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 …
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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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No-One Understands How Systems Work.
You may have been listening to economists debating and arguing about the state of the economy and the future of inflation. Are we in a recession or not? What will the economy look like next year? What …
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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? The answer is emphatically yes. B2B customers are …
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The Road To Stagnation: Why Government Is The Enemy Of Economic Productivity.
The federal government is planning to hire an additional 87,000 IRS agents. Some of them may be armed. This is not the action of a friend or partner. It is central to government’s anti-economic …