Be aware of bias
Here’s my 5th tip for start strategising
5. Be aware of bias
Psychologists have identified more than 100 thinking biases, there is even one called the ‘IKEA effect’ that I think has particular relevance to product managers. The ‘IKEA effect’ means we place a disproportionate value on something we helped to make like flat-pack furniture. Easy to see how this bias might apply to our own products, as a result of the fruits of our labours.
Here are some other biases to be mindful of;
‘Confirmation bias’, is our tendency to interpret new evidence as confirmation of our existing belief or theory, this makes us stop gathering data, or pick out the data point only that supports our view or prejudice, ignoring or forgetting the information that doesn’t support our view.
Or, the ‘bandwagon effect’, this is our tendency to adopt a view because everyone else is doing it. It is a form of groupthink behavior, and it’s easily adopted because we want to be on the winning side, and we hop on the bandwagon despite the evidence to the contrary.
To avoid biases try to look for instance where you might be wrong, and try these things;
1. Try to prove why our strategy or opinion might not work; challenge it from different perspectives, and points of view
2. Ask ‘What if’ questions
3. Seek out people who think differently to us, or who work in different areas, or industries get their opinion
We as Product managers come into our roles through many paths, and that broad knowledge and perspectives give us enormous potential to be strategic, alongside that we have a role, and a function that demands that we be, strategic, we’re the CEOs of our product. If we aren’t being strategic we will die! So, commit to change; acknowledge what is stopping us or holding us back, work to eliminate it or minimise it, and use the suggestions in our blogs to start. Finally, tell us how you got on, we love to hear the experiences, and the personal stories, connect with us here