Technology is being integrated into all aspects of everyday life. And this includes business and working life.
The Internet of Things links the physical and digital worlds. A global network of connected sensors records everything. The information that is generated is utilized for various purposes, including improving performance.
The information will all be in digital form and managed via software, predictive algorithms and block chain.
The result? A digital reality generates trust and truth that allow us to know, with remarkable precision, exactly what has happened and what is likely to happen.
While I was doing some stock and financial research, I came across an article that interested me. It was about Apple. Apple the company. In the past calendar year, Apple has been through ups and downs. Companies and people always go through peaks and valleys. Apple was no exception.
There were stories, from reliable sources, that blasted Apple’s market share and their lack of new products. If that wasn’t enough, here came news of Apple’s lack of innovation. Now, remember that this is while Apple is constructing their “mothership”. This is the nickname of their new research facility which resembles a big flying saucer. To me, Apple is always a model of innovation. Apparently, not everyone thought that way.
But while the negatives that were coming out on Apple, some major “players” were buying the stock like investment houses and hedge funds. Warren Buffet was a big buyer of Apple stock and always spoke highly about the company.
Well, the post I came across specifically mentioned Apple as being “antifragile”. As I read on, it was brought out that antifragile was incorrect as to describing Apple and should have mentioned Amazon as being antifragile. Antifragile is described as:
“Some things benefit from shocks. They thrive and grow when exposed to volatility, randomness, disorder and stressors and love adventure, risk, and uncertainty. Yet, in spite of the ubiquity of the phenomenon, there is no word for the exact opposite of fragile. Let us call it antifragile.”
This original definition is from Nassim Taleb. Antifragile is assigned to entities which are small companies, companies that can pivot, companies with embedded options, investments with open-ended outcomes and companies led by owners/operators and/or aggressive tinkerers.
“If the designation antifragile is rather vague and limited to specific sources of harm or volatility, and up to a certain range of exposure, it is no more and no less so than the designation fragile. Antifragility is relative to a given situation. A boxer might be robust, pale when it comes to his physical condition, and might improve from fight to fight, but he can easily be emotionally fragile and break into tears when dumped by his girlfriend.”
The term “antifragile” is vague. Perhaps it should not have been applied to Apple, but instead to Amazon.
Think of antifragility in terms of “a thing” and volatility. Antifragility isn’t what you should be under all circumstances. Sometimes you have to accept being on top and perhaps consequently vulnerable.
A cash-flow forecast is essential for new businesses.
With a cash flow forecast, you’ll be able to see which months you can expect to see a cash deficit, and which months you can expect a surplus. You’ll also be able to get a pretty good idea of how much cash your business is going to require over the next year or so to survive.
You can gain a lot of insight into your business by comparing actual figures to what you forecasted. If you see discrepancies between the two numbers, dig further to see what might be happening.
For example, if you discover that you are spending twice the amount you thought you were on electricity then you could look at the efficiency of your heating or other areas to save energy. If your telephone bill is much higher than you thought it was then you could look into the possibility of switching providers for a more competitive rate.
When discrepancies are found, you can adjust your forecasts so they are more accurate going forward.
Successful people tend to find new and different techniques to unlock their real potential.
This usually involves taking on elements of risk, managing fear and channeling that energy into strength. We have the cognitive ability to mold the outcome of our journey.
Taking time to envision what winning looks like gives us a place to start.
Design beliefs that need to be held and actions that need to be taken. Why? To meet or exceed our goals. Analyze the results we are currently getting and compare those to the results we wish to have.
Great leaders and successful people are rarely satisfied with their performance. Envisioning the various “wins” we wish to achieve aids us in understanding the mindset, tools, knowledge, and beliefs we need to equip ourselves with.