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Hunter Hastings

Articles by Hunter Hastings

Trini Amador: The Business Tools to Shift Customer Behavior in Your Favor

3 days ago

Every successful business is built on empathic understanding of customers’ preferences. As we know from the theories of Austrian economics, the preference scales of every individual are highly subjective, idiosyncratic, context-dependent, and highly changeable. How does an entrepreneur develop the appropriate level of understanding? Can this understanding be a source of business-building advantage? We talked …

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David Bienstock on the Business of Politics

17 days ago

Key Takeaways and Actionable Insights When we talk about entrepreneurial alertness to opportunity, it can sound pretty vague. What exactly does that mean? How is alertness translated into profitable action? This week’s guest, David Bienstock, provided us with a very precise example. He had just started his media buying services business when a phone call came …

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Mark Packard: The Customer’s Value Learning Process

April 21, 2020

Key Takeaways and Actionable Insights Innovation and marketing are the two most important functions of entrepreneurial business: bringing innovative new goods and services to market, and convincing customers of their value. On the E4E podcast, we are providing a detailed exposition of Professor Mark Packard’s deep analysis of exactly how customers arrive at, and act …

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Rory Sutherland: How The Austrian Approach Helps Entrepreneurs Multiply Value

April 7, 2020

Key Takeaways And Actionable Insights In episode 60, we are joined by Rory Sutherland, Vice Chairman of Ogilvy, one of the world’s largest advertising and marketing agencies, one with a long tradition of customer insights. His latest book is titled Alchemy, which explores how a deep understanding of subjective value can lead to outstandingly effective …

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Sean Ring: What Successful Entrepreneurs Understand About Iteration

March 31, 2020

Hunter Hastings asks Sean Ring, Finlingo Co-founder and CEO, for his number one secret for entrepreneurial success. His answer: Iteration. Sean offers additional insights, as we’ll see below, but the power of iteration is his number one: doing things over and over, with a view to improving. Always learning, always changing, never getting tired of …

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This Is Not a Recession—This Is a Government-Imposed Shutdown of the Private Sector

March 30, 2020

Economists and Wall Street analysts are using the word recession to describe the looming plunge in output in the US economy. We’ll just make the point early that economists, exhibiting the typical emptiness of their failed science, can’t even agree on the definition of recession. Undeterred by lacking a definition, the geniuses at Goldman Sachs and elsewhere on Wall …

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The Use of Knowledge in Entrepreneurship

March 25, 2020

In a recent episode of the Economics for Entrepreneurs podcast, I interviewed Steve Mariotti, who has spent a lifetime teaching entrepreneurship to kids from difficult and troubled backgrounds in the US, as well as the sons and daughters of parents who lived through the USSR and Vietnamese communist regimes. He portrayed entrepreneurship as an escape from …

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John Cox: Facilitating Value Through Skilled Orchestration

March 24, 2020

Key Takeaways and Actionable insights Entrepreneurs make orchestration a value-producing service. Entrepreneurs don’t necessarily need to own the capital and resources required to deliver value. What they do is organize capital in a new way to facilitate a new value experience for customers. They orchestrate capital, resources, people, skills and technologies. Their orchestration creates a …

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Steve Mariotti: Teaching Entrepreneurship as the Universal Route to a Better Life

February 25, 2020

Can entrepreneurship be learned? We’d like to believe it can, since entrepreneurs drive economic growth — creating tomorrow as Per Bylund puts it — and betterment for their individual customers and for society. Emergent circumstances placed Steve Mariotti in the position of teaching entrepreneurship to boys and girls in the nation’s toughest high school. After some trial …

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Mark Schaefer: The Future of Marketing Is Austrian

February 11, 2020

Hunter Hastings and Mark Schaefer discuss how human-centered marketing can fix a business function that has lost its way. Key Takeaways and Actionable Insights Marketing has lost its way — in its current state, it’s no longer a useful business growth tool for entrepreneurs.  An obsession with technology has eclipsed the focus on people and …

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David Rapp on Harnessing Accounting to Your Purpose

February 4, 2020

When we asked international technology entrepreneur Paul Tenney about the pre-requisites to entrepreneurial business success, he said, “Learn accounting”. Accounting — or economic calculation — is one of the four pillars of entrepreneurship. And when it’s viewed through Austrian eyes, it becomes a more powerful business tool than, perhaps, you might have realized. Whether we …

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John Rossman on the Principles and Mechanisms of Business Growth

January 29, 2020

John Rossman is an advisor who helps leaders compete in the digital era, by crafting and implementing innovative digital business models and capabilities. He was an executive at Amazon and launched the third party selling platform–in that way,he probably directly helped a number of our listeners become successful entrepreneurs. And he is the author of …

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Chris Casey’s Journey to a Distinctively Austrian Financial Services Business

January 14, 2020

Innovation often emerges from the combination of existing components in new ways. In Chris Casey’s case, the new combination was his knowledge of Austrian Economics — specifically Business Cycle Theory and Monetary Theory — and of Finance. He invested a great deal of time and effort into mastering both parts of this knowledge combination. Key …

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John Chisholm: The Tools and Techniques for Success in the Entrepreneurial Process

January 7, 2020

John Chisholm is the author of Unleash Your Inner Company: Use Passion And Perseverance To Build Your Ideal Business. Entrepreneurship is a process. Taking this view enables successful navigation over time, whatever the interim ups and downs. Sometimes the process can feel like stumbling through a jungle, tripping over rocks and vines, always picking yourself …

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Eight Actions You Can Take Now to “Austrianize” Your Business

December 31, 2019

Entrepreneurship is action. It’s a process in which the actions of the entrepreneur are decisive. In the final podcast episode of 2019, Hunter Hastings suggests eight action steps you can take for the betterment of your business in 2020 and beyond. 1. Conduct an Empathic Diagnosis The entrepreneur’s first job is to understand the customer, …

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2019 In Review: Four Principles Of Austrian Economics You Can Usefully Apply To Your Business

December 24, 2019

In an attenuated Christmas Eve podcast, we highlighted four of the useful principles we covered during 2019.  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 result of their purchasing …

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Mark Packard on the Value Learning Process

December 17, 2019

To be able to adopt new ideas and successfully apply new techniques, it is sometimes necessary to discard old ones that are barriers to clear thinking. The theory and vocabulary of value illustrate one such barrier. The language of business schools and many business books is that firms and entrepreneurs create value. That terminology implies …

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Vito Bialla Defines a Core Attribute of Entrepreneurship

December 10, 2019

Immediately after he arrived home from fighting in the war in Vietnam, Vito Bialla started his executive recruiting firm, Bialla & Associates, from scratch. He built it into a professional partnership of the highest repute at the highest level (recruiting CEOs and other C-Suite positions) for the largest global corporations. He also started (and sold) a sportswear …

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Stephen Denning: There’s a Revolution in Value — It’s Austrian and It’s Agile

November 26, 2019

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. Stephen Denning, author of The Age Of Agile, explains how entrepreneurs can exercise the “Agile” mindset, and offers insight into how Austrian principles inform the latest generation of business …

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Professor Arthur Diamond on Sustaining Innovative Dynamism

October 22, 2019

This week, while keeping our eye on our highest value — entrepreneurial success — we raise our focus to the system level and the meta-ideas that sustain entrepreneurial effort and Austrian innovative dynamism. Key Takeaways and Indicated Action Professor Arthur Diamond has written a wonderful book about nurturing the system in which we entrepreneurs operate. The …

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Chris Wilton’s Recipe For Success

October 15, 2019

Is there a recipe for entrepreneurial success? Chris Wilton has established a successful and growing catering business, and the recipe he developed has some ingredients that every entrepreneur can utilize. Key Takeaways And Actionable Insights Economists (e.g. Murray Rothbard in Man Economy and State) often talk about the recipe that entrepreneurs develop for business growth …

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Isabel Aneyba: Listening From the Heart and the Techniques of Empathy

October 1, 2019

Per Bylund teaches us to explore the only two fields that matter for entrepreneurial success: understanding the laws of economics and understanding the mind of the customer. Isabel Aneyba is an expert in the techniques of empathic diagnosis that yield the understanding of the customer’s mind, and she shares these techniques — and her success in …

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James Beardsley: Seeing the Business World More Clearly

September 24, 2019

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. Hunter Hastings and James discuss the principles of Austrian Economics that …

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Trini Amador on Brand Building

September 10, 2019

In Austrian Capital Theory, Brands are valuable financial assets. Brands are architected in response to the subjective value preferences of consumers, and the more accurate the responsiveness, the higher, faster, longer and more reliable are the future cash flows. Brands are promises of value and, when the promise is kept, the result is delighted, enthusiastic …

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