Many prominent business and political leaders downplayed the pandemic in its early stages. As a result, most business owners and ordinary citizens initially perceived the pandemic as little worse than the common cold.
This initial impression cemented their beliefs about the threat posed by COVID-19… Our minds tend to fall into a dangerous judgment error called the anchoring bias, or focalism, where we give too much credit to the initial piece of information we received on a topic and perceive the rest of the information through the filter of that initial impression. That means as new information became available about the danger of COVID-19, people stuck to their initial impressions.
As a result, we tend to vastly underestimate both the possibility and impact of a disaster striking us. Moreover, we will rush to get back to normal even when we should be preparing for the aftershocks or continuation of the disaster.
So, prepare to deal with waves of restrictions and loosenings for the long haul, especially as it’s likely that the coronavirus will get worse in the fall, as weather gets colder and we spend more time indoors. Remember, even if you made some bad decisions in the past, you always have the opportunity to make better decisions going forward to survive and thrive through the pandemic.