“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.
