Mental Model Posts ‘Disconfirmation’

An Accelerated Master’s Degree: Innovation in One Book

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Topics: Innovation
Innovation

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There have been plenty of books recently published on the concept of Deliberate Practice, which essentially says that it takes 10,000 hours of a certain kind of practice (called ‘deliberate’) to gain expertise in something.   It makes sense that the majority of what we want to learn in any discipline is going to be experiential (or gained through practice).  But in order to better understand our experiences, we want to have some kind of framework of what to expect.  We want to develop a theory structure.

Books are what give us this theory structure, and certainly the quality of the theory structure we begin with impacts the amount of deliberate practice we need to become an ‘expert.’  So it’s important to choose the right books, as they will provide the base infrastructure upon which we will layer our experiences.  We’re looking for books that concisely capture the overriding concepts of a particular discipline.

And in any discipline, at least one fairly well defined, there doesn’t need to be that many books to accomplish this.  I would generally say that 3 books or fewer, for each discipline, will give you a proper theory structure.

With that in mind, let’s look at Innovation…  Read More »

Why Cute Ideas Die: The Execution Factory

Execution Factory

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There’s this myth that all you need in business is a good idea and you’re going to be rich.  I’ve never seen it work out that way.  Derek Sivers (formerly of CD Baby) made this a lot easier to understand when he explained his version of the difference between ideas and execution in this blog post.  He basically says the value isn’t in the idea itself, but in the execution of the idea.  And in my experience, he’s right.  Read More »

Mingle with Powerful Models: Using Mental Models to Make Better Decisions

French Clock

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Charlie Munger likes to say that 80-90 mental models will give you the bulk of the material you need to be a “worldly-wise” person.  Part of being worldly-wise is making good decisions, and although Charlie mentions 95 models in his book (by my count), they can each be used and combined for different purposes.

So, how do we combine them to create the ideal decision-making process?  Since I’m in love with the number 7 (figuratively), I’ve put together what I consider the seven most useful mental models in decision-making.  Good decision-making will involve an understanding of Statistics, Economics, and Psychology.  And the decision-making process becomes much easier if you take mental models from these disciplines and put them into a checklist.  To me, the following seven mental models are the best checklist available.  Read More »