by Juan Carlos Piñeiro Escoriaza | Nov 23, 2020 | Business, Leadership, Mental Models, Product, Thinkers
Porter’s Five Forces Definition The five forces that influence a company’s ability to serve its customers and profit are: The threat of substitute products or services The threat of established rivals The threat of new entrants The suppliers’ bargaining power... 
by Juan Carlos Piñeiro Escoriaza | Nov 9, 2020 | Mental Models, Product, Thinkers
Inversion Definition Don’t search for a solution by thinking linearly; consider outcomes you don’t want to occur first. So, rather than plot a one-year plan meticulously, think about all the ways things can go wrong. Figure out how you or the idea will fail so you... 
by Juan Carlos Piñeiro Escoriaza | Oct 26, 2020 | Mental Models, Product, Thinkers
Social Proof Definition Individuals are influenced and mimic what others around them are doing — monkey see, monkey do. That effect becomes more pronounced when folks are uncertain, stressed, or confused. Why Use It Regardless of how individualistic people believe... 
by Juan Carlos Piñeiro Escoriaza | Oct 10, 2020 | Mental Models, Product, Thinkers
Parkinson’s Law Definition Work expands to fill the time available for its completion. Simply, the amount of time you have to complete a task is how long it will take to finish it. Say you had a task that should take a couple of hours, but you have given... 
by Juan Carlos Piñeiro Escoriaza | Sep 28, 2020 | Mental Models, Product, Thinkers
Moral Hazard Definition A person or group who does not have to bear the full responsibility for an action is more likely to behave recklessly. The canonical example is when a corporation is willing to take on more risks because they know their insurance company will... 
by Juan Carlos Piñeiro Escoriaza | Sep 14, 2020 | Mental Models, Product, Thinkers
Circle of Competence Definition Individuals gain knowledge by studying or experiencing the world. Knowing where your competencies are and where they are not is crucial to understanding what problems you can solve and which ones you’ll need to ask for help. Why Use It... 
