193. Dr. Ella F. Washington: The Very Strong Business Case For Diversity
There is a threshold of diversity below which no organization can operate with complete effectiveness. Diversity in this sense does not only include t…
eGPS Pin: Business Model Design
189. James Kent: Carving A Differentiated Growth Space In A Well-Established Market
Entrepreneurs always generate new value for customers; that’s what they get paid for. It’s not always necessary to create a new market; there are …
A Recipe For Entrepreneurial Success
Using the metaphor of a successful catering business built by Chris Wilton, use this checklist for a recipe for success for any entrepreneurial business.
158. Mark Romera’s Globally Orchestrated Entrepreneurial Design Journey
Entrepreneurship-as-design is brought to life in a wonderful conversation with Mark Romera, who conceived, designed and brought to market a values-dri…
156. Yousif Almoayyed: How Austrian Economics Helps Me Make Best Use of All My Business Knowledge
Business success is a function of knowledge — the right knowledge at the right time applied in the right way. But knowledge is always scarce and inc…
154. Henrik Berglund: Entrepreneurship As Design
For entrepreneurs, design is not just lines and shapes and colors and decoration, and it’s not just the look and functioning of a website or a build…
152. Laura and Derek Cabrera: Building An Entrepreneurial Business Culture With Systems Thinking
Why do entrepreneurs start businesses in the first place? They have a vision for the future and seek to work with other people to bring it about.
150. Six Powerful Business Insights From Austrian Economics
We invite you to listen to the special year-end podcast, and to sample each of those we’ve highlighted here, review the Key Takeaways we provide as …
Bitcoin Software
This is what entrepreneurs can do to solve the medical care crisis: Eliminate employer-based insurance. Make a single exception for the case in which the…
138. Mark McGrath: The Adaptive Entrepreneurial Method: VUCA, OODA, IOT
This week, Mark McGrath joins us to review a tool for value creation amidst continuous, roiling change. It has been around for a while and so is prove…
Business Model Design
The business model encompasses 4 V’s: identifying value potential (which can be translated as a dollar revenue stream by imputation); identifying all the assembled resources…
129. Samuele Murtinu on How and Why Governments Fail in Venture Capital
Dr. Samuele Murtinu joins the Economics For Business podcast to explain both how and why governments fail in their best efforts to help entrepreneuria…
The Emergent Business Strategy
When entrepreneurs bring their product or service to the market, the emergent strategy process should be followed: 1. Use empathic listening skills to determine what…
Austrian Business Principles
1. Focus on real people and their emotions, motivations, interactions, decisions, instead of relying on math, models, and predictions. 2. Embrace dynamism and uncertainty; the…
Radically Reshaping Business Thinking via Subjective Value
Re-think value. Business schools teach value creation. But their definition of value is faulty, based on a profound misunderstanding. Value is not objective and measurable,…
Advantaged Business Insights of the Austrian School
Listen to your customers’ wants and needs to fuel your imagination of new ideas and solutions. Allow room for emotion and subjectivity because those are…
5 Austrian Principles
Read, learn about and apply these five Austrian principles. 1. Too much aggregation can obscure important data. 2. Gather as much feedback from your customers…
128. Matt McCaffrey: Austrian Business Strategy (Part 2): Principles
Austrian economics helps entrepreneurs to develop and implement more effective business strategies, and to open up streams of continuous innovation. As Joe Matarese, CEO of…
127. Matt McCaffrey: Austrian Business Strategy (Part 1): Emergent, Not Planned
Strategy is not the formulation of a plan. It is emergent from a process of exploration and discovery. Austrian economics is the best guide for entrep…
Austrian Business Model
Understand and define subjective value, facilitate value for specific customers, exchanging value with customers in the market, and keep up with value agility – refining…
Is Competitive Advantage Intellectually Sustainable?
Competitive advantage may be a convenient rhetorical phrase, but it's an intellectually unsustainable tool, and of no use to business operators.
Ecosystem-Based Strategy
First shift your focus from the firm to the business ecosystem. Second, observe the ecosystem as a network that is constantly creating and changing values.…
S-E-R-V-I-C-E Warriors and the Individual Economy
Learn the S-E-R-V-I-C-E acronym and apply these principles to your company culture.
122. Andrew Frazier on Running Your Business
There’s a middle class of businesses that are the backbone of the economy. Professor Saras Sarasvathy coined that term, and we’re pleased to adopt it.…
Avoid the Errors of UN-trepreneurship
Focus on serving customers, understand subjective value, view pricing as a discovery process, and follow the entrepreneurial ethic.
Lean Business Canvas
Succeed in a competitive environment using the VRIO Method and the Lean Startup Canvas. Succeed in a competitive environment using the VRIO Method and the…
Alertness, Discovery, and Capabilities
How to start, grow, and manage a business using alertness, discovery, and capabilities-based strategy. How to start, grow, and manage a business using alertness, discovery,…
119. Peter Klein on Cronyism, Capitalism, and the Entrepreneurial Pathway
We often hear that capitalism is under fire: in contemporary politics, in journalism, in popular discourse, and even in some business schools and amon…
Consumer Value vs Shareholder Value
Compare and contrast your current business with this chart. Do you find your firm to be stagnant and slow growth? Or dynamic and open to…
Harness the Power of Technological Deflation
Aim for ten times improvement in customer experience, think boundaryless and combine technologies and ideas, and forecast the exponential. Aim for ten times improvement in…
The Austrian Business Model
One sentence to get someone to click on the video.
116. Alan Payne on a Fascinating History of Competing Business Models
We can gain useful insights by winding business models back in time to see how they emerged and evolved. In the case of competing business models, we …
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.
113. Jacqui Boland’s Entrepreneurial Journey on a Red Tricycle
This week on the Economics For Business Podcast we were gifted the opportunity of reviewing and assessing a completed entrepreneurial journey, courtes…
112 Peter Klein: When Policy-Makers Discover The Benefits of Entrepreneurship, They Can’t Resist Intervening
A recent special issue of the Strategic Entrepreneurship Journal, a top journal for which our friend Peter Klein sits on the editorial board, examined…
110: Yousif Almoayyed: Apply Economic Thinking To Better Manage Your Technology Projects
Does economic knowledge help you manage complex IT projects? Yousif Almoayyed thinks it does.
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…
108. Per Bylund and Mark Packard: Radically Reshaping Business Thinking via Subjective Value
In a recently published paper titled “Subjective Value In Entrepreneurship,” Professors Bylund and Packard apply the principle of subjective value…
105. Per Bylund: Austrian Economics is the Science of Business Success
For any size and any type of business, the generation of value requires more than strategy, planning, and executional excellence. It calls for the establishment,…
101. Per Bylund: Silicon Valley Is Bad At Entrepreneurship.
Our goal at Economics For Business is to help entrepreneurs and their businesses succeed. Per Bylund and Hunter Hastings discuss the true implicatio…
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,…
96. Vishal Gupta and the Nobel Prize For Entrepreneurship Research
Researchers into entrepreneurship have a powerful incentive to identify new insights about how businesses grow and thrive.
94. Peter Klein on the Advantaged Business Insights of the Austrian School
Six ways — selected from many — that businesspeople can derive more insightful knowledge and perspective from Austrian economics than from traditi…
86. Allan Branch: Entrepreneurs Are Authors Writing Their Own Story
"Entrepreneurship is like sailing through changing weather, winds, waves and tides.” - Allan Branch
85. Dr. Per Bylund on the Austrian School versus Business School
Why do business schools exist? Dr. Bylund wonders if business schools are facing an existential problem.
84. Bob Luddy: Five Active Processes of Austrian Economics That Helped Me Build One of America’s Most Successful Entrepreneurial Businesses
Bob Luddy is founder and CEO of CaptiveAire (CaptiveAire.com), the US market leader in commercial kitchen ventilation systems. It’s a $500MM+ busin…
81. Dr. Keith Smith: The Free Market Medical Association Brings Entrepreneurship to Medical Services
Dr. Keith Smith, Co-Founder of the The Free Medical Association (FMMA.org), is an entrepreneur and free market warrior who is undaunted by the seeming…
78. Per Bylund Introduces the Austrian Business Model
Dr. Per Bylund joined us on the Economics For Entrepreneurs podcast to provide an exposition and explanation of the core structure of the Austrian Bus…
77. Ralph Welborn on the Ecosystem-Based Strategy
Business strategy and business model design has traditionally been firm-centric. Entrepreneurs are called upon to establish firms, to make the firm th…
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 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…
69. Mark Packard’s Value Learning Process: The Two Kinds of Knowledge Entrepreneurs Must Have
Mark Packard has a big insight about how entrepreneurs manage innovation. Producers don’t innovate, customers do. That may sound a little odd, but M…
60. Rory Sutherland: How The Austrian Approach Helps Entrepreneurs Multiply Value. It’s Alchemy.
In episode 60, we are joined by Rory Sutherland, Vice Chairman of Ogilvy, one of the world’s largest advertising and marketing agencies, one with a …
59. Sean Ring: What Successful Entrepreneurs Understand About Iteration
Sean offers additional insights, as we’ll see below, but the power of iteration is his number one: doing things over and over, with a view to improv…
51. David Rapp on Harnessing Accounting To Your Purpose
Accounting is a tool for entrepreneurs to achieve their business goals. There are plenty of options for you in how you use it to serve…
42. Per Bylund on Economics of Value vs. Economies of Scale
Good economic theory predicts effective, cutting edge business practices. For example, the dynamic flexibility of capital resource allocation predict…
34. Peter Klein on Pricing
Pricing is fundamental to business success - to generating transactions, to cash flow and to profitable operations. There’s a lot of uncertainty for…
32. James Beardsley: Seeing the Business World More Clearly
James Beardsley owns and runs a law practice. He decided from the outset that he would run it like a business — not all lawyers do — and, once he …
26. Per Bylund on the Entrepreneurial Opportunity of B2B versus B2C
Dr. Bylund observes that students, when selecting entrepreneurial projects for his course, lean heavily towards consumer products and services. Does t…
23. Per Bylund on Entrepreneurial Strategy
Business strategy in books and business schools has tended to towards metaphors of sports or war. There are playing fields or battlefields, and the st…
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…
15. Jeremy Vesta On How To Create Differentiated Value In Seemingly Undifferentiated Markets.
Jeremy Vesta is a partner in Vesta Holdings, and a manager of Harmony Beef, a greenfield start-up in the fresh beef industry. Fresh beef might be thou…
14. C Jay Engel on The Entrepreneurial Life
Hunter breaks down the life of an entrepreneur with C Jay Engel, a successful digital technologist and author. Show Notes The entrepreneurial life is good…
9. Peter Klein on Entrepreneurial Decision Making
Decision-making can feel particularly challenging for entrepreneurs. Entrepreneurs face the unpredictability of the future with a limited set of resou…
8. Will Dinkel on Everyday Applications of Artificial Intelligence
We talked to Will Dinkel, CEO of Nova.ai, an intelligent platform for outbound sales and marketing – and a great example of A.I. as a…
1. Peter Klein on Means and Ends
There are some economic principles that can help entrepreneurs in their business-building endeavors. One is the understanding of ends and means. What ends (goals, objectives)…
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 …
