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 many creative ways to expand the value potential of …
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. That’s a very broad statement, of course, so it’s instructive to observe how individual entrepreneurs …
The Long Night Of Mathematicized Economics Is Over.
Sometime in the 19th century, economists got the idea that mathematics was an appropriate language for economics. This was a strange turn, since economics is the science of how human beings, pursuing …
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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 good job in the customer’s estimation. This is a …
186. Jared Wall: How a Courageous Entrepreneur Enters a Formative Market
How do new markets form? When consumers change their tastes and preferences and behaviors, how are the markets to serve them activated? The markets don’t yet exist — entrepreneurial action is required …
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185. Jessica Fialkovich On The Business Of Selling Businesses
Every business should have an exit plan in mind from Day 1. Why? Because it’s impossible to control the timing of an exit or the changes in circumstances that might precipitate it. Venture capitalists …
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