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Wednesday, November 4, 2009

Which would you choose – chocolate, vanilla, or strawberry ice cream?

Which would you choose – chocolate, vanilla, or strawberry ice cream? A 2-bedroom condo only 10 minutes from the office or a 3-bedroom home 30 minutes from work?


In a book titled “How We Decide” by Jonah Lehrer, the author delves into the neuroscience behind our decision making. Our decisions are based on emotion and our connection to the topic. Decision-making has actually evolved over time, and we make decisions, in most cases, BEFORE we have assimilated all of the available data.

We typically will make up our minds using “loss aversion”, in other words, we will choose the option that keeps us from feeling bad, and we prefer the choice that will make us feel good. Decision making is part of our biological make-up. However, knowing your “reflex response” may help you recognize it and keep you from being misled by choices provided to you by marketers who would attempt to manipulate your emotions.

I attended a great presentation by David Goldsmith (www.davidgoldsmith.com) where he shared techniques one could use to make better decisions. The trick is to ensure that you fully and precisely identify your challenge and express it in the way that it “should” happen. Then look at it from a “future oriented” perspective. Example: Challenge= What would it take to increase my sales by 12%? Using this approach will yield more effective results. Especially since, according to a University study, we all make over 200 decisions per day related to food!

Another value used in decision making is time savings. Many in today’s fast paced work would choose to pay a higher price for convenience. We prefer “added-value” as we review our options.

Your Trusted Choice agent at Treutel Insurance can save you time and money on your complex decisions regarding insurance coverages. Contact Treutel Insurance via CHAT or EMAIL: info@treutel.com or PHONE: 228-467-5662, or FAX: 228-466-4314 or FACEBOOK or MERCHANTCIRCLE or at our WEBSITE: http://www.treutel.com/.