Hello everyone! In this post, I wanted to give you a sneak preview of my new book that is due out a little later this year.
What follows is the Introduction section. I hope you enjoy it and will be eager to see more. I also welcome your comments and feedback – let me know what you think!
The process of decision-making goes something like this:
It starts with a spark– a person wants something.
Up next is the debate that happens every time (whether consciously or subconsciously.) But it does indeed happen EVERY TIME.
Then there’s data collection. This is the information-gathering stage. (You may be thinking that the data collection happens before the debate stage. Incorrect. Keep reading to understand why.)
Now comes debate #2 – the Great Debate. The first debate was your brain’s way of deciding whether or not to enter into the data collection stage. Compared to the Great Debate, this first one is almost inconsequential. Very few decisions are stopped cold in their tracks during the first debate. But this one, the Great Debate, is the critical juncture. It is the crossroads of the decision-making process. And it has several stages that go something like this:
Need vs. Want – The classic scenario that we’ve all heard so much about.
Now or Later – This could also be considered the “is it the right time” part of the Great Debate. Throughout human history, fortunes have been won and lost at this stage.
Why this product, service, or action? Are there alternatives? This is the height of the bargaining phase – when decision-makers look for the same kind of product, service, or action that may be cheaper. Or they look for shortcuts to achieve the desired results. During this phase, the old saying, “you get what you pay for” is sometimes ignored or is otherwise lost to oblivion. DISCLAIMER: It should not be inferred that the most expensive option is the best or the least expensive option is the worst. However, there have been and will continue to be instances where both consumers and businesses realize that there is some truth to “you get what you pay for.”
Is this a priority? This is a critical phase. Prioritizing needs, goals, and desires leads to better decision-making. If something isn’t identified as a priority, then any decision-making with regard to the non-priority item should be put aside to allow the priority items or projects to assume……well….priority.
Finally, the decision-maker comes to the final and most important question of them all. This is the question that your brain REQUIRES you to answer before all of the wiring (and whatever else goes on up there) will allow you to make a decision to buy, sell, do, invest, create, destroy, build, write, say, sign, hire, fire, ………the list goes on and on….and on.
For the consumer, it is the most important determinant as to whether he or she will buy anything. For the business owner, it’s what will ultimately lead to a decision regarding whether or not to do business with a vendor or service provider. Foe everyone, it is the very nature and basis of every single decision that we have ever made or will make in the future. The question that must be answered is simple enough in its wording but stunningly profound in its effect on human events ranging from the mundane and routine to the life-changing and significant.
That question is: What’s In It For Me? Or, WIIFM. for short. The acronym WIIFM will be used copiously throughout this book so remember what it means!
In the following chapters, we will explore how WIIFIM affects everything that we do. We’ll look at how a thorough understanding of WIIFM greatly benefits business owners that are trying to attract more business, service providers that are in the market for new clients, entrepreneurs that boldly go where they’ve never gone before, leaders that manage employees who are responsible for executing on action plans and reaching goals, and employees that want to further their careers and lives through professional and personal development.
By the end of this book, you’ll have a better understanding of WIIFM, its psychological underpinnings, and its role in your life, your business, and your career. You’ll be more equipped to understand how you and other people come to the decisions that are ultimately made – decisions which alter the course of both the present and the future for better or for worse.