The world is finally awakening!
Ever wonder how CEOs and other business leaders make decisions? It’s not all based on logic, despite what you may think. In fact, a lot of it has to do with the way our brains are wired.
Let’s create a scenario to put this in perspective. The world has been effectively shut down for a couple of years after governments worldwide have massively overreacted to a situation. The world is finally awakening, and it’s obvious that we all need to be more adaptable in how we do things because rapid change has become a permanent reality of life on Earth!
After a couple of years of inactivity, there’s quite a lot of new equipment on the market, and you decide to pop over for LabelExpo to check out the latest and greatest. After walking the halls and talking to everyone, you’ve set your sights on the new HP Indigo V12, delivering 120 linear metres per minute with 1600dpi image resolution!
You’ll need to light up all three regions of your brainstem!
To get that goal to the next stage, you’ll need to light up all three regions of your brainstem, with the hind-brain, mid-brain, and fore-brain all playing a role in your decision-making process.
The hind-brain, or reptilian complex, is responsible for our basic instincts, such as fight-or-flight. This part of the brain is often associated with risk aversion because it helps us to avoid dangerous situations. In business, the reptilian brain might lead us to play it safe and avoid risks that could lead to loss.
The mid-brain, or limbic system, is associated with emotion, which is the part of the brain that gives us feelings of pleasure and happiness. The mid-brain is often influencing our decision-making without us even realising it. When you make a purchase simply because it makes you feel good, that’s your limbic system at work! In business, the limbic system can be a powerful tool for marketing products and services. If we can tap into positive emotions like happiness and pleasure, we’re more likely to get people to buy what we’re selling. But for significant purchasing decisions, acting on feelings and emotions alone can be disastrous.
The neo-cortex is often used for strategic planning!
The fore-brain, or neo-cortex, is responsible for higher-level thinking, such as language and abstract thought. This brain part helps us see the bigger picture and make long-term plans. In business, the neo-cortex is often used for strategic planning and deciding where to allocate resources. However, because this part of the brain is so analytical, it can sometimes lead us to overthink things or get bogged down in the details.
Knowing how the brain works can help you plan a strategy to cover all bases. And one of the best ways to get a project underway is to start with a SMART goal. SMART is an acronym for Specific, Measurable, Achievable, Relevant, and Time-bound.
In the case of equipment purchase, your plan would be based on the specific purpose of buying the press. It would have measurable benchmarks such as ROI, increased throughput, reduced overtime, etc., and it would be achievable in your financial position and relevant to your business operations. Lastly, it would have to take place in a reasonable timeline.
Asking yourself a question posed in four different ways!
For the next step, a form of Cartesian Logic is an excellent way to work through the situation. This method utilises 4 lenses rather than one to view the problem. And you achieve this by asking yourself a question posed in four different ways!
What will happen if I get the HP Indigo V12?
I’ll be able to produce more high-quality work in less time.
What won’t happen if I get the HP Indigo V12?
I won’t miss deadlines or worry about the quality of my work.
What will happen if I don’t get the HP Indigo V12?
I’ll continue to be stressed and miss the opportunity to win higher-value jobs.
What won’t happen if I don’t get the HP Indigo V12?
My business won’t grow, and I’ll stay in the same position I’m in now, under-resourced and working hard to keep up.
Are you playing it safe or taking risks?
Using a SMART framework and Cartesian Logic will remove the fear from the reptilian brain because it no longer seems so risky. The limbic system still influences our decision-making, but we are fully aware of it and have planned our decision on more than just emotion. And finally, the neo-cortex has the details it needs without being bogged down.
So, the next time you’re faced with a business decision, take a moment to consider which part of your brain is driving that decision. Is it based on logic or emotion? Are you playing it safe or taking risks? Remember, decision-making varies depending on what’s best for your situation. But by understanding how your brain works, you can make more informed choices that will help you achieve your desired results.
This article appeared in New Zealand Printer in November 2022