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
Using The First Principles Thinking
The First Principles Thinking can be applied in our daily life:
- Starting a business requires first principles thinking to build a fundamentally better product or service.
- On a busy day, first principles thinking makes us do what's essential while not being bogged down with time constraints.
- Applying the first principles toward good health will make us feel considerably better than obeying some diet or exercise routine that we hate.
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First Principles Thinking
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. ...
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Solving Difficult Problems
- Take moment and think of a problem bugging you and write all the reasons you think the problem is difficult to solve.
- With each of the reasons, self-verify by questioning yourself to see if it is valid or not.
- Keep asking yourself till you get to the root
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"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."
ALBERT EINSTEIN
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Practical ways to use First Principles Thinking
- If you’re starting a business, use first principles to build a product or service that’s fundamentally better than the competition.
- If your day is too busy, first principles thinking could help you get everything done in less time and with less stress.
- If you...
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