In an attenuated Christmas Eve podcast, we highlighted four of the useful principles we covered during 2019. Principle 1: Customer Sovereignty – Which Means Putting Your Customer First. The economists call it customer sovereignty – the principle that it is the consumer who ultimately decides which businesses are successful and which are not, as a […]
Entrepreneurs are redrawing the Customer Journey Map. Based on the latest knowledge from both economics and neuroscience, Dr. Mark Packard explains the five stages of the Value Learning Process on today’s episode.
When is entrepreneurship like being in a bar fight? Vito Bialla describes his own entrepreneurial experience and tells us how he assesses start-up CEO’s for his venture capital fund. Don’t miss his bar fight story!
Good economic theory predicts effective, cutting edge business practices. For example, the dynamic flexibility of capital resource allocation predicted by Austrian Capital Theory is being realized today via digitization, dematerialization and agile organizational innovations. Entrepreneurs who fully embrace Austrian theory can be leaders in the field of business implementation.
Austrian economics emphasizes the delivery of value for consumers and customers. Only they can define value, because it’s their subjective experience that is valuable to them. Listen to Stephen Denning using the example of Spotify to illustrate the agility of a modern firm – recognizing the unarticulated need of consumers for mobile on-demand music, delivering “1000 songs […]
Our proposition is that the fundamentals of economics – a special humanistic, individualistic, entrepreneurial economics we call Austrian – can be the building blocks of a successful, growing, profitable business that understands and therefore delights its customers. Can you identify these fundamentals?