In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks with the Founder and CEO of
Hypernomics, Doug Howarth.
Doug Howarth delved into the world of Hypernomics, revolutionizing how markets are understood and interacted with.
He explained Hypernomics as the study of markets through a multidimensional lens. Hypernomics offers a fresh perspective on pricing strategies, emphasizing the importance of aligning prices with market perceptions and dynamics rather than relying solely on personal opinions. This approach is particularly relevant for consultancy services, where understanding the client's value perception is crucial.
Doug's insights extend to B2B audiences, highlighting Hypernomics' role in revenue generation and market positioning. By grasping market dynamics, businesses can optimize their product offerings and pricing strategies to meet demand better.
Key Points from the Episode:
- Explanation of the concept of Hypernomics
- Anecdote about observing an ant leading to the discovery of surveillance in ants and its relation to Hypernomics
- Application of Hypernomics in real estate, restaurants, cars, airplanes, and software markets
- Example of applying Hypernomics to help a restaurant increase revenue through seating arrangement analysis
- Challenge to the traditional supply and demand model
- Application of Hypernomics to the stock market
- Implications of Hypernomics for pricing strategies
- Broader applications of Hypernomics
- Practical applications of Hypernomics, including consulting services for companies such as NASA, Lockheed Martin, and Virgin Galactic
About Doug Howarth:
Doug Howarth is an innovative figure in economics, having pioneered the concept of Hypernomics, also known as Multidimensional Economics (ME). He founded Hypernomics Inc. to advance this discipline, developing groundbreaking tools such as the MEE4DTM software—the world’s first 4D analytics platform, for which he holds a US patent of 10,402,838. His professional experience includes significant roles like the F-117A Manufacturing Program Manager at Lockheed Martin Skunk Works and leadership in their Parametric Analysis Group. Doug has collaborated with significant aerospace and technology firms such as NASA, Lockheed Martin, Raytheon Technologies, Northrop Grumman, and Virgin Galactic.
An accomplished academic and researcher, Doug has authored 14 peer-reviewed papers published through respected institutions across four continents, including the American Institute of Aeronautics and Astronautics (AIAA), International Cost Estimating Analysts Association (ICEAA), and the Institute of Electrical and Electronics Engineers (IEEE). He has a Bachelor of Arts in Economics from Washington State University.
About Hypernomics:
Hypernomics is an innovative economic field developed around the concept of multidimensional market analysis. It fundamentally challenges traditional economic theories like the Law of Supply and Demand. It proposes the Law of Value and Demand, suggesting that markets operate within four or more mathematical dimensions rather than merely responding to physical or observable factors. This revolutionary perspective offers a new way of understanding how market dynamics form and fluctuate, much like the shift from Ptolemaic to Copernican cosmology transformed the understanding of the cosmos.
The practical applications of Hypernomics are vast, from assessing the viability of new products in the market to determining appropriate pricing strategies against known market competition. Hypernomics allows businesses to discover sustainable market spaces and predict consumer behavior more accurately. The field is supported by patented analytical software and backed by experts providing project analysis consulting and in-person and online training courses. This multidisciplinary approach combines over 150 years of experience from business executives, aerospace engineers, and forecasting specialists, ensuring that every project is handled with a depth of knowledge and innovative perspective.
Tweetable Moments:
12:22 - "It's not based on what you think; it's based on what the market thinks."
Links Mentioned in this Episode:
Want to learn more? Check out Hypernomics’ website at
https://hypernomics.com/
Check out Hypernomics on LinkedIn at
https://www.linkedin.com/company/hypernomics/
Check out Doug Howarth on LinkedIn at
https://www.linkedin.com/in/doughowarth/
Check out Doug Howarth on Facebook at
https://www.facebook.com/dougkhowarth
Check out Doug Howarth on Twitter at
https://twitter.com/dougkhowarth
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