#116: Mental Models for Business Owners

Live Well, Earn Well: for Coaches & Consultants

Understanding the world around us involves adopting mental models/frameworks, which serve as thought processes that enable us to visualize how things work in reality. These mental models play a crucial role in assisting business owners to reason through challenges and make informed decisions.

In this episode, Dr. Terri Levine unravels the concept of mental models/frameworks, shedding light on what they are and the advantages of adopting them as a business owner.

She shares examples of using incorrect mental models, emphasizing the importance of choosing the right framework for optimal outcomes. Drawing from the book ‘Breakthrough Advertising,’ she breaks down the 5 phases of a mental model, providing a roadmap for understanding and implementing these powerful tools effectively.

Finally, she introduces us to the CRIBS framework, a valuable tool that will revolutionize your perspective on customer engagement.

Key Highlights From The Episode:

[00:40] Today’s theme: Using mental models and frameworks

[00:45] What’s a mental model?

[01:03] Advantages of having a mental model/framework

[03:25] Examples of using incorrect mental models

[04:20] The 5 phases of a mental model, as discussed in the book ‘Breakthrough Advertising.’

[06:25] Why your prospects and customers don’t actually care about your products or your competitors’ products

[07:37] Dr. Terri Levine’s CRIBS framework

Golden Nuggets:

• A mental model is a thought process; it’s a way that you can visualize how things work in reality. [00:45]

• Mental models and frameworks help us simplify complex concepts and enable us to reason through them so we can make better decisions as business owners. [01:26]

• Your prospects and your customers don’t actually care about your products or your competitors’ products; they care about outcomes. [06:25]

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