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8 Ways That You Can Think Outside The Box Like Freakonomics

8 Ways That You Can Think Outside The Box Like Freakonomics

Sometimes, the most unusual of collaborations can produce the most spectacular results. This was certainly the case in 2005, when author Stephen J. Dubner and economist Steven D. Levitt joined forces to co-author the ground-breaking work Freakonomics. This book, which sold a staggering 5.5 million copies in more than 40 languages, was the first in a series that has combined unique and personal narratives with unconventional analysis to explore the benefits of innovative thinking.

The Freakonomics series has created a blueprint for thinking outside the box, and encouraged loyal readers to identify entirely new methods of solving their problems. Whether these relate to major global reforms or the issues that complicate everyday life, Dubner’s and Levitt’s literature has revolutionized thought processes and changed the boundaries of possibility for citizens from across the land.

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    With this in mind, what are the pivotal lessons that can be taken from the Freakonomics series and how can they be applied in your everyday life? Let’s consider the following 8 ways you can think outside the box like Freakonomics.

    1. You can say ‘I Don’t Know’

    A common theme that has ran throughout the Freakonomics series is that the majority of issues are more complex than they initially seem. We do not generally acknowledge this fact which subsequently creates a learning gap that can affect us negatively as we grow older. This is why the latest book in the series, Think like a Freak, has dedicated an entire chapter that encourages individuals to say ‘I don’t know’ on a more frequent basis and open up their minds to new information and understanding. This is particularly important when discussing environmental issues, as Dubner claims that such an outlook would prevent individuals from “getting on one side of the debate and digging in their heels” without a comprehensive understanding of the topic in question.

    2. You can think Small and Still Succeed

    This taps into another prolific section of the Think like a Freak book, which implores readers not to abandon their childlike instincts as they enter adulthood. After all, it is the child’s capacity for open-mindedness and curiosity that makes them able to absorb information in their infancy, while their ability to think small and without inhibition also enables them to conceive viable solutions for problems. The concept of simple and uninhibited thinking has been embodied by the brand Pokerstars, which employed hard working and renowned sporting legends such as Ronaldo and Rafael Nadal as brand ambassadors as a way of driving recognition, challenging existing misconceptions and transcending the industry in which they operate. By selecting a relatively simple and bold solution to a problematic marketing issue, the brand embraced childlike instincts to achieve success.

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    3. You can live with Risk Easier than Regret

    While it may be argued that bold and simplistic decision making can incur risks, this is not necessarily something that should be feared. One of the most persuasive arguments of the whole Freakonomics series is that risk represents an easier burden to carry than regret, as the latter occurs as a result of failing to take a chance due to fear or an innate sense of inhibition. This can only ever create uncertainty and leave you wondering what might have been, and while risk takers may ultimately succeed or fail they have a clear conscious and the knowledge that they have at least tried to achieve their goals. So when making a decision, it may be worth re-evaluating the process and considering which option you would end up regretting if you failed to take it.

    4. You Can Flip a Coin to make Important Decisions

    For complex decisions that also affect others, such as relocating or changing careers, your thought process is likely to be even more confused and convoluted. In these instances, flipping a coin can be an excellent way of helping you to achieve clarity and choose a finite path. This theory was tested on a website called Freakonomics Experiments, which invited visitors to share their dilemmas and offered to flip a coin on their behalf. While this may seem fanciful, more than 40,000 visitors have taken the plunge and many found that they were more content when the coin encouraged them to follow a particular path. In contrast, others choose to ignore the coin toss as they instinctively believed the call to be wrong for them. It is therefore clear that the result of the coin toss is inconsequential, as the intuitive sense of clarity and insight that it brings enables individuals to make an informed decision.

    5. You can conduct a ‘Premortem’ when considering Options

    There is a fine line between thoughtfulness and over analysis, and it is important to achieve a balance when making decisions. This is something that is considered in detail in Think like a Freak, where the authors reference a theory forwarded by leading psychologist Gary Klein. Using something that he refers to as a “premortem“, it is possible for individuals to give careful consideration to their upcoming decision in a way that creates clarity rather than confusion. More specifically, by thinking ahead into the future and imagining that your decision has produced little but abject failure, you can pinpoint exactly where issues are likely to occur and how easy it will be to avoid them. This will enable you to develop a balanced view of the risks involved, before determining whether or not it is a decision that should be delayed or discarded in favour of an alternative option.

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    6. You can disregard the Majority of Conventional Wisdom

    In Freakonomics, the authors discussed the concept of conventional wisdom at length and concurred that it is generally either wrong or biased towards the views of the writer. The main reason for this, they argue, is that the experts who generate conventional wisdom are inclined to use their knowledge and informational advantage to articulate their own agenda or express an informed opinion. It can also be used to create sensationalism regarding a social or political issue, and Freakonomics uses the example of drug dealers to make its point. While experts present the illicit drug trade as being extremely immoral and driven by individuals who generate huge financial gains, for example, in reality it is little more than a capitalist enterprise where the majority of workers earn less than the minimum wage. This is something to bear in mind when evaluating information and it reinforces the importance of developing knowledge and forming your own, unique opinions.

    7. You can be sure that Correlation does not Always Mean Causation

    As the Freakonomics series has continued, the authors have moved away from their economic basis and focused more predominantly on social science. This is reflected in one of their core principles, which is that correlation does not directly imply causation. It is a common misconception that when two variables change in the same manner at the same time, one is automatically responsible for triggering this evolution. This is not the case, however, and despite this being a fundamental finding of social scientific research it is often ignored. In any case where two or more variables in your life begin to change simultaneously, it is always worth addressing the circumstances on their own individual merit and identifying any other factors that may be responsible.

    8. You can become too Preoccupied with End Results rather than the Process of Achieving them

    The Freakonomics brand is now huge, and includes Dubner’s radio show in addition to a blog, film and additional literature. Dubner references his own radio show in the most recent book, and says that he is often disturbed at how fans evaluate an event or debate and “look at its conclusion rather than the process of getting there“. To illustrate this, he presents the example of a discussion where it was suggested that hitting a pedestrian with a car has surprisingly few consequences in the modern world. This was met with acclaim by pedestrian advocates, despite the fact the same demographic had criticised Dubner for suggesting that “drunk walking” may be a huge factor in the rate of automotive accidents. In short, we have a tendency to celebrate occasions where people reach similar conclusions to ourselves, without considering the discussion in its wider context and the process of arriving at such an assertion.

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    Featured photo credit: Suzi Duke via flickr.com

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    Last Updated on January 24, 2020

    10 Good Habits To Have in Life To Be More Successful

    10 Good Habits To Have in Life To Be More Successful

    Habits are behaviors and patterns that you showcase by default. They enable you to carry out crucial activities like taking a shower, brushing your teeth, getting prepared for work.

    Interestingly, you follow this routine every day without considering them. Your unconscious habits create room for your brain to perform more advanced activities like problem-solving and choosing what book to read.

    Everyone has habits, and several of those habits are activated every day. I would classify them into three groups:

    • The first category includes the habits that you hardly notice as they have become a major part of your life- such as brushing teeth or wearing clothes.
    • The second category comprises good habits to have to be more successful-like eating healthily, exercising your body and reading books.
    • The last group consists of those habits that are harmful-like procrastinating, smoking or overeating.

    Habits are fundamental to becoming successful in life — or probably ending up a failure. Yet, as significant as habits are, some lack the knowledge of their capabilities.

    Habits are default activities that you engage in without giving an afterthought. They are automatic behavioral or mental activities. They help you carry out some actions without exerting too much energy. They simplify your life.

    Several people aspire to break bad habits. For instance, some people diet to stop overeating. They exercise to reduce obesity. Habits can hinder or impact your performance and productivity.

    That’s why I would share 10 good habits to have to be more successful in life.

    1. Begin Your Day with Meditation

    I recommend mindful meditation early in the morning. This practice helps you to be in the present moment. Consequently, it enables you to be mindful of challenging situations during the day.

    Different stressors may trigger as you go through the day; meditation helps you to remain calm before taking on the challenges.

    Personally, it helps me to devise strategies and think about ideas. Meditation is a good habit to have if you want to be connected to what’s significant in your life.

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    2. Be Grateful for What You Have

    Sometimes, you waste time thinking of what’s not enough. You become immersed in those daunting challenges. However, challenges justify the presence of hope. When you have life, you have expectations. You will be free from challenges when you are six feet under. The only strategy you have to stop focusing on your problems is to focus on what you have.

    Gratitude is a time-tested pathway to success, health, and happiness. It redirects your focus to what you have from what you lack. Here’s what James Clear does every day,[1]

    “I say one thing I’m grateful for each day when I sit down to eat dinner.”

    3. Smile

    Can you pause and smile before you continue reading this?

    Now here is what just happened based on research conducted by the Association for Psychological Science; you set a pace for living a happier life when you smile. A genuine smile or what’s called a Duchenne smile is a good habit to have if you want to find spiritual, emotional and mental peace of mind.[2]

    Smiling induces the release of molecules that function towards fighting stress. The physiological state of your body determines the state of your mind. When you slouch or frown, your mind takes cues relating to unhappiness and depression. But, once you adjust yourself by putting up a smile, you begin to feel a new level of excitement and vibrancy.

    Can you smile again?

    4. Start Your Day with a Healthy Breakfast

    Starting your day with a healthy breakfast is a good habit to have and forms a crucial part of your life. Nevertheless, about 31 million Americans skip their breakfast each day.[3]

    If you are fed up hearing that breakfast is a crucial component of your day, you are only fighting the truth. If you want to become more successful, you need to ‘break your fast’ with healthy foods every morning.

    This habit is not difficult to form if you usually rush out the door every single morning. You can wake up earlier to fix yourself a meal so you don’t break down during the day.

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    Get inspired by these 20 Healthy Breakfast Choices That Will Save You Time.

    5. Exercise Daily

    One of the good habits to have is to exercise your body and muscles every day. You don’t have to run a marathon or lift a weight. You only need to engage in less strenuous activities that oxygenate your blood and inject endorphins in your body.

    Jack Dorsey, the CEO of Twitter, classified exercise as a good habit to maximize his already jam-packed schedule.[4] He said,

    ‘I wake up by 5, meditate for 30 minutes, seven-minute workout times three, make coffee, and check-in.’

    He said on Product Hunt that he follows this routine every day as it gives him a steady-state that empowers him to be more productive.

    6. Manage Your Time as You Manage Your Finance

    Another good habit is the act of managing your time effectively. This goes a long way to impact your achievement.

    Time management is what separates the successful from the rest of the world as we all possess the same amount of time. How you leverage time determines your potential to succeed in life.

    So how do you manage your time effectively?

    Here’s Jack Dorsey’s recommendation in one of the Techonomy events;

    “I accomplish effective time management by theming my days and practicing self-discipline. These themes help me handle distractions and interactions. If a request or task does not align with the theme for that day, I don’t do it. This sets a cadence for everyone in the company to deliver and evaluate their progress”.

    And this is Dorsey’s weekly theme:[5]

    • Monday – Management
    • Tuesdays – Product
    • Wednesday – Marketing and growth
    • Thursdays – Developers and partnerships
    • Fridays – Culture and recruiting
    • Saturdays – Taking off
    • Sundays – Reflection, feedback, strategy, and preparing for Monday

    No wonder he was able to run two companies when others were struggling with one job.

    7. Set Daily Goals with Intentions

    Everyone has goals. It may relate to business or personal life. The truth is, we’re all tending towards a particular direction or another. Nevertheless, while long-term goals can offer you direction, it’s your daily goals that you establish that help you develop short-term goals that are essential for your success.

    Long-term goals may not give you the motivation you need to keep on. But when you implement your short-term milestones daily, you become fired up, and you can overcome the challenges that come with taking on bigger tasks.

    Here’s the main truth:Successful people don’t set goals without establishing their intentions. According to Jennifer Cohen of Forbes,[6]

    “What helps you to achieve your desired expectation is ensuring intentions accompany your daily goals.”

    Be intentional about your daily goals!

    8. Seek Inspiration

    It is usually difficult to be inspired for a considerable length of time. Sometimes, you become discouraged and feel like giving up on your goals when things are not working out as intended.

    A practical approach to stay on top of the situation is to inspire yourself each day. When you wake up in the morning after meditation, watch some motivational videos, and let the story of great leaders inspire you.

    Establish what Anthony Robbins called the ‘hour of power.’ Determine how many minutes you spend but make it count. Inspiration is the fuel for achievement because when you can conceive it in your mind, you can accomplish it.

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    Michal Solowow, an investor and the founder of Mitex, a construction company puts it this way,[7]

    “The problems I encounter in everyday life motivates me to find solutions. This is a self-propelling mechanism. becoming a billionaire was never a motivating factor.”

    9. Save Steadily, Invest with All Prudence

    I can exhaust the good habits to have without talking about saving and investing. Most times, you overlook the significance of saving for the future when you are living in your present moment. According to CNBC, a $1000 emergency will propel several Americans into debt.[8]

    However, it is not enough to save, and you must invest your fund and be wise with it. If you pay attention to this now, you will set yourself for a life of success in the future. Ensure you save at least six months in your emergency account so you can be prepared for any future emergency.

    10. Budget and Track Your Spendings

    Benjamin Franklin warned of taking the precaution of little expenses. He said,

    “A small leak sinks a great ship.”

    It is easy to discard little expenses, but the truth is they always add up. This happens when you fail to budget.

    Budgeting is a good habit to have, which can impact your financial life significantly. The money you spend on extravagant lifestyles can be saved and invested in your future.

    The Bottom Line

    Endeavor to cultivate these good habits to have to become more successful as you journey through life. The quicker you cultivate them, the faster you achieve your goals.

    More About Habits

    Featured photo credit: Andrijana Bozic via unsplash.com

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    Reference

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