The Economics for Business Podcast

A podcast based on the winning principle that entrepreneurs need only know the laws of economics plus the minds of customers. After that, apply your imagination.

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32. James Beardsley: Seeing the Business World More Clearly

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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 had discovered Austrian Economics, he saw more clearly how to succeed in reaching his goal.
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31. Per Bylund on Big Data vs. Big Ideas

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Wouldn’t it be nice to predict the future? It’s tempting to reach for the analytical tools and big data sets that are newly available and for which big claims are made regarding their predictive capabilities. For entrepreneurs, small businesses and corporate innovation teams, rich qualitative data are far more relevant and collecting these data is far more productive. By this we mean talking to customers and potential customers, observing behaviors rather than collecting clickstream data, and immersing yourself in the unpredictable subjectivity of the consumer.
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30. Trini Amador on Brand Building

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Every entrepreneurial firm can be a brand owner. In the next episode of Economics For Entrepreneurs podcast, we describe in detail a process for building strong brands – capable of delivering faster, longer, more reliable and less volatile cash flows for brand owners.
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29. Per Bylund on the Critical Importance of Executional Excellence and How To Achieve It

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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. Closing the gap is the essence of entrepreneurship. Business ideas are not scarce, executional excellence is.
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28. Steve Phelan on Negotiation As A Core Capability For Entrepreneurial Success

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Negotiation is a capability that entrepreneurs use almost all the time. It’s an area of entrepreneurial performance where an understanding and application of Austrian Economics can be very helpful. 
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27. Cheryl and Cliff Pia on the Economics of Creativity

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Every entrepreneurial initiative is creative. There’s also an entire creative industry in which entrepreneurs can participate and succeed. Today we follow the journey of two very successful founders - Cheryl and Cliff Pia of The Pia Agency.
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26. Per Bylund on the Entrepreneurial Opportunity of B2B versus B2C

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Dr. Bylund observes that students, when selecting entrepreneurial projects for his course, lean heavily towards consumer products and services. Does this represent smart entrepreneurial thinking, or not? Is it biased by (lack of) marketplace experience?
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25. Peter Klein on Organizational Designs

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Organization can make a crucial difference to entrepreneurial success. Ideas alone are not enough – execution is needed and the details of execution are important. The entrepreneur must design an organization for detailed, effective and efficient execution.
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24. Dr. Smita Bakshi: An engineer, passionate about her mission, makes an impact by combining what the world needs and what the world will pay for.

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What is the nature of the journey from growing up in India and Africa, to an education in America and the successful founding, growing and managing a high-impact ed-tech business that helps instructors teach and students learn computer science? The answer is: it’s not direct, and it’s not planned from start to finish.
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23. Per Bylund on Entrepreneurial Strategy

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Business strategy in books and business schools has tended to towards metaphors of sports or war. There are playing fields or battlefields, and the strategy question is “Where to play, and how to win?”
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22. Steven Phelan on Managing Expectations

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Entrepreneurs operate in the future. They imagine a future where…
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21. Peter Klein on Transaction Costs

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Are you transaction cost-savvy? Peter Klein explains why it’s important.