The road to success in every aspect of life, takes many concerns and efforts. Whether in a relation or or in a business, you have to know the mental tricks your mind may play against you and unconsciously.
Being a confirmation biased person is one of them which especially affects your leadership and management skills and reduces your chances of success in your profession.
If generating wealth is one of your concerns, this personality would be a killer. I have seen this very disastrous in 3 professions:
1. Business managers
A manager who seeks for confirmations from others, probably from employees, will never make through the complications of finding new solutions for problems.
A problem solving killer in your office! So if you find out someone has strong bias for getting confirmed by others, simply reconsider him/her for mid/high ranked management positions.
2. Stock traders
A trader with such behaviour will always look for investments which seem so great but ignores the negative signals and indicators, whether technical or fundamental.
It is common in human nature like a syndrome and it will lead them to justify their wrong decisions.
3. Startup founders
Startups are about being agile and innovative.
Confirmation bias will make you very slow in understanding mistakes so it will kill your organization's agility.
Also someone with such personality will stick to the present solution and model and will abandon any creativity and possible innovation to do things in a new way.
Investors do a very important research on your personality when they are considering your startup to invest or not, in a pitch or business meeting.