EmergeDynamics

David and Eric discuss that the myriad of external risks that business owners face and how to balance insurance and cash reserves with risks the business takes. They look through the lens of the preparedness chapter of Q Source which is the leadership book of F3 Nation. https://f3nation.com/q/ There are expected circumstances we need to prepare for, but there are always unexpected external shocks that we know will come but we don't know when or what they will be. How do we prepare for those? Get the full episode here: https://emergedynamicspodcast.com/episode-62-how-prepared-do-i-need-to-be-to-run-a-business-that-emerges-from-the-competition/

Today we’re concluding a three-part conversation focusing on money. If you missed parts one and two, you’ll want to go back to previous episodes for a deeper understanding of money mechanics. This topic is so important to be familiar with if you run a business. For a long time, societies have run on a central banking system, and there is a lot of money being printed all over the world. Our current financial system, and the flaws within it, has left some desire to try and find a better way. More and more, people are looking for a more stable option that ensures consistency. While it seems the days where a gold smith would give you a note for your gold are far away, our system hasn’t changed that much. Physical money has taken its place, but it still reflects a similar principle as a note symbolizing money. Now, people are starting to seek out options that are quite different from what we’re used to: cryptocurrency. Recently, cryptocurrency successfully grabbed the public’s attention—even though it’s been around for some time. This technology allows a confident exchange of currency without a central authority. However, there are still some aspects that need to be worked out. This new technology is volatile, and not everyone understands it yet. When new alternatives come into play, they need to be managed properly if the intention is to reduce the current problems we have in our system, and not create new or worse ones. Enter Bitcoin. Bitcoin is not just another cryptocurrency. It offers superior salability and protection from manipulation and confiscation that humanity has never seen before. Listen to the full episode here: https://emergedynamicspodcast.com/episode-31-money-mechanics-for-owners-and-managers-of-businesses-part-3/ or on Apple podcasts: https://podcasts.apple.com/us/podcast/episode-31-money-mechanics-for-owners-and-managers/id1626541605?i=1000591403734 And more on our thoughts on Bitcoin as money here: https://www.emergedynamics.com/post/yes-bitcoin-is-money

Today we’re concluding a three-part conversation focusing on money. If you missed parts one and two, you’ll want to go back to previous episodes for a deeper understanding of money mechanics. This topic is so important to be familiar with if you run a business. For a long time, societies have run on a central banking system, and there is a lot of money being printed all over the world. Our current financial system, and the flaws within it, has left some desire to try and find a better way. More and more, people are looking for a more stable option that ensures consistency. While it seems the days where a gold smith would give you a note for your gold are far away, our system hasn’t changed that much. Physical money has taken its place, but it still reflects a similar principle as a note symbolizing money. Now, people are starting to seek out options that are quite different from what we’re used to: cryptocurrency. Recently, cryptocurrency successfully grabbed the public’s attention—even though it’s been around for some time. This technology allows a confident exchange of currency without a central authority. However, there are still some aspects that need to be worked out. This new technology is volatile, and not everyone understands it yet. When new alternatives come into play, they need to be managed properly if the intention is to reduce the current problems we have in our system, and not create new or worse ones. We need to be able to put trust and faith into a system as important as one that manages currency. Listen to the full episode here: https://emergedynamicspodcast.com/episode-31-money-mechanics-for-owners-and-managers-of-businesses-part-3/ or on Apple podcasts: https://podcasts.apple.com/us/podcast/episode-31-money-mechanics-for-owners-and-managers/id1626541605?i=1000591403734

This episode of picks up from the last one where we began a discussion about money and Web 3.0. Alternatives to traditional money have been increasing in popularity, and if business owners want to stand out from their competitors, it’s important to know why and how they work. Gold was the top choice to use as money until people started realizing the pitfalls of using it: it’s heavy and it’s unsafe to carry it around. This led goldsmiths to offer a safe place to store gold as a business. Soon, people went from exchanging gold to exchanging the notes they had for their gold. Soon, these goldsmiths started issuing out more notes than they had in stored gold. This was the beginning of fractional reserve banking. As our economy has become more sophisticated, it became clear we needed centralized places to store gold. These became central banks. Over time, the government became more involved in controlling these banks. This led to governmental temptation to inflate the money supply. In today’s world, any central authority can print and inflate currency. Why does all this and the mechanics of money matter to a business owner? Because the money supply of the world has greatly increased, and we’re starting to see the effects. So how can this situation be made better? This is a problem that entrepreneurs of today have been working to solve. In fact, there is an entire industry dedicated to forging a better way. The change is coming, so we need to get better versed in what this will look like today. Listen to the full episode here: https://emergedynamicspodcast.com/episode-30-money-mechanics-for-owners-and-managers-of-businesses-part-2/ or on Apple podcasts: https://podcasts.apple.com/us/podcast/episode-30-money-mechanics-for-owners-and-managers/id1626541605?i=1000590753174 ... or wherever you get your podcasts

In this series of episodes of Emerge Dynamics we’re diving into a new, highly relevant topic: Web 3.0. The next level of the internet and how it influences transactions is going to have a large impact on business owners everywhere. Within this evolution, you’ll hear other possibly new terms such as blockchain, decentralized finance, smart contracts, and more. With all these forthcoming changes, it’s important to know where you need to focus so you can emerge from your peers. We start this series with a couple of episodes about what money is and what some of its shortcomings might be in today’s world. We’ll then bring this to a conclusion by explaining why a business owner of manager needs to understand this. In a well-functioning society, you don’t typically need to understand how money works on a deep level. However, with this evolution, it’s important to know the state of money in the world and how it’s changing to support your business. In earlier times, humans got what they needed via direct exchange: bread for cheese, clothes for shoes, one good for another. While it seems simpler on the surface, there were a lot of problems with this system. We then shifted to indirect exchange by using another medium—money—to acquire goods. In order to be most effective, money has to be salable across space and time. Money is intended to serve three functions: be a medium of exchange, retain store value (not rot or die), and be a unit of account. Our conversation today focuses on the store of value function and how today’s money starts to lose this ability as more and more of it is created. After thousands of years, humans shifted to using silver and gold as units of money. And then gold and silver were used for thousands of years and for very good reasons. Gold is almost indestructible, difficult to create, and it’s very rare, making it the top choice to use for exchange at this time. Part two of this series will pick up and take the discussion to where we stand with money today. Here is the link to The Bitcoin Standard which is the book we reference as we walk through the history of money: https://academy.saifedean.com/product/tbs-hardcover/ Listen to the full episode here: https://emergedynamicspodcast.com/episode-29-money-mechanics-for-people-who-run-businesses-part-1/ Here is the link to The Bitcoin Standard which is the book we reference as we walk through the history of money: https://academy.saifedean.com/product/tbs-hardcover/

Today we’re concluding a three-part conversation focusing on money. If you missed parts one and two, you’ll want to go back to previous episodes for a deeper understanding of money mechanics. This topic is so important to be familiar with if you run a business. For a long time, societies have run on a central banking system, and there is a lot of money being printed all over the world. Our current financial system, and the flaws within it, has left some desire to try and find a better way. More and more, people are looking for a more stable option that ensures consistency. While it seems the days where a gold smith would give you a note for your gold are far away, our system hasn’t changed that much. Physical money has taken its place, but it still reflects a similar principle as a note symbolizing money. Now, people are starting to seek out options that are quite different from what we’re used to: cryptocurrency. Recently, cryptocurrency successfully grabbed the public’s attention—even though it’s been around for some time. This technology allows a confident exchange of currency without a central authority. However, there are still some aspects that need to be worked out. This new technology is volatile, and not everyone understands it yet. When new alternatives come into play, they need to be managed properly if the intention is to reduce the current problems we have in our system, and not create new or worse ones. We need to be able to put trust and faith into a system as important as one that manages currency. Listen to the full episode here: https://emergedynamicspodcast.com/episode-31-money-mechanics-for-owners-and-managers-of-businesses-part-3/ or on Apple podcasts: https://podcasts.apple.com/us/podcast/episode-31-money-mechanics-for-owners-and-managers/id1626541605?i=1000591403734

This episode of picks up from the last one where we began a discussion about money and Web 3.0. Alternatives to traditional money have been increasing in popularity, and if business owners want to stand out from their competitors, it’s important to know why and how they work. Gold was the top choice to use as money until people started realizing the pitfalls of using it: it’s heavy and it’s unsafe to carry it around. This led goldsmiths to offer a safe place to store gold as a business. Soon, people went from exchanging gold to exchanging the notes they had for their gold. Soon, these goldsmiths started issuing out more notes than they had in stored gold. This was the beginning of fractional reserve banking. As our economy has become more sophisticated, it became clear we needed centralized places to store gold. These became central banks. Over time, the government became more involved in controlling these banks. This led to governmental temptation to inflate the money supply. In today’s world, any central authority can print and inflate currency. Why does all this and the mechanics of money matter to a business owner? Because the money supply of the world has greatly increased, and we’re starting to see the effects. So how can this situation be made better? This is a problem that entrepreneurs of today have been working to solve. In fact, there is an entire industry dedicated to forging a better way. The change is coming, so we need to get better versed in what this will look like today. Listen to the full episode here: https://emergedynamicspodcast.com/episode-30-money-mechanics-for-owners-and-managers-of-businesses-part-2/ or on Apple podcasts: https://podcasts.apple.com/us/podcast/episode-30-money-mechanics-for-owners-and-managers/id1626541605?i=1000590753174 ... or wherever you get your podcasts

Are you following the housing market? All business owners and managers should. While other industries only affect us if we are in them or related to them, housing affects all of us. Will there be a housing crash in 2023? Or is the crash cancelled? Eric and David weigh in on where the year is going. We conclude with some valuable insight on housing affordability from the Atlanta fed. It shows that all is not well, and business owners need to develop scenarios which encompass these possible future states of the world. https://www.atlantafed.org/center-for-housing-and-policy/data-and-tools/home-ownership-affordability-monitor Listen to the full episode here: https://emergedynamicspodcast.com/episode-53-housing-crash-in-2023-you-do-need-to-know/ This is a near-term future state of the world with a probability high enough that it should definitely be part of your scenario planning. For more on incorporating scenario planning in your financial models, be sure to also listen to Episode 21: Your Financial Forecast: Not A Tool To Predict The Future, But A Tool To Create It https://emergedynamicspodcast.com/episode-21-your-financial-forecast-not-a-tool-to-predict-the-future-but-a-tool-to-create-it/

In this series of episodes of Emerge Dynamics we’re diving into a new, highly relevant topic: Web 3.0. The next level of the internet and how it influences transactions is going to have a large impact on business owners everywhere. Within this evolution, you’ll hear other possibly new terms such as blockchain, decentralized finance, smart contracts, and more. With all these forthcoming changes, it’s important to know where you need to focus so you can emerge from your peers. We start this series with a couple of episodes about what money is and what some of its shortcomings might be in today’s world. We’ll then bring this to a conclusion by explaining why a business owner of manager needs to understand this. In a well-functioning society, you don’t typically need to understand how money works on a deep level. However, with this evolution, it’s important to know the state of money in the world and how it’s changing to support your business. In earlier times, humans got what they needed via direct exchange: bread for cheese, clothes for shoes, one good for another. While it seems simpler on the surface, there were a lot of problems with this system. We then shifted to indirect exchange by using another medium—money—to acquire goods. In order to be most effective, money has to be salable across space and time. Money is intended to serve three functions: be a medium of exchange, retain store value (not rot or die), and be a unit of account. Our conversation today focuses on the store of value function and how today’s money starts to lose this ability as more and more of it is created. After thousands of years, humans shifted to using silver and gold as units of money. And then gold and silver were used for thousands of years and for very good reasons. Gold is almost indestructible, difficult to create, and it’s very rare, making it the top choice to use for exchange at this time. Part two of this series will pick up and take the discussion to where we stand with money today. Here is the link to The Bitcoin Standard which is the book we reference as we walk through the history of money: https://academy.saifedean.com/product/tbs-hardcover/ Listen to the full episode here: https://emergedynamicspodcast.com/episode-29-money-mechanics-for-people-who-run-businesses-part-1/

What is the best way for a business to develop a strategy?On this episode of Emerge Dynamics we’ll be discussing several frameworks for strategy while highlighting the pitfalls of giving this lip service. Once you know your purpose, vision, and objectives, it’s time to start putting a strategy in place. Your strategy is the “how” of your business, and once you understand your strategy, it informs how you articulate and refine your objectives. Knowing what your strategy is and isn’t is crucial to understand before creating one. Your strategy needs to make you stand out from the competition and clearly be something you can not only execute, but execute better than anybody else. Whether you acknowledge it or not, your differentiation does matter to your customers. If you want some insight into your strategy, ask yourself: “why do customers choose to buy from me?” A Blue Ocean Strategy helps you avoid turning your industry waters red with competition. If you can create an offer people want and bring it to customers in a unique way, you’ve got a way of navigating the competitive landscape. Many organizations go from vision to action without implementing a strategy. Your actions and tactics are easier to lay out when you have a strategy, especially as a team driving towards big-picture goals. Without this, you’ll end up with tactics that may or may not fit or work for your business. Knowing and investing in your core competencies is a critical part of building your strategy. If your business strategy is not where it needs to be yet, find someone who can facilitate this process with you. It’s not impossible to do it on your own, but it’s more difficult if you don’t have an expert walking alongside you. Once you have strategic planning in place, you can move into execution. Listen to the entire episode here: https://emergedynamicspodcast.com/episode-7-best-mics-for-podcasting/

Emerge Dynamics is all about how businesses can emerge from their peers, and businesses accomplish that when they are well-run. This is especially true during a downturn, so today we’re focusing on how you can guide your business through these challenging times. There are so many bankruptcies happening in 2023. Why is that? It can be easy to throw the blame to the economy or the government, but the reality is that businesses is trouble now were unhealthy even when the economy was strong. There are some estimations that external factors only account for 21% of business failures. In addition to the Z-score, which measures a company’s likelihood of going bankrupt, Edward Altman also created an empirical measure for how many businesses will fail in the economy as a whole. One of the variables in the equation is the money supply, which has increased greatly in the past few years. At some point in time, that’s going to stop. This equation may begin show even greater correlation during this downturn. Despite everything going on in the economy, the main cause for decline is still bad management. When interest rates are so low, businesses may have chosen to borrow cheap money just because they could. If they had put some more thought into it, they could avoid the situation they’re in now that arose from over-leveraging. Another factor causing businesses to have issues is having an “authoritarian leader.” There needs to be a balance between being a strong leader and taking input from others. If a business is declining and has this type of leader, it’s probably their fault. Listen to the full episode here: https://emergedynamicspodcast.com/episode-49-im-turning-my-company-around-im-starting-with-the-man-in-the-mirror/

On this episode of the Emerge Dynamics podcast, we’re revisiting our strategic “dream planning” conversations to cover an objection to the process. The objection is: does all this planning paralyze? After all, if you plan too far in advance, it may become irrelevant. While the objection is understandable, the conclusion isn’t true. Analysis paralysis is a real thing—but there’s no danger of this happening when you go about the dream planning process properly. Knowing your mission and vision sets the compass of your organization. Objectives and actions set your tactics. These are all important to your company, and it’s necessary to have strategy with execution. When you create your plan, you never know what’s going to happen. You could come up against inflation, supply chain issues, or other unforeseen events. Should you still make one? Of course. The boundaries you create on the front end keep you from being reactionary, and help you move the company forward no matter what’s happening in the world. Your plan also helps frame how you will respond to any issues. It gives you the guidance and parameters of actions that could be taken. You can always reflect back on your purpose to keep you grounded. When you have a clearly defined true north, your team can respond appropriately when an off-the-script event happens. When the world shifts beneath your feet, your plan helps you anticipate changes sooner. Think of your plan as a tool for operating and functioning intentionally and without reactivity. You can actually use this plan to look ahead and know you will keep meeting your company mission and goals. A clearly defined plan is foundational for companies who want to thrive. Listen to the full episode here: https://emergedynamicspodcast.com/episode-9-does-planning-paralyze-or-help-you-thrive/

We're excited to share this video insight into a project we've been working on for several years. JumpStart Africa is a Ugandan organization that has provided the capital necessary for hundreds of entrepreneurs to grow their businesses to the point that they move their families from the slums to houses. Recent initiatives have equipped Jumpstart Africa with world-class, cloud-based accounting software. And a partnership with Inveniam has allowed them to be one of the first in their industry in the world to have their loans tokenized in a blockchain. We have begun a pilot project to increase JumpStart Africa’s loan size from micro-loans to medium size business loans which will have even more impact and job creation. With the data from this pilot we expect to bring large institutions onboard with the potential to transform the entire continent. The initial $25,000 of the pilot has gone well and they need your help to successfully complete it. They are seeking to raise $300,000 of donations which will be used to expand their initial lending portfolio. Every little bit helps. You have a unique opportunity to know you are donating to a sustainable organization that will re-lend your funds numerous times, and that more families than you will ever realize may be able to eat dinner because of you. Getting funds to them is easy through our vetted partnership with Partners Worldwide (https://lnkd.in/e22_5qDZ) . We've donated thousands of dollars and countless hours to build Jumpstart Africa to sustainability and with your help we can get them over the finish line. Together we can do our part in making this a better world. Please prayerfully consider if you are called to support this work and let us know (https://www.emergedynamics.com/volunteer-fighting-poverty) if you want to discuss further. Please also forward this video to anyone you know who would have interest.

You've built your business through countless hours of hard work. More than anyone else in your organization, you have the ability to make it rain. And yet - you keep running into a plateau of frustration that is almost impossible to breakthrough. Did you know that being a rainmaker can actually get in the way of maximizing your business valuation? There is a better way. Join us as we provide 9 easy steps to move beyond rainmaker and into a business value greater than you ever dreamed. https://www.emergedynamics.com/value-builder-score

You've built your business through countless hours of hard work. More than anyone else in your organization, you have the ability to make it rain. And yet - you keep running into a plateau of frustration that is almost impossible to breakthrough. Did you know that being a rainmaker can actually get in the way of maximizing your business valuation? There is a better way. Join us as we provide 9 easy steps to move beyond rainmaker and into a business value greater than you ever dreamed. https://www.emergedynamics.com/value-builder-score