Value Creators
Welcome to the Value Creators podcast, the ultimate destination for business enthusiasts seeking to unlock the secrets of success through the lens of Austrian economics. Join Hunter Hastings and a variety of insightful guests as they delve into engaging conversations with business owners and esteemed practitioners from leading business schools.
In each episode, the Value Creators podcast goes beyond the surface-level discussions of traditional business strategies and explores the profound impact of Austrian economics on the world of entrepreneurship. Drawing upon the rich principles and theories of this school of thought, our host uncovers hidden gems and actionable insights to help listeners improve their businesses.
With a keen focus on value creation, this podcast aims to inspire and empower listeners to elevate their businesses to new heights. By exploring the ideas of Austrian economics, which emphasize individual decision-making, market dynamics, and the importance of entrepreneurship, our interviews shed light on innovative strategies and approaches to succeed in today's dynamic business landscape.
We'll present a diverse range of guests, including successful business owners who have effectively applied Austrian economics principles to their enterprises. Listeners will gain invaluable knowledge about strategic decision-making, market-driven innovation, and the importance of understanding human action in business contexts.
Additionally, the podcast features discussions with esteemed practitioners from renowned business schools. These experts provide listeners with a broader perspective on how Austrian economics can be effectively integrated into business curriculums, enabling aspiring entrepreneurs to sharpen their skills and gain a competitive edge.
Whether you're a seasoned business owner, an aspiring entrepreneur, or a curious mind intrigued by the intersection of Austrian economics and business, the Value Creators podcast is your go-to resource. Tune in to each episode to explore thought-provoking discussions, actionable advice, and captivating stories that will inspire you to unleash your full business potential.
Are you ready to uncover the secrets of successful businesses through the principles of Austrian economics? Join us on the Value Creators podcast and embark on an enlightening journey that will revolutionize the way you approach entrepreneurship.
Value Creators
Episode #33 Mike DeKock on Building Competitive Advantage
How do the value creation principles of subjective value, entrepreneurship and creativity apply in a highly technical rules-based environment like SOC Compliance audits. These are objective validations of data security measures based on customer-defined criteria similar to traditional financial audits but more specific and subjective.
The answer lies in the understanding of customer needs. Mike DeKock, CEO of MJD Advisors, an SOC auditing firm, has the insight: the customer seeks confidence - a feeling that they can approach their own clients with the assurance of providing the data security that they demand. Trust, reliability and commitment are the underlying values - emerging from technological rigor, at a much higher level of human need.
Mike discusses the evolution of compliance services and the changing landscape within the industry, and explains the importance of continuous compliance and how his company aims to provide ongoing support and guidance to clients throughout the year, for continuing reinforcement of the client’s feeling of confidence.
He recognizes the value of building relationships with clients, helping them navigate compliance challenges, and fostering organizational improvement. He sees value in creativity, curiosity and collaboration, and the need for continuous learning and adaptability in a rapidly changing industry. At MJD Advisors, there is a passion for helping clients find simple solutions to complex problems, emphasizing the satisfaction derived from making a meaningful difference in their businesses.
Resources:
MJD Advisors: mjd.cpa
Mike DeKock on LinkedIn: https://www.linkedin.com/in/mike-dekock-7325a654/
Shownotes:
0:00 | Intro
02:13 | SOC Compliance: Mike Shares His Business Field Growth Journey
03:21 | Regulatory Audit Requirement is Optional
05:09 | Client’s Confidence is Subjective Essence
07:51 | Value Proposition
10:08 | Confidence Area: Empathy-Driven Insight into Client Needs
12:09 | Confidence Meter: How to Measure it?
13:49 | Trust Measurement
15:16 | Data Security
18:05 | Business Model: Client-Centric Excellence
20:01 | Trust and Confidence: Some Companies View Audits as Mere Costs
22:08 | MJD Advisors: Exceeding Client’s Expectations
23:07 | Hiring: Interesting People VS Hard Stats
25:27 | Helping Clients Find Simple Solutions to Complex Problems
27:32 | Future Unpredictability Adds Complexity
29:20 | Entrepreneurial Ethic
30:40 | Wrap-Up
