Don’t Let Your Blind Spots Blindside You

Blind Spots

I’ve been reading a lot lately about blind spots.  They’re fascinating because we ALL have them! 

Blind Spots shape what we are able to “see” and therefore, pay attention to AND what we don’t see. They’re the inevitable products of the unconscious, cognitive shortcuts the human brain uses to help process the huge amounts of inputs we take in and inextricably linked to bias since they arise from these same shortcuts.   One of the most common blind spots of all is thinking that we don’t have them! 

 Why do they matter?  Unexplored, blind spots are dangerous to effective decision-making because they prevent us from seeing crucial information.  Ignorance of your blind spots can derail you and creates an unnecessary risk to high performance.  Blind spots limit opportunities, impact relationships and effect the approach we take to accomplishing our goals. 

For investors, blind spots might show up in a couple of ways:

-       The information sources you rely on – Who do you surround yourself with?  Whose inputs do you value most?  Can you articulate why this is? 

-       How you’ve designed your investment process – What kinds of information resonates for you?  What do you do when you have conflicting data?  How do you respond when a position starts to move against you?

-       Where and when you get decisions wrong?  What’s baked into your “gut”?  Is there a pattern?   When you figure this out, you’ll have identified a blind spot!

So, what can you do to manage your blind spots?  LOTS!  I often recommend that clients start with data.  Some clients like to debrief a handful of case studies with me and look for patterns; others work with an analytic tool (either available in house or purchased from one of the high-quality vendors in the market).  One of the most effective things you can do is to work with a coach who understands what you do and use an assessment tool which can illuminate likely blind spots based on your intellectual style - there are a handful of tools I find particularly valuable because they rooted in rigorous science.  We then figure out how to apply what we learned to the way you work.   I’ve had great success working with both individuals and teams. 

 This blog is drawn from terrific work done by respected researchers including: Mahzarin Banaji, Tasha Eurich, Helen Turnball and Allison Whitmire.