Being overly confident is a double-edged sword. In order to curb this, we must give ourselves at least one reason why we might end up wrong.
When forming an opinion, we can ask ourselves "what would have to happen in order to prove myself or my opinion wrong?" This gives us the opportunity to analyze our opinion and the possibility of a fresh perspective.
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No matter how self-aware we are and how conscious we are in making decisions, we are still unlikely to see all of our blindspots. To help with this, forming a team of employees you trust who are willing to challenge you can help you ensure that honest feedback will be given.
Disagreeable people often give honest feedback because they operate in a psychologically safe environment where mistakes are seen as learning opportunities instead of facing repercussions.
"Your ability to rethink and unlearn matters far more than raw intelligence."
The Founder Syndrome is when one who has overgeneralized the wrong lesson when he betted against the consensus, thus admitting to themselves that they have better judgment.
The approach to take in situations stated above is to analyze the reason why we were right and why others were wrong. It is important to attribute your success to something specific instead of following your intuition blindly.
When we learn to consider our ideas, conclusions, or theories to be provisional or as something that can be changed or proven wrong later on, we are then less likely to commit to a losing strategy.
Leaders can choose to rely on Occam's razor. They can select the idea that makes the fewest assumptions. By choosing an idea that has the fewest unknowns a leader can safeguard against surprises and disasters.
Of course, the simplest solution may not be the most daring. A leader who promotes innovation won't always take the well-traveled road, but won't leave behind their map either.
The rule of awkward silence: When you are faced with a challenging question, instead of immediately attempting an answer, take your time - about 15 seconds or longer - to think deeply before you share your thoughts.
While it may feel awkward at first, it is an excellent way to build emotional intelligence - the ability to identify, understand, and manage emotions.
In a video posted on LinkedIn, Buffett said,
If you can't communicate, it's like winking at a girl in the dark--nothing happens. You can have all the brainpower in the world, but you have to be able to transmit it. And the transmission is communication.
He added that investing in developing your communication skills -- both in writing and in-person -- "can increase your value by at least 50 percent."
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