6 Most Common Thinking Mistakes Holding You Back
Killer Innovations with Phil McKinney
Release Date: 03/19/2024
Killer Innovations with Phil McKinney
In 2005, I had a ten-minute conversation at San Jose Airport that generated billions in revenue for HP. But here's what's fascinating: three other HP executives heard the exact same conversation and saw nothing special about it. If you read Monday's Studio Notes, you know this story from the emotional side—what it felt like to have that breakthrough moment, the internal resistance I faced, the personal transformation that followed. Today I'm delivering on my promise to give you the complete tactical methodology behind that insight. I'm going to show you the systematic framework I call...
info_outlineKiller Innovations with Phil McKinney
In October 1903, The New York Times published an editorial mocking the idea of human flight, stating that a successful flying machine might take "from one to ten million years" to develop through the efforts of mathematicians and engineers. Eight weeks later, on December 17, 1903, the Wright brothers achieved the first powered, controlled flight over the beaches of Kitty Hawk, North Carolina, proving the skeptics wrong. The smartest people in the world got this catastrophically wrong. What does that tell us about impossibility itself? Every industry has billion-dollar opportunities...
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Your best innovation ideas aren't losing to bad ideas – they're losing to exhaustion. I know that sounds counterintuitive. After 30 years of making decisions at HP and CableLabs, I thought I understood why good ideas failed. Market timing. Technical challenges. Resource constraints. Sometimes that was the case … but most of the time, I was wrong. We've created an innovation economy that's too innovative to innovate. And if you're wondering why your breakthrough ideas keep getting ignored, dismissed, or tabled "for later review," this video will show you the real reason. I'm going to...
info_outlineKiller Innovations with Phil McKinney
A software engineer grabbed a random word from a dictionary – "beehive" – and within hours designed an algorithm that saved his company millions. While his colleagues were working harder, he was thinking differently. This breakthrough didn't come from luck. It came from lateral thinking – a systematic approach to finding solutions hiding in plain sight. I'm Phil McKinney and welcome to my Innovation Studio. In this episode, we will cover the lateral thinking framework. Not theory – a practical, step-by-step system you can use immediately. You'll try your first technique in the next...
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The most popular piece of innovation advice in Silicon Valley is wrong—and it's killing great ideas before they have a chance to succeed. I can prove it with a story about a glass of water that sat perfectly still while a car bounced beneath it. My name is Phil McKinney. I spent decades as HP's CTO making billion-dollar innovation decisions, and I learned the hard way that following "fail fast" advice cost us billions and robbed the world of breakthrough technologies. Today, I'm going to share five specific signs that indicate when an idea deserves patience instead of being killed...
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The $25 Million Perfect Presentation Picture this: You're in a conference room with 23 executives, everyone has perfect PowerPoint presentations, engineering milestones are ahead of schedule, and you're about to sign off on a $25 million bet that feels like a sure thing. That was the scene at HP when we were developing the Envy 133—the world's first 100% carbon fiber laptop. Everything looked perfect: engineering was ahead of schedule, we projected a $2 billion market opportunity, and the presentations were flawless. Six weeks after launch, Apple shifted the entire thin-and-light laptop...
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Every breakthrough innovation starts the same way: everyone thinks it's a terrible idea. Twitter was dismissed as "breakfast updates." Google looked "too simple." Facebook seemed limited to "just college kids." Yet these "stupid ideas" became some of the biggest winners in tech history. After 30 years making innovation decisions at Fortune 100 companies, I've identified why smart people consistently miss breakthrough opportunities—and how to spot them before everyone else does. Why Smart People Miss Breakthrough Ideas The problem isn't intelligence or experience. It's that we ask the wrong...
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In 2011, HP killed a $1.2 billion innovation in just 49 days. I was the Chief Technology Officer who recommended buying it. What happened next reveals why smart people consistently destroy breakthrough technology—and the systematic framework you need to avoid making the same mistake. HP had just spent $1.2 billion acquiring Palm to get WebOS—one of the most advanced mobile operating systems ever created. It had true multitasking when iOS and Android couldn't handle it, an elegant interface design, and breakthrough platform technology. I led the technical due diligence and recommended the...
info_outlineI've been reflecting a lot lately about common thinking mistakes. Yes, you heard me right. It's a bit of a mind-bender. But trust me, this is going to be worth your while.
We all have unique ways of perceiving the world. Sometimes, however, these perspectives can lead us astray. We may fall victim to thinking mistakes that impede our growth and success.
Today, I want to unveil the six most common thinking mistakes that hinder people's progress. Removing these pitfalls can enhance your decision-making, communication skills, and overall mindset.
And let me assure you, I'm speaking from personal experience here. I used to make these thinking mistakes all the time, but once I became aware of them, I overcame them and achieved greater success in my personal and professional life.
So, as we explore these common thinking mistakes, remember, it's not about striving for perfection or avoiding them altogether. It's about recognizing and learning from them to refine our thinking and unleash our full potential continuously.
1. Confirmation Bias
Ever catch yourself solely paying attention to information that confirms what you already believe? That's confirmation bias in action. It's like attending a concert and only hearing the songs you already know and love. The unfamiliar tunes? They fade into the background.
In innovation, this manifests as a reluctance to consider new ideas or information that challenges our existing beliefs. Some may label this as "Not Invented Here" (NIH). But here's the kicker: innovation thrives on diversity of thought and challenging the status quo. So, I challenge you to actively seek diverse perspectives and be receptive to changing your mind.
2. Overgeneralization
This occurs when we extrapolate one or two instances to an entire category. Have you ever had a negative experience with a particular type of food and then sworn it off for life? That's overgeneralization.
The same applies when you hear about an idea that failed for someone else and automatically assume it won't work for you, either. Such thinking can constrain our potential and inhibit us from exploring new opportunities.
To avoid this mistake: Remember, one instance does not define an entire category.
3. Catastrophizing
Catastrophizing involves envisioning the worst possible outcome of an event. It's like hearing a riff in a song you dislike and suddenly predicting the band's inevitable downfall.
But here's the reality: catastrophes rarely materialize. And even if they do, we often possess greater resilience and capacity to handle them than we give ourselves credit for. Don't let the fear of failure deter you from taking risks and exploring new avenues.
To avoid this mistake, Endeavor must maintain perspective. A single sour note doesn't ruin the entire composition.
4. Emotional Reasoning
This transpires when we allow our emotions to shape our interpretation of reality. It's akin to letting a lousy mood dampen your enjoyment of an excellent rock concert.
Innovation may entail dismissing ideas because they don't "feel" right or align with our current emotions. However, feelings do not equate to facts. Don't allow emotions to cloud your judgment. Instead, objectively analyze the idea and assess its potential regardless of your feelings.
To avoid this mistake, Differentiate between emotions and facts. Just because you're not in the mood for rock doesn't imply the band is performing poorly.
5. Black-and-White Thinking
This occurs when we perceive situations as either one way or another, devoid of any middle ground. It's akin to categorizing a song as a hit or a flop, with no room for nuances.
Innovation may entail dismissing ideas because they don't conform to preconceived notions of success. However, success seldom adheres to black-and-white parameters. It's nuanced, with numerous shades in between. Embrace the complexities and be receptive to unconventional ideas.
To avoid this mistake, Embrace the nuances. Not every melody can top the charts, and that's perfectly acceptable.
6. Thinking Traps
These are ingrained patterns of thinking that we inadvertently fall into. They may include jumping to conclusions, making unfounded assumptions, and disregarding contradictory evidence.
Critical thinking and recognizing when we're ensnared in these traps are necessities for innovation. Therefore, step back, pause, and objectively evaluate the situation before concluding.
To avoid this mistake, Be mindful of your thinking patterns and proactively challenge them.
Again, the list of the six common thinking mistakes are:
1. Confirmation Bias
2. Overgeneralization
3. Catastrophizing
4. Emotional Reasoning
5. Black-and-White Thinking
6. Thinking Traps
Why Does The Human Mind Make These Mistakes?
You may be wondering why our minds succumb to these mistakes. Our brains wire themselves to take shortcuts and simplify complex information. While this may have served us well in the past for survival, it can impede us in critical thinking and making sound decisions.
However, acknowledging these common thinking mistakes and actively striving to overcome them can retrain our brains to think more critically and efficiently. So, the next time you catch yourself falling into one of these traps, view it as an opportunity for growth and development. Keep challenging your thinking, and don't shy away from stepping outside your comfort zone. The outcomes might pleasantly surprise you.
Conclusion
Remember, life isn't a scripted performance. It's a live show with improvisations, unexpected solos, and occasional off-key notes. Embrace the complexity, the uncertainty, the beauty of it all. As the great Bob Dylan once said, "Behind every beautiful thing, there's some kind of pain." The trick is not to avoid the pain but to find its beauty. And that, my friends, starts with the way we think.
So, let's tune our minds to the right frequency, shall we? Let's make our thinking as rich, diverse, and harmonious as the music we love. Rock on, folks!