect with others? What do you love about your real communities — those in person you have had over your lifetime? Who do you feel closest to, and what is it you bond over? Is any of that present in your business now? What about your social media experiences? Just keep that in mind as you listen to this episode on the network effect today, as it will put you in a really great place for the conversation with Gina in episode 263 which is coming out in just a couple of days. (And if you aren't already subscribed to the podcast, now is a great time to do so!) Show Notes: [00:38] Today's episode is all about the network effect. [01:30] I am delighted that on this coming Friday's episode, I had a chance to sit down with Gina Bianchini, Founder and CEO of Mighty, which includes Mighty Networks, the platform the BE Thoughtful Revolution has been on since 2021. [03:18] Quick shoutout to Clayton Key for recommending the topic of this episode! [04:46] The network effect is when the value of the business increases as the network grows.  [06:27] The network effect makes it so new people joining the network increase the value for everyone.  [08:49] The three most common types of network effects are: direct, two-sided, and local. A direct network effect is when an increase in usage and users leads to a direct increase in the product or service's value for other users.  [09:55] With the two-sided network effect, when someone from one user group joins the network the value increases for one or more of the other user groups.  [11:14] The key difference between a two-sided and a direct network effect is that the type of user joining matters.  [14:01] To leverage the full potential of the network, any social platform needs to maintain and monitor the quality of its users to ensure there are not bots and spam accounts.   [15:30] The last type of network effect is the local network effect.  [18:10] When you're talking about global effects in a network, it means it is impacting everyone across the entire platform.  [19:38] Network externalities influence a network effort and they can work hand and hand; they are not the same thing. A business that is not built on the network effort still should be considering those network externalities to increase sales. A network effect is not the same as going viral.  [20:57] There are serious hurdles to keep in mind in this kind of model. [22:36] So when setting up this model remember you need to be able to stick it out for a while upfront while it may be costing you money knowing it will pay off once you hit critical mass.  [23:44] This platform model is looking for quality growth not just growth.  [25:04]  Network effects are not quite a house of cards, but being dependent on users working harmoniously together does make a somewhat precarious beast that needs constant monitoring and attention.  [27:32] The five C's of network effect are connection, communication, collaboration, curation, and community.  [29:11] People like and value things more than they invested in building themselves (IKEA Effect!) so if your users help build the platform, provide feedback, and see it being implemented they will overlook small flaws that would otherwise irritate them because they helped to build it.  [30:43] You need to start with a small enough group to get the value for people early. Focus on operational excellence, great branding, and high value so most people who join the network stay for the long haul.  [31:41] Those network externalities of social proof and herding will be very valuable to attract new members to the network. Frame the messaging in a way to showcase the value.  [32:54] You can also have a powerful default option to make it easy for someone to choose to join the network. You want it to be as easy as possible, framed with the value, and set up so you can be part of their habits.  [35:37] Brand extensions are a delicate balance of finding something that is related enough to make some sense for tying it to the original brand but not so close it feels like it should have been the main offering, to begin with.  [37:03] Melina's closing thoughts Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Purpose, by Gina Bianchini What Your Customer Wants and Can't Tell You, by Melina Palmer Friction, by Roger Dooley Sludge, by Cass Sunstein The Experience Maker, by Dan Gingiss Top Recommended Next Episode: Availability Bias (ep 15) Already Heard That One? Try These:  Anthropology, Market Research & Behavioral Economics with Priscilla McKinney (ep 196) Creating Content People Can't Help But Engage With featuring Katelyn Bourgoin (ep 201) Peloton: A Behavioral Economics Analysis (ep 86) Defaults: The "D" in NUDGES (ep 38) Herding (ep 19)  Social Proof (ep 87) Loss Aversion (9) Anchoring & Adjustment (ep 11) Relativity (ep 12) What is Value? (episode 234) Scarcity (ep 14) Peak-End Rule (episode 97) Friction - What It Is And How To Reduce It, with Roger Dooley (ep 72) Subscriptions and Membership Programs (ep 105) Defaults (ep 20) Habits (ep 21) The IKEA Effect (ep 112) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  Network Effects: How Growing Your User Base Can Increase the Value of Your Product or Service The Network Effects Manual: 13 Different Network Effects (and counting) Network Effect VIRALITY VS. NETWORK EFFECTS Reverse Network Effects: Why Today's Social Networks Can Fail As They Grow Larger Network Effects Aren't Enough Why Network Effects Matter Less Than They Used To How To Harness The Power Of Network Effects Network Effects Network Effect 16 Ways to Measure Network Effects Consumer Evaluations of Brand Extensions 6 Worst Brand Extensions from Famous Companies

Today's episode is all about confirmation bias. My oh my, what an important topic when it comes to applying behavioral science to life and work. You have likely heard the term “confirmation bias” before, whether you heard this episode when it first aired back in May of 2020 or not, as this is one of those concepts that gets thrown around a bit. It is easy to understand on the surface, but the depth of its importance and impact isn't always realized.  Because our brains function largely on predictability and a love for the status quo, confirmation bias is part of our lives and work constantly. Did you know that whether or not you believe someone is difficult or easy to work with, can determine whether or not they are easy or difficult to work with? Kids' performance in school has been found to be tied to the way a teacher was told about them more than on their starting academic ability. Your view of your team or a project or a process can all be a filter that your confirmation bias either uses for good or to keep you stuck.  Now, in case you are wondering why I chose to refresh this episode today, it is because of the interview coming up on Friday with Wendy Smith about her book Both/And Thinking which will change your life. It is so good and fantastic. Because of that conversation, it felt like the best thing we could talk about today to set the stage is confirmation bias. As you listen today, think about what your biases are and where you have an “either/or” mindset. Our world is not one of binary choices. There are many opportunities in the both/and space that businesses can benefit from embracing and updating your filters to be set up for them is going to make such a difference. So, keep that in mind as you listen today. Show Notes: [00:39] Today's episode is all about confirmation bias. [01:16] Confirmation bias is part of our lives and work constantly. [03:25] In its most basic form confirmation bias comes down to our brain's desire to be correct and the subconscious filter deciding what gets through and stored and what gets ignored.  [03:59] The subconscious brain can do 11 million bits of information per second. The conscious brain can only do 40 bits.  [05:44] Stereotypes do go hand and hand with confirmation bias and many of these are taught to us intentionally or not when we are very young. [07:28] The four main ways you will see confirmation bias are: 1) not seeking out objective facts, 2) interpreting information to support your existing belief, 3) only remembering details that upheld your belief, and 4) ignoring information that challenges your belief.  [10:33] Studies have shown that seeing facts from an opposing side that contradicts what you believed going in actually has the opposite effect of what they should and can make people double down on their previous beliefs. (This is known as the backfire effect.) [11:18] You are going to seek out information that supports your beliefs and be more likely to believe, remember, and share those items that support your belief. You are also likely to attribute things to beliefs that aren't necessarily true.  [14:01] This reinforcing tendency is because of illusory correlation which is when we overestimate the relationship between two items to reinforce our biases even when little or no relationship exists.  [15:49] We humans are pretty bad listeners by nature because our brains are processing so much information at any given time.  [18:42] It is important to not start the conversation with a predetermined recommendation before they have had a chance to tell you about their situation. Most everyone should have at least two options.  [21:35] We can inadvertently talk people out of something they have chosen to get if we aren't careful.   [23:24] Confirmation bias doesn't have to be a bad thing and it can very much work to your advantage in life and business.  [24:07] Your conscious brain has limited capacity and you can't do everything so don't waste the effort on little unimportant beliefs.  [27:17] People who have been injured will often see themselves as victims, especially while they are dealing with all the legal stuff. Many people have a big improvement when their cases are settled because they are able to get out of that victim mindset. This is confirmation bias in action. [28:24] You can change the belief that has been holding you back if you are willing to put in a little effort.  [29:46] Melina's closing thoughts [30:40] You need to change YOU before trying to change them. [33:19] Try and find a real human connection point that can help you to get away from just seeing them as “that difficult team member.”  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: A More Just Future, by Dolly Chugh Both/And Thinking, by Wendy Smith and Marianne Lewis What Your Employees Need and Can't Tell You, by Melina Palmer Influence, by Robert Cialdini You Have More Influence Than You Think, by Vanessa Bohns Top Recommended Next Episode: Vulnerability Loops (ep 229) Already Heard That One? Try These:  Framing (ep 16) A More Just Future, with Dr. Dolly Chugh (ep 247) IKEA Effect (ep 112) Reciprocity: The Amazing Power of Giving (ep 238) Priming (episode 18) Unity (ep 216) Dr. Robert Cialdini and the (Now!) 7 Principles of Persuasion (ep 157) The Power of Us with Dr. Dominic Packer (ep 178) The Most Important Step in Applying Behavioral Economics: Understanding the Problem (ep 126) Focusing Illusion (ep 89) Get Your D.O.S.E. of Brain Chemicals (ep 123) Decision Fatigue (ep 132) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  How to Effectively Combat Confirmation Bias with Melina Palmer Texas A&M Certificate program Check out the Master Your Mindset Mini-Course

NUGGET CONTEXT Jeffrey speaks about how one could think about engaging people and creating a certain stickiness to the commitment they make as a result. He uses the example of Jon Levy and the concept of Influencer Dinners that he organizes. GUEST Jeffrey Pfeffer has been teaching at Stanford since 1979. He has Co-Authored or Authored 16 books, the last one being, 7 Rules of Power. He is in the Thinkers 50 Hall of Fame, a list that celebrate the all-time greats in the world of Business that are moving the world forward with their original ideas.  We spoke at length about his recent book on Power. More specifically, we spoke about the tension between Power and various other concepts that are doing the rounds in “pop wisdom” - Power vs Autonomy, Power vs Humility, Power vs Vulnerability, Power vs Authenticity and much more. He has a knack of telling things the way they are without mincing words.  Published in Jan 2023. HOST Deepak is a Leadership Advisor and an Executive Coach. He works with leaders to improve their effectiveness and in helping them make better decisions specifically around organizational and career transitions. He currently runs Transition Insight (www.transitioninsight.com) and works with leaders to handle phases of transition thoughtfully. He has worked as an Operations Consultant with KPMG in UK, Strategy Consultant with McKinsey in the US and as a Leadership Consultant with EgonZehnder (a Swiss Leadership Advisory firm) where he helped companies recruit CEOs, CXOs and Board Members and worked on Leadership Development. Deepak is a certified CEO Coach and is an alumnus of IIT Madras, IIM Ahmedabad and London Business School. His detailed profile can be found at https://in.linkedin.com/in/djayaraman OTHER GUESTS 1.Vijay Amritraj 2.Amish Tripathi 3.Raghu Raman 4.Papa CJ 5.Kartik Hosanagar 6.Ravi Venkatesan 7.Abhijit Bhaduri 8.Viren Rasquinha 9.Prakash Iyer 10.Avnish Bajaj 11.Nandan Nilekani 12.Atul Kasbekar 13.Karthik Reddy 14.Pramath Sinha 15.Vedika Bhandarkar 16.Vinita Bali 17.Zia Mody 18.Rama Bijapurkar 19.Dheeraj Pandey 20.Anu Madgavkar 21.Vishy Anand 22. Meher Pudumjee 23.KV Shridhar (Pops) 24.Suresh Naraynan 25.Devdutt Pattanaik 26.Jay Panda 27.Amit Chandra 28.Chandramouli Venkatesan 29.Roopa Kudva 30.Vinay Sitapati 31.Neera Nundy. 32.Deepa Malik 33.Bombay Jayashri. 34.Arun Maira 35.Ambi Parameswaran 36.OP Bhaat 37.Indranil Chakraborty 38.Tarun Khanna 39. Ramachandra Guha 40. Stewart Friedman 41. Rich Fernandez 42. Falguni Nayar 43. Rajat Gupta 44. Kartik Hosanagar 45. Michael Watkins 46. Matt Dixon 47. Herminia Ibarra 48. Paddy Upton 49. Tasha Eurich 50. Alan Eagle 51. Sudhir Sitapati 52. James Clear 53. Lynda Gratton 54. Jennifer Petriglieri. 55. Matthew Walker 56. Raj Raghunathan 57. Jennifer Garvey Berger 58. BJ Fogg 59. R Gopolakrishnan 60. Sir Andrew Likierman. 61. Atul Khatri 62. Whitney Jonson 63. Venkat Krishnan 64. Marshall Goldsmith 65. Ashish Dhawan 66. Vinay Sitapati 67. Ashley Whillans 68. Tenzin Priyadarshi 69. Ramesh Srinivasan 70. Bruce Feiler 71. Sanjeev Aggarwal and T. N. Hari 72. Bill Carr 73. Jennifer Wetzler 74. Sally Helgesen 75. Dan Cable 76. Tom Vanderbilt 77. Darleen DeRosa 78. Amy Edmondson 79. Katy Milkman 80. Harish Bhatt 81. Lloyd Reeb 82. Sukhinder Cassidy 83. Harsh Mariwala 84. Rajiv Vij 85. Dorie Clark 86. Ayse Birsel 87. Ravi Venkatesan E2 88. Pradeep Chakravarthy 89. Dan Pink 90. Alisa Cohn 91. Ayelet Fishbach 92. Thomas Wedell-Wedellsborg 93. Raghu Ananthnarayanan 94. Tarun Khanna EP2 95. Manjari Jaruhar 96. Ethan Kross 97. David Bradford DISCLAIMER All content and opinions expressed in the podcast are that of the guests and are not necessarily the opinions of Deepak Jayaraman and Transition Insight Private Limited. Views expressed in comments to blog are the personal opinions of the author of the comment. They do not necessarily reflect the views of The Company or the author of the blog. Participants are responsible for the content of their comments and all comments that are posted are in the public domain. The Company reserves the right to monitor, edit, and/or publish any submitted comments. Not all comments may be published. Any third-party comments published are third party information and The Company takes no responsibility and disclaims all liability. The Company reserves the right, but is not obligated to monitor and delete any comments or postings at any time without notice.

Today's episode is one that originally aired on June 14, 2019, as part of an 8-part series I called “All the Biases” which took hundreds of biases and sorted them into different categories. Because our brains are complex interconnected webs, this could have been done in many ways and the biases mentioned could belong in multiple areas. I selected groupings based on what I thought would make the most sense to this audience and applying the information about our biased brains into business.  This episode goes through a lot of concepts at a very high level. Unlike the foundations episodes of the podcast, which sometimes have a full hour dedicated to a full concept, many of these will get a sentence or only a few points. This episode is more about bringing your attention to the concepts, what is out there, and to scratch the surface of the complexity of our brains. I chose this episode as the refresh for this week because it mentions ambiguity and uncertainty aversion, which is the topic for this coming Friday's brand new foundations episode, so it felt like a nice way to set the stage for that. Ready to dig in on all the biases? Let's go… Show Notes: [00:39] Today's episode is one that originally aired on June 14, 2019, as part of an 8-part series I did called “All the Biases” which sorted hundreds of biases into different categories. [03:14] Our brains are lazy and they like to take the path of least resistance to get to what they believe to be a good enough answer as quickly as possible.   [04:51] Because we are particularly lazy with math, we rely on the source of whatever is thrown our way. The brain would rather risk being wrong than take the time to do the numbers in everyday interactions.  [07:17] It is important to know what people care about when you set up your messaging.  [08:25] Due to “the less is better effect”, our preference changes when we evaluate things alone versus comparing them against others.  [10:23] Due to the money illusion we tend to concentrate on the nominal or face value of our money instead of thinking of it in terms of how much it can get for us.  We are more likely to spend money in smaller denominations.   [13:09] Due to the IKEA effect people will value things more that they made themselves or partially assembled than things they did not. The endowment effect is where we value things we own more than things we do not.  [15:45] Playing to win is not the same as playing not to lose (game theory).  [15:58] We have all sorts of bad habits when it comes to placing a value on time.  [18:20] If you have something people will be excited about you can make the wait a little more enjoyable to increase the experience. With a mundane task, reducing the wait as much as possible is key (or, often even better as discussed with Dilip Soman in episode 241, is to look at the opportunity within the wait).  [20:44] “Hot hands” are not real (hot hands fallacy) but our brains like to think this is true due to the clustering illusion. Our brains like to look for patterns. [22:27] People are more likely to prefer the things they know to things that are unknown. We are much more likely to choose an option that we know the odds for even if they are terrible because we are so afraid of the unknown (ambiguity / uncertainty aversion). [24:36] Consider the known and know that the unknown doesn't negate everything else when making a decision.  [25:59] When we want something today, we value it differently than tomorrow (time discounting). When we look at tomorrow or things we don't know about we expect the worst even when there is nothing to make us feel that way other than our own natures. [26:55] Most of us don't properly understand how averages impact our lives every day and this can impact the decisions we make in business.  [27:15] Melina shares a story from Thinking Fast and Slow about regressive bias. [29:47] The instructor has attached a causal interpretation to the inevitable fluctuations of a random process.  [32:00] Everything we know to be true is not necessarily true. It is easy to find the right answer to the wrong question.  [33:25] The lesson is to know that our brains like to tell us stories. They write their own rules and details that serve what the subconscious thinks is best. Taking a little extra time and being a little more open can change your view and your success rate.  [34:00] Melina's closing thoughts [35:02] Adapting your lenses and looking from multiple angles and depths is really important to make that possible, which is why an episode like this is so valuable. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: What Your Employees Need and Can't Tell You, by Melina Palmer Behavioral Science in the Wild, by Dilip Soman & Nina Mazar Thinking Fast and Slow, by Daniel Kahneman Nudge, by Richard Thaler & Cass Sunstein Freakonomics, by Steven Levitt & Stephen Dubner Top Recommended Next Episode: Behavioral Science in the Wild with Dilip Soman (episode 241) Already Heard That One? Try These:  Overview of Personal Biases (ep 45) Biases Toward Others – Including Groups (ep 46) An Overview of Memory Biases (ep 48) Present Versus Future Biases (ep 49) Selective Attention Biases (ep 50) Biases Toward Novelty and Stories (ep 54) Anchoring & Adjustment  (ep 11) Loss Aversion (ep 9) IKEA Effect (ep 112) Time Discounting (ep 51) Booms, Bubbles, and Busts (ep 30) Mental Accounting (ep 56) Endowment Effect (ep 139) Negativity Bias (ep 223) The Cobra Effect (ep 220) Game Theory (ep 228) Duration Neglect and the Peak End Rule (ep 97) Planning Fallacy (ep 114) Status Quo Bias (ep 142) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  Less Is Better: When Low-value Options Are Valued More Highly than High-value Options The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence Treatment Decisions Under Ambiguity Ambiguity and Nonparticipation: The Role of Regulation Risk, Ambiguity, and the Savage Axioms Statistics How To How to Feel Like You Have All the Time in the World (even If You Don't)

In today's conversation, I am joined by Dr. Dilip Soman, coauthor of Behavioral Science in the Wild. Dilip is a Canada Research Chair in Behavioural Science and Economics and serves as a Director of the Behavioural Economics in Action Research Centre at Rotman [BEAR]. His research is in the area of behavioral science and its applications to consumer well-being, marketing, and policy. He has written multiple books including The Last Mile, The Behaviorally Informed Organization, and Behavioral Science in the Wild (all of which we will discuss a bit today) and he also teaches a massive open online course called "BE101X: Behavioural Economics in Action" on EdX. That is actually how he and I first got introduced years ago when someone who was taking BE101X tagged us both on Twitter suggesting my podcast as a resource for students taking his class. We had connected a bit then but didn't end up making it the "last mile" to getting a meeting in the books (see what I did there?). So when this new book, Behavioral Science in the Wild came out, I knew it was the perfect time for us to have this first chat and it was so much fun! Listen in to hear about the pain of paying (and some interesting thoughts and research about dental work), the duration heuristic, the importance of virtual progress and supposedly irrelevant factors (SIFs) and so much more! Show Notes: [00:43] In today's conversation, I am joined by Dr. Dilip Soman, coauthor of Behavioral Science in the Wild. [03:31] Much of his early research was about how memory from pain depreciates. [05:01] Memories of factual things remain. Memories of experiences tend to depreciate.  [06:30] Melina shares a recent experience at the dentist where her hygienist said that 40% of people don't want novocaine because they don't like feeling numb after the appointment.  [07:40] Dilip shares a story about his neighbor getting a snow blower.  [09:35] Often people don't want to pay more to get something done sooner. People learn in some domains that the longer the service the better. [12:10] You would think that your overall evaluation of an experience depends on the sum of all of your experiences. Sometimes experiences feel better if you feel like you are making progress as opposed to actual progress. [13:49] We are actually happier when we are driving than sitting in traffic (even if the trip takes longer).  [16:25] Waiting time is an opportunity. It is an opportunity to educate, amuse, and engage people.   [18:09] Dilip shares his background and the work that he does. He is a mechanical engineer by training. [20:10] His entire motivation for coming to academia was to understand why people think and how we can help people lead happier lives. He has tried many ways to take science to the field.  [23:06] Medical sciences actually have a science for how to implement stuff called implementation science – behavioral science should have this too.  [23:41] The first book in his series, The Behaviorally Informed Organization talks about what an organization should do to embed behavioral science.  [25:15] Behavioral Science in the Wild was written to tackle the challenge that the results are not as formidable as we would like them to be.  [26:58] SIFs are supposedly irrelevant factors, things that we think should not influence decisions but do.  [29:04] Every intervention could have multiple interpretations and pathways.  [31:11] Successfully scaling an intervention doesn't mean that intervention has to be homogenous. You don't have to do the same thing for everyone. Often you actually need to customize it.  [32:23] There are two sources of differences in situations that might cause the effect of our interventions to change.  [34:47] Oftentimes we explain failures by just saying it is a different context (don't let this be your excuse and stop there).  [37:34] The moment you change the lens to try and understand the friction, you start seeing things.   [37:44] Think small. The success of big ideas gets tripped up by small things. [39:22] Sometimes it is the little stuff that trips people up.  [41:02] Sometimes the simplest solutions are the best ones.  [43:16] Melina shares her closing thoughts.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Behavioral Science in the Wild, by Dilip Soman & Nina Mazar The Behaviorally Informed Organization, by Dilip Soman Nudge, by Richard Thaler & Cass Sunstein The Last Mile, by Dilip Soman Misbehaving, by Richard Thaler Connect with Dilip:  Behavioural Economics in Action at Rotman (BEAR) Dilip on LinkedIn Dilip on Twitter Top Recommended Next Episode: Do Nudges Work? with Michael Hallsworth (episode 218) Already Heard That One? Try These:  Pain of Paying (episode 240) Confirmation Bias (episode 102) Peak-End Rule (episode 97) IKEA Effect (episode 112) Surprise and Delight (episode 60) Framing (episode 16) Defaults: The "D" in NUDGES (episode 38) How To Change, an interview Dr. Katy Milkman (episode 51) Hawthorne Effect (episode 117) How to Finally Change Your Behavior (So it Sticks) (episode 81) How To Set Up Your Own Experiments (episode 63) Friction - What It Is And How To Reduce It, with Roger Dooley (episode 72) Precommitment (episode 120) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  The Duration Heuristic Virtual Progress A Megastudy of Text-Based Nudges Encouraging Patients to Get Vaccinated at an Upcoming Doctor's Appointment Behaviourally Informed Organizations

I built it, so I love it! That's right it's the IKEA effect. We explain all on today's Bitesize Baffled!If you want to get involved then get in touch:Email us info@baffledpod.comFollow us on Instagram and TikTok @BaffledPodAnd see more of us on our YouTube---A Create Podcast Hosted on Acast. See acast.com/privacy for more information.

In today's conversation, I am joined by Dr. Tessa Misiaszek, coauthor of Branding That Means Business. Tessa is an instructor with Harvard Professional Development Programs, as well as a Professor at Hult International Business School. She brings extensive experience developing human capital strategies to improve business communications. Previously she served as CEO of Empathetics, Inc. – a company that developed empathic communications training for healthcare professionals, and she is currently the Head of Research for Korn Ferry. She is also one of the hosts of The Happy At Work Podcast, which I was honored to be a guest on recently discussing my book, What Your Employees Need and Can't Tell You. Today, Tessa is here discussing her new book, Branding that Means Business, which she co-authored with Matt Johnson, who was on the show two weeks ago talking about the customer side of branding. Today, Tessa and I look a little more on the employee side of things and how much that matters for brands. Listen in to learn more. Show Notes: [00:43] In today's conversation, I am joined by Dr. Tessa Misiaszek, coauthor of Branding That Means Business. [02:41] Tessa shares about herself and the work she does.  [04:06] Tessa met Matt in England and they had an argument about empathy. [06:06] Her debate with Matt was if empathy had a scaling issue and if empathy can deplete you as a person.  [08:13] Tips for working with a co-author? If you go into business or create a start-up with a partner it is like a marriage. If it goes bad, it can go really bad. You want to make sure you have the right partner at the onset.  [11:04] Today we are going to talk about the internal functioning of marketing, branding, and culture.  [11:45] The function of marketing is value creation.      [13:45] A brand is not marketing. A brand is an asset to your marketing strategy. [16:17] Authenticity needs to tie through everything and the outward messaging to customers matters.   [18:41] At the end of the day it is the transparency that builds trust and once consumers have trust that you are doing what you say you are they are more likely to be loyal and forgiving if something happens.  [22:05] The more empathy you can have for the way that your consumers live their lives and think about how your product and service are integrated into the way they live their lives that will allow you to build a more authentic brand connected to them.  [23:42] Brand is really the great differentiator today.   [26:42] Empathizing with the customers is crucial.  [29:00] As a brand you can't be all things to all people so don't try to be.  [29:49] Companies are only as good as the people that run them. Being able to really connect that purpose to the employee organization and culture that you develop within the company is very important.   [31:50] Mission and values are just the beginning. Next, you have to think about the infrastructure and operations.  [33:54] Zappos worked on creating and building a culture that really engaged the employees and then delivered on that and drive everything about the company.  [35:28] Melina shares Zappos' ten core values. Tessa recommends that start-ups start with five unique authentic values. [37:14] If we all say we have the best service then nobody has the best service unless you are really living that. It is not enough to just say it, you have to show it.  [40:09] Values are not just words on a board. You have to think about how these values will evolve over time. To stay true to that as a company you have to continue to innovate based on those values.  [42:50] There should be an inventory once a year of company values.   [44:35] Tessa's podcast Happy At Work talks about organizational culture, employee engagement, and how to create a positive workplace environment.   [45:09] Melina shares her closing thoughts.  [46:03] Your brand promise may not be the same as your core values...and even if you don't have something written out anywhere (yet) or aren't really living those days in and day out (yet) consider this an opportunity to look at those and see how you can be doing better. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Branding That Means Business, by Matt Johnson and Tessa Misiaszek Blindsight, by Matt Johnson and Prince Ghuman What Your Employees Need and Can't Tell You, by Melina Palmer The Speed of Trust, by Stephen M.R. Covey Delivering Happiness, by Tony Hsieh Connect with Tessa:  Tessa on LinkedIn Tessa on Twitter The Happy At Work Podcast Top Recommended Next Episode: Branding That Means Business with Matt Johnson (episode 231) Already Heard That One? Try These:  Neuroscience and Psychology in the Business World, An Interview with Matt Johnson  (episode 160) Why We Like the Things We Like, with Prince Ghuman, coauthor of Blindsight (episode 172) Introducing Kwame Christian and How to Use the Compassionate Curiosity Framework for Difficult Conversations (episode 107) What is Value? (episode 234) How to create a brainy brand (episode 230) That Time I Went Viral… with Dr. Daniel Crosby (episode 212) Reciprocity (episode 23) The Speed and Economics of Trust, an Interview with Stephen M.R. Covey (episode 148) IKEA Effect (episode 112) The Power of Us with Dr. Dominic Packer (episode 178) Bikeshedding (episode 99) Time Discounting (episode 51) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  Korn Ferry Empathy Company Zappos 10 Core Values Embracing Change: Melina's Episode on The Happy At Work Podcast Automatic Effects of Brand Exposure on Motivated Behavior: How Apple Makes You “Think Different”