Episode 545 - The Buying Decision - How To Reduce Risk Maximize Reward

·21 min·2 clips

Kurt reveals the brain's two core drivers: minimizing risk and maximizing reward, rooted in evolution.

The episode begins with Kurt Mortensen reflecting on goal-setting and motivation, asking listeners if this is their year. He then shares a persuasion blunder from a dentist who convinced him to try a sleep study but never followed up, highlighting the importance of persistence in business. Kurt introduces a geeky article from the University of Pennsylvania's Journal of Perspectives of Psychological Science, titled 'Self-Awareness Can Drive Behavior Change, Reprogram the Brain's Reward System,' citing neuroscientist Vera Ludwig. He discusses mindfulness as a tool for goal achievement, emphasizing being present and non-judgmental. The host reads an email from listener Pedro in Panama, who asks about using buy-one-get-one-free offers versus urgency tactics in sales. Kurt explains that the human brain is driven by two core motivations: minimizing risk and maximizing reward, rooted in evolutionary survival. He details how dopamine reinforces behaviors and how the amygdala processes threats. The episode contrasts intrinsic motivation, like purpose and mastery, with extrinsic rewards, noting that external incentives can have diminishing returns. Kurt provides tips for triggering dopamine, such as immediate feedback and fostering a sense of purpose. He warns that unfair rewards, like giving an employee of the month award to an undeserving person, can backfire. The episode concludes with promotions for InfluenceUniversity.com and a millionaire psychology program, followed by ads for Libsyn Ads and Guardian HR.

As heard by us

A plainspoken look at how buying decisions split between risk and reward.

Podcast 545 keeps its focus on buying decisions and the psychology behind them, using Kurt Mortensen to draw a clean line between minimizing risk and chasing reward.

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Why you'd press play

Your buyer may be chasing reward, avoiding risk, or both, and this episode shows you how to tell the difference.

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