How can you avoid anchoring bias when setting goals?

1 Seek diverse inputs

One way to avoid anchoring bias is to seek diverse inputs from different sources and stakeholders. This can help you gain more insights and perspectives on your situation, goals, and options. For example, you can ask for feedback from your colleagues, customers, mentors, or industry experts. You can also research best practices, benchmarks, and trends in your field. By exposing yourself to a variety of information and opinions, you can reduce the impact of your initial anchor and make more informed decisions.

2 Use multiple methods

Another way to avoid anchoring bias is to use multiple methods to set your goals. This can help you test the validity and feasibility of your goals and adjust them accordingly. For example, you can use the SMART framework to make your goals specific, measurable, achievable, relevant, and time-bound. You can also use the OKR framework to align your goals with your vision, objectives, and key results. By using multiple methods, you can avoid relying on a single criterion or measure to set your goals.

3 Reframe your goals

A third way to avoid anchoring bias is to reframe your goals in different ways. This can help you overcome the limitations of your initial anchor and explore new possibilities and alternatives. For example, you can reframe your goals in terms of outcomes, processes, or behaviors. You can also reframe your goals in terms of gains, losses, or trade-offs. By reframing your goals, you can stimulate your creativity and flexibility and find new ways to achieve your desired results.

4 Review your goals

A fourth way to avoid anchoring bias is to review your goals regularly and update them as needed. This can help you monitor your progress and performance and adjust your goals based on new information and feedback. For example, you can review your goals monthly, quarterly, or annually and use data and evidence to evaluate your achievements and challenges. You can also seek feedback from others and incorporate their suggestions and recommendations. By reviewing your goals, you can avoid sticking to your initial anchor and make changes that improve your outcomes.

5 Learn from your mistakes

A fifth way to avoid anchoring bias is to learn from your mistakes and failures and use them as opportunities to improve your goal setting process. This can help you avoid repeating the same errors and biases and develop your decision-making skills and confidence. For example, you can reflect on your mistakes and failures and identify the root causes and consequences of your anchoring bias. You can also apply the lessons learned and best practices to your future goal setting process. By learning from your mistakes, you can avoid being anchored by your past and move forward with your goals.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?