The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

Melina Palmer

Consumers are weird. They don't do what they say they will do and don't act how we think they "should." Enter Melina Palmer, a sales conversion expert with a personal mission to make your business more effective and brain friendly. In this podcast, Melina will take the complex concepts of behavioral economics (the study and science of why people buy - or not) and provide simple, actionable tips you can apply right away in your business. Whether you're a small business or thriving corporation, Melina's tips can help your business increase sales and get more customers. read less
ビジネス・経済ビジネス・経済

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433. The Art of Strategic Relationships: A Conversation with Andy Lopata
3日前
433. The Art of Strategic Relationships: A Conversation with Andy Lopata
In this episode of The Brainy Business podcast, Melina Palmer welcomes Andy Lopata, a renowned specialist in professional relationships and networking. With nearly 25 years of experience, Andy has been recognized as one of Europe's leading business networking strategists by the Financial Times. He is an international speaker, podcast host, and author of six books, including the Financial Times Guide to Mentoring, co-authored with Ruth Gotian. In this episode, Andy shares his insights on investing in relationships and creating a network of people who are willing to help and follow through on those intentions. The conversation delves into the importance of building, nurturing, and leveraging professional relationships, and how these elements contribute to executive success. Andy also discusses the concept of vulnerability in asking for help, and the interconnectedness of curiosity, listening, authenticity, and vulnerability in networking. In this episode: Learn the three stages of building professional relationships: building, nurturing, and leveraging.Understand the importance of vulnerability in asking for help and how to frame your requests effectively.Discover why people are motivated to help others and the significance of liking and trusting in professional relationships.Explore the concept of the "curiosity cycle" and how it enhances networking and relationship building.Get practical tips on finding and engaging mentors, and the importance of reciprocity in professional networking. Show Notes: 00:00:00 - Introduction Melina Palmer introduces Andy Lopata and sets the stage for a conversation on professional relationships and networking. 00:01:45 - Andy's Background Andy shares his extensive background in networking and professional relationships, including his books and speaking engagements. 00:04:30 - Connected Leadership Andy explains the concept of connected leadership and the importance of professional relationships in executive success. 00:08:00 - Building and Nurturing Relationships Discussion on the stages of building, nurturing, and leveraging professional relationships and the challenges associated with each stage. 00:14:00 - Motivation to Help Andy explores why people are motivated to help others and the role of liking and trusting in professional support. 00:20:00 - Vulnerability in Asking for Help The conversation shifts to the importance of vulnerability in asking for help and how to frame requests effectively. 00:28:00 - The Curiosity Cycle Introduction to Andy's new model, the curiosity cycle, and its impact on networking and relationship building. 00:34:00 - Mentoring and Reciprocity Practical tips on finding mentors, engaging them, and the role of reciprocity in professional networking. 00:40:00 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe Brainy Business on Youtube Connect with Andy: Andy’s WebsiteLinkedInX 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 PalmerInfluence, by Robert Cialdiniinfluence Is Your Superpower, by Zoe ChanceYou Have More Influence Than You Think, by Vanessa BohnsInvisible Influence, by Jonah Berger Top Recommended Next Episode: Ruth Gotian Interview (ep 419) Already Heard That One? Try These:  Robert Cialdini Interview (ep 312)Social Proof (ep 87)Reciprocity (ep 238)Zoe Chance Interview (ep 308)Unity (ep 216) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter The Curiosity Cycle: Developing Trust and Engagement
432. Mastering Ethical Influence with Brian Ahearn (Refreshed Episode)
5日前
432. Mastering Ethical Influence with Brian Ahearn (Refreshed Episode)
In this episode of The Brainy Business podcast, Melina Palmer dives into the realm of ethical influence with Brian Ahearn. Brian, a distinguished expert in the field, is one of only a dozen individuals worldwide to hold the Cialdini Method Certified Trainer designation and one of a handful to have earned the Cialdini Pre-Suasion Trainer designation. As a faculty member of the Cialdini Institute, Brian is dedicated to teaching the science of influence to help people achieve greater professional success and personal happiness. Throughout the episode, Brian shares his extensive experience in applying the psychology of persuasion in various professional settings, from sales training to leadership coaching. He discusses the rigorous process of becoming a Cialdini-certified trainer and emphasizes the importance of ethical influence. Brian also delves into practical examples from his book, Influence People, highlighting actionable tips for effectively persuading others in a lasting and ethical manner. In this episode: Explore the principles of ethical influence and how they can be applied in business and personal contexts.Learn about the rigorous certification process for becoming a Cialdini Method Certified Trainer.Discover practical examples and tips from Brian's book, "Influence People."Understand the importance of ethical persuasion and how to avoid manipulation.Gain insights into the power of social proof, reciprocity, and other principles of influence. Show Notes: 00:00:00 - Introduction Melina Palmer introduces the topic of ethical influence and welcomes Brian Ahearn to the podcast. 00:02:00 - Brian’s Background Brian shares his journey in the field of influence and his certification as a Cialdini Method Certified Trainer. 00:06:30 - The Cialdini Certification Process Brian discusses the rigorous process of becoming a certified trainer and the importance of presenting research accurately. 00:12:00 - Applying Influence in Business Brian explains how he applies the principles of influence in sales training and leadership coaching. 00:18:00 - The Importance of Ethical Influence The conversation shifts to the significance of using influence ethically and responsibly. 00:24:00 - Practical Examples from Influence People Brian shares practical tips and examples from his book, including the power of social proof and the impact of personal touches like handwritten notes. 00:32:00 - The Post-It Note Study Brian discusses a study on the effectiveness of handwritten post-it notes in increasing response rates. 00:38:00 - The Power of Asking Questions Brian emphasizes the importance of ending emails with questions to increase engagement and response rates. 00:45:00 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe Brainy Business on Youtube Connect with Brian: Brian’s WebsiteLinkedInX 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 PalmerInfluence, by Robert Cialdiniinfluence Is Your Superpower, by Zoe ChanceYou Have More Influence Than You Think, by Vanessa BohnsInfluence PEOPLE, by Brian Ahearn Top Recommended Next Episode: Robert Cialdini Interview (ep 312) Already Heard That One? Try These:  Vanessa Bohns Interview (ep 318)Social Proof (ep 87)Reciprocity (ep 238)Zoe Chance Interview (ep 308)Unity (ep 216) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter
431. Is Your Work Worth It? Exploring Purpose with Christopher Wong Michelson
25-09-2024
431. Is Your Work Worth It? Exploring Purpose with Christopher Wong Michelson
In this episode of The Brainy Business podcast, host Melina Palmer welcomes Christopher Wong Michelson, co-author of Is Your Work Worth It?. Christopher, a philosopher with 25 years of experience advising business leaders, explores the profound questions surrounding the meaning and value of work. With a PhD in philosophical ethics and aesthetics, Christopher has held significant roles at PwC and academic positions at the Wharton School and NYU's Stern School of Business. His extensive background provides a rich foundation for exploring how work contributes to our sense of purpose and identity. Throughout the episode, Christopher shares insights from his journey, including his transition from academia to management consulting, and the experiences that shaped his understanding of meaningful work. He discusses the impact of 9/11 on people's perceptions of work and life, and how the pandemic has similarly prompted many to reassess their professional and personal priorities. The conversation touches on the philosophical aspects of work, the balance between job, career, and calling, and the inherent trade-offs in pursuing meaningful work. In this episode, you will learn: The philosophical questions that drive our understanding of work's meaning.How significant events like 9/11 and the pandemic shape our perceptions of work.The balance between job, career, and calling, and their impact on our lives.The concept of "transfer pricing" in personal and professional life.Strategies for finding balance and fulfillment in your work. Show Notes: 00:00:00 - Introduction, Melina introduces Christopher Wong Michelson, co-author of Is Your Work Worth It? and sets the stage for a discussion on the philosophical aspects of work. 00:02:30 - Christopher's Background and Journey Christopher shares his journey from academia to management consulting and his experiences at PwC and various academic institutions. 00:10:45 - The Impact of 9/11 and the Pandemic Discussion on how significant events like 9/11 and the pandemic have prompted people to reassess their work and life priorities. 00:18:32 - The Question of Work's Worth Christopher delves into the central question of the book, Is Your Work Worth It? and the importance of finding meaning in work. 00:25:54 - Job, Career, and Calling Exploration of the different orientations towards work and the trade-offs involved in pursuing a calling. 00:34:06 - Transfer Pricing in Personal and Professional Life Christopher explains the concept of transfer pricing and how it can be applied to balance personal and professional investments. 00:40:22 - Finding Balance and Fulfillment Strategies for incorporating meaningful activities into your work and life to achieve balance and fulfillment. 00:46:15 - Advice for Organizational Leaders Tips for leaders on how to create meaningful work environments that encourage employees to find value and purpose in their roles. 00:50:30 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe Brainy Business on Youtube Connect with Christopher: LinkedInChristopher’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: Good Habits, Bad Habits, by Wendy WoodIndistractable, by Nir EyalHow to Change, by Katy MilkmanHappier Hour, by Cassie HolmesIs Your Work Worth It?, by Christopher Wong Michaelson and Jennifer Tosti-Kharas Top Recommended Next Episode: Nick Hobson Interview (ep 382) Already Heard That One? Try These:  Habits (ep 256)Status Quo Bias (ep 376)Tapping into the Power of Habit (ep 368)Wendy Wood Interview (ep 428)Sludge (ep 384) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter
430. Unlocking the Secrets of Behavioral Change with Dr. Katy Milkman (Refreshed Episode)
23-09-2024
430. Unlocking the Secrets of Behavioral Change with Dr. Katy Milkman (Refreshed Episode)
In this episode of The Brainy Business podcast, host Melina Palmer welcomes Dr. Katy Milkman to discuss the intricacies of creating lasting behavior change. Katy, a professor at the Wharton School and co-director of the Behavior Change for Good Initiative, shares insights from her book How to Change. Melina and Katy discuss fresh starts, temptation bundling, and the importance of understanding the underlying barriers to change. They also cover the surprising benefits of giving advice to others as a means of boosting one's own confidence and motivation. Through engaging stories and practical examples, Katy illustrates how small, thoughtful interventions can lead to significant improvements in behavior and outcomes. In this episode: Explore the concept of fresh starts and how they can motivate behavior change.Understand the power of temptation bundling to create lasting habits.Learn about the psychological benefits of giving advice to others.Discover the importance of identifying the right barriers to change for effective interventions.Gain insights into Katy Milkman's research and practical applications for behavior change. Show Notes: 00:00:00 - Introduction Melina introduces the episode and the topic of behavior change with Dr. Katy Milkman. 00:04:30 - Katy Milkman's Background Katy shares her background, her role at the Wharton School, and her work on the Behavior Change for Good Initiative. 00:09:45 - Fresh Starts Katy discusses the concept of fresh starts and how they can be leveraged to motivate behavior change. 00:15:20 - Temptation Bundling Melina and Katy explore the idea of temptation bundling and its effectiveness in creating lasting habits. 00:21:18 - Giving Advice to Others Katy explains the surprising benefits of giving advice to others and how it can boost one's own confidence and motivation. 00:27:54 - Identifying Barriers to Change The conversation shifts to the importance of identifying the right barriers to change for effective interventions. 00:34:06 - Real-World Applications Katy provides examples of how her research can be applied in real-world scenarios to improve behavior and outcomes. 00:40:22 - The Role of Mindset The discussion highlights the role of mindset in achieving behavior change and the power of believing in oneself. 00:46:15 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe Brainy Business on Youtube Connect with Katy: Katy’s WebsiteBehavior Change for Good InitiativeKaty on TwitterKaty on 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: Good Habits, Bad Habits, by Wendy WoodIndistractable, by Nir EyalHow to Change, by Katy MilkmanHappier Hour, by Cassie HolmesThinking Fast and Slow, by Daniel Kahneman Top Recommended Next Episode: Temptation Bundling (ep 250) Already Heard That One? Try These:  Habits (ep 256)Status Quo Bias (ep 376)Tapping into the Power of Habit (ep 368)Wendy Wood Interview (ep 428)Sludge (ep 384) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter
429. Mastering the Art of Learning: Insights from Scott Young
18-09-2024
429. Mastering the Art of Learning: Insights from Scott Young
In this  episode of The Brainy Business podcast, host Melina Palmer welcomes Scott H. Young, the Wall Street Journal bestselling author of Ultralearning and Get Better at Anything. Scott shares his extensive insights into learning, cognitive science, and the psychology behind mastering new skills. Known for his MIT Challenge and year-long language learning adventure, Scott discusses the importance of immersive learning, repetitive practice, and the role of feedback in achieving fluency and proficiency. Scott delves into the fascinating world of how we learn and improve, emphasizing the significance of learning from others, the challenges of problem-solving, and the necessity of focused practice. He also touches on the concept of "desirable difficulties" and how they enhance long-term retention and skill mastery. This episode is a treasure trove for anyone looking to understand the mechanics of learning and how to apply these principles to get better at anything. In this episode: Discover the key components of effective learning: See, Do, and Feedback.Understand the importance of repetitive practice and immersion in mastering new skills.Learn about the concept of "desirable difficulties" and how they improve long-term retention.Explore the role of feedback in learning and how to create environments that foster expertise.Gain insights into the psychological aspects of learning and overcoming common barriers. Show Notes: 00:00:00 - Introduction Melina introduces Scott and highlights his background and work in the field of learning and cognitive science. 00:03:30 - Scott's Background and Projects Scott shares his journey and notable projects, including the MIT Challenge and his year-long language-learning adventure. 00:11:20 - The Importance of Immersion Scott discusses the benefits of immersive learning and how it accelerates fluency and proficiency. 00:21:45 - Repetitive Practice and Fluency The conversation explores the role of repetitive practice in achieving fluency and the difference between fluency and overall proficiency. 00:31:10 - Desirable Difficulties Scott explains the concept of "desirable difficulties" and how they enhance learning and retention. 00:41:00 - The Role of Feedback The discussion highlights the importance of feedback in learning and how to create environments that foster expertise. 00:45:00 - Practical Tips for Learning Scott offers practical advice for applying these learning principles to various skills, including public speaking and business. 00:47:00 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe Brainy Business on Youtube Connect with Scott: LinkedIn X  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: Good Habits, Bad Habits, by Wendy WoodIndistractable, by Nir EyalHow to Change, by Katy MilkmanGet Better at Anything, by Scott H. YoungUltralearning, by Scott H. Young and James Clear Top Recommended Next Episode: How to Set, Achieve and Exceed Brainy Goals (ep 70) Already Heard That One? Try These:  Habits (ep 256)Status Quo Bias (ep 376)Katy Milkman Interview (ep 151)Tapping into the Power of Habit (ep 368)Wendy Wood Interview (ep 428) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter
428. Habits Unveiled: The Science of Good and Bad Habits with Dr. Wendy Wood (Refreshed Episode)
16-09-2024
428. Habits Unveiled: The Science of Good and Bad Habits with Dr. Wendy Wood (Refreshed Episode)
In this episode of The Brainy Business podcast, host Melina Palmer revisits her insightful conversation with Dr. Wendy Wood, author of Good Habits, Bad Habits. This episode dives deep into the psychology behind habits, exploring how they are formed, maintained, and changed. Wendy, a leading expert in behavioral science, shares practical tips and research-backed strategies to help you understand and harness the power of habits in your personal and professional life. Melina and Wendy discuss the foundational role habits play in our daily routines and decision-making processes. They emphasize the importance of recognizing both good and bad habits and provide actionable advice on how to reinforce the positive ones while mitigating the negative. The episode is packed with real-world examples, including how small changes in environment and behavior can lead to significant improvements in habit formation and maintenance. In this episode: Understand the basics of habit formation and the role of context and rewards.Learn strategies to make good habits easier and bad habits harder.Explore practical examples of habit changes, such as altering morning routines and fitness habits.Discover the impact of environmental cues on habitual behavior.Gain insights into how businesses can leverage habit science to improve customer engagement and satisfaction. Show Notes: 00:00:00 - Introduction Melina introduces the episode and highlights the importance of understanding habits in both personal and professional contexts. 00:04:12 - The Role of Habits Wendy explains the foundational role of habits in our daily lives and how they operate on an unconscious level. 00:09:30 - Context and Rewards Discussion on how habits are formed through context and rewards, with examples like morning coffee routines. 00:15:20 - Disruption and Opportunity The impact of the COVID-19 pandemic on habits and how disruptions can create opportunities for new habit formation. 00:21:45 - Practical Strategies Tips for making good habits easier and bad habits harder, including environmental adjustments and rewarding behaviors. 00:30:10 - Habit Formation in Business How businesses can leverage habit science to improve customer engagement and satisfaction, with examples from retail and fitness industries. 00:40:00 - Case Studies and Research Wendy shares intriguing case studies and research findings on habit formation and change. 00:50:30 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe Brainy Business on Youtube Connect with Wendy: Wendy Wood at USC MarshallWendy 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: Good Habits, Bad Habits, by Wendy WoodIndistractable, by Nir EyalHow to Change, by Katy MilkmanHappier Hour, by Cassie HolmesThinking Fast and Slow, by Daniel Kahneman Top Recommended Next Episode: Michael Norton Interview (ep 383) Already Heard That One? Try These:  Habits (ep 256)Status Quo Bias (ep 376)Katy Milkman Interview (ep 151)Tapping into the Power of Habit (ep 368)Sludge (ep 384) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter
427. The Mentorship Mindset: Nobel Insights with Dr. Bob Lefkowitz
11-09-2024
427. The Mentorship Mindset: Nobel Insights with Dr. Bob Lefkowitz
In this episode of The Brainy Business podcast, host Melina Palmer welcomes Nobel Prize winner Dr. Bob Lefkowitz for an insightful discussion on mentorship, focus, and the power of saying no. Dr. Lefkowitz, a distinguished professor at Duke University Medical Center, shares his journey from a passionate physician to a Nobel laureate in Chemistry, highlighting the impact of his research. Dr. Lefkowitz delves into the importance of mentorship, recounting his own experiences and the significance of his mentee, Brian Kobilka, with whom he shared the Nobel Prize. He emphasizes the value of asking good questions, being thoughtful, and the crucial skill of focusing like a laser on what truly matters. This episode is packed with wisdom on how to balance stubborn pursuit with strategic decision-making in both scientific research and business. In this episode: Understand the significance of mentorship and how it shapes successful careers.Discover the importance of focus and saying no to distractions.Gain insights into the power of storytelling and synthesizing data.Explore practical advice for fostering creativity and seeing things from different perspectives. Show Notes: 00:00:00 - Introduction Melina introduces Nobel Prize winner Dr. Bob Lefkowitz, highlighting his distinguished career and contributions to science and medicine. 00:04:30 - Dr. Lefkowitz's Background Dr. Lefkowitz shares his journey from aspiring physician to Nobel laureate, detailing his research on G protein-coupled receptors. 00:10:15 - The Importance of Focus Dr. Lefkowitz discusses the critical role of focus in achieving success and how he developed this skill over his career. 00:15:45 - Mentorship and Its Impact The conversation shifts to mentorship, with Dr. Lefkowitz sharing his thoughts on what makes a great mentor and the legacy of training successful scientists. 00:25:00 - Storytelling in Science Dr. Lefkowitz emphasizes the power of storytelling in presenting scientific data and making impactful discoveries. 00:30:20 - The Power of Saying No Dr. Lefkowitz provides practical advice on how to say no to distractions and focus on what truly matters. 00:35:50 - Creativity and Humor The discussion highlights the role of creativity and humor in scientific discovery and problem-solving. 00:45:00 - Closing Thoughts Melina and Dr. Lefkowitz wrap up the conversation, reflecting on the key takeaways and the importance of thoughtful mentorship. 00:50:30 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe Brainy Business on Youtube Connect with Dr. Lefkowitz:  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: What Your Employees Need and Can't Tell You, by Melina PalmerThe Ultimate Guide to Great Mentorship, by Scott MillerMentoring, by Dr. Ruth Gotian and Andy LopataA Funny Thing Happened on the Way to Stockholm, by Robert J. Lefkowitz M.D.The Speed of Trust, by Stephen M.R. Covey Top Recommended Next Episode: Ruth Gotian Interview (ep 419) Already Heard That One? Try These:  Vulnerability Loops (ep 229)Unity (ep 216)Scott Miller Interview (ep 69)Confirmation Bias (ep 260)Focusing Illusion (ep 330) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter
426. Defaults Uncovered: The Hidden Influences on Our Choices (Refreshed Episode)
09-09-2024
426. Defaults Uncovered: The Hidden Influences on Our Choices (Refreshed Episode)
In this episode of The Brainy Business podcast, Melina Palmer explores the concept of defaults, how they impact our decisions, and the critical role they play in business and everyday life.  Melina discusses the omnipresence of defaults and how they influence our choices, often without us even realizing it. She explains the concept of status quo bias and how it makes us more likely to stick with default options, even when they may not be in our best interest. Using examples from retirement savings to organ donation, Melina illustrates the power of defaults and the importance of thoughtful choice architecture in both personal and business contexts. In this episode: Understand the pervasive influence of defaults in everyday decisions.Learn about status quo bias and its impact on behavior.Explore practical examples of defaults in various contexts, including retirement savings and organ donation.Discover the ethical considerations in setting defaults and choice architecture.Gain insights into how to design better defaults to help customers and employees make beneficial choices. Show Notes: 00:00:00 - Introduction, Melina introduces the episode and the topic of defaults, highlighting its relevance to her upcoming conversation with Nobel laureate Dr. Bob Lefkowitz. 03:15 - The Omnipresence of Defaults Melina discusses how defaults are everywhere and influence nearly every decision we make, often without us realizing it. 08:30 - Status Quo Bias An exploration of status quo bias and how it makes us more likely to stick with default options, even when they may not be in our best interest. 15:45 - Retirement Savings Example Melina uses the example of retirement savings to illustrate the power of defaults and how different default options can significantly impact behavior. 22:00 - Organ Donation Study A discussion on the ethical considerations of defaults using the example of organ donation and how opt-in vs. opt-out policies affect donation rates. 29:15 - Practical Business Applications Melina provides practical advice on how businesses can use defaults to help customers and employees make better choices, emphasizing the importance of ethical considerations. 36:00 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe 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: A Funny Thing Happened on the Way to Stockholm, by Robert J. Lefkowitz M.D.What Your Customer Wants and Can't Tell You, by Melina PalmerNudge, by Richard Thaler & Cass SunsteinThinking Fast and Slow, by Daniel KahnemanWhat Your Employees Need and Can't Tell You, by Melina Palmer Top Recommended Next Episode: Status Quo Bias (ep 376) Already Heard That One? Try These:  Unlocking the Secrets of the Brain (ep 1)Framing (ep 296)Priming (ep 252)NUDGES and Choice Architecture: Introduction (ep 35)Habits (ep 256) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter
425. Decisions Over Decimals: Insights from Christopher Frank
04-09-2024
425. Decisions Over Decimals: Insights from Christopher Frank
In this episode of The Brainy Business podcast, Melina Palmer and Christopher Frank, Chief Client Officer at PSB Insights, dive into the art of decision-making in a data-driven world. Christopher, who has a rich background with industry giants like American Express and Microsoft, shares his expertise in leveraging consumer insights to gain a competitive edge. As a thought leader in critical thinking and decision science, he offers valuable perspectives on how to ask the right questions and interpret data for smarter business decisions. Christopher’s insights are not only theoretical but also practical, drawn from his extensive experience and his acclaimed books, Drinking from the Fire Hose and Decisions Over Decimals. He emphasizes the importance of starting with the right questions to truly understand the problem at hand and how to make decisions that are both informed and intuitive. His approach to synthesizing data with judgment offers a fresh perspective on navigating the overwhelming amount of information available today. In this episode: Uncover the power of asking the right questions to make better decisions.Learn how to leverage data and intuition to drive business strategy.Discover the importance of context in interpreting data points.Explore the concept of "quantitative intuition" and how it can be developed.Understand the role of culture in fostering an environment that thrives on data-driven decisions. Show Notes: 00:00:00 - Introduction Melina Palmer introduces Christopher Frank and highlights his extensive experience in data analytics and decision science. 00:04:12 - Christopher Frank's Background Christopher shares his journey through American Express, Microsoft, and his current role at PSB Insights, emphasizing his focus on leveraging data for smarter decisions. 00:09:35 - The Importance of Asking Questions Christopher discusses the value of starting with questions to understand the problem and make better decisions, sharing some of his favorite questions to ask. 00:16:28 - The Power of "What Surprised You?" Christopher explains how asking "What surprised you?" can unlock valuable insights and create a safe learning environment. 00:22:50 - Case Study: Outliers in Data Christopher shares a compelling story about how investigating outliers in customer satisfaction data led to significant business insights and strategic decisions. 00:30:17 - Moments of Truth in Consumer Behavior Christopher talks about identifying and understanding the critical moments that matter to consumers and how they can shape business strategies. 00:35:42 - Summary vs. Synthesis Christopher explains the difference between summarizing data and synthesizing it with judgment to make informed decisions. 00:40:05 - The Context Triangle Christopher introduces the concept of the context triangle and how it helps in interpreting data points from multiple perspectives. 00:41:05 - Conclusion, 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe Brainy Business on Youtube Connect with Christopher: Christopher on LinkedInChristopher on X  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: Decisions Over Decimals, by Christopher Frank, Paul Magnone and Oded NetzerMay Contain Lies, by Alex EdmansA More Beautiful Question, by Warren BergerWhat Your Customer Wants and Can't Tell You, by Melina PalmerDrinking from the Fire Hose, by Christopher Frank and Paul Magnone Top Recommended Next Episode: The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126) Already Heard That One? Try These:  Framing (ep 296)Felicity Heathcote-Marcz Interview (ep 324)Warren Berger Interview (ep 340)Alex Edmans Interview (ep 423)Beatrix Daros Interview (ep 424) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter
424. Mastering Project Scoping with Questions: Insights from Mars w/ Beatrix Daros (Refreshed Episode)
02-09-2024
424. Mastering Project Scoping with Questions: Insights from Mars w/ Beatrix Daros (Refreshed Episode)
In this episode of The Brainy Business podcast, Melina Palmer explores the power of questions in project scoping with Beatrix Daros. Originally aired in 2022, this episode revisits their collaborative work from 2019, focusing on leveraging behavioral economics to enhance project outcomes. Beatrix emphasizes the importance of balancing technology with deep human connections, a principle she applied while working on Mars' KIND brand. As you listen, consider how clearly Beatrix articulates their value proposition and approach, and think about how this clarity can be applied to your own business practices. Beatrix shares insights on the global differences in snacking habits and health perceptions, the role of ethnographic studies, and the significant impact of regulatory changes on product placement and marketing strategies. The episode also delves into the innovative use of virtual reality for consumer testing during the pandemic, highlighting how technology can expedite and enhance research processes. This episode is packed with valuable lessons on using behavioral science and technology to drive successful project outcomes. In this episode: Discover the impact of asking the right questions to scope projects effectively.Learn about the global differences in snacking habits and health perceptions.Explore the use of virtual reality and technology in consumer research.Understand the importance of balancing technology with deep human connections.Gain insights into navigating regulatory changes and their impact on marketing strategies. Show Notes: 00:00:00 - Introduction, Melina introduces the episode and guest, Beatrix Daros, highlighting their collaborative work on leveraging behavioral science for project scoping. 00:06:07 - Beatrix Daros' Background Beatrix shares her career journey at Mars and her role in consumer intelligence, focusing on the KIND brand. 00:10:40 - Global Snacking Habits Beatrix discusses the differences in snacking habits and health perceptions across various countries, emphasizing the importance of ethnographic studies. 00:15:34 - Regulatory Challenges Beatrix explains the impact of regulatory changes, such as the HFSS regulation in the UK, on product placement and marketing strategies. 00:20:21 - Behavioral Science and Questionstorming Melina and Beatrix discuss the importance of using behavioral science and questionstorming to scope projects effectively and align team members. 00:24:15 - Ethnographic Studies Beatrix elaborates on the role of ethnographic studies in understanding consumer behavior and preferences. 00:28:57 - Virtual Reality in Consumer Research Beatrix shares how Mars leveraged virtual reality for consumer testing during the pandemic, highlighting its efficiency and effectiveness. 00:31:48 - Technology and Human Connection Discussion on balancing the use of technology with maintaining deep human connections in consumer research. 00:35:51 - Deep Human Connection Beatrix elaborates on KIND's focus on deep human connections and how it influences their approach to consumer engagement and product development. 00:39:22 - Future of Insights Beatrix discusses the future of consumer insights, emphasizing the balance between technology and human connection. 00:47:30 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe Brainy Business on Youtube Connect with Beatrix: Beatrix on 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: A More Beautiful Question, by Warren BergerDecisions Over Decimals, by Christopher Frank, Paul Magnone and Oded NetzerWhat Your Customer Wants and Can’t Tell You (ep 147)Alchemy, by Rory SutherlandBoth/And Thinking, by Wendy Smith and Marianne Lewis Top Recommended Next Episode: Warren Berger Interview (ep 340) Already Heard That One? Try These:  Greta Harper Interview (ep 207)Sarah Wilson Interview (ep 206)Framing (ep 296)Questions or Answers? (ep 4)The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126) Other Important Links:  Brainy Bites - Melina’s LinkedIn NewsletterKIND Website
423. Unveiling the Biases Behind Misinformation w/ Alex Edmans
29-08-2024
423. Unveiling the Biases Behind Misinformation w/ Alex Edmans
In this episode of The Brainy Business podcast, Melina Palmer welcomes Alex Edmans, author of May Contain Lies, to discuss the fascinating intersection of finance, behavioral economics, and misinformation. Alex, a professor of finance at London Business School with a Ph.D. from MIT, delves into the impact of emotions on the stock market, using intriguing examples from his research, including the emotional effects of international sports results on stock market behavior.  Throughout the conversation, Alex and Melina explore the broader implications of emotional influences on decision-making in both personal finance and business contexts. They discuss the dangers of confirmation bias and black-and-white thinking, and Alex offers practical steps to overcome these biases. He also introduces his concept of the "ladder of misinference," illustrating how statements, facts, data, and evidence can be misinterpreted or misrepresented, leading to misleading conclusions. In this episode: Understanding the emotional impact of sports results on the stock market.The broader implications of emotional influences on decision-making.The dangers of confirmation bias and black-and-white thinking.Practical steps to overcome biases and make informed decisions.The "ladder of misinference" and avoiding missteps in interpreting data. Show Notes: 00:00:00 - Introduction Melina introduces Alex Edmans, author of May Contain Lies, and outlines the episode's focus on emotions, decision-making, and misinformation. 00:01:45 - Alex's Background Alex shares his background in finance and behavioral economics, emphasizing his passion for conveying academic insights to a general audience. 00:06:10 - Dissertation Research Alex discusses his dissertation on the impact of emotions, particularly sports results, on the stock market, highlighting the significant emotional effects on trading behavior. 00:12:55 - Broader Implications Melina and Alex explore the broader implications of emotional influences on decision-making in personal finance and business, emphasizing the importance of acknowledging and managing emotions. 00:19:15 - Confirmation Bias Alex explains confirmation bias and its impact on how people respond to evidence and data, using examples from sustainable investing and other fields. 00:26:30 - Black-and-White Thinking Alex introduces black-and-white thinking as a twin bias to confirmation bias, illustrating how extreme viewpoints can overshadow nuanced understanding. 00:34:45 - Ladder of Misinference Alex outlines the "ladder of misinference," explaining how statements, facts, data, and evidence can be misinterpreted, leading to misleading conclusions. 00:43:10 - Practical Tips for Individuals Alex offers practical tips for individuals to overcome biases, including imagining the opposite result to challenge confirmation bias. 00:46:00 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe Brainy Business on Youtube Connect with Alex: Alex on X Alex on LinkedIn  Alex’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: Foolproof, by Sander van der LindenMay Contain Lies, by Alex EdmansHow Minds Change, by David McRaneyDecisions Over Decimals, by Christopher Frank, Paul Magnone and Oded NetzerWhat Your Employees Need and Can't Tell You, by Melina Palmer Top Recommended Next Episode: Confirmation Bias (ep 260) Already Heard That One? Try These:  Sander van der Linden Interview (ep 337)Focusing Illusion (ep 330)Survivorship Bias (ep 400)Christian Madsbjerg Interview (ep 325)David McRaney Interview (ep 210) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter TED: What to Trust in a “Post Truth” WorldTEDx: The Pie Growing Mindset
422. The Lazy Brain: Unveiling Biases That Shape Our Decisions (Refreshed Episode)
26-08-2024
422. The Lazy Brain: Unveiling Biases That Shape Our Decisions (Refreshed Episode)
In this episode of The Brainy Business podcast, Melina Palmer explores the fascinating world of lazy brain biases. This episode is part of an eight-part series exploring various biases, focusing on how our brains prefer to take the path of least resistance. This rapid-fire episode provides a brief overview of each bias, helping you understand their roles, interactions, and impacts on decision-making. Melina refreshes this episode in anticipation of her upcoming interview with Alex Edmonds about his book May Contain Lies, which discusses misinformation and the importance of understanding information responsibly. Lazy brain biases play a significant role in how we process and accept information, making this episode a perfect primer for the conversation with Alex. In this episode: Discover how the default effect influences our choices.Learn about the decoy effect and its impact on decision-making.Understand the automation bias and its implications in a tech-driven world.Explore the law of the instrument and functional fixedness.Gain insights into framing, anchoring, and the contrast effect.Examine biases and their influence on decision-making.Identify how surrogation and Parkinson's Law of Triviality affect business decisions.Learn strategies to push your brain’s limits and overcome lazy tendencies. Show Notes: 00:00:00 - Introduction Melina introduces the episode and its focus on lazy brain biases, part of an eight-part series on biases. 00:02:30 - Default Effect Melina discusses the default effect, where people tend to choose the default option presented to them. 00:04:00 - Decoy Effect The decoy effect is explained with examples from espresso machines and The Economist subscription options. 00:06:00 - Automation Bias Melina talks about our excessive dependence on automated systems and the importance of checking their effectiveness. 00:07:30 - Law of the Instrument and Functional Fixedness These biases are discussed with examples like the Apollo 13 mission. 00:09:00 - Framing and Anchoring Melina explains how framing and anchoring influence our decisions, with links to related episodes. 00:10:30 - Contrast Effect The impact of priming and previously presented information on decision-making is discussed. 00:12:00 - Biases Melina explains how our senses influence our external decisions, using judges' sentencing patterns as an example. 00:13:30 - Ambiguity Effect and Action Bias These biases are explored with examples from medical decisions and soccer goalies. 00:15:00 - Stereotyping and Illicit Transference Melina discusses how our brains make assumptions about groups and individuals. 00:16:30 - Surrogation The concept of surrogation is explained with an example of customer satisfaction surveys. 00:18:00 - Parkinson's Law of Triviality Also known as bikeshedding, this bias is discussed with examples from pricing strategies. 00:19:30 - Lag Effect and Levels of Processing Melina talks about effective learning strategies and how to trick your lazy brain into focusing. 00:21:00 - List Length Effect The impact of list length on memory is discussed, encouraging listeners to push their brain's limits. 00:22:30 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe 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: May Contain Lies, by Alex EdmansThinking Fast and Slow, by Daniel KahnemanNudge, by Richard Thaler & Cass SunsteinWhat Your Customer Wants and Can't Tell You, by Melina PalmerEvolutionary Ideas, by Sam Tatam Top Recommended Next Episode: Functional Fixedness (ep 194) Already Heard That One? Try These:  Anchoring & Adjustment (ep 394)Bikeshedding (ep 99)Priming (ep 252)Color Theory (ep 61)5 Things Your Business Must Learn From NASA (ep 57) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter The Greatest Space Hack Ever This Is the Actual Hack That Saved the Astronauts of the Apollo XIIIApollo Expeditions to the Moon – A Square Peg in a Round Hole Action Bias Among Elite Soccer Goalkeepers: the Case of Penalty KicksAction Bias and Environmental DecisionsThe Inaction Effect in the Psychology of Regret
421. Behavioral Science and Democracy w/ Beatriz Vallejo
22-08-2024
421. Behavioral Science and Democracy w/ Beatriz Vallejo
In this episode of The Brainy Business podcast, Melina Palmer is joined by Beatriz Vallejo, CEO of Ethos BT, to discuss the impactful work of reducing misinformation and polarization in Colombia using behavioral science. Beatriz, a behavioral scientist and economist, shares her journey from studying economics in Colombia to completing a master's in behavioral change at UCL, focusing on the factors that lead to the belief and spread of fake news. The conversation visits her extensive research on misinformation, the psychological factors influencing it, and the innovative Detox Information Project aimed at mitigating these issues. Beatriz highlights the importance of understanding psychological factors like dehumanization, distrust, discrimination, and low tolerance to ambiguity, which contribute to the spread of misinformation. The episode also explores the success of various interventions, including personality tests and social experiment videos, which have proven to reduce misinformation vulnerability by 30%. This episode is a treasure trove of insights for anyone interested in behavioral science, misinformation, and societal improvement, showcasing the significant impact of behavioral interventions in real-world settings. In this episode: Discover the psychological factors contributing to misinformation and polarization in Colombia.Learn about the Detox Information Project and its innovative approach to reducing fake news.Understand the importance of research and data in designing effective behavioral interventions.Gain insights into the challenges and successes of applying behavioral science in diverse contexts.Get inspired by Beatriz Vallejo's journey and her impactful work in behavioral science. Show Notes: 00:00:00 - Introduction Melina introduces Beatriz Vallejo, CEO of Ethos BT, and highlights her work in behavioral science and misinformation. 00:05:20 - Beatriz's Background Beatriz shares her academic journey from studying economics in Colombia to completing a master's in behavioral change at UCL. 00:10:45 - Initial Research on Fake News Beatriz discusses her master's thesis on the psychological factors related to believing and sharing fake news in Colombia. 00:15:30 - The Detox Information Project Beatriz introduces the Detox Information Project, aimed at reducing misinformation through behavioral science interventions. 00:20:15 - Key Psychological Factors Beatriz explains the four psychological factors—dehumanization, distrust, discrimination, and low tolerance to ambiguity—that contribute to misinformation vulnerability. 00:25:50 - Effective Interventions Beatriz discusses the success of personality tests and social experiment videos in reducing misinformation vulnerability by 30%. 00:30:35 - Challenges in Behavioral Science Beatriz shares the challenges of convincing stakeholders to invest in research and the importance of understanding the problem before designing solutions. 00:35:50 - Tips for Aspiring Behavioral Scientists Beatriz offers advice for those looking to make an impact in behavioral science, emphasizing the importance of networking and continuous learning. 00:40:25 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe Brainy Business on Youtube Connect with Beatriz: Beatriz on LinkedInDetox Information ProjectBeatriz on X  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: Foolproof, by Sander van der LindenMay Contain Lies, by Alex EdmansThe Voltage Effect, by John ListDecisions Over Decimals, by Christopher Frank, Paul Magnone and Oded NetzerWhat Your Employees Need and Can't Tell You, by Melina Palmer Top Recommended Next Episode: Carlos Hoyos Interview (ep 285) Already Heard That One? Try These:  Sander van der Linden Interview (ep 337)BE OEFA Interview (ep 195)Ambiguity / Uncertainty Aversion (ep 243)Confirmation Bias (ep 260)The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter
419. The Mentorship Mindset: Insights from Dr. Ruth Gotian
15-08-2024
419. The Mentorship Mindset: Insights from Dr. Ruth Gotian
In episode 419 of The Brainy Business podcast, Dr. Ruth Gotian, co-author of the Financial Times Guide to Mentoring, shares her extensive expertise on mentorship and leadership development with host Melina Palmer. Ruth, who serves as the Chief Learning Officer and Associate Professor of Education in Anesthesiology at Weill Cornell Medicine, is a globally recognized expert in mentorship, hailed by institutions like Nature, Wall Street Journal, and Columbia University. She discusses the vital role of mentorship in achieving success and the importance of having a team of mentors to guide and support high achievers. Throughout the conversation, Ruth delves into the four elements of success from her book, The Success Factor, and emphasizes the significance of intrinsic motivation, overcoming challenges, continuous learning, and the power of mentorship. She also provides practical insights into the differences between mentors, coaches, role models, and sponsors, and how each plays a unique role in personal and professional development. This episode is packed with valuable takeaways for anyone looking to enhance their success through effective mentorship and leadership strategies. In this episode: Understand the four key elements of success for high achievers.Differentiate between mentors, coaches, role models, and sponsors.Learn how to effectively seek and engage with mentors.Implement successful mentorship programs within organizations.Recognize the benefits of both being a mentor and having a mentor. Show Notes: 00:00:00 - Introduction Melina Palmer introduces Dr. Ruth Gotian and sets the stage for an insightful conversation on mentorship and leadership development. 00:01:30 - Ruth's Background Ruth shares her background and journey, including her roles at Weill Cornell Medicine and her recognition as a top mentor and emerging management thinker. 00:04:20 - The Success Factor Ruth discusses the four elements of success found in high achievers: intrinsic motivation, overcoming challenges, continuous learning, and mentorship. 00:10:15 - Mentorship and Its Importance The conversation explores the critical role of mentorship in achieving success and how high achievers leverage mentors to guide and support them. 00:14:45 - Differentiating Mentorship Roles Ruth explains the differences between mentors, coaches, role models, and sponsors, and the unique contributions each makes to personal and professional growth. 00:19:30 - Effective Mentorship Strategies Practical advice on how to seek out mentors, engage with them effectively, and the importance of being specific and time-bound in mentorship requests. 00:24:00 - Organizational Mentorship Programs Tips for implementing successful mentorship programs within organizations, including the benefits of group mentoring and creating opportunities for organic mentor-mentee matches. 00:30:10 - Reverse Mentoring and Continuous Learning The concept of reverse mentoring and how both mentors and mentees can learn from each other, fostering a culture of continuous learning and development. 00:35:20 - The Value of Networking and Building Relationships Ruth shares insights on the importance of networking, asking good questions, and building meaningful relationships through thoughtful engagement. 00:40:05 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe Brainy Business on Youtube Connect with Ruth: Ruth on LinkedIn Ruth on X 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 MillerThe Success Factor, by Ruth GotianMentoring, by Dr. Ruth Gotian and Andy LopataWhat Your Employees Need and Can't Tell You, by Melina PalmerLet’s Talk, by Therese Huston Top Recommended Next Episode: Scott Miller Interview (ep 307) Already Heard That One? Try These:  Kurt Nelson Interview (ep 187)Reciprocity (ep 238)Adjusting Your Mindset — Overcome Imposter Syndrome (ep 306)Scott Miller Interview (ep 307)Survivorship Bias (ep 400) Other Important Links:  Brainy Bites - Melina’s LinkedIn NewsletterConversations with Ruth Gotian
418. The Hidden Forces Shaping Your Decisions: Personal Biases Explained (Refreshed Episode)
12-08-2024
418. The Hidden Forces Shaping Your Decisions: Personal Biases Explained (Refreshed Episode)
In this episode of The Brainy Business podcast, Melina Palmer dives into the fascinating world of personal biases, exploring how our brains are wired to perceive ourselves and the world around us. This episode, originally aired in April 2019, provides a rapid-fire overview of various biases that impact our personal and professional lives. Melina discusses optimism bias, planning fallacy, naive realism, false consensus effect, and more, offering insights into how these biases shape our decisions and interactions. Through practical examples and relatable anecdotes, Melina helps listeners understand the complexities of their own biases and how to leverage this knowledge for better decision-making and improved interactions with others. Listeners will gain valuable insights into the importance of recognizing and addressing personal biases, and how doing so can lead to greater success in both personal and professional contexts. This episode serves as a comprehensive guide to understanding the hidden forces that influence our thoughts and actions, making it a must-listen for anyone looking to enhance their self-awareness and communication skills. In this episode: Identify and understand various personal biases and their impact on decision-making and interactions.Leverage knowledge of biases like optimism bias and planning fallacy to set realistic goals and expectations.Improve communication and collaboration by recognizing and addressing biases such as naive realism and false consensus effect.Utilize insights from biases to enhance marketing strategies and customer interactions.Foster better relationships and teamwork by acknowledging and mitigating the influence of biases like egocentric bias and social comparison bias. Show Notes: 00:00:00 - Introduction Melina introduces the topic of personal biases and sets the stage for a deep dive into how these biases affect our lives and careers. 00:02:00 - Optimism Bias Discussion on optimism bias and how it leads people to believe they are more likely to experience positive outcomes than others. 00:04:00 - Planning Fallacy Exploration of planning fallacy, the tendency to underestimate how long tasks will take, and its implications in personal and professional settings. 00:06:00 - Naive Realism Melina explains naive realism, the belief that we see the world objectively while others are biased, and its impact on communication and collaboration. 00:08:00 - False Consensus Effect Examination of the false consensus effect, where people overestimate how much others agree with them, and strategies to overcome it. 00:10:00 - Illusion of Asymmetric Insight Discussion on the illusion of asymmetric insight, where individuals believe they understand others better than others understand them. 00:12:00 - Illusion of Transparency Melina explores the illusion of transparency, where people overestimate how well they understand others and are understood in return. 00:14:00 - False Uniqueness Bias Analysis of false uniqueness bias, where individuals believe their experiences and problems are unique compared to others. 00:16:00 - Forer Effect Introduction to the Forer effect, also known as the Barnum effect, where people believe vague, general statements are highly accurate for them. 00:18:00 - Illusion of Control Discussion on the illusion of control, the tendency to overestimate one's influence over external events, and its impact on behavior and decision-making. 00:20:00 - Egocentric Bias Exploration of egocentric bias, where individuals believe they do more work than others, and strategies for overcoming it. 00:22:00 - Social Comparison Bias Examination of social comparison bias, where individuals favor candidates who are not in direct competition with their own strengths. 00:24:00 - Spotlight Effect Discussion on the spotlight effect, where people overestimate how much others notice their appearance or behavior. 00:26:00 - Overconfidence Effect Melina explains the overconfidence effect, where people are more certain in their answers than they should be, and its implications in business. 00:28:00 - Pro Innovation Bias Analysis of pro innovation bias, where individuals have excessive optimism about their innovations or products. 00:30:00 - Hindsight Bias and Post Purchase Rationalization Discussion on hindsight bias and post-purchase rationalization, where individuals justify their decisions after the fact. 00:32:00 - Choice Supportive Bias and Illusion of External Agency Examination of choice supportive bias and illusion of external agency, where people believe their choices were more informed than they were. 00:34:00 - Illusion of Validity and Conservatism Belief Revision Melina explores the illusion of validity and conservatism belief revision, where individuals stick to their beliefs despite new evidence. 00:36:00 - Continued Influence Effect Discussion on the continued influence effect, where people continue to believe misinformation even after it has been corrected. 00:38:00 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe 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: Happier Hour, by Cassie HolmesYou Have More Influence Than You Think, by Vanessa BohnsWhat Your Employees Need and Can't Tell You (ep 225)Mentoring, by Dr. Ruth Gotian and Andy LopataThe Success Factor, by Ruth Gotian Top Recommended Next Episode: Planning Fallacy (ep 346) Already Heard That One? Try These:  Optimism Bias (ep 34)What Your Employees Need and Can't Tell You (ep 225)Biases Toward Others (Including Groups) (ep 314)Vanessa Bohns Interview (ep 318)Hindsight Bias (ep 396) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter Exploring the “Planning Fallacy”: Why People Underestimate Their Task Completion Times Five Most Daunting NFL Stadiums for Visiting TeamsScarlett Johansson & Brie Larson Play ‘Who Saves the World? Girls!’ The Trouble With Overconfidence
417. The Art of Respectful Disagreement w/ Justin Jones-Fosu
08-08-2024
417. The Art of Respectful Disagreement w/ Justin Jones-Fosu
In episode 417 of The Brainy Business podcast, Melina Palmer interviews Justin Jones-Fosu, author of I Respectfully Disagree. Justin, the CEO of Work Meaningful, is a dynamic speaker and thought leader on topics of meaningful work and inclusion, delivering over 50 keynote addresses annually. His latest book delves into navigating difficult conversations in a divided world, a theme central to today’s discussion. Throughout the episode, Justin shares his insights on creating meaningful work environments and the importance of respectful disagreement. He emphasizes the significance of individuals finding meaning in their work, rather than relying solely on organizational missions. Justin introduces the 3 Rhythm Model, focusing on perspective, tasks, and relationships as key ways to bring meaning to work. He also addresses the concept of respectful disagreement, encouraging healthy conflict and curiosity within teams to foster better outcomes and innovation. In this episode: Discover the 3 Rhythm Model to bring meaning to your work.Learn how to create a culture of respectful disagreement in the workplace.Understand the importance of modeling and rewarding healthy conflict.Explore practical tips for challenging your perspective and engaging with diverse viewpoints.Gain insights into cognitive reframing and the value of hearing real stories. Show Notes: 00:00:00 - Introduction Melina introduces Justin Jones-Fosu and his work on meaningful work and respectful disagreement. 00:02:15 - Justin's Background Justin shares his journey, including his role as CEO of Work Meaningful and his latest book, I Respectfully Disagree. 00:06:30 - Meaningful Work Defined Justin explains the concept of meaningful work and the 3 Rhythm Model: perspective, tasks, and relationships. 00:12:45 - Individual vs. Organizational Meaning The focus shifts to how individuals can find meaning in their work, regardless of the organization's mission. 00:16:20 - The Greenhouse Effect Justin discusses the role of leaders in creating environments that foster meaningful work and engagement. 00:21:00 - Respectful Disagreement Transitioning to the topic of respectful disagreement, Justin explains the benefits of healthy conflict and curiosity in teams. 00:25:10 - Practical Tips for Leaders Justin provides actionable advice for leaders on modeling, rewarding, and seeking out disagreement. 00:27:00 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe Brainy Business on Youtube Connect with Justin: Justin’s WebsiteHow to Respectfully DisagreeJustin on 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: I Respectfully Disagree, by Justin Jones-FosuFinding Confidence in Conflict, by Kwame ChristianLet’s Talk, by Therese HustonPowerful Phrases for Dealing with Workplace Conflict, by Karin Hurt and David DyeWhat Your Employees Need and Can't Tell You, by Melina Palmer Top Recommended Next Episode: Kwame Christian Interview (ep 221) Already Heard That One? Try These:  Focusing Illusion (ep 89)Confirmation Bias (ep 260)Framing (ep 296)Therese Huston Interview (ep 381)Karin Hurt Interview (ep 393) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter
416. Mastering Motivation: Behavioral Economics Insights (Refreshed Episode)
05-08-2024
416. Mastering Motivation: Behavioral Economics Insights (Refreshed Episode)
In this episode of The Brainy Business podcast, Melina Palmer dives into the intricacies of motivation, exploring how our brains can both get and stay motivated. This episode is designed  to help you understand the psychological underpinnings of motivation, including the impact of behavioral economics concepts like loss aversion, habits, and framing. Whether you're aiming for personal development or looking to integrate these insights into your business strategies, this episode has you covered. Melina shares personal stories, including her journey with running, to illustrate the principles of intrinsic and extrinsic motivation. She also evaluates popular fitness apps like Couch to 5K and Runkeeper, discussing their effectiveness in motivating users and suggesting improvements based on behavioral science. The episode is rounded out with actionable tips for hacking your own motivation, making it a must-listen for anyone eager to achieve their goals. In this episode: Learn the difference between intrinsic and extrinsic motivation and how to leverage both.Discover the role of behavioral economics in motivation, including concepts like loss aversion and framing.Get insights into popular fitness apps and how they can either encourage or discourage motivation.Gain actionable tips for setting and achieving your goals by understanding your brain's rules around mindset.Explore practical examples of how to flip the script on your motivation blocks. Show Notes: 00:00:00 - Introduction Melina introduces the episode's focus on motivation and its psychological aspects. 00:02:00 - Personal Journey Melina shares her personal story about running and how it ties into motivation. 00:06:00 - The Science of Motivation An overview of the scientific principles that drive motivation. 00:14:00 - Types of Motivation Discussion on intrinsic and extrinsic motivation, with examples from Melina's life. 00:20:00 - Case Studies Real-world examples of motivation in different contexts. 00:25:00 - Behavioral Economics Concepts Exploration of loss aversion, habits, and framing in the context of motivation. 00:32:00 - Evaluating Fitness Apps Melina evaluates Couch to 5K and Runkeeper, discussing their motivational strategies and suggesting improvements. 00:40:00 - Practical Tips Actionable tips for hacking your own motivation, including setting and limiting goals. 00:43:00 - Conclusion 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe 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: Work Well, Play More, by Marcey RaderMixed Signals, by Uri GneezyWhat Your Employees Need and Can't Tell You, by Melina PalmerGood Habits, Bad Habits, by Wendy WoodI Respectfully Disagree, by Justin Jones-Fosu Top Recommended Next Episode: iNcentives (ep 272) Already Heard That One? Try These:  Wendy Wood Interview (ep 127)Katy Milkman Interview (ep 151)Cobra Effect (ep 220)Uri Gneezy Interview (ep 273)Marcey Rader Interview (ep 323) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter
415. Behavioral Finance and Wealth Confidence w/ Anthony Damtsis of TD Wealth
01-08-2024
415. Behavioral Finance and Wealth Confidence w/ Anthony Damtsis of TD Wealth
In episode 415 of The Brainy Business podcast, host Melina Palmer welcomes Anthony Damtsis, Deputy Head of Behavioral Finance at TD Wealth. Anthony shares his fascinating journey from leading the behavioral science practice at Discover Card in Chicago to his current role at TD Wealth, where he develops tools to help advisors integrate behavioral finance principles into their practice. The episode delves into his background, the importance of word choice in financial planning, and the intriguing concept of "wealth confidence." Throughout the conversation, Anthony discusses how subjective feelings of wealth can differ significantly from objective measures, revealing that having more money doesn't always equate to feeling wealthier. He introduces the concept of wealth confidence, which includes intertemporal, social, and purpose and pleasure components, and explains how giving to charity can enhance one's sense of wealth. Anthony also shares insights from a research project that tested different value propositions for financial plans, leading to a significant increase in plan creation rates. The episode is a treasure trove of insights for anyone interested in behavioral finance, the psychology of wealth, and the power of language in financial planning. In this episode, you will learn: The concept of wealth confidence and its impact on financial well-being.How subjective feelings of wealth can differ from objective financial measures.The importance of word choice in financial planning and how it affects client engagement.The role of charitable giving in enhancing one's sense of wealth.Practical strategies for financial advisors to communicate the value of financial plans. Show Notes: 00:00:00 - Introduction Melina introduces Anthony Damtsis, Deputy Head of Behavioral Finance at TD Wealth, and sets the stage for a conversation about behavioral finance and wealth confidence. 00:02:30 - Anthony's Background and Journey Anthony shares his journey from Discover Card to TD Wealth and his passion for behavioral science and economics. 00:05:51 - Concept of Wealth Confidence Anthony introduces the concept of wealth confidence, explaining its components and how it differs from traditional measures of wealth. 00:09:00 - Subjective vs. Objective Wealth Anthony and Melina discuss how subjective feelings of wealth can differ from objective financial measures and the role of social comparisons. 00:13:38 - Impact of Charitable Giving Anthony explains how charitable giving can enhance one's sense of wealth and the psychological mechanisms behind it. 00:17:54 - Research on Financial Plans Anthony shares insights from a research project that tested different value propositions for financial plans, leading to a significant increase in plan creation rates. 00:21:31 - Importance of Word Choice Discussion on the importance of word choice in financial planning and how it affects client engagement. 00:24:54 - Practical Strategies for Advisors Anthony provides practical strategies for financial advisors to communicate the value of financial plans effectively. 00:28:36 - Wording Matters Anthony and Melina discuss the nuances around words used to describe feeling wealthy. 00:34:27 - The Importance of Financial Plans Anthony describes the outcomes of his research and applications for financial advisors. 00:37:12 - Conclusion 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 LinkedI​​n. 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe Brainy Business on Youtube Connect with Anthony: Anthony on LinkedInAnthony on X  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 MazarBehavioral Investor, by Daniel CrosbyDollars and Sense, by Dan Ariely and Jeff KreislerInfluence, by Robert CialdiniDesigning for Behavior Change, by Stephen Wendel Top Recommended Next Episode: Chuck Howard Interview (ep 213) Already Heard That One? Try These:  Reciprocity (ep 238)Luke Freeman Interview (ep 239)Dilip Soman Interview (ep 241)Jeff Kreisler Interview (ep 397)Melaina Vinski Interview (ep 413) Other Important Links:  Brainy Bites - Melina’s LinkedIn NewsletterLondon School of Economics BEAR @ RotmanThe Diderot Effect
414. Structuring Complex Choices: The "S" in NUDGES Explained (Refreshed Episode)
29-07-2024
414. Structuring Complex Choices: The "S" in NUDGES Explained (Refreshed Episode)
In episode 414 of The Brainy Business podcast, host Melina Palmer delves into the intricacies of structuring complex choices, the "S" in NUDGES. This episode revisits the crucial topic of choice architecture, emphasizing how businesses can simplify decision-making processes for their customers. By understanding and effectively managing complex choices, businesses can significantly enhance customer experience and satisfaction. This episode is packed with practical tips and examples to help businesses reduce complexity and improve customer decision-making processes. Melina encourages listeners to think creatively about their business challenges and consider how successful companies might approach similar problems. In this episode: Understand the concept of mapping and its importance in choice architecture.Learn the five steps to effectively structure complex choices.Discover strategies to simplify decision-making for customers.Explore examples from leading companies that excel in managing complex choices.Gain insights on how to apply these strategies to your own business. Show Notes: 00:00:00 - Introduction Melina introduces the episode's focus on structuring complex choices as part of the NUDGES series. 00:01:45 - Revisiting Mapping Melina explains the concept of mapping and its relevance to complex choices, using examples like choosing ice cream flavors and medical treatments. 00:05:30 - The Five Steps to Understanding Mapping Melina outlines the five essential steps to understanding and implementing mapping in choice architecture. 00:08:20 - Simplifying Complex Choices Melina discusses the importance of eliminating unnecessary options and provides examples of how businesses can simplify complex choices for customers. 00:15:00 - Examples from Leading Companies Melina explores how companies like Amazon, Google, Expedia, Zillow, Netflix, and others effectively manage complex choices through categorization and filtering. 00:25:00 - Practical Application for Your Business Melina encourages listeners to think creatively about their own business challenges and consider how successful companies might approach similar problems. 00:35:00 -  Conclusion, 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.comThe Brainy Business® on FacebookThe Brainy Business on TwitterThe Brainy Business on InstagramThe Brainy Business on LinkedInMelina on LinkedInThe 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: Nudge, by Richard Thaler & Cass SunsteinSludge, by Cass SunsteinElements of Choice, by Eric JohnsonWhat Your Customer Wants and Can't Tell You, by Melina PalmerThe Truth About Pricing, by Melina Palmer Top Recommended Next Episode: Understanding Mapping (ep 294) Already Heard That One? Try These:  NUDGES and Choice Architecture: Introduction (ep 35)Defaults: The D in NUDGES (ep 38)The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126)Eric Johnson Interview (ep 174)Cass Sunstein Interview (ep 371) Other Important Links:  Brainy Bites - Melina’s LinkedIn NewsletterChoice ArchitectureElimination by Aspects: A Theory of ChoiceThe Knotted WoodCoca-Cola Freestyle