Category: Uncategorized

Free markets (and the world economy in general) can be lucrative to predict, but that doesn’t stop entrepreneurs from enduring and becoming successful.  Here is a brief summary of economics in the role entrepreneurs play:

There arises a desire or demand in the market that will remain until there is a remedy provided by an entrepreneur.  This remedy is value creation which is deserving of compensation. The compensation is converted by the entrepreneur into capital that can be further invested or stored wealth.

This very means of production is what drives the economy. You might hear the common misconception that spending is what drives the economy, but nothing could be further from the truth. It is the production, delayed satisfaction and savings that drive the economy. Also inherent in entrepreneurship is risk. Risk is what keeps people from becoming an entrepreneur. I want to show you a couple of ways of eliminating some of that risk so that you might be successful no matter where you find yourself in the market.

Majority rules in the free market economy and people vote with their dollars. That is why it is he sensual for an entrepreneur to determine with the voice of the customer truly is.  There are many tools to determine what the VOC is.

These tools help you figure out what’s important to your customers, what’s profitable to you and if your priorities are consistent with theirs. You can use; Customer Segmentation to identify different needs for different customers, or you can use Kano Analysis to help you define your customer’s priority level of your different services.

Tools like this will help you determine the voice of your customer no matter where they are in your economy. You could navigate a decent economy like the one in America where there is very little restriction to capitalize on, or even in the harshest economic conditions like in Venezuela where your customers are starving.

I guess what I’m really trying to say is that if you’re afraid to risk and you have in your mind that you might fail, then you might be right. But I for one am a winner, and “winners win” no matter how many times they fail.

-Brandon

The average person today can’t even fathom the dream of owning their own satellite but here we are. What an amazing and wonderful time to be alive! And as companies like Spacex work to reduce the cost of aerospace infrastructure, the crazy idea of space travel for the common man is becoming a reality before our very eyes.  The rocket industry has its role in this story, but now I want to focus on the growing industry of the space travel business and the cost reduction of satellites.

After 2010 NASA started a program to make the cheapest and smallest satellite possible. Because smart phones are more sophisticated than most satellites in orbit, the idea was to make a satellite that runs on Android. This idea was revolutionary because at the time all you could do was higher a satellite imagery service like Digital Globe to do space travel jobs for you. Since then we have seen the beginning of a variety of satellite companies like Planet Labs, Spire and Skybox Imaging (which was purchased by Google in 2015).

In the past couple years colleges like University of Kentucky and Arizona State have had students building their own satellites and putting them up to into orbit just to push the limits of the industry. Arizona State even reduced the cost of theirs to $1,000 (and an additional $20,000 to launch) A few things that satellites can do include television, telephones, navigation, development and space science. 

Now I know what you’re thinking “what would I do with a satellite?” Well if you’re a farmer it could help you determine clement and environmental change, and it will assist you with land stewardship.  For people who travel to the remote places in the world it can give you a reliable signal without having to rely on a ham radio.  You can even get an attachment for your iPhone to make it a satellite phone for around $500!

satellites and internet are changing our world so much that organizations like Ahumanright.org are claiming internet service be converted to a right. If you are a business owner it may be inevitable that you invest in the space travel industry. Whether through a mandate, or subsidy it is likely businesses will be taxed to create a cost efficient infrastructure for the world to have wifi.

Wherever this journey takes us it will be an amazing one. You may start out by having the best Instagram photos or becoming your own internet provider, but may end up taking that venture into interstellar worlds. Who knows what will come of that.

-Brandon