Burning Issue of the society : Illusion of information adequacy

Why people insist they’re correct in any argument ?

Getting into arguments with strangers online or family members can feel a bit like debating with a brick wall and leads to heating arguments.

In any argument we feel we are right, even if we don’t have all the facts.

According to a recent psychology study, people tend to assume that they have all of the information that they need to make a decision or support their position–even if they don’t.

This phenomenon dubbed the “Illusion of information adequacy”

 With Illusion of Information Adequacy , The less that our brain knows, the more confident it is that it knows all it needs to know. 

This makes us prone to think that we have all the crucial facts about a decision, leaping to confident conclusions and decisive judgments, when we are missing necessary information.

With the Illusion Interpersonal conflict is on the rise, driving increases in anger, anxiety, and general stress.

This makes one more adamant and argumentative up to the level of physical fight or break up in many cases. 

One needs to understand the illusion of information adequacy when disagreeing with someone; One can pause for a while and ask one’s self :

• “Is there something that I’m missing that would help me see their perspective and understand their positioning better?”
• “What is the situation or mindset of the person on the other side ?”
• “IF Online, pl check whether a person with logical background or paid background or with vicious mindset ?”
• “What extra information she has which I am missing ?”

This can help lower down, if not eliminate completely, unnecessary interpersonal conflict, allowing us to focus our energy on working through substantive differences between ourselves and others.

Let’s start Happy and Healthy Arguments 🙂 !!!

Let our next generation show the Healthy way and power of fruitful Debate !!

Ref and Data Courtesy : https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0310216

Ref and Data Courtesy : https://www.popsci.com/health/why-we-think-we-are-right/?utm_source=pocket-newtab-en-intl

LinkedIn : Is it shifting from business networking to a PR Platform ?

Recently in order to avoid spamming on the platform, many restrictions have been observed on LinkedIn.

Though with limitations, the users are loosing the ease.

Gradually they have understood not to depend on LinkedIn for business prospecting. It (AI) is going to limit their efforts soon.

And soon we will find people shying away from LinkedIn, inspite there is no alternative business networking platform.

Here are some of the LinkedIn’s specific limits on connection requests, messages, and profile visits.

Particulars : Limit

Connections Requests : 100 – 200/week
1st Degree Connections : 30 000 connections Max
Classic Messages : 150/day
InMails: 25/day
Open InMails : 200/week
Message Requests :400/week
LinkedIn Profile visits : 80/day (150 for Premium users)
Sales Navigator Profile visits : 1000/day
Who viewed your profile : Last 5 Profile Views , Unlimited for Sales Navigator (Now free is blocked completely)
Post in the groups : Same post to more to Max 10 groups / day
Prospecting on LinkedIn : 0.01% response on your messages to your connections
Support : No contact details to submit issue, Only FAQs you have to keep going through
Hacking of Account : We have seen this happening with many users.

Exceeding LinkedIn limits can impact your networking efforts and even lead to account restrictions.

Now just think from the users’ perspective.

• The User spends thousands of hours for networking and business benefits.
• One fine day he is being laid with restriction and looses the expected result.
• And obviously for the benefits of LinkedIn she has the option of paid account.
• No fault of LinkedIn as a company, yet the users who came on this platform with certain business expectation will start shying away and try finding the alternate. We have not found any practical platform yet.

And all efforts of the users are now not yielding in terms of business but PR only.

Things are changing dynamically and users have to understand the time spent is really valuable and yielding the result for them.

(All data from web and personal experience, All info shared are personal views )

Digital Transformation for MSME & Startups in India

India has a rich history of the Industrial Revolution, and many SSI, MSI, and LSI were founded, expanded upon, and thrived during this period.

Then, there was a significant cultural and process-oriented transformation in our society. Today, once again when India is at the forefront of Digital Revolutions our businesses will feel the pinch of change.

Digital transformation is helping the business with new, improved model of doing business. It drifts completely away from the established norm. This model leverages the internet and modern technologies, thus facilitating speedy and intelligent execution of business processes and allowing for an exciting customer experience. Many traditional firms have evolved to become digital savvy by using digital innovations to address need of the time.

As per ibef.org as of the 27th of March 2022, India had more than 7.9 million micro, small, and medium-sized enterprises (MSMEs). The Indian government is working very hard to prepare its citizens for the digital transformation through a number of initiatives.

These businesses are gearing up for digital revolution. Getting ready for Digital Transformation. However they get tangled in the issues like ….

• What to transform?
• From where to start?
• How to transform?
• How long would it take to transform?
• How much is it going to cost?
• What would be impact on the business?

Let’s put some of the benefits of digital transformation for any business..

• Digital transformation closes the gap between customer expectation and way of delivery by business
• With Digital Business it is easy to get access to Global Consumers
• When transitioning to digital it is easy to create content for target market
• Digital processes and marketing can help business with Global Reach
• Better Promotional Strategy with Lesser Cost
• Lower Administration Cost
• Improved Customer Support

How to make Digital Transformation a success for any business?

• It all starts from acceptance from Leadership
• Right Talent and expertise with accountability
• Expect the Culture Change
• Proper definition of Customer Experience journey (end to end)
• Customer Satisfaction & Evolution Of Products, Services And Processes should be center point of the transformation
• Personalized Service For every Customers with AI and BOTs
• Improve with Employee Feedback
• Implementing Changes And keep Evaluating
• Consider Transformation as long term process and keep optimizing

Few Essential Tools to Support Your Digital Transformation

• Beautiful Website with Click to Call, Contact Form and Product Deck Downloads with Data Collection
• Email Suite connected with CRM and automation of mailing
• Communication Platform with all communication Channels
• CMS tools
• Collaboration Tools
• Cloud and common storage with File Transfer Facility
• Digital Signature & VPN
• Firewall & Security solutions
• Project Management Tools
• Intranet & ERP (based on the size of the business)
• Cloud based Accounting
• Cloud based HRMS and Payroll system
• Digital Marketing & Scheduling tools
• Video conferencing Tools

With 1.15 Billion Mobile Subscribers, 103 unicorns, 73000 DAIIPT Registered startups, 159,170 apps from Indian publishers on Google Play store, 7.9 Million MSMEs who did 71 billion digital payments (in FY 2022) in India are reshaping the Business Processes with digital Transformation.

Get Ready and Go for digITal !

My First lesson at Golf changes my age old belief about TARGET

Recently, I went to Dhaka Golf Club to start my Golf Coaching.  A very nice place.

A huge 18 course golf club with beautiful amenities. I met with my instructor and he started with basic lessons for Golf….

1. Outfits and Clothing – What to were and what not to ?

2. Stretching – pretty simple every one needs basic stretching of the body before any golf game

3. Posture – How to stand, how to move body, how to hold the club in your hand with proper grip without force

4. Target – When you hit the ball, don’t look at the the ground, look at the ball only. Calculate in your mind about the need of thrust, distance and angle. And look at the ball (ONLY) while hitting. If you start looking at the ground there are chances you might miss the target as other parameters might not fulfill.

This point exploded age old belief of “Create your target and always look at that” by a small change “Create your target (long term) but always be focus on the current achievements(short term)”.

A very important management lesson from my golf instructor. Thanks to him.

Story of a Boy and Balloon Vendor [Brief]

This is an old story ….

A black boy was standing along with his friends surrounding the Balloon vendor. The Balloon vendor had many balloons big, small, round, pink, yellow, white, blue, black filled with gas. The boys were wondering why the balloons are going up and not falling down ?

The black boy hesitantly asked the balloon vendor : “Even this black one will go up with white, blue and yellow ? Will it not fall down ? “

The vendor smilingly replied : “My dear Boy, IT is not about the color of the balloon, it is about the material from which it is made and what is filled inside the balloon.  Every Balloon is made from the same material and has similar gas filled inside and so every balloon can go up. ”

What is your first reaction ?

At the Crossroads of the Creative ideas

What is the right approach ?

Easily flowing with the current ?or  Create the momentum ?

Sell at ‘My Price’ and not to make loss ? or  Sell at ‘Market Demand’ at any price ?

Embrace Quality people or  Mix with everyone – with or without Quality ?

Any feedback ?

What to do when you encounter the Objections while selling ?

There are 7 types of objections we come across while selling.

1. Price

Example: “Your services cost too much. I can get the ‘same’ service from someone cheaper.”

Hint : Don’t drop the price immediately. You would loose credibility.

Suggestions :
• Try to justify your price by breaking down your total cost or proving your proposed price is = purchase cost + loading charges + your profit.
• Many a time we can differentiate between basic services and premium services
• Your USPs for such price which client cannot get from any other provider
• Show benefit to the client by buying at your price

2. Complacency

Example: “I’m okay with the way things work right now.”

Hint : Don’t say this is OK ending your proposition

Suggestions:
• Go with all the homework done about the prospect you are visiting to
• Elaborate on “IF the client does not use your product / services, then.. ” with a small touch of fear
• Explain how the competitors of the prospect are using new services and benefits they are reaping with the advancement (against complacency)
• Show the cost/ benefit analysis of your product / services against the existing one

3. Fear of Change

Example: “I don’t want to change the way we’ve been doing things for 15 years. Too much can go wrong.”

Hint : Similar to complacency

4. Trust

Example: “It seems like you know what you’re doing, but how do I know you really have the necessary experience to do this?”

Hint : Never ever go without credentials like
a. Membership of industry association
b. Clients’ testimonials
c. Case Studies

Suggestions:
• Don’t show aggression to take the order, be honest and humble
• Show your credentials
• Tell them what clients says about your product / services
• Share the reference to cross check

5. Personal Politics

Example: “I told my brother’s friend’s wife I’d use her company for my next project.”

Hint : This is the biggest hurdle. This also means the person is either under family pressure or needs some gifts

Suggestions:
• Explain if the project fails by his relative, he would not get work done and money is also lost following to loosing relationship and problems in the family
• He could also loose the face in the office due to the incomplete work and might face inq in case of bigger projects
• Motivate the person with some gifts as a courtesy

6. External Input

Example: “I need to run this by my wife/business partner/mentor before I do anything else.”

Hint : He is looking for third party help. The only point the third party has to be trusted one and commercially beneficial to him

Suggestions:
• Create the trust factor spending some time with him
• Work on the business plan
• Show him the benefits working with you

7. Timing

Example: “It’s too much for me to take on right now; I’m too busy; Call me again in 6 months.”

Hint :
a. Having no time is only the excuse.
b. He might not have time even after 6 months.

Suggestions:
• Make your proposition short and sweet
• Request the client for few mins to close the discussion
• Make him understand how easy is this to implement your proposition
• Show the potential upside of your proposition adding value to his career

Abovementioned are the basic objections for any Sales process. With every objection it confirms you are closer to close the deal.

But objections don’t not end. You can make a list of the common objections and the points on how to overcome them.

Because for any client there might be 100 reason “Not to Buy” but “To Buy” there is only one reason – That is “To Buy” !!!

A To Z Qualities of a Salesman

I was browsing through Web to create a the roles and responsibilities of a sales manager for the next recruitment. Here is the extract.

Sales Manager is a person…
A. Who can do Planning & Budgeting
B. can focus on Revenue Generation
C. has good Team Work
D. can create Daily, Weekly, Monthly, Quarterly and Yearly Target
E. is a Psychologist who understands others
F. is a Strategist
G. can do Account Mapping
H. can contribute to Lead Generation
I. can sense New Opportunities
J. can do Brand Promotion
K. is a motivator Motivator
L. is a good Supervisor
M. is a good Performance tracker
N. who Maintains and Improves Client Relations
O. who Maintains Data and Records
P. is a good trainer
Q. Having good knowledge of Product / Technology
R. Handles Credit Situation and Collection
S. can do Product Demonstration and Presentations
T. who Maintains cordial relations with Cross teams
U. keeps Knowledge of competitors
V. who does Market Research
W. Who participates in the events / roadshows
X. who can Recognize the frequent customers and their buying behavior
Y. can communicate favorable image of the organization as a whole
Z. who is trust worthy and dependable

I have my reasons for the A to Z characteristics listed above and will share thoughts on them one by one.

Must to follow NGOs for Jains and Gujaratis

Recently, I have observed two Organisations really serving the people from Gujarat and Jains.  With the endeavour they have put in to building the website and backend Libraries are ultimate. And I must share it with everyone whom I know. 

Hats off to them…..

1. For Jains :

Pravin K Shah
Jaina Education Committee
Jain eLibrary Project
919 859 4994
www.jainelibrary.org

2. Chanderia Foundation : Gujarati Lexicon for All Gujaratis worldwide

http://gujaratilexicon.com

12, Sudhakar Apartment,
26 Narayan Dhabolkar Marg,
Malabar Hill,
Mumbai – 400 006
INDIA

Contact Person: Jayesh Patel
Phone: +91-22-2363 4867, +91-22-2364 0724,
+91-22-2367 7293

 

** I was not told to write about them at all. IT is personal opinion shared with my fellow friends to have best things in virtual life.

“People Myopia” or “Department Myopia”

Myopia – An Ancient Greek word, commonly known as being nearsighted (American English) and shortsighted (British English), is a condition of the eye where the light that comes in does not directly focus on the retina but in front of it.

This causes the image that one sees when looking at a distant object to be out of focus, but in focus when looking at a close object.

Marketing myopia is a term used in marketing as well as the title of an important marketing paper written by Theodore Levitt. Marketing Myopia suggests that businesses will do better in the end if they concentrate on meeting customers’ needs rather than on selling products.

The Myopic culture, Levitt postulated, would pave the way for a business to fail, due to the short-sighted mindset and illusion that a firm is in a so-called ‘growth industry’.

Extending this phenomena, many Top Level Executives suffer from “People Myopia” or “Department Myopia”. Gradually they start loving their team mates from the same department they belong. They start believing in “My Own Department” from they have incepted or have worked long. They feel possesive for the people of that department as their own rather a part of the company. They unknowingly extend their favour to the people about whom they feel possessive and believe what ever work done by that particular employee or department is always RIGHT.

This undue favour comes from “People Myopia” or “Department Myopia”.

Unfortunately, this does not stop here. They start doing injustice to other people or department in the company to prove their “People Myopia” or “Department Myopia” is right. And simply others suffer !!

This leads to …

1. Wastage of Resources increasing burden on other people or departments
2. Frustration among other people or departments due to increased work and injustice
3. Their own people from own department (under Myopia) take disadvantage from them

A very small dieses of Myopia can lead to huge loss.
And the people who resist their Bosses’ Myopia are always in the trouble.

Suggestion :  Study, observe and let it be loose