We need people who can imagine a better future in entrepreneurial terms, not political terms. People who can identify how to serve their customers in a better way, and claim the reward of a financial profit for improving their customers’ lives. We need people who take personal, entrepreneurial and commercial risk because they see opportunity and they believe that they can seize it.
About Hunter Hastings
Hunter Hastings is the Executive Director at Center for Individualism. He's an economist, venture capitalist, and lifelong advocate for liberty, economic freedom, and individual entrepreneurship.
Hunter’s current research is focused on the intersection of 21st century individualism, emerging technology and the radical decentralization that is freeing markets and creating a new spectrum of individual opportunity. His newest book is The Interconnected Individual, co-authored with Jeff Saperstein, to be published by Business Expert Press in 2018.
Entries by Hunter Hastings
Entrepreneurs should seek unique knowledge, make a unique benefit promise to customers, identify a niche that no-one else has identified, and generally be comfortable with being the only occupier of a commercial space. Initially they might be viewed as crazy or taking excessive risk or out on a limb.
The unit of analysis for economics is the individual. If economics is to be a useful science, it will help individuals to make better decisions for themselves, in the context of productive collaboration with others. Let’s just help shed light on good economic decision making.
Is it possible to live the entrepreneurial life when employed by a firm? Yes (despite what Taleb believes) because the entrepreneurial life is an attitude and a style and a way of managing the future that you can bring to any context.
Taking responsibility, including moral and ethical responsibility as well as financial responsibility, for the downside risk of one’s entrepreneurial efforts is what holds society together. It is transparency and honesty and authenticity. It is the honorable life, the only one worth living.
The output of a service is an experience. What you actually receive is a feeling that your life is better as a result. In order to produce this result, service providers must be highly empathetic.
There is not a single trade that is not governed by legislation, bureaucratic rule making, taxes, tariffs or subsidies or political adjustments of some kind. No boat can sale, no plane can fly, no truck can deliver without political permission. Giant global bureaucracies make sure that not a single transaction can be made without a specific permission within their rule making.
Who am I? What do I believe? What are my values? These are the questions entrepreneurs ask of themselves before they embark on any kind of project. Who do I want to help? How can I understand their need?
From the days of large corporations, big factories, and mass-produced branded products and services, we are now headed towards a miniaturized, customized, co-developed future. Factories, farms and energy flows are miniaturizing. Add your unique recipe, and you’ve miniaturized the expert economy.
Annie Duke credits the empirical, dispassionate habits of mind instilled by “thinking in bets” with opening up new learning opportunities.
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