What are the three cognitive biases that impede our growth?
The three biases given below can make us vulnerable to poor judgment.
Lead us to not prepare well enough for growth or prevent us from becoming entrepreneurs.
The prospect theory: as the magnitude of the loss/gain increases, our capacity to feel the pain/pleasure decreases.
Consistency Bias: We never really expect the big event to happen. This is the case for market crashes, business failures, and even health issues that occur in our lives.
We avoid discomfort by seeking immediate pleasure.