Leverage the Planning Fallacy Into a Showroom Asset

We've all heard horror stories from friends and neighbors of bath renovations gone awry. Their nightmares involved shoddy work, cost overruns, incomplete projects, time delays and unmet expectations. Why do projects fail? One reason may be a concept that Noble prize-winning economist Daniel Kahneman calls "the planning fallacy". In his book, Thinking Fast and Slow, Kahneman explains that the planning fallacy occurs when there are unrealistic expectations that do not account for the unexpected.

Anyone who claims they will deliver a perfect project should be viewed with extreme caution. There are always surprises. This is why buying an entire bath online greatly increases the consumer's risk. The key for salespeople is to anticipate potential "what ifs" as part of the planning process. Unfortunately, your client may be unaware of some businesses that offer bath renovation services but thrive on the unexpected. They make their most profit on change orders or additions to the original plan. Kahneman claims that "the failures of forecasting in these cases reflects the customers' inability to imagine how much their wishes will escalate over time. They end up paying much more than they would if they had a realistic plan and stuck to it."

Kahneman's advice underscores the benefits a professional decorative plumbing and hardware showroom provides to help turn customer dreams into realities without having to incur undue stress, unrealistic cost overruns and less than desirable time frames. The bottom line is to explain to clients the benefits they receive from you walking them through every stage of a renovation. A detailed plan saves time, money and headaches.

Avoiding the planning fallacy begins by recognizing that bath renovations involve making decisions on everything from faucets and fixtures to flooring and wall coverings and cabinet hardware. The devil is truly in the details, and that's where you can differentiate your showroom from one that is limited to taking orders or an online etailer. Take the time to explain the benefit of ensuring that all of the i's have been dotted and the t's crossed before demolition begins. Changes are difficult, time-consuming and expensive when they occur in the middle of a project. When your clients spend the time upfront, they minimize the likelihood of changing course midstream.

You should also review the existing infrastructure of your client's homes to help determine if it will be able to support any new additions that you choose. The age of a home can affect costs. Older homes may need to be rewired, re-plumbed, re-ventilated and re-engineered to meet present-day codes. Because it's almost impossible to see behind walls, recommend a contingency plan to deal with the unexpected.