Functional fixedness is a cognitive bias that limits a person to use an object only in the way it is traditionally used. This bias limits the ability of an individual to use components given to them to complete a task, as they cannot move past the original purpose of those components. For example, if someone needs a paperweight, but they only have a hammer, they may not see how the hammer can be used as a paperweight. Functional fixedness is this inability to see a hammer's use as anything other than for pounding nails; the person couldn't think to use the hammer in a way other than in its conventional function.
When tested, 5-year-old children show no signs of functional fixedness. It has been argued that this is because at age 5, any goal to be achieved with an object is equivalent to any other goal. However, by age 7, children have acquired the tendency to treat the originally intended purpose of an object as special. #FictionalFixidness
The Ben Franklin effect is a proposed psychological phenomenon: a person who has already performed a favor for another is more likely to do another favor for the other than if they had received a favor from that person. An explanation for this is cognitive dissonance. People reason that they help others because they like them, even if they do not, because their minds struggle to maintain logical consistency between their actions and perceptions. #CognitiveBiases
So much of your impact at work and personal life depends on your ability to pick the right battles to fight.
Yet, much of what we learn from school and books is about “HOW TO WIN $BATTLE_X?” instead of “SHOULD YOU FIGHT $BATTLE_X?” #twitter
Currently reading Principles by Ray Dalio, which is divided in four prats. Part 1 is about purpose and importance of having. Part 2 explains Ray's most fundamental principles that apply to everything he does. Part 3 explains Rays's management principles as applied in Bridgewater. Part 4 is about investment principles. #principlesraydallo
The media is presenting the startups in the wrong way which makes everyone think they need to make billion dollar companies or die 💀 trying. It will be great 👍 they say. But it probably sucks. You probably wont get rich as the odds of VC 👺 funded startup are fundamentally stacked against you. Only a handful exit and founders generally make any money. #makebook
Most people’s advice is basically survivorship bias. What worked in one situation may not work in other situations and its more true for startups. You don’t learn much about startup or businesses by reading but rather by doing. #makebook
👼 Be ethical in whatever you do. Don’t cut corners. Don’t spam your customers, don’t manipulate users in doing stuff, growth hacking your search rankings or faking social media. If you make mistakes owe them and say sorry. Be a nice person and a company. Just being ethical and nice is a competitive advantage as most companies (or people) are not. #makebook
💰 Monetize from start by asking your users for money. Don’t sell their data. Don’t put ads everywhere. Don’t dilute your product. Be honest that you need money to build the product they love and they will be fine paying for it. #makebook
🌱 Grow organically. Use word of mouth from happy customers to reach new audience/users. Dont spend money on ads. Dont hire if there is no revenue yet. Dont hire too many people if you have some revenue. Stay lean and fast and do things yourself. #makebook
🚀 Launch early and launch multiple times on famous startup sites like Product Hunt, Hacker News, The Next Web, and mainstream sites like Reddit and Forbes. Don’t forget to launch to your specific audience on other forums. Launch in a friendly way like “Show Reddit: Here is something I made that maybe useful to you”, instead of acting and sounding like a big giant new startup coming to change the world. Checkout submit.co to see where to submit your launch to reach audiences! #makebook
💡Idea: Get an idea from your own life. If you dont have ideas become more original person by traveling, reading books you haven’t read before or meeting new people. Don’t build products that are solutions in search of a problem. #makebook