Mental Model Posts ‘Induction’

An Accelerated Master’s Degree: Statistics in a Book (or Two)

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Topics: Statistics
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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 Statistics…  Read More »

Three Mental Models of Successful Entrepreneurs

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Almost every aspect of business would be considered a soft science.  This means there are no strict rules for starting, managing, or growing a business.  It also means business is more art than science.

Without the predictive ability to determine success, it’s better to develop a system of thought.  And the best system of thought is a latticework of mental models.  Induction, or the prediction of unobserved events from knowledge of observed (similar) ones, is the result of a well constructed latticework.  And induction is the ability to go from specific concepts to a multidisciplinary understanding of the world.  This ability is critical in entrepreneurship.

There are three mental models that should constantly be on the forefront of every entrepreneur’s mind.  Read More »