Here’s a great video regarding entrepreneurship.
Israel Kirzner is an Austrian economist and one of the world’s foremost experts on Ludwig von Mises’s methodology and thought.
In this lecture given at a seminar in Aix-en-Provence, France in 1993, Kirzner talks about ethics, entrepreneurship, and how wealth is created in society. He also describes the distinction he made between two kinds of ignorance: ignorance of specific knowledge but having the knowledge of how specific knowledge may be obtained, and sheer ignorance — not knowing how to access specific knowledge because we don’t know what we don’t know. Kirzner says that sheer ignorance requires an entrepreneurial role to overcome it, which allows entrepreneurs to discover demand for products and services that consumers didn’t even know they needed or wanted. Watch the video below.
I was with my dad when he passed away on April 21st. While I was watching my dad pass and experiencing this part of life it reminded me of my days in the USAF and the lessons learned and how it applies to the cycle of life and business.
I was in the USAF for over 13 years. The military is a mission- and team-based organization and you have an overall mission which determines everyone’s focus while the team means everyone bears all of their talents and skills to accomplish that mission. I spent a number of years in the USAF Aircraft Maintenance field working with F-4s, F-16s, F-15s and F-111s (and B-52s and KC-135s, but I can discuss the “heavies” another time) and I got to know a number of the fighter pilots and some of their training. It included knowing: weather, flight, basic physiology, mechanics and electronics, navigation, etc. Learning to fly in weather means avoiding bad weather if possible, it also means watching out as the weather changes which affects how you get to your destination and monitoring your aircraft resources, i.e. fuel, etc. to ensure you arrive safely.
My friend Thomas Frey has written a new piece that it titled “2 Billion Jobs to Disappear by 2030” and goes into what is changing in the coming years.
Here’s the take away:
Apple recently had their iPhone 4S launch, to some an anticipated new Apple product, to others a MUCH anticipated new Apple product which became disappointing. Did Apple miss it? Did Apple flub it? How could Apple disappoint their customers so much?
Well, let’s take a look.
Here’s a great video on how Orabrush got into Walmart stores. They did not use the traditional routes that other companies take, such as trade publications, etc. They used targeted Facebook ads. Oh, and notice they use a Mac for their business in the video.
I now have two quotes that major celebrities like what I say. Schweet!!
The first one was Chris Brogan who liked my “craft of your business” versus “business of your craft” comment.
Now I have Carrie Wilkerson who likes a quote from my book, here’s our exchange:
As I have talked with numerous people regarding their businesses I am in constant discussion with others about what they do and how they do it. I had a conversation with anther small business and he stated something that reenforced what I have seen. He said, “More people only love what they do, not do what they need to do.” What does he mean?