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…
eGPS Pin: Imagination
Opportunities do not exist in any objective sense. They are not “out there” for entrepreneurs to seize or to compete for. The role of the entrepreneur is to imagine a set of future conditions in which customers are more satisfied than today, and which the entrepreneur can organize for a profitable outcome. Imagination is the entrepreneur’s first resource.
197. Phil Johnson: Entrepreneurs Demonstrate A Special Emotional Intelligence
Business success goes beyond numbers and planning and finance acumen. There’s an emotional component to it, ranging from the courage to make decisio…
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 …
188. Jordan Lams on Finding and Patiently Developing Your Entrepreneurial Focus
We define entrepreneurship in terms of people working creatively to make others’ lives better.
187. Per Bylund: The Austrian School Approach to Business versus the Business School Approach
Business is a form of applied economics. Its purpose is to make people’s lives better. Profit is the signal from society that business is doing a go…
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 …
176. Peter Lewin and Steven Phelan: How Do Entrepreneurs Calculate Economic Value Added? Subjectively.
At the core of the entrepreneurial orientation that is the engine of vibrant, growing, value-creating, customer-first businesses, we find the principl…
175. Curt Carlson: Value Creation as a Life Skill
Curt Carlson has devoted his life to value creation and innovation — VC&I as he sometimes characterizes it. He has been CEO of SRI, a “pure innov…
174. Sterling Hawkins: Discomfort Is Your Most Valuable Feedback Loop
Negative feedback loops give us the opportunity to improve our service delivery capacity, and the value proposition behind it. Sterling Hawkins has id…
173. Rene Rodriguez: Unleashing Voluntary Energy Via Influence
n we persuade a customer to switch to our brand or service? Can we get the board or the C-Suite to approve our proposal? Can we convince a VC to fund …
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 …
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…
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…
How Ideas Emerge And Flourish
By Bruce Koerber Entrepreneurs’ ideas are imagined and emergent. How do they become material? Through the entrepreneurial design process. Bruce Koerber depicts this process for…
155. Bart Vanderhaegen on Flow: Transcending Organizational Barriers to Progress
Organizational structure is often a barrier to flow. Bart Vanderhaegen tells Economics For Business how to transcend the barrier.
151. Mark Packard On Entrepreneurial Imagination: You Can’t Do Business Without It
agination is the first stage of any value generation journey — starting a development project, enhancing the customer experience, embarking on innov…
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 …
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…
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…
139. Fabrice Testa on Super Entrepreneurship
Entrepreneurship is a method, and it’s also a mindset. Fabrice Testa has written a book that brilliantly integrates the two: he calls the integratio…
How Austrian Economics Made Bob Luddy Successful
Learn about Say’s Law, subjective value, comparative advantage, opportunity cost, and pricing. Learn about Say’s Law, subjective value, comparative advantage, opportunity cost, and pricing. Five…
134. Per Bylund: The Unrealized
Understanding The Unrealized requires us as entrepreneurial businesspeople to think better, and to resist settling for what is merely feasible in a re…
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…
Knowledge Entrepreneurship
The Entrepreneurial Method. This unfolding timeline is an excellent example of the entrepreneurial method at work. Start with what you know Find motivation in what…
The Value of Things
Subjective value is key to understanding your customers’ wants and needs, and it’s a core principle of Austrian economics.
130. Eamonn Butler’s Primer on Entrepreneurship and Its Social Good
Entrepreneurship is the great force for social good — in fact, the greatest force for good in the history of civilization. It’s the system of…
Capitalism vs. Cronyism
Learn the definitions of capitalism and cronyism. Learn the definitions of capitalism and cronyism.
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…
How Economics Drives Entrepreneurship
Ask these five questions from the chart. Ask these five questions from the chart.
Reframing Entrepreneurship for New Audiences
Teach entrepreneurship through the lens of cultural icons like Seinfeld and learning about circumstances and culture of disadvantaged communities by using examples they can relate…
Entrepreneurship Research
Focus on facilitating value for customers instead of shareholders. Focus on facilitating value for customers instead of shareholders.
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…
Entrepreneurial Journeys Start at the Family Dinner Table
Talk about entrepreneurship at the family dinner table to help spark inspiration. Find the right mentor who can help develop a young person’s skills and…
Self-Assessment
Entrepreneur’s self-examination for guidance as to what role to play in value generation, both individually and collaboratively.
Dissatisfaction
Dissatisfaction is an unconscious contribution of the consumer or customer to the value generation system. It indicates a non-specific pointer towards the potential for new…
Imaginary Construct
The entrepreneur constructs an imaginary business model of consumers experiencing new value, willingness to pay, imputed revenue streams, and assembled resources to generate the valued…
Validation Research
The entrepreneur conducts some kind of external or 3rd party research as a first step in the validation process. The process might consist simply of…
Peer Evaluation
The entrepreneur considers the business cases of other entrepreneurs, either via direct contact / dialogue, or via secondary research.
Value Refinement
The entrepreneur utilizes the knowledge and learning accumulated to this point and critically examines the emerging value proposition and business model, with a view to…
Imagination
Opportunities do not exist in any objective sense. They are not “out there” for entrepreneurs to seize or to compete for. The role of the…
126. Joe Matarese Defines a Whole New Level of Customer Value to Build a High Growth Service Firm
Firms that can unlock the deep secrets of subjective value can unleash powerful, long-lasting value streams. When these flow in a confluence with well…
Entrepreneurship Brings Meaning and Purpose to Life
Focus on brainstorming ways to make meaningful contributions to your community. Focus on brainstorming ways to make meaningful contributions to your community.
The Role Of Imagination In Business
Pictures of some future states of the world are created by individuals through mental representation. It is a pragmatic process that unfolds in time i…
Types of Entrepreneurs
Think about the types of entrepreneur lifestyle that suits you. Think about the types of entrepreneur lifestyle that suits you.
Entrepreneurial Innovation in Seven Principles
Use for entrepreneurial innovation inspiration. Use for entrepreneurial innovation inspiration. The Inspiring Life And Beneficial Impact Of Entrepreneurs Tool Link
Decision-Making
Actively seek the judgement of your entire business when it comes to making decisions that requires specific knowledge you may lack.
Needs Knowledge and Technical Knowledge
Think like a customer and a producer, then combine and compound your knowledge.
Contextual In-Depth Interview Method
When collecting qualitative information from customers and consumers, it’s important to locate the conversation in the relevant context without making it feel like an interview…
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…
Entrepreneurship in Theory and in Practice
What theories are you applying in your business design? It’s important to have them clear in your mind. Begin with the assumptions that are inherent…
Path To Success
Work through Jason Whitlock’s 10-step process to review and refine your imaginary construct.
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…
Entrepreneurial Intelligence To Refine Your Imaginary Construct
There are refinement tools that are subjective and qualitative rather than digitally intelligent. Can you identify the spark of creativity in your imaginary construct? Can…
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.…
Entrepreneurial Leadership via Austrian Economics
This is a life tool. Find your passions early: requires analytical thought about what you love. Discover new knowledge combinations in your passion space. For…
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…
A Path to a Better Life
Learn these principles then pass it on via practical business application in your community, and serving your friends and neighbors.
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…
Empathy Techniques for Market Research
Conduct conversations with customers at least every week. Isabel includes conversations in the customers’ homes or offices, conversations in your offices, and face-to-face (including digital…
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 N-A-B-C
Curt Carlson is the world’s leading expert practitioner in innovation. He is the founder and CEO of Practice Of Innovation, LLC, and was President of…
Build a Global Business
Do your research to find a promising industry, find customer problems to solve, and create a value proposition. Do your research to find a promising…
Seeing the Business World More Clearly
Use this as a guide to help you build your entrepreneurial journey to success. Use this as a guide to help you build your entrepreneurial…
Entrepreneurial Journey
Imagination stage – develop awareness that the entreprenurial journey will not be predictable, and that taking action is the key to starting it and advancing…
The Entrepreneurial Ethic
Learn the entrepreneurial ethic then always ask what your customer will think of any action you take. Is it useful and valuable for them? Learn…
STARS
Who am I? What do I know? Who do I know? What are my resources? These are questions suggested to entrepreneurs by effectuation theory. It…
Ikigai
Personal self-assessment. Personal self-assessment.
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…
Self Assessment
Become a better entrepreneur by becoming more self-aware and taking these self assessments. Become a better entrepreneur by becoming more self-aware and taking these self-assessments.…
8 Traits Of Austrian Entrepreneurs
Use this self-assessment tool to determine if entrepreneurship is right for you. Use this self-assessment tool to determine if entrepreneurship is right for you.
Entrepreneurial Empathy
Use this interview process and apply empathy to help you improve your customer experience and ultimately your product.
Effectuation Process
A specialization discovery process to help you find your niche and increase your chances of higher profits and long-term success. A specialization discovery process to…
118. Per Bylund on the Importance of Good Theory for Good Business
Only when you have mastered theory can you master the navigation of specific situations, and be confident in your good decision-making and judgment.
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…
115. Bart Jackson on How to Be CEO
From all of this data, processed via his empathic diagnosis, Bart takes two perspectives on the CEO: the job and the person in it.
10 Economic Principles for a Customer-First Business
Learn these Austrian principles in the Imagination stage. Learn these Austrian principles in the Imagination stage.
Entrepreneurial Leadership via Understanding Economics
Use this as inspiration for starting your entrepreneurial journey. Use this as inspiration for starting your entrepreneurial journey.
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…
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…
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…
107. Ivan Jankovic: The Special Understanding of Entrepreneurship by Americans of the Austrian School
Austrian economics has always been on the leading edge of innovative thinking applicable to business. Back in the last century, there was a group of…
106. Mauricio Miller: Entrepreneurship as the Path Upwards From Anywhere, for Anyone
Social services are the worst policy for such people. Entrepreneurship will open up the pathway out of the neighborhoods and out of the traps of low i…
100. Jeff Deist: Animating Economics to Serve Real People and Real Businesses
Economics is treated by many as an arid field of mathematical modeling. Human beings are treated as data in the model, almost the way physics regards …
