Karma’s not (always) real (Heaven’s Reward Fallacy) | DECIDEDLY PODCAST | Sanger D. Smith

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Do you believe that doing good deeds will lead to positive outcomes for your business? This cognitive bias is known as the Heaven’s Reward Fallacy.

Years ago, a friend of mine donated a significant amount of his business’s money to a charity, hoping it would result in positive publicity for his company. However, he soon realized that this was not the case. Despite good intentions, his business didn’t see any increase in revenue or customer loyalty. 👎🏼

🧠 To avoid the Heaven’s Reward Fallacy, here are two tips:

1️⃣ Don’t assume that good deeds will always have direct, beneficial outcomes for your business. Recognize that you could be doing a good deed simply from a generous heart, with no benefit to you directly.

2️⃣ Evaluate the pros and cons of your decisions from a morally neutral framework. Don’t bank on a specific outcome.

💭 By avoiding the Heaven’s Reward Fallacy, you can make informed decisions for your business based on evidence and reason, rather than wishful thinking.
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#businessdecisions #decisionmaking #charitablegiving #businessstrategy #gooddeed