Using Customer Reviews to build your Business with Hunter Hastings

Hunter Hastings is an economist, marketer, venture capitalist and passionate supporter of the entrepreneurship lifestyle.  

Hunter is associated with a group called the Mises Institute, which is an Economics think tank that helps in the translation of deep Economics data into information that is genuinely useful for business owners. 

Hunter is currently working in line with the Austrian Economics project, an alternative business school model that looks to support entrepreneurs and business owners in attaining the best levels of customer service standards.

Entrepreneurs, Hunter believes are the key drivers for innovation and life quality improvement through product and service delivery. 

 Applying Austrian Economics. 

 Customer Sovereignty - The customer is the boss and is the one to determine what’s going to be produced in the economy. The work of an entrepreneur is to follow the customer’s orders.

Thus, when starting or reinventing a business, work backwards from a customer’s point of view. For example, your first thought should be ‘What would the customer want from us?’

 Assets and resources - Helping entrepreneurs in the acquiring and retention of assets. Hunter and his team run an analytics system that gives insight into the creative and unique structures in business activities. 

Your business revenue stream is driven by the sales you make to your customers.

Sales are a reflection of the assets your business possesses.

Hunter’s analytics reviews all the processes and assets involved in delivering quality sales.

They outline the unique aspects, e.g. convenience, service speed, customer care etc and constantly advise entrepreneurs on how to combine all the unique assets for regular improvement of the quality of sales and service delivery. 

 Dynamic efficiency - Business is never static, it’s always changing in relation to both external and internal environment factors.  Some of the changes are in the areas of; Changing their value propositions, asset combinations, offering new products, designing new services etc.

 

This concept is particularly hard for entrepreneurs to understand because in their heads, entrepreneurs are for the idea that a successful business model requires little to no attention since it’s already proven to be successful.

But this is wrong because adopting a growth mindset is the only way to make sure you’re keeping up with the changing customer needs and expectations. 

Hunter’s team have a resource centre for entrepreneurs that are based on 3 major pillars, i.e.; Knowledge (in form of videos, lectures, articles and social media posts), Tools (for example checklists, process maps, project management software), and community (a community of small business owners and entrepreneurs that share knowledge and mentor each other) 

Hunter’s superpower. 

Utilizing Austrian Economics in helping business people.

This model of Economics is particularly unique and largely beneficial because it solely focuses on individual consumers and entrepreneurs. 

It’s a wonderful body of knowledge that believes and pushes for everyone to embrace their unique superpower in order to grow in life and in business. 

 

Timestamps

01:07 About Hunter

02:19 The entrepreneur's Hunter and his team work with

03:20 How to build a business effectively from the ground up

06:13 The consultation services Hunter offers

07:08 Building a community of business owners

10:38 Using podcasts to share knowledge and build a network of entrepreneurs 

13:34 Hunter’s corporate career history

16:46 Developing an entrepreneurship spirit

21:46 Hunter’s superpower

23:31 Why everyone is unique.

 

Quotes

• Since we believe entrepreneurs are the drivers for our global systems. We work towards empowering them through Economics in order for them to push for innovation and quality service delivery. 

• Entrepreneurship is a role. It can either be a single individual, a small team or a  big business. The problem with big businesses though is that they’re too overloaded with bureaucracy and rules. Which ends up stifling innovation. - Why Hunter and his team prefer working with small and medium-sized businesses.

• The key to business efficiency is focusing on bringing value to the customer when you’re starting up.

• How entrepreneurship works is that you act first and then learn later. Don’t try thinking your way into doing things right, act your way into it.

 

Connect with Hunter Hastings. 

Website - https://www.hunterhastings.com/

Facebook - https://www.facebook.com/CFIndividualism/ 

Twitter - https://twitter.com/hhhastings?lang=en 

Podcast - https://podcasts.apple.com/us/podcast/id1453233518