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5 Cognitive Biases That Have Kept You From Achieving Full Potential

5 Cognitive Biases That Have Kept You From Achieving Full Potential

We like to think of ourselves as smart, rational, logical people who make good decisions. But in reality, we sometimes have poor judgment and make really bad choices. Every day, we have cognitive biases that influence our thinking. Why should we care? These biases have a major influence on the decision making process.

We have hundreds of cognitive biases, and some keep us from achieving our full potential. Psychologists have been researching them for decades. Here are some of the biases that could be holding you back:

1. The Current Moment Bias

This bias feeds the immediate gratification effect. We would much rather have pleasure now and save pain for later. If you have ever indulged in unhealthy food choices while trying hard to lose weight, or tend to overspend money instead of saving for the future, you have been victim of the current moment bias.

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What to do:

  • When you want to make a big purchase, wait for a predetermined amount of time before you purchase the item. This will help you avoid splurging on things you don’t love. For example, plan to wait one week for purchases that amount to $100 and one month for purchases $1000 or more.
  • Plan healthy meals ahead of time so you are less likely to chow down on junk food when you walk in the door from work. Decide in advance what you’ll order at restaurants to avoid making unhealthy spur-of-the-moment dinner choices.

2. The Confirmation Bias

The confirmation bias, according to Science Daily, is a tendency to search for or interpret information in a way that confirms your preconceptions. This can hold you back from achieving full potential, because being closed-minded can limit your ability to learn, grow, and improve yourself and your life.

What to do:

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  • Be open to other points of view and new possibilities. Be aware that you have certain beliefs, and be willing to evaluate your belief systems objectively.

3. The Framing Effect

Framing information, either positively or negatively, can have a huge impact on how it is received.

Here’s an example of the framing effect in an article by Sam McRoberts:

  • Doctor A: “With proper treatment, you have an 80 percent chance of a full recovery.”
  • Doctor B: “There’s a 20 percent chance that you’ll die after being treated for this illness.”

Although Doctors A and B are providing the same information, they are presenting it differently, which can greatly affect patients’ perceptions. An 80 percent change of recovery sounds much better than a 20 percent chance of dying.

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How does this hold you back? When information is presented to you either positively or negatively, it can cause you to make poor decisions.

What to do:

  • Be aware of how information is presented to you in order to persuade you to take a certain action.
  • Look at both sides of statistics. For example, if you are told “this meat is 90% lean,” be aware that it is the same as hearing “this beef is 10% fat.”
  • Consider how you present information to others.

4. The Bandwagon Effect

The bandwagon effect is when we follow the actions or beliefs of a large group of people. According to Dr. Mohammed Ali N M, we do this either because we desire to conform, or because we receive our information from others. The bandwagon effect can hold us back at times when we follow trends and fads without doing our research.

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What to do:

  • Put careful thought into your decisions, and don’t jump into something just because “everyone else” tells you to.

5. The Projection Bias

The projection bias describes our assumption that other people think like we do. We tend to overestimate how common our thoughts and beliefs are. We assume that our way of thinking about things is common among the majority. This can hold us back significantly in life because it causes us to believe we know exactly what people want. We tend to assume we know the priorities, motivations, attitudes, and beliefs of others, when in reality we don’t. This can affect us negatively in relationships in our personal lives and in our careers.

What to do:

  • Make a point of asking people questions instead of assuming they think like you do.

Simply being aware of these biases can help you live a better life. Each day, we make thousands of decisions, and realizing the biases that affect your judgment can help you make better informed, well-thought decisions.

Featured photo credit: The Thinker / Dan McKay via flickr.com

More by this author

Dr. Kerry Petsinger

Entrepreneur, Mindset & Performance Coach, & Doctor of Physical Therapy

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Last Updated on November 15, 2018

Success In Reaching Goals Is Determined By Mindset

Success In Reaching Goals Is Determined By Mindset

What do you think it takes to achieve your goals? Hard work? Lots of actions? While these are paramount to becoming successful in reaching our goals, neither of these are possible without a positive mindset.

As humans, we naturally tend to lean towards a negative outlook when it comes to our hopes and dreams. We are prone to believing that we have limitations either from within ourselves or from external forces keeping us from truly getting to where we want to be in life. Our tendency to think that we’ll “believe it when we see it” suggests that our mindsets are focused on our goals not really being attainable until they’ve been achieved. The problem with this is that this common mindset fuels our limiting beliefs and shows a lack of faith in ourselves.

The Success Mindset

Success in achieving our goals comes down to a ‘success mindset’. Successful mindsets are those focused on victory, based on positive mental attitudes, empowering inclinations and good habits. Acquiring a success mindset is the sure-fire way to dramatically increase your chance to achieve your goals.

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The idea that achieving our goals comes down to our habits and actions is actually a typical type of mindset that misses a crucial point; that our mindset is, in fact, the determiner of our energy and what actions we take. A negative mindset will tend to create negative actions and similarly if we have a mindset that will only set into action once we see ‘proof’ that our goals are achievable, then the road will be much longer and arduous. This is why, instead of thinking “I’ll believe it when I see it”, a success mindset will think “I’ll see it when I believe it.”

The Placebo Effect and What It Shows Us About The Power of Mindset

The placebo effect is a perfect example of how mindset really can be powerful. In scientific trials, a group of participants were told they received medication that will heal an ailment but were actually given a sugar pill that does nothing (the placebo). Yet after the trial the participants believed it’s had a positive effect – sometimes even cured their ailment even though nothing has changed. This is the power of mindset.

How do we apply this to our goals? Well, when we set goals and dreams how often do we really believe they’ll come to fruition? Have absolute faith that they can be achieved? Have a complete unwavering expectation? Most of us don’t because we hold on to negative mindsets and limiting beliefs about ourselves that stop us from fully believing we are capable or that it’s at all possible. We tend to listen to the opinions of others despite them misaligning with our own or bow to societal pressures that make us believe we should think and act a certain way. There are many reasons why we possess these types of mindsets but a success mindset can be achieved.

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How To Create a Success Mindset

People with success mindsets have a particular way of perceiving things. They have positive outlooks and are able to put faith fully in their ability to succeed. With that in mind, here are a few ways that can turn a negative mindset into a successful one.

1. A Success Mindset Comes From a Growth Mindset

How does a mindset even manifest itself? It comes from the way you talk to yourself in the privacy of your own head. Realising this will go a long way towards noticing how you speak to yourself and others around you. If it’s mainly negative language you use when you talk about your goals and aspirations then this is an example of a fixed mindset.

A negative mindset brings with it a huge number of limiting beliefs. It creates a fixed mindset – one that can’t see beyond it’s own limitations. A growth mindset sees these limitations and looks beyond them – it finds ways to overcome obstacles and believes that this will result in success. When you think of your goal, a fixed mindset may think “what if I fail?” A growth mindset would look at the same goal and think “failures happen but that doesn’t mean I won’t be successful.”

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There’s a lot of power in changing your perspective.

2. Look For The Successes

It’s really important to get your mind focused on positive aspects of your goal. Finding inspiration through others can be really uplifting and keep you on track with developing your success mindset; reinforcing your belief that your dreams can be achieved. Find people that you can talk with about how they achieved their goals and seek out and surround yourself with positive people. This is crucial if you’re learning to develop a positive mindset.

3. Eliminate Negativity

You can come up against a lot of negativity sometimes either through other people or within yourself. Understanding that other people’s negative opinions are created through their own fears and limiting beliefs will go a long way in sustaining your success mindset. But for a lot of us, negative chatter can come from within and these usually manifest as negative words such as can’t, won’t, shouldn’t. Sometimes, when we think of how we’re going to achieve our goals, statements in our minds come out as negative absolutes: ‘It never works out for me’ or ‘I always fail.’

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When you notice these coming up you need to turn them around with ‘It always works out for me!’ and ‘I never fail!’ The trick is to believe it no matter what’s happened in the past. Remember that every new day is a clean slate and for you to adjust your mindset.

4. Create a Vision

Envisioning your end goal and seeing it in your mind is an important trait of a success mindset. Allowing ourselves to imagine our success creates a powerful excitement that shouldn’t be underestimated. When our brain becomes excited at the thought of achieving our goals, we become more committed, work harder towards achieving it and more likely to do whatever it takes to make it happen.

If this involves creating a vision board that you can look at to remind yourself every day then go for it. Small techniques like this go a long way in sustaining your success mindset and shouldn’t be dismissed.

An Inspirational Story…

For centuries experts said that running a mile in under 4 minutes was humanly impossible. On the 6th May 1954, Rodger Bannister did just that. As part of his training, Bannister relentlessly visualised the achievement, believing he could accomplish what everyone said wasn’t possible…and he did it.

What’s more amazing is that, as soon as Bannister achieved the 4-minute mile, more and more people also achieved it. How was this possible after so many years of no one achieving it? Because in people’s minds it was suddenly possible – once people knew that it was achievable it created a mindset of success and now, after over fifty years since Bannister did the ‘impossible’, his record has been lowered by 17 seconds – the power of the success mindset!

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