The Hybrid Workplace Is An Excellent Example Of Emergence In Complex Evolving Systems.
Management thinking about business and how work gets done to generate value for customers requires radical revision. Happily, the understanding of com…
Author: Hunter Hastings
Hi, Hunter Hastings here - I'm an economist by education, a marketer in my professional track, a venture capitalist in my current business life, an Individualist in philosophy, and a passionate supporter of entrepreneurship in whatever form I can practice it, support it and advance it.
The New Social Technology For Business Is Talkability.
One of the subjects worth thinking about as you work to develop your brand and your business is the social technologies you utilize to support you. So…
“Let’s become a learning organization!” It’s easier said than done.
Who could disagree with the concept of a learning organization? It sounds wonderful. It certainly should be encouraged. But if you dig a little deeper…
The Entrepreneurial Journey Never Ends. Continuous Daily Improvement Keeps It On Track.
Our guest in Episode 13 of The Value Creators podcast, Benjamin Johnson, is a technical entrepreneur, one who recognizes that technical innovations ar…
The Adaptive Entrepreneurial Method
When firms apply the principles of Austrian economics to business management, we call the result the Adaptive Entrepreneurial Method.
It’s adaptiv…
Reimagining Management As Entrepreneurship
In crises, winning organizations act like startups.
That’s a sentence from James Burstall’s book, The Flexible Method. He’s writing about how b…
Economic Opportunities Don’t “Exist”. Entrepreneurs Create Them.
Peter Klein is one of the exceptions among economists, in a 2016 essay entitled My Contributions To Entrepreneurship Theory, Prof Klein does a rema…
Entrepreneurs Don’t Meet Needs, They Lead Needs
John Tamny is the clearest writer on business and economics because he is the clearest thinker. While some of us struggle to understand or define how …
Rethinking Business Paradigms in the Age of Subjective Value
Re-thinking value.
Business schools teach value creation. But their definition of value is faulty, based on a profound misunderstanding. Value is not…
Business Is Not A Set Of Practices Or Strategic Methods Or Planning Techniques. It’s A Mindset
In the current business era, there’s a lot that seems mandatory: using quantitative methods of strategy and planning, following documented IT-enable…
Austrian Capital Theory Is The Key To Modern Organizational Design.
Austrian Capital Theory (ACT) sounds arcane, academic, and complicated. In fact, it’s the key to modern organizational design, cutting-edge business…
The Premier League Embraces Austrian Capital Theory.
The economics of sports is particularly interesting at the moment. We see sports franchises being bought and sold at what might seem like high prices …
High Tech vs. Deep Tech
Is Germany an innovation failure? Quite a few people answer this question with "Yes!". And indeed, there are enough case studies where Germany has lit…
Hermann Simon Offers A New View Of the Economy
There’s another, better way, to think about the economy: as a complex interconnected and collaborative network of companies, contracts, and service …
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…
How To Develop And Implement A B2B Services Strategy
Assess your business ecosystem and design a services strategy to fit in and contribute in new value-added ways.
Victor Chor Wins 2022 Mises Young Founders Award
The Economics For Business project promotes entrepreneurship in the Misesian sense: as the driving force of the whole market system. The individual entrepreneur is one…
The Customer As Business Driver
The Value Entrepreneurship System puts the customer at the center of business operations. Better understanding their life context leads to better serv…
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…
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…
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.
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…
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…
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…
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…
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…
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…
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…
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 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…
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…
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 mohammad.keyhani@haskayne.ucalgary.ca 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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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.…
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…
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,…
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…
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…
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…
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…
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…
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 …
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…
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…
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 …
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…
