Entrepreneurs are necessarily optimistic. You have to be, it allows you to see the possibilities that surround you and act accordingly.

The downside, however, is that your emotional attachment can blind you to issues that would otherwise be obvious to someone who isn’t as personally invested in the project.

That’s why smart entrepreneurs learn to wear six hats: six “Thinking Hats.” Originally defined by psychologist Edward DeBono, the Six Thinking Hats are a structured creativity tool to help you see a situation from different perspectives, to solve a problem, or to anticipate and minimize risks before they become problems.

When you “wear” a specific colored hat, you give it permission to view your problem in a specific way:

• White hat: Analytical – What does the data say? Look at the available data, both quantitative and qualitative. What are the past trends? What can you extrapolate? Where is the evidence to support your assumptions? Where do you need more data?
• Red Hat: Emotional – How do you feel about this? Access your intuition, gut reaction, emotion. Talk about your feelings about the situation, where you feel good and not so good. How would others feel about it?
• black hat: Pessimist – What could go wrong? Think carefully, defensively, why it might not work. Poke holes in the idea, look for weak points, all with the intention of identifying what needs to be addressed to overcome any problems.
• Yellow Hat: Optimistic – What if everything goes well? Think optimistically, positively. Imagine all the opportunities, the benefits, the advantages. Reach the stars!
• Green hat: Creative – How can we improve this? Use your creative juices to think “outside the box.” Explore strange tangents, unexpected synergies, make it a “purple cow” (something remarkable that stands out from the crowd).
• Blue hat: Process – What should we do now? Direct the creativity process to avoid stagnation. When you’re in “Blue Hat” mode, step away from the problem and consider if you’re giving all the other hats equal time.

Entrepreneurs seem to do pretty well with the yellow, red, and green hat approaches to coming up with an idea. There is more resistance to the (analytical) White Hat and definitely a big block around Black Hat thinking. Could this be because the Analytical and the Pessimistic are associated with external control?

There is nothing to fear from the Black Hat: it can be your best friend. Wearing the black hat snaps him out of cheerleader mode and forces him to examine his assumptions closely. From personal experience, I know that when a project fails, the failure can be attributed to an assumption that wasn’t properly tested. Black Hat thinking gives your project real traction by anticipating pitfalls and encouraging defensive planning. This makes the plan more resilient and improves the probability of success.

As you explore the use of the different hats, put on the blue (process) hat from time to time to see if you are considering all perspectives on your project. Keep in mind that the purpose of this thought exercise is not to blame or blame. The mindset of every Hat is to make sure the project succeeds.

It’s so much fun to dream big and reach for the stars. But if you want to progress, you have to keep your feet on the ground. Practice using the Six Thinking Hats as you plan and execute your business venture. This mindset will give you the traction to push your project towards real and lasting results.