Is your business idea scalable? How can you increase production, increase profit margins, and decrease the consumer price all at the same time? It’s all about learning strategies for scaling the business, like lowering input costs by buying in bulk and taking advantage of division of labor to hire specialists.
Here is a slideshow I used to teach this to my Intro to Entrepreneurship class:
My latest article on Seeking Alpha explains how specialty pharmacy could be Amazon’s next target for industry disruption:
In specialty pharma, prices are high, revenues are rising, and customer service is lacking. Disruption of this industry isn’t just available, it is necessary. It is a perfect target for Amazon.
Read the rest here.
I am 3 days into the new Intro to Entrepreneurship class that I am teaching to 24 high school students this year. I am already having a blast, as the students—mostly freshmen—are very enthusiastic, despite several of them not being quite sure what entrepreneurship was 3 days ago. We started off by analyzing the etymology of the word entrepreneurship. Etymology is underrated as a tool for studying concepts like this. You get a peak into the cultural perspective of the time and place where the word was first invented. How cool is that?! Continue reading “Entrepreneurs: The New Adventurers”