We over-value what we already have

duke basketball gym

We over-value what we already have.

Duke University’s basketball team does consistently well and its small gym is always sold out. People have to camp out to get into a lottery for the right to buy a ticket. For one game, a psychologist posed as a scalper offering to set up a deal for losers to buy a ticket and winners to sell. The average buyer was willing to pay $170. The average seller wouldn’t accept less than $2400. The potential buyers spoke of it as being the equivalent of an evening out with friends plus drinks. The potential sellers justified their price by describing it as priceless, irreplaceable memories and stories for the grandkids. This seriously distorted their perception of the true value of the tickets.

Be it our family home, car, job, boss or favourite TV show, we over-value what we currently have.

People toss around the terms “ownership” and “buy-in” in workplaces a lot but what do they actually mean when it comes to performance and behaviour? The more work you put into something or the greater the time, emotion, & commitment invested, the greater the depth and sense of ownership.

How do you generate this with your people?


buyin ownership leadershipdevelopment

About Terry Williams - The Brain-Based Boss

I'm all about engaging people and helping you engage yours to influence behaviour to improve results - at work and at home. Maybe you're a manager, a salesperson, a leader, a parent, a presenter or an event organiser? You need to grab your people's attention, create some rapport, be memorable and influence behaviour change. How can we do that? I'm originally a trainer by trade, turned manager, turned comedian and partway back again. Author of 'THE GUIDE: How to kiss, get a job & other stuff you need to know', I write and speak about how to engage people, be they employees, family or yourself. How can we connect with people’s own internal motivations and help them use their own inner passions to drive towards productivity, success and happiness? And hopefully have a few laughs along the way... As a trainer facilitating learning and development in others, I find myself drawing on my own extensive business experience. I specialise in the delivery of high impact, customised training solutions for organisations that are serious about improving the performance and lives of their people.

Posted on August 10, 2020, in Employee Engagement. Bookmark the permalink. Leave a comment.

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