Mark Packard’s Value Learning Process: The Two Kinds of Knowledge Entrepreneurs Must Have

The world is changing at such a pace, and your customers’ preferences are changing so fast, that your business has to change at the same speed, or even faster. How to keep up is a part of the entrepreneurial challenge. Mark Packard has a big insight about how entrepreneurs manage innovation.

Producers don’t innovate. Customers do. That may sound a little odd, but Mark’s Value Learning Process makes it clear. Customers are always looking for new value. They’re always dissatisfied, seeking to make things better for themselves. They know what’s wrong or disappointing or less than perfect with their current experience. And they’re always looking for new solutions, better ways to do things, improved experiences. If you know how to interpret their behavior and their dissatisfactions, they’ll tell you what to do.

Show Notes: https://mises.org/library/mark-packards-value-learning-process-two-kinds-knowledge-entrepreneurs-must-have

"The Two Kinds of Knowledge Entrepreneurs Must Have" (PDF): Mises.org/E4E_69_PDF