Emotional Estimation Lottery Winner Trap Data vs Feelings
Emotional estimation is using your feelings to make business decisions instead of data. It has two sides: predicting how future events will make you feel, and using current emotions to judge whether something will be good or bad. About 80% of lottery winners are in worse financial condition five years after winning than before they won. The same mindset that made them think winning would solve everything is the same mindset that loses the money. Emotions are the most powerful and addictive chemicals in existence — stored in globules throughout your body's cells and triggered automatically by repeated situations. When you use emotional states to make business forecasts, you're essentially using your most biased instrument to make your most important decisions.
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Why 80 Percent of Lottery Winners Go Broke
About 80% of lottery winners are in worse financial condition five years after winning than before they won. This happens because of emotional estimation - the same mindset that made them think winning would solve everything also makes them lose the money.
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Marketing Is Scalable Sales — What That Means in Practice
Emotional estimation is using your feelings to make business decisions instead of data. It has two sides: predicting how future events will make you feel, and using current emotions to judge if something will be good or bad.
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Emotions Are the Most Addictive Chemicals Stored in Your Body
Emotions are the most powerful and addictive chemicals in existence. They're stored in globules throughout your body's cells, and when triggered repeatedly by certain situations, they create instant automatic responses.