om.co » Why connecting the dots is important too

From Steve Jobs:

And the problem with that is that there’s just a tremendous amount of craftsmanship in between a great idea and a great product. And as you evolve that great idea, it changes and grows. It never comes out like it starts because you learn a lot more as you get into the subtleties of it. And you also find there are tremendous tradeoffs that you have to make.

Designing a product is keeping five thousand things in your brain and fitting them all together in new and different ways to get what you want. And every day you discover something new that is a new problem or a new opportunity to fit these things together a little differently.

Charlie Munger of Berkshire Hathaway & a partner of billionaire investor Warren Buffet speaking to students in 1994 said:

“What is elementary, worldly wisdom? Well, the first rule is that you can’t really know anything if you just remember isolated facts and try and bang ‘em back. If the facts don’t hang together on a latticework of theory, you don’t have them in a usable form.

You’ve got to have models in your head. And you’ve got to array your experience—both vicarious and direct—on this latticework of models. You may have noticed students who just try to remember and pound back what is remembered. Well, they fail in school and in life. You’ve got to hang experience on a latticework of models in your head.

via om.co » Why connecting the dots is important too.

Having one’s own model of things, see entrepreneurship and innovation as processes that change along the way! These are from two wise men but fit into my EcoRes framework.

This entry was posted in Human Economics, Starting a new business, Teaching cases. Bookmark the permalink.

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