You’re in the middle of pitching investors on your business idea, and someone brings up contradictory evidence to a claim you’ve made. Do you acknowledge it and change your mind? Or do you dig in your heels and argue that you know best? New research by Francesca Gino (featured in Inc) suggests the former will make you look smarter.
Francesca Gino, Leslie K. John, and their collaborators tested pitch competitions to see which situation fared better. They found that “Entrepreneurs who changed their minds during the pitch were almost six times more likely to advance to the final round of the competition.” The reason? “Participants perceived those who changed their minds as lacking confidence, but demonstrating intelligence.”
So the next time you’re worried about changing your mind publicly, remember that being flexible can actually work to your benefit, while being stubborn could actually have adverse effects. You can read more about the phenomenon here.
To book speaker Francesca Gino for your next speaking engagement, contact The Lavin Agency today.