Daily Archives: July 21, 2011

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Eight Questions Every Business Owner Should Ask Himself or Herself

Making Money, My BusinessesBy Joshua Kennon July 21, 2011 2 Comments

If I were thinking about starting a small business from nothing or I were actively operating a small family company, there are eight questions that I would immediately ask myself about any entrepreneurial idea I had. These eight questions are: How do we make money? (What product or service do we provide at a profit? What…

Mental Model: Information Asymmetry

EconomicsBy Joshua Kennon July 21, 2011 1 Comment

Mental Model: Information Asymmetry For the past month or two, there has been a running joke at the office that I’ve been giving Aaron a hard time about, providing me countless hours of entertainment. It is a good illustration of a mental model from economics called information asymmetry and I thought I’d take five minutes…