The Psychology of Money - An Investment Manager\'s Guide to Beating the Market

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CHAPTER


24


“T” Is for Tools and Techniques


Determine that the thing can and shall be done, and then we
shall find the way.
—Abraham Lincoln

“T” is for tools and techniques. Improving creativity, whether
individually or in groups, requires processes. People with the best
intentions may meet to brainstorm and get minimal results. Why?
Because they don’t have clear processes to guide them through the
tough spots. One common mistake that’s already been mentioned
is allowing the idea generators and the idea evaluators to work
simultaneously. The result is usually that any new idea, especially
if it’s radical, is dismissed immediately. Common reasons for dis-
missal are “It’s too expensive,” “It’s been tried,” and “It has never
been tried.” The outcome of these meetings is usually a headache,
because two conflicting forces were undermining any progress. To
see the problem clearly, remember the last time you were in a
traffic jam that was caused by a broken streetlight. Instead of traf-
fic flowing neatly through the intersection, guided by the green
and red lights, drivers had to inch their way into the intersection,
one by one, taking forever and giving new meaning to the words
“road rage.”

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