![\"Thinking](\"http:\/\/snapreads.com\/magazine\/wp-content\/uploads\/2021\/03\/Thinking-Fast-and-Slow.jpg\")
<\/figure><\/div>\n\n\nThinking Fast and Slow<\/h2>\n\n\n\n
by Daniel Kahneman<\/p>\n\n\n\n
\u23f1 14 minutes reading time<\/p>\n\n\n\n
\ud83c\udfa7 Audio version available<\/p>\n<\/div><\/div>\n\n\n\n
Buy on Amazon<\/a><\/p>\n\n\n\n However, here, it\u2019s a good thing. We have millions of years of history that have honed the efficiency of our intuition. <\/p>\n\n\n\n Albert Einstein, one of the most brilliant critical thinkers of all time, once said, <\/p>\n\n\n\n \u201cThe intellect has little to do on the road to discovery. There comes a leap in consciousness, call it intuition or what you will, and the solution comes to you, and you don\u2019t know how or why?\u201d<\/p>\n<\/blockquote>\n\n\n\n Then you have minds, such as Marie Curie and Henry Ford, for example, whose analytical thinking shaped the modern world as we know it. They thought rationally, gathered the data they needed, and made logical connections between their ideas.<\/p>\n\n\n\n Analytical thinking is defined as: being able to identify and define problems; being able to extract information from data; verifying the cause of the problem. And finally, developing a solution to solve said problem.<\/p>\n\n\n\n But it\u2019s more than just breaking down data into basic principles or breaking down information into parts. It\u2019s how you approach coming to the best and most efficient conclusion. People who engage in analytical thinking are characterized as independent self-learners. Studies show they make fantastic leaders, they\u2019re masters of self-improvement, and they are always working on upgrading their knowledge.<\/p>\n\n\n\n When you look at people in STEM fields– science, technology, engineering, and math– you\u2019ll find that they lean towards analytical thinking. When they encounter a problem, they seek data and reliable information to guide them. They evaluate every potential result and payoff– for themselves and for others.<\/p>\n\n\n\n Now, just because they have years of training in an analytical thinking style doesn\u2019t mean intuition doesn\u2019t play a part. It often leads them where they need to be or it can lead them astray. So analytical thinkers do <\/em>use intuitive thinking. <\/p>\n\n\n\n On the other hand, intuitive thinkers, under the right circumstances, can think analytically.<\/p>\n\n\n\n Entrepreneurs need <\/em>intuition. Intuition is one of the most powerful tools entrepreneurs have at their disposal. <\/p>\n\n\n\n That gut feeling, that inner voice– or, if you would like, that \u201csixth sense,\u201d is what guides you through risks. When you\u2019re making a business decision, data may not be available to make a sound decision. That\u2019s where intuition comes into play. Studies have shown that a surprising number of entrepreneurs were able to build million-dollar businesses. One of the things they credit their success to? Their inner voice.<\/p>\n\n\n\n Believe it or not, but there is a science behind intuition– despite intuition being defined as \u201cthe power or faculty of attaining to direct knowledge or cognition without evident rational thought and inference.\u201d<\/p>\n\n\n\n The Psychological Science journal conducted a study where they looked for a way to add science to intuition and to find a way to measure it. The study ended up proving that intuition is something you get better at over time. They also found that people who use their intuition are able to make faster and more confident decisions.<\/p>\n\n\n\n Who else believes in the prowess of intuitive thinking? Barbara Corcoran, who was the first female shark on the show \u201cShark Tank.\u201d She says, <\/p>\n\n\n\n \u201cDon\u2019t you dare underestimate the power of your own instinct. Many entrepreneurs who ignore their instinct regret it later.\u201d<\/p>\n<\/blockquote>\n\n\n\n When venture capitalist Anthony K. Tjan was writing his book, \u201cHearts, Smarts, Guts, and Luck,\u201d he looked into and interviewed literally hundreds of successful entrepreneurs. His findings? When they started out, over 70% <\/em>of them didn\u2019t have a detailed business plan!<\/p>\n\n\n\n Renowned entrepreneurs and leaders such as Apple’s Steve Jobs are among those who credit their success to their intuition. In a speech to Stanford in 2005, he famously said, <\/p>\n\n\n\n \u201cYou have to trust in something. Your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.\u201d<\/p>\n<\/blockquote>\n\n\n\n Let that sink in. Aren\u2019t entrepreneurs supposed<\/em> to rely on data and research?<\/p>\n\n\n\n It comes down to this: isn\u2019t one of the definitions of being an entrepreneur being a \u201cvisionary?\u201d Well, those entrepreneurs didn\u2019t have a detailed business plan. But they did have a detailed vision<\/em>. After that, they started being more analytical, implementing that vision step by step. <\/p>\n\n\n\n You may be wondering how a gut feeling <\/em>could be <\/em>more important than concrete facts<\/a>? Following that gut instinct is the only way to stay true to the vision that got you started.<\/p>\n\n\n\n You\u2019ll understand the importance of intuition when you struggle with on the spot decisions that don\u2019t have \u201ccomprehensive data.\u201d <\/p>\n\n\n\n These decisions include instances such as being sure whether or not you\u2019ve picked the right business partner, for instance. How can you be sure you\u2019re hiring employees who are the best fit for your startup and vision? Should you fire that person? Should you take that risk?<\/p>\n\n\n\n These questions can be difficult to answer if you don\u2019t have a well honed intuition. <\/p>\n\n\n\n
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