1. Innovation and Invention

2. Ideas The most successful entrepreneurs are those that are the most observant and willing to think ‘outside the box’ This is where lateral thinking comes in

3. Lateral thinking Defined: is solving problems through an indirect and creative approach, using reasoning that is not immediately obvious and involving ideas that may not be obtainable by using only traditional step-by-step logic.

4. Applied By looking at your world using lateral thinking You can spot: Things that can be made better – innovation Things that can be made to address needs - invention

5. Edison v. Einstein Thomas Edison invented the light bulb by applying a logical step-by-step process. In his hundreds of attempts, Edison used incremental problem solving to achieve his goal. Albert Einstein developed the theory of relativity in a completely different way. His predictions stemmed from out of the box thinking rather than hands-on experiments. In fact, most of Einstein’s ideas were not proven by experiments until years later.

6. Problem # 1 There are six eggs in the basket. Six people each take one of the eggs. How can it be that one egg is left in the basket?

7. Solution The last person kept the egg in the basket

8. Problem # 2 You are driving down the road in your car on a wild, stormy night, when you pass by a bus stop and you see three people waiting for the bus: 1. An old lady who looks as if she is about to die. 2. An old friend who once saved your life. 3. The perfect partner you have been dreaming about. Knowing that there can only be one passenger in your car, whom would you choose?

9. Solution The old lady of course! After helping the old lady into the car, you can give your keys to your friend, and wait with your perfect partner for the bus.

10. Problem # 3 Bad Boy Bobby was warned by his mother never to open the cellar door or he would see things that he was not meant to see. One day while his mother was out he did open the cellar door. What did he see?

11. Solution When Bad Boy Bobby opened the cellar door he saw the living room and, through its windows, the garden. He had never seen these before because his mother had kept him all his life in the cellar.