The Socratic method is an effective way to stimulate critical thinking. It involves asking and answering questions to expose underlying assumptions and logic. Start by asking open-ended questions, proposing ideas, and probing them with progressive questioning. Challenge assumptions and evaluate evidence. Understand the consequences of being wrong and consider alternative beliefs. Socratic questioning is a valuable exercise for high stakes decisions.
A Stanford business professor split her class into groups and gave each group $5 and 2 hours to generate as high of a return as possible. The losing groups bartered with the $5 or used the time to generate income. The winning group sold the ad space of the presentation time at the end of the challenge and generated a 12,000% return.
When faced with a challenge with the potential for outsized rewards, we need to think differently. Three steps to think differently: (1) Avoid the distraction, (2) Ask foundational questions, and (3) Select the leveraged approach.
Remember: Creative, non-linear, asymmetric thinking generates creative, non-linear, asymmetric outcomes.