Value
The purpose of any business is to generate value for customers. It’s important to understand what value is before taking on the task of generating…
Category: Featured
Three Necessities For Becoming A Repeatedly Innovative Organization.
By Sean Kennedy https://wthtm.com The article below was originally published in June 2018 and was based on a previous article from November 2017. Over the…
Recombining capital assets for increased returns and increased profit.
This news article from www.telegraph.co.uk details how recombination and reallocation of capital resulted in an increase in ROC (Return On Capital) from 5 per cent…
Use Entrepreneurial Intelligence To Refine Your Imaginary Construct.
Artificial Intelligence promises cognitive augmentation for business practitioners. Professor Steven Phelan’s research reveals that Entrepreneurial Intelligence is far more important and far more likely to influence…
10 Fundamentals Of Economics On Which To Build A Successful Customer-First Business
Our proposition is that the fundamentals of economics – a special humanistic, individualistic, entrepreneurial economics we call Austrian – can be the building blocks of…
The Entrepreneurial Individual’s Checklist
The entrepreneurial individual is the one best equipped to navigate a pathway through the changing world of work, revenue streams and economic opportunities. Follow these…
The New Role Of The Firm is Captured In The 4V’s Business Model.
In the new model of value, customers are the value creators. Firms are value facilitators, utilizing the 4V's business model.
The Age Of Strategy Is Over. The Replacement Is Explore And Expand
The concept of strategy came to business from the military. It has always been an inappropriate metaphor and, today, it's a dangerous fallacy based on…
How To Think Like A Successful Entrepreneur.
Successful entrepreneurs think about their business in value terms, and they recognize that they do not themselves determine the value of their offering — the…
Consuming Is Not Mindless Buying Of Stuff. It Is Social Co-Ordination Through The Exercise Of Choice In The Marketplace.
[postintro]This article continues the occasional series from Professor Raushan Gross on The Institutions Of Entrepreneurship. Entrepreneurship is a powerful pathway to innovation, growth, prosperity, and…
Treating Consumers As Means Not Ends Is A Fatal Business Model Flaw.
Recently, some of the Big Tech companies of Silicon Value have been caught in anti-market behavior. They have censored or even banned some of their…
How To Manage: Learn From The People, Plan With The People, Begin With What They Have.
Learn from the people Plan with the people. Begin with what they have. Build on what they know of the best leaders. When that task…
Thinking About Reducing Marketing and Advertising During This Down Economy? Perhaps You Should Think Again.
These are interesting times for sure, with many small and large companies making hasty decisions to cut back and, in many cases, to cut out of their b…
Value-In-Experience Is The New Way That Firms See Potential For Value For Their Customers.
Firms who follow the Austrian Business Model framework are focused on value for their customers – a special kind of value. It’s worth reviewing the…
Your Value Proposition Language Is Your Customer Commitment And Your Company Culture.
Peter Drucker is famous for, among many other pieces of business wisdom, his statement that “there is only one valid definition of business purpose: to…
David K. Hurst: The Organic Approach To Strategy And Business Management And The Ecological Business Model.
Podcast Transcript: Conversation With David K. Hurst; September 8, 2020 Listen to the full episode here. Hunter Hastings: David, welcome to Economics for Entrepreneurs. David…
The Importance Of Behavioral Data: It Is Not What Customers Say, It Is What They Do.
It is preposterous to assume what customers say is more important than where they place their feet and the price they pay for products or…
What Is A Business Model? It’s Not What You’ve Been Told.
What is a business model? It’s a question asked frequently on Google Search, so there must be doubt in businesspeople’s minds. The reason for the…
Per Bylund Introduces The Austrian Business Model.
Podcast Transcript: Conversation With Economist Dr. Per Bylund; August 11, 2020 Listen to the full episode here. Hunter: Per, welcome again to Economics for Entrepreneurs.…
The Genius Of The Consumer
Entrepreneurship is the intentional pursuit of value. This pursuit fuels the engine of economic growth. The entrepreneurs who achieve the realization of value become folk heroes,…
How Entrepreneurs Build Their Islands Of Specialization.
Austrian economics corrects many errors of the past. Most of those emanate from an incorrect view of the economy as a static system of allocation…
John Tamny On How The Entrepreneurial System Maintains Its Energy And Momentum.
Hunter: John, welcome to Economics for Entrepreneurs. John: Hey Hunter. Thanks for having me on. Hunter: You make economics relevant and interesting and you’ve been…
Why Do Entrepreneurs Miss Market Opportunities?
In his salient book, Capitalism, Socialism and Democracy, Joseph A. Schumpeter explained that introducing new methods of production and new commodities to the market is…
Austrian Capital Theory Provides Principles Of Capital Allocation Every Entrepreneur Can Apply Right Now.
Why do we make the case that Austrian Economics is the best resource an entrepreneur can use to grow their business? Because the principles of Austria…
Where’s The Profit In Digital Innovation? It’s In Reduced Transaction Costs.
The new era of low transaction cost digital service provision is, in Munger’s telling, a revolution, as significant as the Industrial Revolution in …
Entrepreneurial Initiative Beats Corporate Innovation Process Yet Again. When Will They Ever Learn?
The future of innovation lies squarely in the initiatives of the independent, interconnected entrepreneur. As new technologies like A.I. and global id…
Each Of Us Can Drive Towards Lifetime Sustained Peak Performance – Like Tom Brady
What if we had a President whose brand was built around the promise of being the best person he could, and helping all Americans to be the most produc…
