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…
eGPS Pin: Design & Assembly
199. Bartley J. Madden: Value Creation Principles
Value for customers is the purpose of all entrepreneurial business. Firms big and small must know, follow, and adhere to the principles of value creat…
195. Tom Malengo on Brandjectory, An Innovative New Platform for Launching and Growing Entrepreneurial Businesses
A great benefit of the internet age is the capacity to accumulate, accelerate, and intensify connections between entrepreneurs, knowledge sources, inv…
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…
191. Allen Mendenhall: Putting Humanness and Ethics Back Into Business Economics
We are living through a particularly bad moment in history for free markets and capitalism. Government, not business, is promoted as the solution to a…
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.
179. Mark Packard On Entrepreneurial Valuation, Part 2: How Entrepreneurs Create Value
How do entrepreneurs and executives apply that theory to create customers, delight them, and grow strong brands and businesses?
178. Mark Packard On Entrepreneurial Valuation, Part 1: Value Learning
Getting into the minds of customers is the universal need of everyone in business. A new book by Mark Packard, Entrepreneurial Valuation, provides a …
170. Annika Steiber: Rendanheyi is the Most Radically Disruptive Organizational Innovation
Innovation in organization is at least equal in importance to technological innovation and product / service innovation. It tends to get less attentio…
The HP Way
Learn from these principles to design your organization for the digital age.
169. Jeff Arnold: A Passionate Entrepreneur Profitably Redesigns The Insurance Experience
Is there any industry a passionate entrepreneur can’t improve and enhance by elevating the customer experience? The answer is clearly no. Economics …
168. Anthony J. Evans: Markets for Managers and Entrepreneurs
. We discuss markets with Anthony J. Evans, a business school professor who teaches that all businesspeople must become economists.
167. Mo Hamzian: Everyone Deserves the Best Workplace
There’s a lot of speculation about the future of work — what form it will take, where it will be done, and who will do it (including the robots ve…
Entrepreneurship As The Discipline Of Providing Service To Customers
Entrepreneurial businesses become expert at co-creation of value with customers.
163. Joe Matarese: Medical Tyranny and Its Entrepreneurial Solutions (Part 2, The Solution)
In episode #162 of the Economics for Business podcast, Joe Matarese described the nature and cause of the healthcare problems we face. In episode #1…
162. Joe Matarese: Medical Tyranny and Its Entrepreneurial Solutions (Part 1, The Problem)
Medical care in the US exemplifies how the perverse effects of accumulated, self-reinforcing economic errors can render a system dysfunctional for con…
161. Connie Whitman: Turning Experience Into An Intellectual Property Business
Your individual experience is a business asset. Life is teaching us more than we sometimes realize. An insightful analysis of what we’ve experienced…
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.
160. Laura and Derek Cabrera: Systems Thinking For Business
reneurs can realize their goal to think better, think Austrian by taking a systems thinking approach. We can ditch linearity and hierarchies in favor …
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…
157. Luca Dellanna on the Power of Adaptation: Managing Complexity Every Day
The terminology of complex adaptive systems sounds academic and abstruse, but the subject is not: it’s about the real-life, in-your-face problems an…
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…
153. Brett Lindell: Designing and Assembling a Breakthrough Business in Construction
We talk to Brett Lindell, CEO of Pantheon Holdings (which includes Aegis Exteriors and Fortress Roofing) about his Design & Assembly approach that ha…
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 …
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…
Opportunities As Artifacts And Entrepreneurship As Design.
Design is the bridge between theory and practice, and between imagination and the market. It's the way entrepreneurs overcome uncertainty. Resolving u…
Opportunities As Artifacts And Entrepreneurship As Design – ENCAPSULATION
How does a business progress from an imagined opportunity - such as a new benefit for a customer, a new market to enter, or a new product or service c…
148. Diana Jones: The New Management Model — Guarding Group Relationships
Human action lies at the core of the application of Austrian economics to business: how do people act and how can we develop the best understanding of…
145. Christopher Habig: How Understanding Subjective Value Will Revolutionize the Medical Care Industry
The field of medical care is so ripe for new entrepreneurial solutions. As is always the case, solution design begins with understanding subjective va…
143: Per Bylund: How Austrian Entrepreneurs Succeed
Successful entrepreneurs are Austrians, they just don’t know it yet. This is a famous assertion from Dr. Per Bylund, and we dissect its meaning in …
141. Bharat Kanodia: How Subjective Value Generates Valuation In Business
All value is subjective. But often, when an exchange is to be made, a numerical value is required. It’s a special kind of economic calculation, what…
Value Proposition Design
What is it? Where the entrepreneurially imagined value is captured as potential customer value.
Adaptive Entrepreneurial Method: VUCA, OODA, IOT
Follow the downloadable tool.
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…
The Subjective Value Cycle
Become more successful by putting your customer first and understanding subjective value. Become more successful by putting your customer first and understanding subjective value.
137. Murray Sabrin’s 7-Point Entrepreneurial Solution to the Medical Care Crisis
Entrepreneurs solve problems for customers. There are few problems bigger than the horribly perverse medical care system under which patients suffer i…
Capital and Resources Design And Assembly
Capital and resources are valuable when they are generative: they generate a flow of preferred goods and services to the customer, which flows back to…
Value Network Partners
Consumers and customers interact not with single goods and services but with systems. The entrepreneur maps out the value generation system required to deliver the…
Sales and Marketing Design
Marketing strives for complete value alignment between the firm and the customer: identifying how the customer prefers to consume value, communicating to customers that a…
Selection of costs / P&L Design
Costs are not a given, they are a choice. Via research and imputation, entrepreneurs estimate customer willingness-to-pay, and choose the cost structure of their process…
Organization and Process Design
Organization is relational and includes both nodes (positions, departments) and the flows between them (processes, knowledge and information flows). For example, a rigid structure may…
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…
Value Proposition Design
The entrepreneur formalizes the value proposition using a structured or templated format, precisely describing the target audience in attitudinal / needs terms, the nature of…
136. Max Hillebrand on Free Software Entrepreneurship with Bitcoin
Entrepreneurs are developing a new world of innovative business models far from regulated markets, crony capitalism, and corporate control. It’s a new world of cyber…
135. Mark Packard: How to Put Time on Your Side
Entrepreneurial action occurs in time. This brings uncertainty, because of continuous change. We can’t know what will be our future result, yet we m…
Organization Design
In addition to the downloadable tool, follow these guidelines: Design your organization for flow not structure. Design to attract the most entrepreneurial people in the…
133. Ulrich Möller: The Video Game Industry Points to the Future of Organization Design
Austrian economics has a lot to say about how to organize firms for maximum value generation. Austrian principles point to the delegation of entrepren…
Price Discovery
Price discovery is a fundamental tool – customers set prices and entrepreneurs discover those prices based on the willingness to pay.
The Value of Things
Subjective value is key to understanding your customers’ wants and needs, and it’s a core principle of Austrian economics.
The Entrepreneurial Method
Use the following principles in conjunction with the downloadable tool. The Bird-In-The-Hand Principle: work with what you’ve got and can control, which she sums up…
Private vs. Public Venture Capital
Avoid accepting government funding of any sort and learn the key differences between private versus public VC. Avoid accepting government funding of any sort, and…
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…
Journeys In Journey Mapping
Practical tips and advice from an expert user of the Customer Journey Mapping tool.
Designing New Consumer Experiences
1. Liquefy information: A physical object’s information can be sent across space and time. When several information flows are combined for greater information density (e.g.,…
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…
Relational Contracting
Know the differences between the different types of contracts and then run an audit of your firm. Know the differences between the different types of…
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…
Capital Structure and Capital Flexibility
Entrepreneurs designing a firm’s capital structure should view their choices through the twin lenses of ownership and control. Debt and equity are the basic choices…
Running Your Business
Follow the principles in the graphic. Follow the principles in the graphic.
Value Facilitation in Contract Negotiations
Follow these principles in addition to the checklist provided in the Downloadable Tool section. Business negotiations are searches for shared value. Divergent thinking is a…
Jacqui Boland’s Entrepreneurial Journey
Go to the E4B website to calibrate your own eGPS. Jacqui’s is a general example you can follow. Go to the E4B website to calibrate…
Interventionism is Bad for Business
Read through the graphic and reviewnit often whenever faced with a decision regarding accepting government support. Read through the graphic and review it often whenever…
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…
Capital and Applying it to Your Business
Focus on the value facilitating from consumers who generate capital flow, measure flows in dollars, be a master appraiser and know your asset productivity, set…
Business Success with Austrian Economics
Run an audit of your business and see if these principles are being adhered to. Run an audit of your business and see if these…
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…
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…
Defying Knowledge Constraints with Crowds and Marketplaces
Every entrepreneurial business is a knowledge process. Businesses need to know what problems customers want to solve and the best means to solve them. However,…
Design & Assembly
The entrepreneur proceeds to design all components of the consumer experience (following the precepts of the Value Learning Cycle) and all components of the system…
Value is Subjective and Entrepreneurs Must Facilitate Its Creation
What does the term “value” mean in business and economics, and what are the market implications? What are the criteria for entrepreneurs to follow to…
How Entrepreneurs Optimize Attributes and Timing in Their Asset Combinations
The task of an entrepreneur is to specify combinations of assets to meet consumer preferences. Since these preferences are ever-changing, asset combinations need to be…
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…
125. Steven Phelan on Innovation In Contracting
Entrepreneurs seek to provide markets with new value through innovation wherever they can identify an opportunity. Their vision is broad enough to inc…
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.
Decision-Making
Actively seek the judgement of your entire business when it comes to making decisions that requires specific knowledge you may lack.
Process-Based Skills of Negotiation
Apply these Austrian principles; individualism, empathy, and entrepreneurial mindset. Understand value and communicate it clearly, establish a negotiation culture, practice, and be friendly and approachable.
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.…
Build a Successful Business
Aim to please, offer new and better products that can’t be found elsewhere, build on your strengths, and maximize value not output.
Needs Knowledge and Technical Knowledge
Think like a customer and a producer, then combine and compound your knowledge.
Shift Customer Behavior in Your Favor
Gather customer insights to understand their motivations, values, and attitudes. Identify your core target, organize your data into a visual or composite profile, use the…
Entrepreneurial Flywheel
Find intrepid finance from financiers who are strong supporters of your vision, this includes friends and family. However, avoid banks because they are only interested…
Avoid the Errors of UN-trepreneurship
Focus on serving customers, understand subjective value, view pricing as a discovery process, and follow the entrepreneurial ethic.
Financial Capital for Your Business
Weigh your options.
121. Bill Sanders: How Creative Conflict Expands the Value Pie
Bill Sanders, an expert in contract negotiation in business, applies Austrian Principles in dealmaking and business relationship management.
Iteration
Take time off to self-assess strengths and areas of improvement, identify your skills, constantly improve and refresh certifications, and find a business partner with a…
Facilitating Value via Skilled Orchestration
Build relationship capital, employ the latest tech, dedicate all your customer’s needs in one place, have experience in customer value, and become a systems thinker.
Value Learning Process for Value Experience
Monitor and track customer behavior and listen to the ones who pay the most attention. Find the customers who are most dissatisfied with the current…
An Austrian Financial Services Business Case Study
Use as a reference.
8 Actions to “Austrianize” Your Business
Create your own checklist using this template. Create your own checklist using this template.
