198: Catherine Kaputa: The Brand of You
Brands are prized by corporations as significant value-driving economic assets. Brands help customers enjoy more valuable experiences, raising willing…
eGPS Pin: Marketing
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.
184. Rick West: When B2B Goes Click-To-Cart
Do the principles of customer value generation that we espouse in our Economics For Business program apply equally for both B2C and B2B businesses? Th…
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…
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 …
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…
The Austrian School Of Marketing
The Austrian School of Marketing
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…
159. Rory Sutherland: An Austrian School of Marketing
In praxeology, subjective value theory, customer sovereignty, and ordinal value stacks, he identified the building blocks of a marketing approach for …
149: Victor Chor: The Journey From Flipping to Global High-Tech Brand Building
Entrepreneurship is fulfilling and exciting and inspiring. It’s fun. It’s learning. It’s a sense of achievement. It’s a journey.
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…
Customer Experience / Relationship Management
The customer experience extends beyond transactions into use and consumption, and the later cycles of the value learning process. Relationship management monitors the evolving experience…
Marketing and Sales Implementation and Support
Marketing and sales implementation are critical to customer relationships and therefore to future value streams. Marketing aims at triggering transactions, and sales is engaged in…
Employee Handbook / Internal Marketing
The systems of internal rules or value codes that guide employees to generate customer value without ordering them are fundamental to firm performance. The emergence…
Communication, packaging and presentation
The firm’s communications delineate the positive emotions and benefits that can potentially be experienced in the consumption of the goods and services the firm offers.…
Channel Management
The firm’s stream of goods and services reach customers through distribution channels (including the direct channel). Customers’ deem their experiences in the channel to be…
Value Facilitation and Brand
Customers create value in their experiences, and the role of the entrepreneurial firm is to facilitate the experience. Value conceptualization and value facilitation constitute one…
Marketing Model
The marketing model aligns the 4 V’s business model with the customer via facilitation of inbound communication of preferences, alignment of value propositions to these…
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…
Marketing As Promise Management
The goal for marketing is to engage the firm with the customers' processes with an aim to support the value creation in those processes, in a mutually…
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…
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…
Co-Navigate Value Uncertainty in Healthcare
Follow the guide. There are 6 principles that should be allowed; consumers need to be proactive in their health, hospitals and practices should allow different…
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…
Keep Customers In Sight
Follow the chart and compare and contrast with how things are run in your business. Your business model should be centered around facilitating consumer value.…
Marketing
In the Austrian business paradigm, marketing is not a function or a department or a set of techniques, it is the orientation of the entire…
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…
124. Irene Ng: Designing New Consumer Experiences in the Era of IoT
Value is not derived from functional use, but is the good feeling the consumer experiences during consumption. Consistent with the Austrian understand…
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.…
Multiply Value via Austrian Economics
Experimentation and iteration.
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.
Economics of Value versus Economies of Scale
Learn the differences and apply which principles adhere to your business model. Learn the differences and apply which principles adhere to your business model.
Agile and Austrian Economics
Use when reassessing or designing your business model. List the ways your business is using resources and time inefficiently. Use when reassessing or designing your…
Agile Laws
Use Agile and Austrian principles as a guide throughout your entrepreneurial journey. Use Agile and Austrian principles as a guide throughout your entrepreneurial journey.
Marketing via Austrian Economics
Observe your marketing from the customer’s point of view and use empathy; don’t annoy them, recognize that the customer is in charge, and always give…
Executional Excellence
In the planning phase of any business, project or initiative. Refresh whenever executional errors occur. In the planning phase of any business, project or initiative.…
B2B vs. B2C
Use this as inspiration during the Imagination stage of the eGPS.
Transaction Costs Calculator
Maximize your profits by calculating your transaction costs in three phases. Maximize your profits by calculating your transaction costs in three phases.
Customer Journey Mapping Tool
A design tool to use when you are aiming to design or improve or repair a customer experience. A design tool to use when you…
Decision Logic for the Customer’s Learning Process
Use predictive logic or adaptive logic, information marketing, opportunity cost calculator, and the Value Learning Process. Use predictive logic or adaptive logic, information marketing, opportunity…
The Austrian Business Paradigm
Facilitate value for customers (listen to your customer), value is actually determined by your customers and they determine what price to pay, use empathy to…
10 Economic Principles for a Customer-First Business
Learn these Austrian principles in the Imagination stage. Learn these Austrian principles in the Imagination stage.
Brand Building
A team effort (not just marketing team) to establish a brand foundation for all company members to follow. A team effort (not just marketing team)…
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…
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…
95. Martin Lünendonk: How To Make The Customer Your Boss
Consumer sovereignty is a principle of Austrian economics. Here’s how entrepreneurs apply the principle in business, as told by Martin Lünendonk, c…
90. Per Bylund On A New Austrian Business Paradigm: Facilitation Of Value
In our project to make a useful link between Austrian economic theory and business practice, we earlier introduced the Austrian Business Model. This i…
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…
88. David K. Hurst: Managing People-As-Ends and not People-As-Means.
In many situations, the complexities in managing a diverse and layered team of people is to view individuals as ends and not means.
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…
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…
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.…
71. Sanjay Yadav on the Process-Based Skills of Negotiation
Negotiation is an important economic process. The results of negotiation can significantly influence outcomes for all businesses. There are costs to a…
67. Trini Amador: The Business Tools to Shift Customer Behavior in Your Favor
Every successful business is built on empathic understanding of customers’ preferences. As we know from the theories of Austrian economics, the pref…
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 …
52. Mark Schaefer: The Future of Marketing Is Austrian – How Human-Centered Marketing Can Fix A Business Function That Has Lost Its Way.
This week I spoke with Mark Schaefer about his iconoclastic and deeply insightful book Marketing Rebellion, in which he expounds the solution to moder…
48. Chris Casey’s Journey To A Distinctively Austrian Financial Services Business
Learn how directly Austrian Economics can be applied in entrepreneurial business design. A creative founder of a financial services firm demonstrates …
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 …
30. Trini Amador on Brand Building
Every entrepreneurial firm can be a brand owner. In the next episode of Economics For Entrepreneurs podcast, we describe in detail a process for build…
29. Per Bylund on the Critical Importance of Executional Excellence and How To Achieve It
Have you heard about the Knowing-Doing Gap? It’s the gap between a firm knowing what needs to be done, and executing with excellence to get it done.…
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…
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…
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…
13. Per Bylund on Subjective Value
Per Bylund talks to Hunter Hastings about the value-centric model for successful entrepreneurship, and we provide an infographic to help you apply the model to your own…
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…
2. Trini Amador on the Role of Values in Business
How can entrepreneurs diagnose and understand these idiosyncratic choices and take cognizance and advantage of them in business? This week we talked w…
