Recently one of my friend found a mobile phone of a stranger in the bus, rationally it didn’t belong to my friend and it shouldn’t have been big deal – it belonged to someone else. Emotionally, however, my friend felt like there was lose of a mobile phone, even though it wasn’t really belongs to my friend at all.
I term it as ‘Seen-Unseen Loss’, is the idea that most (all) hate to lose things more than they like to gain them. It is similarly seen in Businesses or Corporates or Relationships that psychology is able to quantify, but this is one of them:people react twice as strongly to potential loss as they do the opportunity of equivalent or more gain. Feeling of good and horrible is part of the human mind.
‘Seen-Unseen Loss’ explains why people take threats more important over opportunities when it comes to Motivation. People think they need immediate attention, this adds another dimension of loss. If you look back into the action taken for the predicted loss is more than potential losses, but human minds still give them automatic priority.
This also tells us why that 80-90 percent of adult think it would be great idea to own their own business and work for themselves. The ‘Seen-Unseen Loss’ keeps them from acting: the threat to constant steady income, benefits and comfort zone. The best way to overcome ‘Seen-Unseen Loss’ is to ‘See-Unseen Deal’ i.e., treat it as no big deal. If have seen or heard about ‘Horse Racing’ or ‘Gambling’ is such a big deal of loss, how do think they still encourage people to play?
These win by abstracting loss, the valuables are converted into chips or coins, they are seen as less valuable. If one start seeing loss, these places provide with rewards like free drinks, upgrades in visit benefits and others. This makes the player to feel loosing is not a big deal.
How do we ensure to generate more business then? Stay tuned to know more about in one of the future article, this will be absolutely free tips!We hope you enjoyed reading this article, we welcome your views and suggestions.