Learn more about problemsolving with this collection
The impact of opportunity cost on personal and professional life
Evaluating the benefits and drawbacks of different choices
Understanding the concept of opportunity cost
"If I had an hour to solve a problem and my life depended on the solution, I would spend the first 55 minutes determining the proper question to ask, for once I know the proper question, I could solve the problem in less than five minutes."
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We normally use existing methodologies and analogies to solve problems, which is essentially short-cut thinking.
Engaging in 'First Principles Thinking' makes us discard existing knowledge, and get down to the essentials, exploring on our own and questioning everything. ...
The First Principles Thinking can be applied in our daily life:
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Einstein reckoned that if he had an hour to solve a problem and his life depended on it, he’d spend the first fifty-five minutes making sure he was answering the right question.
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