How can We Change Our Mindset to Tide over Economic Crisis?

Sometimes it could be difficult for leaders to see the light at the end of the tunnel when living through a painful economic crisis.

A person’s ability to motivate, energize, and inspire themselves or others during challenging times is paramount.

This moment in history will require leaders to have a fundamental shift in their thinking if they are going to remain relevant.

How can We Change Our Mindset?

We need to shift from a competitive mindset to an abundance mindset.  Let’s think about what we have and not what we lost.

What is our story? Where are we going? How do we want people to remember us?

Dr. Edward de Bono, a psychologist, and philosopher came up with a famous thinking technique called the Six Thinking Hats Methodology.

He used it in his work advising government agencies and he programmed it to be a practical tool for everyday problem-solving.

The Six Thinking Hats Methodology is also called the “lateral thinking” approach, a method of solving problems in a creative and surprising way.

How to Work with the Six Thinking Hats Methodology?

The technique allows us to think in six different directions.

Imagine we are in a group and we are going to do a brainstorming session.

By wearing one hat at a time, a synergy can be created between the people participating in the
session.  And on top of that, it stimulates creativity and expands the scope of solution-based thinking.

Blue Hat – the blue hat is used to manage the thinking process, think of questions like, “What is my goal?” and “What process will I use?”

White Hat – the white hat is about factual information and data, there should be no speculation about it. Think of statements like, “Unemployment has risen, there is a need for opportunities” or “What information am I lacking to start this business.”

Red Hat – the red hat is about feelings and emotions without justification or prejudice. Think of our gut feeling or feelings and emotions associated with our ideas.

Black Hat – the black hat is about what we need to be careful of, or be cautious of. “What is my competitor matches my lower price?” or “Why will this not work?” are examples.

Yellow Hat – the yellow hat is for positive thinking, or benefits in the ideas.

“If there is an economic upturn, then it is feasible that customers will spend even more.” – this is always the best scenario needed.

Green Hat – the green hat is for creative thinking and new ideas. “What other solutions can I think of? or “If I am successful, how can I grow on my success?”

Can you master these hats?

Hats in Action

Let’s use an example of a river that only has a few bridges to cross and we are looking for a solution closer to where we are.

“Blue hat” comes up with an idea or proposal to build a new bridge in the area where there is not one yet.

“White hat” comes up with the cost of the bridge, the timeframe needed and the cost of maintaining the bridge.

“Red hat” would think of who a bridge like this would make happy i.e. some people shortening their commute, and who would be unhappy about it i.e. residents in the immediate area where traffic will increase.

“Yellow hat” will point out the time that it would save, and how commuter-friendly it would be.

“Black hat” will point out the high costs and higher traffic in the area.

“Green hat” will suggest renting a boat or building a ferry instead.

The main negatives were avoided through this process, and a well-thought-out concrete solution was thought of.

Do you have some new insights from the exercise?


One of the most useful tools to use in our life as an entrepreneur is the Six Hat Thinking Methodology. At its core, it helps us to make better decisions by preventing our natural biases from getting in the way. It also encourages us to consider a wide range of perspectives, including those that we would normally avoid.

If you want to experience the benefits of the Six Hats Thinking Methodology, you can try it with your teammates during any brainstorming time or join a program where there is a professional facilitator to guide you throughout the thinking process.

The Destiny Team


Business Reborn Program – Change Our Mindset to Tide over Economic Crisis (using the Six Thinking Hats Methodology)