I came from the world of selling as an account manager and moved up the ranks to Director of Sales, then VP of International Sales and eventually President of Sales and Marketing. I know what it takes to sell and how to manage and motivate your sales team. I didn't read a book on selling; I LIVED IT! Selling has become tougher! It isn't what it use to be! Show up, do the dog-and-pony and close the deal! Not any more! Today's buyer has changed given access to more information. This means buye ...
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The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics
Melina Palmer
Consumers are weird. They don't do what they say they will do and don't act how we think they "should." Enter Melina Palmer, a sales conversion expert with a personal mission to make your business more effective and brain friendly. In this podcast, Melina will take the complex concepts of behavioral economics (the study and science of why people buy - or not) and provide simple, actionable tips you can apply right away in your business. Whether you're a small business or thriving corporation ...
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Why do People Buy? That is the #1 question that will impact your bottom line. And yet it's the question that no one asks Discover what your buying personality is -> https://lnk.bio/5Dvl Click the link to take the test. Hint: It only takes 90 seconds😜
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427. The Mentorship Mindset: Nobel Insights with Dr. Bob Lefkowitz
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In this episode of The Brainy Business podcast, host Melina Palmer welcomes Nobel Prize winner Dr. Bob Lefkowitz for an insightful discussion on mentorship, focus, and the power of saying no. Dr. Lefkowitz, a distinguished professor at Duke University Medical Center, shares his journey from a passionate physician to a Nobel laureate in Chemistry, h…
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Rich Niche - Define Your Buying Persona | 445
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Rich Niche - Define Your Buying PersonaOleh Victor Antonio
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426. Defaults Uncovered: The Hidden Influences on Our Choices (Refreshed Episode)
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In this episode of The Brainy Business podcast, Melina Palmer explores the concept of defaults, how they impact our decisions, and the critical role they play in business and everyday life. Melina discusses the omnipresence of defaults and how they influence our choices, often without us even realizing it. She explains the concept of status quo bia…
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425. Decisions Over Decimals: Insights from Christopher Frank
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In this episode of The Brainy Business podcast, Melina Palmer and Christopher Frank, Chief Client Officer at PSB Insights, dive into the art of decision-making in a data-driven world. Christopher, who has a rich background with industry giants like American Express and Microsoft, shares his expertise in leveraging consumer insights to gain a compet…
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424. Mastering Project Scoping with Questions: Insights from Mars w/ Beatrix Daros (Refreshed Episode)
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In this episode of The Brainy Business podcast, Melina Palmer explores the power of questions in project scoping with Beatrix Daros. Originally aired in 2022, this episode revisits their collaborative work from 2019, focusing on leveraging behavioral economics to enhance project outcomes. Beatrix emphasizes the importance of balancing technology wi…
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423. Unveiling the Biases Behind Misinformation w/ Alex Edmans
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In this episode of The Brainy Business podcast, Melina Palmer welcomes Alex Edmans, author of May Contain Lies, to discuss the fascinating intersection of finance, behavioral economics, and misinformation. Alex, a professor of finance at London Business School with a Ph.D. from MIT, delves into the impact of emotions on the stock market, using intr…
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To recharge your sales performance, you must first recharge your physical and mental energy through self-care habits, inspiration, and a client-centric approach. ️ To recharge your sales, you must first recharge yourself, just like you would recharge a dead smartphone battery. ️ Just like a phone, our mental energy can drain if we procrastinate on …
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422. The Lazy Brain: Unveiling Biases That Shape Our Decisions (Refreshed Episode)
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In this episode of The Brainy Business podcast, Melina Palmer explores the fascinating world of lazy brain biases. This episode is part of an eight-part series exploring various biases, focusing on how our brains prefer to take the path of least resistance. This rapid-fire episode provides a brief overview of each bias, helping you understand their…
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421. Behavioral Science and Democracy w/ Beatriz Vallejo
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In this episode of The Brainy Business podcast, Melina Palmer is joined by Beatriz Vallejo, CEO of Ethos BT, to discuss the impactful work of reducing misinformation and polarization in Colombia using behavioral science. Beatriz, a behavioral scientist and economist, shares her journey from studying economics in Colombia to completing a master's in…
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Building Virtual Rapport and Connecting with Customers | 442
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Starting virtual meetings effectively is crucial for establishing positive connections and setting the tone for the entire interaction. Start meetings by sharing your opinion first to encourage participation from small groups. Engaging participants in virtual meetings by setting a structured format and leading by example encourages contributions an…
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420. Boosting Local Economies with Behavioral Science (Refreshed Episode)
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Oleh The Brainy Business
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Rapport Building Questions - Starting a Sales Conversation | 441
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Engaging clients through thoughtful questions about their challenges, interests, and future predictions fosters meaningful conversations and builds strong rapport in sales. Use Kickstart question starters to initiate engaging conversations with prospects or clients. Engaging clients with prediction questions about market trends and future behaviors…
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The traditional pressure-based approach to closing sales is ineffective in today's market, and salespeople need to adopt a more modern and client-focused approach, as outlined in "The Perfect Close" book, in order to be more successful. Learn about the perfect close 2.0 and how it can help you sell more effectively. The Perfect Close in James M's b…
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Building Decision Making Confidence | 439
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Building decision-making confidence in customers is crucial for sales success, and sales influence comes from clarifying the differences between products and helping customers build decision confidence. Building decision-making confidence in customers is crucial for sales success. Researching lighting systems online, found a helpful video comparing…
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In sales and business, it is important to be adaptable, constantly learning, and to focus on the client's needs rather than the speaker's ego. Connecting with others on a personal level, such as sharing interests, is an important aspect of building relationships in sales. Miyamoto Musashi, a legendary samurai, wrote a book on the ideal qualities of…
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419. The Mentorship Mindset: Insights from Dr. Ruth Gotian
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In episode 419 of The Brainy Business podcast, Dr. Ruth Gotian, co-author of the Financial Times Guide to Mentoring, shares her extensive expertise on mentorship and leadership development with host Melina Palmer. Ruth, who serves as the Chief Learning Officer and Associate Professor of Education in Anesthesiology at Weill Cornell Medicine, is a gl…
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Selling Negative Features Increases Sales | 437
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Addressing and highlighting negative features in a sales pitch can be used to pivot to the positive and ultimately increase credibility and sales. Mentioning a negative feature can increase credibility and be used to bolster a product or service in sales. Addressing product weaknesses proactively in sales conversations can help regain control and p…
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418. The Hidden Forces Shaping Your Decisions: Personal Biases Explained (Refreshed Episode)
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In this episode of The Brainy Business podcast, Melina Palmer dives into the fascinating world of personal biases, exploring how our brains are wired to perceive ourselves and the world around us. This episode, originally aired in April 2019, provides a rapid-fire overview of various biases that impact our personal and professional lives. Melina di…
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Discovery Phase Questions Help You Sell Easier - What to Ask | 436
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The discovery phase in sales is crucial for qualifying potential clients and understanding their needs and motivations in order to tailor a focused and effective sales demo. The discovery phase in sales is about qualifying clients to see if they are a good fit for a product demonstration. Qualifying the opportunity involves asking three questions: …
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417. The Art of Respectful Disagreement w/ Justin Jones-Fosu
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In episode 417 of The Brainy Business podcast, Melina Palmer interviews Justin Jones-Fosu, author of I Respectfully Disagree. Justin, the CEO of Work Meaningful, is a dynamic speaker and thought leader on topics of meaningful work and inclusion, delivering over 50 keynote addresses annually. His latest book delves into navigating difficult conversa…
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7 Buying Triggers for a HIGHER Closing Rate| 434
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Understanding the triggers for change in potential clients' businesses and making it easy for them to buy and use your product is essential for sales success. Understand the triggers for change that lead people or companies to buy your product or service. New leadership, change of ownership, and shift in responsibilities can trigger the need for ne…
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4 Types of Conversations to Bridge Value Gap | #433
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In order to bridge the gap between the customer's current state and the desired state in sales, it is important to address the parameters of time, money, effort, and confidence in the sales pitch. Imagine your customer on one side of a deep hole and your solution on the other side as a visual for change in sales. Bridge the gap between the customer…
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416. Mastering Motivation: Behavioral Economics Insights (Refreshed Episode)
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In this episode of The Brainy Business podcast, Melina Palmer dives into the intricacies of motivation, exploring how our brains can both get and stay motivated. This episode is designed to help you understand the psychological underpinnings of motivation, including the impact of behavioral economics concepts like loss aversion, habits, and framing…
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415. Behavioral Finance and Wealth Confidence w/ Anthony Damtsis of TD Wealth
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In episode 415 of The Brainy Business podcast, host Melina Palmer welcomes Anthony Damtsis, Deputy Head of Behavioral Finance at TD Wealth. Anthony shares his fascinating journey from leading the behavioral science practice at Discover Card in Chicago to his current role at TD Wealth, where he develops tools to help advisors integrate behavioral fi…
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414. Structuring Complex Choices: The "S" in NUDGES Explained (Refreshed Episode)
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In episode 414 of The Brainy Business podcast, host Melina Palmer delves into the intricacies of structuring complex choices, the "S" in NUDGES. This episode revisits the crucial topic of choice architecture, emphasizing how businesses can simplify decision-making processes for their customers. By understanding and effectively managing complex choi…
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413. Empathy and Innovation: Behavioral Science Applications in Business w/ Dr. Melaina Vinski
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In episode 413 of The Brainy Business podcast, host Melina Palmer welcomes Dr. Melaina Vinski, the Behavioral Science Lead at IBM, for a deep dive into the practical applications of behavioral science in business and technology. Melaina, with her extensive background in cognitive neuroscience and human behavior, shares her journey from academia to …
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Effective product demos should be customer-centric, focused on framing the issue, showing how it applies to the client, and discussing the issue resolution, while also structuring the presentation to tell them, show them, and then tell them what you just told them. Presenting a simple formula for effective product demos by layering more value on to…
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412. Mastering Decision Making: Three Essential Steps with Matthew Confer (Refreshed Episode)
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In this enlightening episode of The Brainy Business podcast, host Melina Palmer revisits a compelling conversation with Matthew Confer on the three essential steps to better decision-making. As the VP of Strategy at Abilitie, Matthew brings a wealth of knowledge on leadership development and decision-making frameworks. This episode is a must-listen…
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When presenting a product or service to a client, it is important to focus on understanding the customer's needs and presenting tailored solutions, rather than overwhelming them with too many features and justifying the price through a long presentation. Stop overselling and value dumping when presenting a product or service to a client. Building m…
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411. Behavioral Science in Action: From TEDx Talks to Real-World Change with Jordan Bridger
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In this episode of The Brainy Business podcast, host Melina Palmer welcomes Jordan Bridger, a behavioral scientist, social psychologist, comedian, and speaker who has graced four TEDx stages. Jordan dives into the fascinating world of linguistic neuroscience, exploring how our word choices and the symbols we use shape our experiences and behaviors.…
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Creating a sense of urgency and demonstrating the tangible value of the product or service is crucial in driving sales and motivating customers to make a change. Create a sense of urgency to overcome status quo bias and encourage customers to buy. Show the customer that the pain of staying the same is greater than the pain of change to motivate the…
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Building trust, demonstrating expertise, and keeping the customer's best interest in mind are essential for overcoming indecision and closing deals. Clients who can't make decisions are often afraid, and it's the salesperson's job to reduce their anxiety and address their concerns. Create a sense of urgency to push potential customers to make a dec…
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410. Nudgeable Moments: Tackling Insurance Fraud with Dr. Benny Cheung (Refreshed Episode)
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In this episode of The Brainy Business podcast, host Melina Palmer revisits her engaging conversation with Dr. Benny Cheung of Dectech. Originally aired in February 2021, this episode dives into the fascinating world of applied behavioral science, focusing on a compelling case study about opportunistic insurance fraud. Benny shares insights from hi…
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409. Driving Microsoft Love Through Research and Strategy w/ Haley Swafford
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In episode 409 of The Brainy Business podcast, Haley Swafford, Market Research Manager at Microsoft, shares her insights into emotional brand relationships and the effort to drive love for the Microsoft brand. Haley’s extensive background in market research, coupled with her passion for uncovering emotionally centered insights, shines through as sh…
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The Sales Sherpa - What Buyers Want | 428
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Salespeople need to shift from selling to guiding and clarifying, becoming domain experts in order to help customers navigate the overwhelming amount of content and make informed buying decisions. Understand how the client mindset has changed over time to use it to your advantage in sales. Customers want more information and guidance from salespeop…
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Key insights Using a three-part formula can help you train or coach more effectively by allocating time strategically during your sessions. Take one-third of the time to explain the concept, and the second third to showcase it in action. Implementing concepts in real life is where the real understanding comes from in training for results. The key t…
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408. Harnessing the Peak-End Rule for Outstanding Experiences (Refreshed Episode)
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In this episode of The Brainy Business podcast, Melina Palmer delves into the intricacies of the peak-end rule and its significant influence on customer experiences. Drawing from her expertise in behavioral economics, Melina elucidates how our brains prioritize intense moments and the final impression when evaluating experiences. She provides pract…
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407. Unpacking the Psychology Behind Scarcity w/ Mindy Weinstein
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In Episode 407 of The Brainy Business podcast, Mindy Weinstein, the author of The Power of Scarcity and CEO of Market MindShift, joins host Melina Palmer to discuss the psychological impact of scarcity on consumer behavior. Mindy's expertise in scarcity tactics stems from her Ph.D. program and extensive market insights. Throughout the episode, Mind…
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The key to success in sales is reaching level three selling activities, which involves proactively identifying and solving customer problems, anticipating future issues, and providing long-term value to the customer. Understand the three types of salespeople and where you fit in the market to differentiate yourself in a competitive market. Differen…
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406. Why We Buy w/ Patrick Fagan (Refreshed Episode)
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In episode 406 of The Brainy Business podcast, behavioral scientist Patrick Fagan shares insights on the psychology of effective messaging in marketing, drawing from his extensive research and book "Hooked." Fagan's expertise lies in understanding and influencing consumer behavior, utilizing behavioral science to uncover the impact of environmental…
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405. How to Outthink and Outperform in Marketing w/ Roger Hurni
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In episode 405 of The Brainy Business podcast, Melina Palmer interviews Roger Hurni, an author and behavior strategist known for his work with iconic brands such as DoubleTree Hotels, Nike, PF Chang's, and PetSmart. Throughout the conversation, Roger shares pivotal moments that shaped his understanding of human behavior, emphasizing the importance …
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404. Navigating the Customer Journey: Insights from Jennifer Clinehens (Refreshed Episode)
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404. Navigating the Customer Journey: Insights from Jennifer Clinehens (Refreshed Episode) Today’s Episode: In episode 404 of The Brainy Business, Jennifer Clinehens, with her diverse background in entrepreneurship and experience design for global brands, shares valuable insights into the intersection of behavioral science and business. Through her…
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403. The Power of Games w/ Kelly Clancy
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In episode 403 of The Brainy Business podcast, neuroscientist and physicist Kelly Clancy, through her extensive experience at MIT, Berkeley University College London, and DeepMind, provides a profound exploration of the psychology of games and their influence on behavior and decision-making. Kelly's expertise in neuroscience and game design is evid…
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402. Why Quitters Often Win w/ Annie Duke (Refreshed Episode)
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In episode 402 of The Brainy Business podcast, Annie Duke, a former professional poker player and author of the book Quit, joins host Melina Palmer to discuss the psychology of quitting and decision-making under uncertainty. Annie's transition from an academic to a professional poker player and her subsequent work in decision science provide a uniq…
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Fear, apathy, and skepticism are common barriers to motivation, and managers need to address these issues by providing clear training, showing the value in employees' work, and connecting tasks with outcomes to motivate their team and reduce doubts. 00:00 Fear, apathy, and skepticism are the three categories that hold people back from being motivat…
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STOP Using Weasel Words - Confidence Killer | #424
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Using weasel words undermines confidence in sales communication and it's important to eliminate them to build confidence and persuade customers effectively. 00:00 Stop undermining your sales success and ability to persuade by using weasel words without realizing it. 00:32 Customers want confidence to make buying decisions, so it's important to diff…
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401. The Art of Deception: Recognizing and Overcoming Cognitive Blindspots w/ Dan Simons and Christopher Chabris
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On this episode of The Brainy Business podcast, host Melina Palmer welcomes Dr. Dan Simons and Dr. Christopher Chabris, the renowned authors behind the bestseller The Invisible Gorilla. They dive deep into their groundbreaking research on inattentional blindness and how everyday cognitive habits can render us vulnerable to deception. Through engagi…
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400. Unveiling Survivorship Bias: How It Shapes Business Decisions (Refreshed Episode)
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Welcome to the 400th episode of The Brainy Business podcast! In this milestone episode, Melina Palmer delves into the intriguing concept of survivorship bias, a critical thinking error that can significantly impact decision-making in business and personal life. Through engaging storytelling, Melina takes us back to World War II to uncover the origi…
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399. Engaging Minds: How Clear Communication Can Drive Better Choices with Max Mawby
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In this insightful episode of The Brainy Business podcast, host Melina Palmer welcomes Max Mawby, a seasoned expert in applied behavioral science at Thinks Insight & Strategy. Max shares his unique journey from working in the UK government to founding the financial behavior team at the Behavioral Insights Team, exploring the significant impact of b…
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398. Exploring Behavioral Insights with Michael Hallsworth: Lessons from Traffic to Health (Refreshed Episode)
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In this episode of The Brainy Business podcast, host Melina Palmer welcomes Dr. Michael Hallsworth, a co-author of Behavioral Insights and a key figure in applying behavioral science to public policy. Dr. Hallsworth shares fascinating anecdotes from his extensive work, highlighting projects such as reducing antibiotic prescriptions in the UK and in…
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