1128: You DON'T have a resource problem! Here's what ECONOMICS reveals w/ Shefali Mehta

Wantrepreneur to Entrepreneur | Start and Grow Your Own Business

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26d ago 33:48

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If you've ever struggled to figure out how to bring your passions and expertise together into a thriving business, this episode is for you. Shefali Mehta is an economist, statistician, and entrepreneur who has built a career on applying diverse disciplines to solve real-world challenges.

As the founder of Open Rivers Consulting Associates, Shefali helps businesses and nonprofits develop impactful strategies through data-driven decision-making, innovation, and a holistic approach. She shares how understanding resource allocation, prioritization, and adaptability can transform the way entrepreneurs approach problem-solving and success.

This conversation will change the way you think about business, strategy, and personal growth—and give you tools to optimize your decision-making as an entrepreneur.

💡 What You'll Take Away For YOUR Business

🚀 Why resource allocation is more important than resources themselves (and how to use this mindset to maximize your impact)
📊 How an economics-based approach helps entrepreneurs make better decisions under uncertainty
🔄 Why being adaptable and open to reinvention is the key to long-term success in business
🛠️ How to apply a systems-thinking approach to solve complex problems in your business
🧠 Why a multidisciplinary mindset gives entrepreneurs a competitive edge
📝 The power of pausing & taking inventory before making major business decisions

📝 About Shefali Mehta

Shefali Mehta is an economist, statistician, and strategy consultant with over 20 years of experience applying data-driven insights to business, nonprofits, and government organizations. She is the founder of Open Rivers Consulting Associates, where she helps clients develop innovative, sustainable strategies.

Her background spans economics, computer science, environmental research, and public policy, giving her a unique transdisciplinary approach to problem-solving. Shefali has worked with businesses, nonprofits, and government agencies to optimize resource allocation, improve decision-making, and drive long-term impact.

🎯 Shefali’s BEST Piece of Advice for Wantrepreneurs and Entrepreneurs

💡 "You can't do your best work unless you're taking care of yourself first."

📢 Memorable Quotes

🗣 “We live in a world of limited resources. Success isn’t about having more—it’s about knowing how to allocate what you already have.” – Shefali Mehta

🗣 “Entrepreneurs who can pivot and innovate by drawing from multiple disciplines are the ones who will thrive.” – Shefali Mehta

🗣 "Slowing down and taking inventory is not a waste of time—it’s a powerful business strategy." – Shefali Mehta

💡 Actionable Takeaways

✅ Reframe challenges as allocation problems, not resource problems—what you need is often already within reach
✅ Adopt a systems-thinking approach—step back and analyze the big picture before making business decisions
✅ Expand your perspective—draw inspiration from outside your industry to spark innovation
✅ Pause and take inventory regularly—weekly check-ins on your goals, priorities, and energy allocation will improve long-term success
✅ Be open to reinvention—your business and career will evolve, and that’s a good thing

🔗 Links & Resources

Chapters

1. Introduction to the episode (00:00:00)

2. Guest introduction: Shefali Mehta (00:12:43)

3. The foundation of economics in entrepreneurship (00:43:35)

4. Approaching problems with a holistic mindset (01:41:17)

5. The non (02:36:09)

6. Key advice for aspiring entrepreneurs (05:32:11)

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