081 – Effective entrepreneurship

In this episode, I explore three ideas about effective entrepreneurship:

  1. the most effective entrepreneurs create a platform for others to build upon and benefit from, one that users can interact with on a continuing basis (e.g., Apple’s iPhone, Leggos, Skype) ;
  2. effective entrepreneurs understand the game they are playing (i.e., what constitutes visible progress and success); and
  3. effective entrepreneurs enlist a hierarchy of benefits in their offerings (e.g., financial, economic, social, psychological).

Overall, effective entrepreneurship is about successfully converting the entrepreneur’s supply-side intentions into demand-side behaviors by continually testing for expected responses to a hierarchy of benefits among potential demand-side actors.

Charles G. Chandler, Ph.D.

080 – Adventures in Capitalism

Consider how an upbeat story about a business (Shake Shack) was distorted on social media, eliciting some negative responses in which people question the underlying motivation of management. There seems to be a dominant, and rather negative narrative that plays in the back of people’s minds about capitalism, providing a context in which to interpret daily events. Clearly, capitalism is not working for everyone.  This episode suggests a partial answer.

Charles G. Chandler, Ph.D.