Antifragile Businesses

As the world takes baby steps to get back to business, most business owners will be considering what the future holds for their businesses and how they can mitigate the impact on their businesses from the possibility of further lockdowns or from an unknown future catastrophic event.

The concept of an antifragile business put forward by Nassim Taleb in his book Antifragile is of particular relevance in the Covid 19 world. According to the Sunday Times review of the book ‘Something antifragile actively thrives under the impact of the unexpected..’. How important is that concept in the Covid 19 world?

Not only should businesses strive to be Antifragile, but so should their finance departments. A Virtual CFO or Part Time Finance Director can help your business on the road to Antifragility. Their expertise can ensure that your finance systems and business processes can survive and increase in capability when challenged by stressors, shocks, volatility, mistakes, faults, attacks, or failures.

Of course, not every challenge will be on the scale of a Pandemic but smaller shocks such as the loss of a key supplier can have a disastrous impact on poorly prepared businesses and have huge financial implications for unprepared organisations.