#1240² ENTREPRENEURSHIP & BUSINESS² – S6 E7 – UNDERSTAND PEOPLE

In this ever changing environment out there which has picked up the pace quite recently, decisions are no longer made on a rational basis. Decisions are made out of emotions, fear and uncertainty.

It’s not the first crisis, it’s not going to be the last. But what does it matter when everything is on the line? Over reacting is the most common mistake. Loosing it, making a stupid decision, you know the struggle. But once we understand what is going on in the heads of the people out there, we can think ahead and guess the next moves.

A colleague of mine bought a new car three years ago. It’s never a wise choice to buy a brand new car if you don’t want to keep it, but that’s another story. He bought a more family oriented car recently and now wants to sell the other one. The only issue? Who buys a car these days? And the answer is quite honestly: Only the people who urgently need a car. But guess what, they don’t buy a 300 plus hp car. They buy a normal car. And so, nobody will buy this car for its actual price, and the hell not for its current market price.

Photo by Pixabay on Pexels.com

So why taking a decision like this? Because people do not know it better? Because people do not understand what is going on? Or simply because people are afraid and no longer make rational decisions? This colleague wanted to reduce his living costs, he wanted to take a financially better decision. But in the end this decision will loose him another ton of money.

Things will get better eventually? Things will always change. And so having a financial upholstery to be able to wait is always a good idea, but understanding the peoples needs and problems is the necessary skill we all need.

See you next time!

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