1998.
As the head of marketing for a large global firm – me and my team were attempting to project the sales of a product for the coming financial year by looking at the sales volumes for past years.
The old numbers from previous years become anchors for us. These we adjusted based on other factors.
For years we had seen our seniors do the same. Sometime successful and at most times not so accurate.
This approach, while it may or may not lead to a reasonably accurate estimate, tends to give too much weight to ‘past events and not enough weight to other factors’.
In situations characterized by rapid changes in the marketplace, historical anchors can lead to poor forecasts and in turn, misguided choices.
Misguided Choices = Bad Decisions.
What worked for me then??
#Clarity worked for me.
Being future-focussed with less or no dependency on past results worked for me.
Less or minimal importance we gave to our past anchors turned out to be a game changer for us.
Clarity comes from within, and it starts with a commitment to ourselves on focusing on future events rather than past events.
For more understanding on ‘Clarity’ – download your copy today of the “5 Ways to Get Clarity in Life” guide from the link in the bio.