Value Creators
Welcome to the Value Creators podcast, the ultimate destination for business enthusiasts seeking to unlock the secrets of success through the lens of Austrian economics. Join Hunter Hastings and a variety of insightful guests as they delve into engaging conversations with business owners and esteemed practitioners from leading business schools.
In each episode, the Value Creators podcast goes beyond the surface-level discussions of traditional business strategies and explores the profound impact of Austrian economics on the world of entrepreneurship. Drawing upon the rich principles and theories of this school of thought, our host uncovers hidden gems and actionable insights to help listeners improve their businesses.
With a keen focus on value creation, this podcast aims to inspire and empower listeners to elevate their businesses to new heights. By exploring the ideas of Austrian economics, which emphasize individual decision-making, market dynamics, and the importance of entrepreneurship, our interviews shed light on innovative strategies and approaches to succeed in today's dynamic business landscape.
We'll present a diverse range of guests, including successful business owners who have effectively applied Austrian economics principles to their enterprises. Listeners will gain invaluable knowledge about strategic decision-making, market-driven innovation, and the importance of understanding human action in business contexts.
Additionally, the podcast features discussions with esteemed practitioners from renowned business schools. These experts provide listeners with a broader perspective on how Austrian economics can be effectively integrated into business curriculums, enabling aspiring entrepreneurs to sharpen their skills and gain a competitive edge.
Whether you're a seasoned business owner, an aspiring entrepreneur, or a curious mind intrigued by the intersection of Austrian economics and business, the Value Creators podcast is your go-to resource. Tune in to each episode to explore thought-provoking discussions, actionable advice, and captivating stories that will inspire you to unleash your full business potential.
Are you ready to uncover the secrets of successful businesses through the principles of Austrian economics? Join us on the Value Creators podcast and embark on an enlightening journey that will revolutionize the way you approach entrepreneurship.
Value Creators
Episode #26. 11 New Mental Models for Business
Mental models are defined as fundamental assumptions that shape the way individuals perceive and interact with the world. When our mental models are wrong, we can’t see the world as it really is. New mental models introduce a new and better understanding. This episode of the Value Creators podcast introduces eleven fundamental mental models, ranging from understanding value as a subjective creation within the minds of customers, to the strategic accumulation of knowledge within a firm, to the pivotal role of empathy and the transformative nature of marketing as behavior. Each mental model contributes to a new holistic paradigm designed to guide entrepreneurs in creating sustained value.
Mental models contribute to the necessary shift in business mindsets towards a dynamic approach that emphasizes the continuous flow of experimentation and the ongoing refinement of knowledge through error correction.
Resources: Hunterhastings.com
Shownotes:
0:00 | Intro: Choosing Right Mental Model for Success
02:43 | Mental model Number 1: Value is Created by the Customer
04:07 | Mental Model Number 2: Knowledge
05:13 | Mental Model Number 3: Empathy
06:23 | Mental Model Number 4: Marketing
07:26 | Mental Model Number 5: Design
08:15 | Mental Model Number 6: Innovation
09:30 | Mental Model Number 7: Entrepreneurship
11:08 | Mental Model Number 8: Finance and Accounting
12:13 | Mental Model Number 9: Organization
13:08 | Mental Model Number 10: Business is a Flow
14:05 | Mental Model Number 11: Knowledge Accumulation
15:20 | Wrap-Up: Value Creation For Customers
