Nov 15, 2019
It’s that time of year when
everything starts to speed up. We all have so much to do for our
businesses and personal lives...how can we get it all done? This is
the perfect time to talk about your brain on time pressure as we
head into Black Friday and Cyber Monday deals and limited time
offers at every turn.
You may be considering if you
should do a year end sale or offer in your business, or maybe you
love taking advantage of the deals—or want to know why you can’t
stop yourself from a deal sometime. Whatever the background, we all
can learn about our brains on time pressure. And it isn’t just
buying decisions that are impacted by this, which I will get into
during the episode. You also have other impacts within your work
and personal life where your precious commodity of time is limited
and impacting your performance.
Think about it. If you had all
the time in the world to make a decision…what would you do? How
would you go about it? I discuss time pressure and how it impacts
you as a consumer. Then I will discuss some ways to think about
using time pressure in your promotions and offerings, and finally,
some ways to think about how it impacts your actions in life and
- [03:46] If you had all the time
in the world to make a decision, what would you do?
- [03:59] You would ideally be
able to evaluate every important feature and aspect against each
other, and devise a system for ranking values.
- [04:39] Trying to consider
every facet and every decision means you never actually make a
- [05:01] We need to structure
our decisions properly and only consider what matters. The
subconscious brain has to make a lot of those decisions because the
conscious is too slow.
- [05:47] The subconscious is
heavily influenced by rules and concepts of personal biases and
that doesn't always lead to the best results in life and
- [06:03] Limited quantities,
opportunities and time are all closely tied to value in the
- [06:44] When there is plenty of
time available, we might be calmer and the conscious has some time
to think and process. But time pressure? Move over conscious!
You’re too slow and I got this down.
- [07:06] Studies have found
people are less creative when they are under time constraints. They
also defer making choices at all and if forced to make a choice,
it's not the best one.
- [07:25] Time pressure is a form
- [08:24] How time pressure
affects you as a consumer. People buy more during the
- [09:34] When the brain is
overwhelmed, the subconscious takes over and that can negatively
impact your decisions.
- [09:48] Studies show that the
things the brain focuses on when making decisions shift and can
actually reverse when time pressure is applied.
- [10:03] When there is plenty of
time available, people become risk-averse. When pressure is
applied, we become loss averse and FOMO takes over.
- [10:17] Time pressure can
encourage people to buy an extra item or get something “just in
case” especially when paired with a discount or benefit of some
- [10:42] Have a plan and a list
if you have regrets about overspending after time discounted
- [11:19] Make a list of everyone
you want to shop for. List of dollar amount you want to spend on
each person. Run this against your total budget for the holiday to
make sure you are in alignment and make any necessary
- [12:12] Having a list makes it
easier to hold yourself accountable to a plan.
- [13:44] It's good to set up
rules when you are in a cold state so you are prepared when you get
into the hot state.
- [15:28] Having any check in
point and taking a moment to breathe can help you determine if this
thing you are interested in is truly a great deal for YOU at this
- [16:16] Making promos and
offers. It's important for most businesses to have promotions and
offers at some time or another.
- [16:28] Some ways you can
incorporate time pressure in your offers is to have a discount or
sale or gift that is only available until a certain date or
- [17:04] Countdowns are very
effective in showcasing a deadline and the time
- [18:03] Another way you can
look at time pressure is with a limited quantity.
- [19:03] Look around at what
makes YOU want to act. When have you bought something you didn’t
realize you were ready for?
- [20:33] It's best to test and
find out what works for your business. Time pressure can almost
always be effective when used properly.
- [20:59] Don't feel like you
have to do a Black Friday offer just because everyone else
- [21:53] If it doesn’t work for
your business…don’t do it!
- [22:20] Actions you take in
life and business and how they are impacted by time
- [22:51] The worst case and best
case scenario become the new normal and that impacts your
- [23:12] When you have lots of
time to get something done, you have a status quo of all the
important things to look at and do. You make a list and work
through it and have risk accounted for.
- [23:24] When there is time
pressure, your brain looks at the biggest extremes – the worst
thing that could happen if you don’t act and the best thing that
could happen if you do.
- [24:03] Time pressure may get
you to finally act and get things done…but are they of high quality
and what you would have actually wanted done?
- [24:23] Studies have found that
time pressure causes people to be less creative, less accurate, and
for some people can cause them to freeze and revert to making no
decision at all.
- [26:23] Do you have any big
things that are constantly moving to tomorrow or next week on the
to do list? Constantly putting the important things off is a
mindset block we work through in the Brainy Mindset
- [26:47] You don’t need to be
under constant pressure to get things done. If you know what your
brain is doing, why it is putting those blocks out for you and why
they are actually holding you back, you can find time to alleviate
- [27:55] Start by narrowing down
your goals. Put in time budgets and deadlines based on what is
truly in your day.
- [29:56] Planning and breaking
it down into micro-tasks or mini goals can help you to accomplish
the big stuff because it gets you out of time pressure.
- [30:09] Sometimes, time
pressure and deadlines can be helpful, but it is best when you are
setting those time limits yourself.
- [30:26] Thoughtful time
blocking and time pressure can help you move forward and make
- [30:59] Set rules for yourself
and remember to say that you DON’T do the thing instead of CAN’T do
the thing. Studies have found that the way you frame your self talk
is really important.
- [31:28] Take a step back and
take time to evaluate what's really going on.
Thanks for listening. Don’t
forget to subscribe on
Android. If you like
what you heard, please leave a
review on iTunes
and share what you liked about the
Links and Resources: