Dale Caldwell: Entrepreneur Zones Will Drive Accelerated Growth For Cities
Can entrepreneurship be a collaborative undertaking across multiple firms? Entrepreneur Zones are an idea from Dale Caldwell to boost the economic performance of cities, and represent one form of collaborative entrepreneurship. The business platform the Mises Institute is building — Economics For Business — represents another: an online collaboration of entrepreneurs to share knowledge, experience, and practices, while competing individually to be the best at serving customers.
How will this work? We can answer this question using our “5 Cs Framework” (Mises.org/E4B_102_PDF1).
Key Takeaways & Actionable Insights
1. Consumer Sovereignty / Customer First
The first principle of entrepreneurship is that value is subjective, and one way to express that principle is that consumers determine value. Entrepreneurs facilitate value for consumers. That principle is never relaxed. Deviation from it is fatal for entrepreneurial businesses. Therefore, even in circumstances where we see opportunities for entrepreneurial collaboration, it is never in violation of consumer sovereignty. Any collaboration is directed towards the facilitation of consumer value, and does not detract from it.
2. Collaborative Efficiency.
In an Entrepreneu
Article from Mises Wire