NEO WORLD BIZ ECON SHOW 7: EMBRACING THE OBVIOUS BUILDS STRENGTH - WILLIAM EASTMAN

Antifragile: “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. Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the same; the antifragile gets better.” Nassem Talib

EPISODE 25: FRAGILE > ROBUST > ANTIFRAGILE?
During the season there were many opportunities to discuss the concept of antifragile but now seems like a sweet spot. The word antifragile doesn't exist and was created by Talib because there was no word to describe gaining/growing from disruption. His insight was there is something beyond robust - the ability to survive. At this stage in the business cycle moving toward antifragile is smart.

Topics

• Assessing your fragility

EPISODE 26: REVOLUSION
At The Top – True Value < Market Price 
Supply Exceeds Demand with Excess Inventories and Inflated Price - The Bubble is Bursting
The smart have minimized their exposure and have started conserving cash. They are cleaning up their credit accounts with investors, creditors, and suppliers. Everybody else is reacting to what was obvious but they have no plans for surviving the upcoming winter. While they are wondering what to do next, the smart are ensuring seed for the next season is saved because the contraction will end and those ready to act early will benefit the most in the next expansion.

Topics

• What does bursting bubble look like?

EPISODE 27: YOUR MOVE AS OWNER - PART 1
For the businesses that didn't heed the warning signs of a contracting market, the true depth of this contraction is becoming obvious. Usually they focus inward about what should have done and wasn’t. New sales are shrinking and existing customers are cutting back. The financial situation is becoming critical – outflow exceeds inflow drawing upon savings and pushing credit limits.

Topics

• Fixed Costs - Inventory, Accounts Payable, Cost Saving Initiatives

EPISODE 28: YOUR MOVE AS OWNER - PART 2
Instead of just retracting and getting conservation, an excellent move by the way, we are also getting aggressive. All of these costs savings have 2 purposes - reduce our cost of operation (fixed) and cost of production (variable) to remove fragility AND pass on the cost savings to the customer with lower prices.

Topics

• Variable Costs - Materials, Labor, Defects, Time, Cost Saving Initiatives

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