At Economics For Entrepreneurs, we believe that everyone can be an entrepreneur, should they choose to do so. It may take you some time to find exactly your best niche, and a few experiments may be in order. The right mindset, we propose, is to pursue your entrepreneurial goal with belief and commitment, while being sufficiently adaptive […]
What attributes do great entrepreneurs have? An entrepreneur plays the role of identifying a need, imagining a future where that need is met, and taking action to assemble the right resources to deliver a product or service which meets that need. The individual who thrives in this role exhibits some special character traits and personal […]
Today we talked with Peter Klein about empathy – a critical tool in the entrepreneur’s toolbox. It’s through empathy that entrepreneurs can get into the customer’s mind, understand and identify their needs and wants from their perspective and in their perception. This is the skill that enables the design of new products, new services, new […]
In our podcast episode, The Role Of The Entrepreneur, Peter Klein presents us with the idea of Entrepreneurial Empathy – the notion that entrepreneurs can get into the customer’s mind, understand and identify their needs and wants from their perspective and in their perception. The tool we’ve created is designed to give you a framework for conducting and analyzing in-depth […]
In our podcast episode on Entrepreneurial Specialization, Bob Luddy explains his path to entrepreneurship in detail, and uses the “Effectuation” model as a lens to describe the start of his entrepreneurial career. Effectuation is a theory of entrepreneurship that starts with self-identity and self-resourcing. The “problem to be solved” emerges later in the process. The […]
It’s a fallacy for an entrepreneur to believe in chasing the biggest possible audience or the largest possible market. Why? Because your business will get pulled in the direction of “all things to all people”, and you may end up pleasing none. The opposite rule applies: identify and gather specialized knowledge, and apply it in […]