When we talk about Anchoring we’re talking about a cognitive bias where we intend to deal too strongly with an initial piece of information relating to our advancement in all endeavors. This is a judgment error that can be very dangerous and it affects our decision making hence making us stagnant towards growth and self-development. You may start to reason, well, the anchor is what holds something together, what point are you trying to make? Yes, I get it! In our present economy, lots of people have defined their outlined goals and purpose of what they want and have made plans towards achieving that but are not open to new ideas that might help them shape their business ideas. That’s because they have cultivated their mindset to just have one structure of doing this. Don’t get me wrong, businesses or organizations do have a flow, and sometimes that has to do with leadership (organization structure and function) or the workflow. These too can be adjusted with time for growth by the business owners.
As an entrepreneur you must be diverse not just ONE WAY otherwise your progress will be very slow. This is where you need to update your beliefs and create room for better ideas.
How Do I Know If I Am Not A Victim Of Anchoring Bias?
Let’s take, for instance, the present pandemic, which caught most businesses off guard. We were all given instructions to keep us safe but most people tend to create their own laws to suit themselves and expose themselves to dangers. Wear masks, stay indoors, avoid crowds, wash your hands, etc some people still are sarcastic towards their own life that nothing’s going to happen and it just doesn’t make sense at all. Wearing masks became a problem and they were justifying themselves with scientific theories of wearing masks instead of braising reality to stay safe. With this attitude they continue working on their business, as usual, staying unprepared, not stocking up and when there’s a lockdown, it hits them completely down and some even close down. Do you like being pushed to get things done or are you persuaded with ideas to reason towards for your own improvement? In your business do you go with the idea you’ve created and steps to follow other than looking for new ideas that can help you move fast? A good listener follows instructions and is open to breakthrough with necessary cautions.
On What Grounds Is Your Business Anchored?
Let me open up the cave for the caveman to see the world as business people do. A caveman understands nature and device tactics in order to survive wherever he finds himself. Curiosity doesn’t end for the caveman, living is an adventure and they know the rules of change to apply to each situation. The caveman takes more risks to survive. Now imagine if a caveman were to own a business in this economy, he would develop something out of the blue each day spontaneously as this is one way their brains have been developed to adapt and survive in a new environment. He would love to explore and try new things and might eventually become better than a businessman fighting anchoring biases.
Most people just have one brand and have their decision on how to run it and not open to changes. At least try to strategize!! This has to be changed for growth. So on what grounds is your business anchored? Are you intentional? Do you have a mind-blowing idea and want to get there but you’re afraid to try something new that might be too quick and you’ll lose? Are you so bent on following that structure and not welcoming ideas to be better? Are you open to changes or have your own idea that is not helping you get to the desired results? You can do yourself a big favor by breaking free from this judgment error that’s hindering your progress. Be open to changes, be a listener, and do not shut the door to any idea that can better you or your business. Learn to be open to discuss your confusion with people who have your best interest at heart. Be flexible to approach changes. Shake off that anchoring and be a better band!!