One theory on the best way to conduct philosophy.

In revisionary philosophy you come up with a concept that sounds good to explain an idea. It is then tested by its utility. This is different from Analytic Philosophy in that one counter-example will not force you to revise your concept. There may in theory be a case in which your concept doesn't fit perfectly, but as long as it is the best fit in the most cases, it is the theory that is kept. It is only replaced when a better concept comes along.

Other possible ways of messing about with philosophy are Naturalized Philosophy and the aforementioned Analytic Philosophy.

I believe, though I am not sure, that this is also know as pragmatism.