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I’ve been discussing how psychology influences “rational” decision making, based on Daniel Kahneman’s book, Thinking, Fast and Slow. (See Why You’re Underpricing Your Proposals and Selling Results and Regret.) Up today, another concept from Kahneman: The evaluability hypothesis. This means … Read More

In my last post on Economic Theory vs Human Nature, I discussed ideas about loss aversion from Daniel Kahneman’s great book, Thinking, Fast and Slow. In this post, we’ll look at another concept from the book: how regret, or, more … Read More

Economic theory postulates that humans are rational beings who always make optimal decisions. In other words, the theory assumes that humans are not human. While economic theory often works well in describing real world behavior, the times when it falls … Read More

Ah, high school english class. A time to read classic literature, build your vocabulary and learn to write proper essays. Reading great literature is wonderful, but the latter 2 goals were often in conflict. Because the way teachers measure your … Read More

Doctors spend years in school and training so they can learn as much as possible about the incredibly complex human body. They get no training in sales. Only recently have med schools realized that teaching good “bedside manner” might be … Read More

In the giddy rush of the sales cycle, we often do whatever we can to “get the deal signed.” I’m not even talking about the shadiness that occurs in many big deals, where the sales rep is not responsible for … Read More

(If you haven’t seen the first two rules in this series, check out: Don’t create your own price objections. Validate price objections.) If you have a price objection, and you’ve validated it as a legitimate price objection, it’s time to … Read More