Dissecting Decision-Making Process through Science with John Petrocelli
Do you know the consequences of relying on your personal experience rather than evidence? Most people tend to make their decisions just based on their personal experience which can create negative outcomes. You can change this by primarily relying on evidence to make decisions. Tune in Dominate Your Market Podcast as John Petrocelli share how healthy skepticism helps us base our decisions on evidence. Notice how this method guides you to make the best decisions and gain back the trust of your team members as a leader.
Fake news and information are rampant in today’s society. And someone can use it to deceive and take advantage of us. Meanwhile, others rely on their own personal experience to make decisions that can produce flawed outcomes. Discover how making decisions based on data, evidence, and research keep us away from bullshits of our world.
John Petrocelli, experimental social psychologist and professor at Wake Forest University knows the negative outcomes of relying on our self-experiences and being exposed to bullshits. It’s time to adopt a new perspective and make the best choices possible in light of the available evidence.
- “Most of the internal talks come from personal and professional experiences. And relying on those as if we are prisoners of the confines of our own experience is often a very messy way to collect data.”
- “It’s difficult to argue against one’s personal and professional experiences. But once they open their minds to other information, they tend to make much more informed decisions.”
- “Even the people most confident in their ability to detect bullshit are often the most susceptible to it.”
- “If you don’t have enough time to do it right, you won’t have enough time to do it over again. “
- “Every day is another opportunity to use better information to make better decisions. Better information does not guarantee better judgment decision-making. But better judgment decision-making almost always requires better information. “
- A healthy sense of skepticism is just accepting the fact that a lot of the information we receive from multiple sources every day may not be correct.
- Engaging in evidence-based reasoning, decision-making, and communication takes time.
- You do need to know your customer, And you need to target the most valuable among them and try to build their loyalty around your brand.
- When someone bullshit us, they are communicating something with no regard or very little regard for truth, established knowledge, or genuine evidence. On the other hand, when someone is
- lying to us, they know it, and they care about the truth. However, both of them are deceptive.
- Investing heavily in evidence based leadership, reasoning, communication, and decision-making helps leaders to gain the trust of their team members.
1:23 – Self-Talk and Mindset
11:03 – Making Quick Decisions
19:37 – Bullshitting vs. Lying
29:05 – Problem in Society
34:06 – Advice for CEOs to Gain the Trust of their People
37:40 – CEO of Ford Motor Company
41:34 – Get in touch with John
John Petrocelli’s Website: https://www.johnvpetrospeaks.com/
Wake Forest University: https://www.wfu.edu/