#387: Finding Hidden Market Opportunities using Hypernomics with Doug Howarth
Intentional Growth
Utilizing Market Mapping for Business Success
This chapter delves into actionable strategies for private health business owners to create value and identify market opportunities. It highlights the use of data visualization and a real-world example from the restaurant industry to illustrate the impact of adapting business practices.
Have you ever wondered why products and companies fail? Doug Howarth has dedicated his life to answering this question. An innovative thinker in economics, he is the founder of Hypernomics.
Doug's journey is driven by a deep fascination with why certain products fail, why people decide to buy, and how companies succeed. Fueled by this newfound clarity, he founded Hypernomics Inc., creating innovative software that analyzes markets in four or more dimensions, going beyond the traditional two dimensions of supply and demand. This approach attracted the attention of industry giants like NASA, Virgin Galactic, and Lockheed Martin.
Hypernomics is a new economic paradigm that challenges traditional views by considering market phenomena in four or more dimensions. Doug delves into his journey of discovery, practical applications, and the potential of Hypernomics to revolutionize decision-making in business and beyond.
THREE BIG IDEAS FROM THE INTERVIEW:
- Hypernomics: A New Way of Thinking About Markets: Doug introduces Hypernomics as a multi-dimensional approach to understanding economic phenomena, moving beyond the traditional two-dimensional supply and demand model. This new approach offers a more nuanced understanding of market behaviors, consumer decisions, and the ability to predict the success of a product or service.
- Real-World Examples on Why the Old Way Doesn't Work: Doug discusses real-life examples of how companies succeed and fail, such as electric cars and business jets, to demonstrate how Hypernomics can be applied to predict market trends and make informed business decisions.
- Future Implications: Doug shares his vision for Hypernomics as a tool for businesses to predict the success of future products and services and reduce the failure rate of new ventures.
ABOUT DOUG:
At age 14, Doug Howarth sensed the plotting systems created by René Descartes were inadequate for many tasks. Decades later, he made a series of startling discoveries. He found the economy self-organizes in recognizable opposing patterns and devised ways to portray markets in four, five, or any number of dimensions. Doug named this new field Hypernomics. In 2011, he formed a company, Hypernomics, Inc., which shows their customers how to take advantage of Hypernomics. Hypernomics. Inc. has worked for NASA, United Technologies, Lockheed Martin, and Raytheon, among others. Along with two of his Hypernomics colleagues, he was awarded US Patent Number 10,402,838 for Multivariable Regression Analysis, the world's first software designed to deconstruct markets into their 4D structures.
Doug has written 13 peer-reviewed publications across four continents. They've been issued by the Institute of Electrical and Electronics Engineers (IEEE), the American Institute of Aeronautics and Astronautics (AIAA), the Society of Automotive Engineers (SAE), and the International Council of the Aeronautical Sciences (ICAS), among others. NASA has requested that he speak to them three times. He has spoken to the Royal Aeronautical Society (RAeS) in London four times, and they have also published his peer-reviewed work. A sought-after speaker, he has addressed international conferences in Albuquerque, Amsterdam, Belo Horizonte (Brazil), Big Sky (Montana), Brussels, Denver, Houston, Montreal, Melbourne (Australia), New York, New Orleans, Phoenix, St. Louis, St. Petersburg (Russia), Seattle, and Tampa. He presented his paper entitled “A 7D Trade” in Brazil in September 2018.
In 2018, he won a second Best Paper Award. International Cost Estimating and Analysis Association gave it to him for a paper entitled, “Demand, Recurring Costs, and Profitability.”
INTENTIONAL GROWTH™ RESOURCES:
- Intentional Growth™ Podcast Archives: Archive of 367+ episodes and counting. Get access to the entire library HERE. We'll be adding a searchable tagging feature later this year.
- IG Financial Scorecard: Get your Intentional Growth™ Score that grades you on how well you view and run your business like a financial asset. Get your results and 5 case study videos HERE.
- Intentional Growth™ Academy: 71 Videos, 9.5 hours of content, 20+ exercises. $995 for subscribers [normally $1,495] HERE
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