Being honest could make you more money (here's proof) | Mel Robbins #Shorts

How do you sell the benefit of being more open and what you call oversharing — to somebody? Yes. — Who is just in your class to get ahead? What is the real benefit of that? — Yes. — The way I start is by speaking their language. So I teach a lot of executives and what I do is I start by showing them in business contexts how this first of all this is crass maybe I am a business school professor how it helps them make money. — Yep. — And then I show — Wait so if you share more you make more money. — So the example I give there I know what as a company. So when we reveal when we share more, when we open up, when we reveal slightly sensitive things, it causes whoever we're revealing to trust us more. — And the same is true in companies. When companies reveal more, it causes their tr and I don't use the word cause lightly, right? These are randomized experiments. It causes their c customers to trust them more and to buy more. So we've done studies with like the largest bank in Australia for example where with my colleague Ryan Bule where somehow we convince them to on their credit card website. So when you're going and looking for a credit card on their bank, what we convince them to do is half of the time to reveal reasons why you might not want the credit card. So, like pay attention, the fees are really high or the points aren't great or whatever, the high interest rate. Like drawing attention, basically saying don't buy this. But that's a form of sensitive disclosure, right? And what did that do? It actually it did not scare people away. It didn't decrease um customer acquisition and it increased retention. The experiment alone made the bank millions of dollars and then they rolled it out and then their competitors copied them. So that's where I start and then I go into leadership and there I go into how when you're a leader revealing a little bit more than you think you should and I take them through I first get them to craft a little self- introduction. I say imagine you're about to introduce yourself to a group of new hires. What would you say about yourself? And then I say raise your hand if you had any negative traits in that crickets. And then I said, we did a study with actual managers where we randomized them to either do what you did and not share weaknesses or some of them planted put a few weaknesses in. And then we ask the employees who they want to work for. for the person that has the weaknesses. They don't think the employer is incompetent. They just trust them more and they want to work for them.