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You're an entrepreneur looking for the next big opportunity. How can you use critical thinking to find it?

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As an entrepreneur, you have a vision, a passion, and a drive to create something valuable and innovative. But how do you find the next big opportunity that matches your skills, interests, and goals? How do you avoid wasting time and resources on ideas that are not viable, profitable, or sustainable? How do you make smart decisions that will help you achieve your desired outcomes? The answer is critical thinking.

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Joshua Suulola ??

The Rescuer for Top Leaders who have achieved it all yet feel unfulfilled | Teacher of teachers | Leadership Strategist…

1 What is critical thinking?

Critical thinking is the ability to analyze, evaluate, and synthesize information from various sources and perspectives, and to apply logic, reasoning, and evidence to solve problems and make judgments. Critical thinking is not just a skill, but a mindset that helps you question assumptions, challenge biases, and seek clarity and accuracy. Critical thinking is essential for entrepreneurs, as it enables them to identify opportunities, assess risks, and design solutions that meet the needs and expectations of their customers and stakeholders.

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Joshua Suulola ??

The Rescuer for Top Leaders who have achieved it all yet feel unfulfilled | Teacher of teachers | Leadership Strategist | Certified Learning Facilitator (CLF)
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Critical thinking is engaging in an intentional brain-storming session to uncover subsurface truth for; - Executable decisions - Analysis, estimates and projections Critical thinking works on the basis of "bias-free" assessments and are usually done when multiple narratives exists and a single line of action is needed.

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2 How to use critical thinking to find opportunities?

As an entrepreneur, one of the first steps to finding opportunities is to identify problems that need to be solved or gaps that need to be filled in the market or society. To do this, critical thinking is essential, and you should research and understand the current situation, existing solutions, and potential customers. Ask yourself questions such as what are the pain points, frustrations, or unmet needs of your target audience? What trends, changes, or developments affect your industry or niche? What are the strengths, weaknesses, opportunities, and threats of your competitors or alternatives? What assumptions, beliefs, or misconceptions influence your perspective or your customers' behavior? And what facts, data, or evidence support or contradict your hypotheses or claims? By asking these questions and generating insights, ideas, and hypotheses you can discover new or improved ways of solving problems and creating value.

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Joshua Suulola ??

The Rescuer for Top Leaders who have achieved it all yet feel unfulfilled | Teacher of teachers | Leadership Strategist | Certified Learning Facilitator (CLF)
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Using the 4W1H method; - What - When - Where - Why - How, Opportunities exists on the other side of ignorance. And the cure for ignorance is knowledge. Answers exist in the depth of surface truth and it takes intentional "excavation" - critical thinking, to get to it. Critical thinking uses methods, models, principles and data comparison to establish a defined truth. This is done by looking through potential and existing loopholes, variations and opportunities for improvement. These in turn creates opportunities in areas of stagnancy and opens you up to already existing opportunities that may not have been visible on a surface level.

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3 How to use critical thinking to evaluate opportunities?

Once you have a list of possible opportunities, it is essential to use critical thinking to evaluate them and select the most promising ones. When doing so, it is important to test your assumptions, validate your hypotheses, and measure your results. Ask yourself questions such as: how feasible, viable, and desirable is your solution? How does your solution compare to the existing solutions? Does it meet the needs and expectations of customers and stakeholders? Is it scalable, sustainable, and profitable? What are the risks, uncertainties or challenges that need to be overcome or mitigated? By asking these questions, you can refine, iterate, and improve your solution while eliminating or pivoting away from those that are not working.

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4 How to use critical thinking to design opportunities?

As an entrepreneur, the final step to finding opportunities is to use critical thinking to design your solution and business model. Ask yourself questions such as what are the goals, objectives, and metrics you want to achieve? What is the value proposition, customer segments, channels, revenue streams, and cost structure of your business model? What resources, activities, and partnerships do you need to deliver your solution and business? What assumptions, hypotheses, or experiments need to be tested and validated? What feedback, data, or evidence do you need to collect and analyze? By asking these questions, you can create, communicate, and deliver your solution and business in a clear manner.

Finding opportunities as an entrepreneur is a challenging endeavor that requires critical thinking. This type of thinking can help you find opportunities that are aligned with your vision and passion while creating value for customers and stakeholders. Ultimately, critical thinking can help make you a better entrepreneur and problem-solver.

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5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Joshua Suulola ??

The Rescuer for Top Leaders who have achieved it all yet feel unfulfilled | Teacher of teachers | Leadership Strategist | Certified Learning Facilitator (CLF)
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Critical thinking works best with; - A known motive - A bias-free approach - An excellent and reliable data analyzer - Experience in data comparison and inference In all, remember that it is a journey to an existing truth that is either hidden in the obvious or established in deeper search.

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You're an entrepreneur looking for the next big opportunity. How can you use critical thinking to find it?

1

2

3

4

5

1 What is critical thinking?

2 How to use critical thinking to find opportunities?

3 How to use critical thinking to evaluate opportunities?

4 How to use critical thinking to design opportunities?

5 Here’s what else to consider

Critical Thinking

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You're an entrepreneur looking for the next big opportunity. How can you use critical thinking to find it?

1

2

3

4

5

1 What is critical thinking?

2 How to use critical thinking to find opportunities?

3 How to use critical thinking to evaluate opportunities?

4 How to use critical thinking to design opportunities?

5 Here’s what else to consider

Critical Thinking

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