Poor Judgment?

I was on hold on the phone with Energex recently – a large government owned monopolistic electricity network provider.

It was on a friday afternoon, and I thought I had quite a reasonable request for information and was being given the run around.  It was my 6th or 7th phone call to the company.

I wasn’t having any luck.

However, the resultant “recommendation” that I should write a letter to a “design” department, who could get back to me in 20 working days, for information that obviously was collected electronically and provided electronically by other similar companies over the phone – with no other options – was incredulous.

The customer services officer was rude, arrogant, condescending, sarcastic and snide.  (and that was their good points). I felt that they were deliberately giving me the slowest and most painful option.

I went home that night venting my spleen on the disappointing experiences I had with Energex.

I almost wrote an epistle here on my frustrations.

I am glad I didn’t.

The next day, when I was thinking more clearly, I reminded myself of the “top shelf” service I had received in the past from Energex from Roger Dunston – a helpful, dedicated and customer focused engineer. And the other people inside Energex who had gone beyond the “norm” to meet my requests. I realised that, although I wasn’t the most complying customer and didn’t deserve the treatment I received,  I was making a mistake in judging too soon.

Susan Boyle 100 Million YouTube Views in 2 weeks.

If you want to see the mistakes of judging too soon. You should spend  7 minutes of your life viewing Susan Boyle’s audition on the reality TV show “Britain’s Got Talent”. Click here to see this video. I recommend you do. Now. Seriously.

Here a plain looking plump Scottish middle aged homely spinster, who lives alone with a cat,  who I judged (and most people did) as not having any chance of success in any talent competition, absolutely knocks the condescending judge’s socks off, in an emotional, spine chilling, moving, uplifting 7 minute video.

It is reported that over 100 Million people have watched the YouTube video in less than 14 days. She’ll have millions of dollars, triple platinum record sales and a sold out world wide concert tour by Christmas.

What Do I  Believe that is actually False?

Are we making mistakes in our snap judgments? Are we taking the wrong short cut in making evaluations too soon? Are we missing out on exceptional opportunity by following the crowd?.

Ken Fisher in his book “The only 3 questions which count – investing by knowing what others don’t”, asked this question. (which is one of the 3 questions).

“What do I believe that is actually false?”

We make judgments  and decisions based on the belief that bad companies give bad customer service. Or outstanding singers, should be young, slim and rich. We have a preset of biases, and beliefs that have been formed by our own experiences, the media, our family and colleagues. But are these biases causing us to miss the once-in-a-lifetime opportunity, that rolls around every month or two?

His point being that  true bargains are only found when others don’t think they are. The seller is wanting to offload a “dog”, when the bargain buyer knows it is a “jewel”.

Perhaps one bad experience at customer service has biased you not to receive great products.

Success in these times.

I believe that these are the most exciting times to be in business. The Global Financial Crisis has scared people, made them irrational, and causes them to sell and dispose of assets way below their true value.

To seek and take advantages of these opportunities, we shouldn’t judge quickly – nor take the advice of the “crowd”. Look and seek for the true opportunities that currently abound, by not being influenced by others and thinking rationally.

Until Next Time.