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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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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