ABCs of Making Purchasing Decisions: Part 1

At Brand Impact, we are always looking for ways we can develop our thinking and evolve our business practices. We would like to share some of the insights and knowledge that has enabled us to grow as a business and as individuals. This is our brief ABCD guide to decision making, understanding why we make certain decisions, and how to move beyond the barriers to finding that fresh approach.

 

A is for Awareness

 

Ensuring that we make the best decisions for our companies’ can be difficult, especially in a world where the demands on businesses are ever changing. Our awareness of how to approach problems is greatly inhibited by our lack of understanding of why we do the things we do. To become better decision-makers, it is important that we appreciate and understand our level of awareness and the power of the subconscious mind.

 

We can become more aware of our actions by remembering the following.

 

  1. Reflecting less and noticing more. This means spending less time looking back and more time considering the here and now.

 

  1. Choosing where to focus our efforts and diligently pursuing the associated goals.

Keeping track of those goals and holding ourselves accountable regarding their achievement.

 

  1. Ask others to hold you accountable for achieving the goals you have set. Our own memories are self-editing devices that change over time. A person you trust is an invaluable asset when it comes to remaining on course and on target.

 

 

B is for Bias

 

We all suffer from certain natural biases when it comes to making decisions. These are unconscious factors that weigh upon us and influence the choices we make.  They often get in the way of looking at things from a fresh angle that can unlock great rewards.

 

Some key examples of natural biases are:

 

  1. Automatically assuming that doing things the way we have always done them is the best way. We are all guilty of this to some extent. However, when we truly analyse the way we work and our processes we often discover a new perspective and approach.

 

  1. Not thinking from the perspective of our customers. It is often the case that our biases shape how we see them and the problems they need us to solve. This forms a barrier to gaining a better understanding of them and seeing the world from their point of view.