“Planning Fallacy”
What is the Planning Fallacy?
The tendency to underestimate the time required to complete a task.
Business Relevance
Sales reps tend to overestimate abilities and results which can drive dissatisfaction from new clients who have not been prepped with reasonable expectations.
Difficulty
Creating realistic expectations while reducing transaction friction is a delicate balance.
Everyday Application
It is best to offer an ideal timeline, a worst-case scenario timeline, and a best case-scenario timeline to rely on when providing estimations to a prospect.
Tom Waters
Owner at Everyday Sales
Everyday Sales is an online resource for sales and business education. We expose the psychological exploits used in sales and marketing to empower our clients to become better professionals. Our feature content includes Sales in Cinema, Cognitive Biases in Business, Logical Fallacies in Business, and Quotes Deconstructed.
Latest posts by Tom Waters (see all)
- What’s the difference between a Feature and a Benefit? - April 4, 2019
- Everyday Sales Presents: Systems that Scale - November 6, 2018
- Episode 4: Disney Upcycle - August 13, 2017
