Orangeville, ON (James Doan) I came across a recent study by the think tank Populace. They found a majority of those polled said they value relationships, fulfilment and character more than money. Yet they also said that a majority of their fellow citizens feel otherwise, valuing status above all else. That misperception has serious consequences, including misguided career choices.
This got me thinking. How far do mistaken ideas about what most people believe affect our business decisions?
Often entrepreneurs make assumptions about what people would or wouldn’t do. They then dismiss marketing, pricing or operational strategies out of hand.
In marketing studies, I run across things tried in tests that shouldn’t have worked but did. For example, changing the name of a product or how you explain what it does can boost sales many times. An old, messy website can perform better than a shiny new redesign. Reality doesn’t always conform to our beliefs.
If you hear yourself or a colleague scoff that something wouldn’t work, stop. Consider testing instead of assuming!