Why Is Austrian Economics The Economics For Marketing?
Marketing focuses on designing, communicating, and delivering value to customers. Austrian economics provides a set of principles for value generation. There are three pillars. Customer-first…
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Prices Are Everything
Don't think of prices as the outcomes of transactions, but as an almost magical system that aligns your business and its customers.
Design Is The Process That Links Your Imagination To Your New Marketplace Offering.
Entrepreneurship is a design process that begins with imagination and then employs design artifacts (tools, processes, templates, plans, prototypes, l…
Journeys In Journey Mapping
Practical tips and advice from an expert user of the Customer Journey Mapping tool.
Who Is A Customer?
Author: Sean Kennedy (https://wthtm.com) The definition of a customer seems so obvious in B2C relationships that we often don’t bother to define it. Amidst the…
What Use Is Economic Theory In Business?
What use is economic theory in business? It’s indispensable. It’s the necessary starting point for all businesses, brands and projects. Only when you have mastered…
Austrian Economics As A Pathway To Entrepreneurial Leadership: Rick Rule’s Story.
Rick Rule is CEO at Sprott US Holdings. His lifetime focus on natural resources finance enabled him to carve a unique pathway to entrepreneurial success.…
The Economics Of Creativity
There are many, many pathways of entrepreneurial opportunity in creative services, where it is eminently possible to succeed on talent, where big companies are eager…
Economic Opportunities Don’t “Exist”. Entrepreneurs Create Them.
Economists have only a very misty view of entrepreneurship, even though it’s the force that drives economic growth. Not only can they not measure its…
For A New Entrepreneurial Organization Of Our Economy.
The dynamism of an economy is determined by its organization. Crony capitalism is an organizational error that undermines innovation and value creatio…
The Division Of Economics Into Macro And Micro Is Incoherent. Individual Action And Interaction Are The Two Levels On Which To Focus.
Macroeconomics is a phony construct designed to provide a vehicle to justify government intervention via economic policies. Individual action and inte…
Re-thinking The Role Of The Consumer In The Business System: Making Six Strong Connections.
When businesses embrace the concept of subjective value, they redefine the role of the consumer or customer in their business model and strengthen six…
The New Economics Of Value And Value Creation.
There's a new economics of value and value capture that business leaders should understand and act upon. It changes perspectives, and it changes busin…
When Businesses Re-Think Value Using A Subjectivist Approach, Many Beneficial Consequences Follow.
When businesses take the time and analytical effort to think about value and to define it from the customer’s perspective, they will realize the opp…
Quantum Economics, Potential, And The 4V’s Business Model.
To get your head around quantum mechanics, it’s necessary to be able to think about a space that’s between reality (called spacetime in the language…
Value Is A Process – the Essence Of Entrepreneurship.
What is the value of a pizza?
If you asked a standard economist, they might—thinking themself quite clever—ask in return, “well, what would you…
Fighting Poverty With Entrepreneurship.
My father, the late Reverend Gilbert H. Caldwell, Jr. was a Civil Rights Movement “foot soldier” who knew and marched with Dr. Martin Luther King,…
Mohammad Keyhani: Implications Of Generativity For Entrepreneurship And Strategy
Implications of Generativity for Entrepreneurship and Strategy Guest: Mohammad Keyhani Haskayne School of Business, University of Calgary [email protected] This article is based on episode…
Empowerment Through Entrepreneurship.
There are many reasons to elevate entrepreneurship as the institutionally-approved and institutionally-accelerated pathway to economic success for everyone. Community flourishing through self-help is one of…
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…
Take A Job? No, Make A Job.
The institutional and cultural guidelines today for personal and family income tell us to take a job. The government publishes jobs data as a key…
Your Attitude And My Attitude Are The Sources Of Economic Growth And National Prosperity.
Who are the drivers of prosperity? Economists would say it’s them. At least the ones who work for the Federal Reserve and the US Treasury…
Cast Down Your Bucket Where You Are: How Entrepreneurs Use The Institutions of Entrepreneurship To Thrive In The Technological Epoch
How can institutions such as education, family, language, laws, and economy be understood as the catalysts for emerging institutions of entrepreneurship? From an entrepreneurial perspective,…
Entrepreneurs Are Those Who Refuse To Accept The Status Quo – In Business, Politics, Institutions And Society.
Entrepreneurs refuse to accept the status quo. Their function is to create new economic value for their customers, and thereby to profit for themselves, both…
The Ethic Of Entrepreneurship.
What if the generalized approach to life was something like this: my most fulfilling and most profitable pathway is to first help other people –…
Entrepreneur Zones: Teaching People To Fish In America’s Abundantly Stocked Economic River.
Entrepreneurship has not been valued the way it should be. Sure, we read about and hear about the outliers of venture-capital funded unicorns, and the…
An Economist Uncovers A New Market Trend: The Rise of the DIY Consumer-Entrepreneur.
[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…
Unsure Of Your Direction In These Turbulent Times? Entrepreneurship Can Provide All The Answers You Need.
2020 has been a strange year. My friend Ben always asks me, “Is the world crazy enough for you today?” He knows I nurture the…
What’s The Ideal Age To Be An Entrepreneur? Let Market Conditions Decide.
[postintro]This is the first article in an occasional series from Professor Raushan Gross on The Institutions Of Entrepreneurship. Entrepreneurship is a powerful pathway to innovation,…
4 Rock-Solid Basics Carry Entrepreneurs Through Crucial Periods Of Business Transition.
[postintro]Please welcome our newest guest contributor, Lucy Reed. Lucy is an entrepreneur’s entrepreneur. She created Gig Mine (https://gigmine.co) to help others dig up sharing economy opportunities…
The Epic Calling Of The Entrepreneur.
Many of us feel the pull of contributing to something “bigger than ourselves”. It could be a cause, a charity, a movement, a great project.…
Austrian School Versus Business School: Dr. Per Bylund Compares The Insights Available To Entrepreneurs.
Podcast transcript. Sept 29, 2020 Dr. Per Bylund compares the insight of the Austrian school of economics with the models and theories and strategic frameworks…
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…
Bob Luddy Is A CEO Who Applies Principles Of Austrian Economics In His Business Every Day.
One of the things that I really like about the Austrian economists, regardless of the subject, they work hard to get to the truth of…
Why All CEO’s Can Benefit From A Familiarity With The Austrian Business Model.
For our Economics For Business initiative, we have adopted the motto: Think Better, Think Austrian. Everyone in business can benefit from studying and understanding the…
How Free-Market Entrepreneurship Is Transforming The Economics Of Healthcare In America.
Podcast Transcript: Conversation With Dr. Keith Smith of the Free Market Medical Association (fmma.org); September 1, 2020 Listen to the full episode here. Hunter: Dr.…
Meaning In Life Is Critically Important To Well-Being. Entrepreneurship Is A Key Route To Get There.
Podcast Transcript: Clay Routledge (Professor of Psychology, North Dakota State University and Director, Existential Science Laboratory) and John Bitzan (Director of the Sheila and Robert Challey Institute…
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…
Entrepreneurship Brings Us Optimism For The Future, Despite The Depredations Of Government.
Jeff Deist recently argued the case for economics over politics in his talk “Markets vs. Mobs.” I believe markets will prevail, and here’s why. Our…
How Murray Rothbard’s Theory of Entrepreneur-Driven Progress Can Be Applied to Modern Businesses
In chapter 8, Rothbard establishes the principles of what he calls the progressing economy, one in which gross investment in capital goods is increasi…
A Values-Driven Entrepreneur Shares Ten Principles For Success In The Highly Competitive World Of Sports Content.
There are many kinds of entrepreneurs. They are all instigators of win-win arrangements in which customers are served in innovative ways by enterprising individuals and…
Entrepreneurship Is The One Institution We Can Rely Upon To Maintain A Prosperous And Civil Society.
In this time of social unrest, Americans’ confidence in our institutions is in decline. A sample from Gallup’s frequent annual poll includes these selected comparisons…
How Entrepreneurs Build Beautiful Businesses.
In his book, Narrative Economics, Robert Schiller, Nobel Prize-winning economist, tells us that the greatest influences on the nation’s economy come from the stories we…
What’s A Good Entrepreneur To Do? Make A Profit, Thereby Serving Society In The Best Possible Way.
A January 2020 Forbes Magazine article titled “Why Doing Good Is Good For Business” clearly left out critical information: who is the good or bad entrepreneur?…
We Need More Entrepreneurs To Encourage More Entrepreneurship And A More Dynamic Economy.
Most of the market activities in which entrepreneurs are engaged are readily seen. People buy and sell things or provide services at locations to paying…
The Entrepreneurial Advantages of Building Human Capital While Young.
While you were young, did you gain knowledge and learn skills that gave you the human capital necessary to become an entrepreneur or a small business …
What Would The World Be Like Without Entrepreneurs? Pretty Grim.
Reading Per Bylund’s How Entrepreneurs Build the World inspired a thought: What would the world be like without entrepreneurs? Could we really know what our…
A Nation Has Lost Its Way. Entrepreneurship Will Put Us Back On The Right Track.
A nation has lost its way. On July 13, 2012, in a political campaign speech in Roanoke, Virginia, United States President Barack Obama uttered the sen…
The Culture Of Entrepreneurship Promises An Exciting Breakout From Government, Corporatism And Dependency.
The science of economics has a big problem with vocabulary. It attempts to capture complex concepts in single words and phrases, which only serve to…
Ideas Are Not Scarce. Excellent Implementation And Great Execution Are Scarce.
We gathered together another insightful tweet stream from the entrepreneur’s highest rated economist, Dr. Per Bylund. The problem of #entrepreneurship is not to come up…
Definition of Entrepreneurship From Library Of Economics And Liberty
An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise. An entrepreneur is an agent of change. Entrepreneurship is…
Why Austrian Economics Is The Economics You Need For Entrepreneurial Success.
Jeff Deist, President of the Mises Institute, recently penned a metaphorical comparison of Austrian economics to the punk rock bands of the 70’s and 80’s…
Mainstream Economists Favor Efficiency. That Should Not Be A Goal – It Should Be Avoided.
What does an economy do? Modern economics suggests it is about [production] efficiency, and develops models for assessing the degree to which it is achieved…
Per Bylund’s Tweet Stream Explains The Concept Of Economic Cost And How It Directs Investment To The Highest Return Projects.
The concept of economic cost seems to confuse people. It is not the price you pay for a good, but the reason you pay it.…
Is There A Philosophy Of Entrepreneurship? Yes, There Most Certainly Is. It Starts With Ethics.
Mainstream economics today does not believe in ethics, or does not count ethics as a part of its program. Instead, it is based on the…
Interview on The Libertarian Christian Podcast
Check it out! A few weeks back I joined Doug Stuart to discuss my book, The Interconnected Individual, and why we should look forward to the exciting…
Entrepreneurs Change The World For The Better By Thinking Exclusively About How To Offer New Value To Consumers.
Original Article by Per Bylund. Politics is hardly an effective force for bringing about positive change in society. Instead, real change, and especially such that…
Interview on Power Trading Radio
Check out my recent appearance with John O’Donnell on Power Trading Radio where we discuss my most recent book, the Economics for Entrepreneurs Podcast and…
Entrepreneurs Bring Economic Progress – Which Is Far More Important To People Than GDP Growth.
Progress in one area leads to progress in others. Life gets better. Progress is not brought to us by managers striving for efficiency, but by entrepre…
Here’s How Small Business Will Take Over The Planet.
People prefer to deal with those they know, like and trust. Small business can win big on these three fronts. More and more customers will make the ch…
Don’t Go Left, Don’t Go Right, Go Entrepreneurial.
We need people who can imagine a better future in entrepreneurial terms, not political terms. People who can identify how to serve their customers in …
6 Reasons Why Individualism Is The Best Social System For Everyone.
In the division of labor, we each want to demonstrate that we can provide better service to others and be worthy of our hire. This is how individuals …
