Triangulation

Entrepreneurs need to know about triangulation because they often need to estimate market size for their improved mousetrap when there are no hard and fast estimates on which they can hang their hats. Triangulation allows you to pull data from a variety of sources to come at a range within which will probably fall the desired estimate.

In trigonometry and geometry, as noted in Wikipedia, the free, on-line encyclopedia,

Triangulation is the process of determining the location of a point by measuring angles to it from known points at either end of a fixed baseline, rather than measuring distances to the point directly. The point can then be fixed as the third point of a triangle with one known side and two known angles.

In health policy, according to www.igh.org/triangulation,

Triangulation is an approach to data analysis that synthesizes data from multiple sources. Triangulation seeks to quickly examine existing data to strengthen interpretations and improve policy and programs based on the available evidence. By examining information collected by different methods, by different groups and in different populations, findings can be corroborated across data sets, reducing the impact of potential biases that can exist in a single study.

Triangulation combines information from quantitative and qualitative studies, incorporates prevention and care program data, and makes use of expert judgment. Triangulation can answer questions on risk groups, program effectiveness, policy and budget planning, and the state of the epidemic in a changing environment. Triangulation methodology provides a powerful tool when a rapid response is needed, or when good data do not exist to answer a specific question. Triangulation can be used when the collection of new data is not feasible or cost-effective.

Triangulation can be very useful in coming to educated guesses about something. Even if you think you know the size of a given variable you're interested in, triangulation can either increase the chances that you are correct or look at the question before you jump to fast.

Do you know about triangulation? What are your ideas? I'd like to know. Read the articles cited and their references. Post a comment.

Entrepreneurship informs all of my professional activities. Entrepreneurial ideas are the life's blood of my real estate practice and my writing. For entrepreneurial real estate go to www.yourstopforrealestate.com/blog and for entrepreneurial writing to www.kearneymusicschoolmurders.blogspot/com.

Social Network Theory

From Wikipedia, the free, on-line encyclopedia:

A social network is a social structure made of nodes (which are generally individuals or organizations) that are [linked] by one or more specific types of interdependency, such as values, visions, ideas, financial exchange, friendship, kinship, dislike, conflict or trade...

Social network analysis views social relationships in terms of nodes and [links]. Nodes are the individual actors within the networks, and [links]. [Links] are the relationships between the actors. There can be many kinds of [links] between the nodes. Research in a number of academic fields has shown that social networks operate on many levels, from families up to the level of nations, and play a critical role in determining the way problems are solved, organizations are run, and the degree to which individuals succeed in achieving their goals.

In its simplest form, a social network is a map of all of the relevant [links] between the nodes being studied. The network can also be used to determine the social capital of individual actors. These concepts are often displayed in a social network diagram [called a graph], where nodes are the points and [links] are the lines.

This concept is crucial for entrepreneurs. Their entreprises consist of them and their connections. Networks provide the social capital the entrepeneur needs to succeed. Customers buy and are influenced by their social networks. Social networks provide opportunities and information which the entrepreneur needs to succeed. Social network analysis provides a very rich set of tools by which the entrepreneur can analyze his or her social capital and manipulate their networks in order to manage risk and increase the odds of success. Note in the above quote I have substituted the work "link" for "tie." And if this interests you read the entire Wikipedia article and follow the links adn references. I assure you that you don't have enough hours to get your mind around all the stuff that's been written on Social Network Analysis.

Entrepreneurship informs everything I do. If it does this for you to, post a comment. For entrepreneurial real estate go to www.yourstopforrealestate.com/blog and for entrepreneurial writing to www.kearneymusicschoolmurders.blogspot.com

Information and Entrepreneurs

Information is key to everyone, entrepreneurs maybe more so. Wikepedia, the free, on-line encyclopedia, describes information as:

"The state of a system of interest, any represented pattern, any type of pattern that influences the formation or transformation of any other patterns."

Anyone interested in this should read the entire Wikipedia article and go to its references and links.

Information can be anything: the number of angels on the head of a pin, the weather forecast, the attitudes of a spouse, the number of widgets you sold last month. Brown and Duguid, in The Social Life of Information (Boston: Harvard Business School Press, 2002), include in it "the fuzzy stuff around the edges--context, background, history, common knowledge, social resources" (p. 1). Their point is that too often we "tunnel through." To quote them:

But this stuff around the edges is not as irrelevant as it may seem. It provides valuable balance and perspective. It holds alternatives, and ignore the fuzzy stuff which holds alternatives, offers breadth of vision, and indicates choices. It helps clarify purpose and support meaning. Indeed, ultimately it is only with the help of what lies beyond it that any sense can be made of the information that absorbs so much attention. (pp. 1-2)

Entrepreneurs have to keep their view wide and not suffer from tunnel vision, not rely on data to the extent that they ignore context and background. And above all, they have to see information as more than data.

This is my entrepreneurship course. If something grabbed you, post a comment. Entrepreneurship informs everything I do. For entrepreneurial real estate go to www.yourstopforrealestate.com/blog and for entrepreneurial writing and publishing go to www.kearneymusicschoolmurders.blogspot.com