Business

Paradox of Choice

Paradox of Choice

This article was first seen on NateAnglin.com. To see original article, click here. At the end of every day, you sit and stare at your computer screen.

Paradox of Choice 

We see it in our daily shopping habits. Toilet paper, electronics, appliances, coffee (this is the best kind by the way), you name it. And it gets worse the more complex the sales. More options, higher priced contracts, and more at stake.

I see it at Skylink. We'll need to buy a $15,000 part and we send an RFQ to 25 companies. We know there's 2-3 on that list that are our preferred suppliers who have proven themselves. The same holds true for our clients.

We were recently apart of a $500,000 a year contract.  The person leading our client's project is a friend whom we've got to know well. We've done a lot of business together. We helped create the need for our solution and the proposal. We all earned the trust that's necessary for such an endeavor.

Yet, once the RFP was ready, they sent it to 200 people...on their "email list." I get it. I understand the thought behind it. Yet when the no replies, half-hearted, incomplete proposals come back with cheap pricing... choice overload sets in.

It smacks you across the head. Thump. You go brain numb. You begin chasing the Golden Goose.

It's like what Barry Schwartz says in his Ted Talk (don't mind his shorts!)...