Hello Everyone, we wanted to share a perspective with you on the Russian-Ukrainian war. Most of us have heard the widely accepted narrative on this war from the mainstream media and global government leaders for the past few months. We know Putin invaded the Ukraine, that’s a fact…but why? Is it that Putin wants to expand across eastern Europe and regain the former U.S.S.R.’s geographic boundaries? Or could it be that he simply wants to protect Russia’s borders? What’s the truth behind this?
As we all know (or at least we should all know), there are always two sides to every story. The two sides may not be equal, non the less, there are still two sides. In either case, we believe we have only heard one side. More and more, we are seeing and hearing global narratives that are shaping the thoughts, minds, perspectives, and policies of the world. Usually, it’s the people who suffer for the poor leadership of government leaders. So this begs the question…Is the current narrative “truth”? That’s what we at GMS and our readers and clients are always in search of…truth. We certainly don’t claim to know all the answers on various topics, but we do pride ourselves on considering alternative viewpoints and take them into consideration before arriving at a conclusion on any topic of importance. Thus, we are always willing to consider alternate perspectives especially when they deviate from the common, agreed upon narrative. Before we go further, please understand this point: Let us (GMS) state emphatically, that we are NOT supporters of either Putin nor Zelensky or war. War is brutal, ugly, and costly in all respects. We also believe in most cases, war can be avoided with strong, competent diplomacy backed by decisive, strategic and tactical military action (only if absolutely necessary). Unfortunately, we haven’t witnessed any competent level of diplomacy for many decades.
So let me ask you a question…Are you searching for “truth” or simply seeking information to back your personal conviction or inclination regarding the war in the Ukraine? So, we challenge you to open your mind to alternative sources and positions that may differ from what current government officials and the mainstream media are propagating. It’s a tough soul-searching question that all of us need to ask ourselves regarding any important issue. All we’re encouraging our readers to do, is to watch the following interviews and discussions below, then give some critical thought as to their informational content and perspective they present. Then, weigh it against what you have been hearing or listening to over the past year:
That said…we too (like many of you) are becoming increasingly skeptical of what global governments are presenting as “truth” on many topics of importance. This is especially true when they speak on a unified basis without transparency of open discussion and debate, rather, opting for censorship or cancelling any person opposed to their narrative. This became especially heightened to us when the mainstream media echoed the same message without independent, transparent, in-depth research, and a willingness to look at alternative viewpoints regarding the covid pandemic. What happened? The high-tech social media platforms took it upon themselves to violate every American’s constitutional right to freedom of speech…simply because they disagreed with another’s position, prevalent narrative, or corporate policy (at the expense of violating our constitutional right).
Could this also be the case regarding the Russian-Ukrainian war? We’ve shared a few perspectives with you that do not follow the mainstream media nor with global government leaders narrative. We’re not saying they’re correct in their stated positions, just that they simply should be allowed to be heard and considered in order for us to have a more complete understanding of an issue of such great importance, so that we can make better informed decisions rather than simply following the current narrative like sheeple into making poor policy decisions. The question you have to ask yourselves (each of us) is, are you willing to consider alternative perspectives? Or do you simply trust and comply with the mainstream narrative being pushed by global leaders and news sources as truth? We always encourage our readers to do their own homework and research. Listen to the above referenced interviews and compare them to what you’ve already heard. Get better informed…Listen to both sides of an issue. Then, make up your own mind…and come to a better balanced and informed conclusion.
GMS BUSINESS CONSULTING, INC.– Provides lawyers/law firms, for-profit & non-profit organizations, and business professionals with Accounting Services, Business Development Services (M.A.P.), Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently. We do NOT provide investment advice. Contact Us if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business. We would welcome the opportunity to speak with you.
Bitcoin’s Sustainability…Yes or No? Is it possible? Does it make sense? Does it make sense to place so much time, capital, and resources into crypto currencies like Bitcoin (and others on Blockchain technology) that require extensive consumption of energy, that lack transactional performance and efficiency, are costly on both sides, and have security vulnerabilities? It appears to us, that these are some of the inherent risks with crypto currencies built with blockchain technology versus “hashgraph” technology. See these comparative charts of the top two blockchain crypto’s built on Blockchain technology versus Hedera’s Hashgraph technology and their crypto currency “HBAR” (CHART #1 and CHART #2).
Many proponents of Bitcoin and hundreds of other crypto currencies proclaim the benefits of these crypto’s, in that they provide a financial solution of decentralization and independence from the control of central banks and the current global financial system. Sounds like it would be a good thing, right? But is that even possible? Is it practical? And if it is, at what cost? Is it even possible to replace the current global financial system with hundreds of different crypto’s currently in the crypto world, each lacking the forementioned performance attributes and capacities (refer to the charts above) required to effectively and efficiently replace the global financial system?
Does it make sense to move from a centralized global financial system that is rapidly becoming evermore streamlined and centralized (as in the sanctions being used against Russia in the current Ukraine/Russia conflict), and move to a “decentralized” system built on what…a lagging technology such as blockchain that is slow, expensive, and incapable of handling hundreds of transactions let alone the billions of transactions on a daily basis? Perhaps we (GMS) are missing something??? How would this “new” system and all their connectivity systems be used on a practical daily basis…how would it be implemented, regulated, monitored, managed and secured? And by who? Consider this ARTICLE on Bloomberg News. Well…let’s explore a few of these points a little further:
PERSPECTIVES: Is Bitcoin Sustainable?
We believe digital money in place now is and will continue to be the progression of future financial transactions globally. But in what form? Is Bitcoin’s Sustainability and other Blockchain crypto’s for that matter, realistic in today’s digital payments system? We have all become accustomed to purchasing products and services in both physical and online stores by either entering a few keystrokes on the computer, tablet, or smartphone by either tapping or scanning our debit cards/credit cards/or smartphones without the need or use of cash or checks, right? We would also presume that nearly all current fiat currencies in the developed countries and in most under-developed countries are also available in digital form as well (no need to carry cash if that’s your choice). For many years the Central Banks digitally increase and decrease the money supply with book entries, and physically prints just enough cash to sustain our current global cash transactional needs. That said, there are several issues surrounding cryptos, and in particular Bitcoin or any other crypto currency based on blockchain technology that we need to address if we’re going to consider adopting them into our daily lives, and to put our trust and confidence in these platforms. We see five critical issues surrounding the viability of Bitcoin and other crypto’s utilizing Blockchain technology, if they can “reasonably” be expected to drive the future global transactions and financial system. Below are the key challenges that stand out to us:
– POINT #1: Transactional Processing Comparisons:
Simply compare the processing capabilities of Bitcoin and Ethereum (using blockchain technology) versus Hedera’s HBAR (using Hashgraph technology). Once again, please refer to these charts: CHART #1 and CHART #2. The evidence and conclusion is obvious! Bitcoin can effectively handle 3 transactions per second (with finality); Ethereum can process a whopping 12 transactions per second (with finality); and HBAR can handle 10,000 transactions per second with finality (and is fully scalable to handle much, much more). Are we missing something? Or is the world being deceived to place their money in ponzie scheme technology “assets” like Bitcoin and Ethereum? We just ask the simple question…”Why would anyone ever place their confidence in a flawed crypto, like Bitcoin or Ethereum which are both based on yesterday’s technology, blockchain technology?” So is Bitcoin’s Sustainability realistic? Let’s look further…
– POINT #2: Transactional – Fee Comparisons:
Simply compare the transactional costs of Bitcoin and Ethereum versus Hedera’s Hashgraph HBAR crypto. Once again, please refer to these charts: CHART #1 and CHART #2. As you can see, Bitcoin transactional cost come in at $22.57; Ethereum transactional cost comes in at $19.55; and HBAR transactional cost comes in at $.0001. The evidence and conclusion is obvious. Let’s move on to the next point…
– POINT #3: Transactional – Energy Cost Comparisons:
The costs of mining and maintaining Bitcoin and other cryptos using blockchain are substantial, and just don’t make sense to us, ESPECIALLY when producing a more costly yet less efficient, and less secure crypto. Please listen to this VIDEO on Bitcoin mining and energy sourcing. Does this make sense? The energy costs just to mine/produce Bitcoin alone are now becoming evident around the world. Mining companies around the world are actively seeking higher efficient / low carbon footprint energy sources to mine Bitcoin. That’s a respectful objective…to reduce the cost of product input and its carbon footprint on the environment. But how much can Bitcoin, Ethereum and other cryptos built on Blockchain technology realistically reduce their costs when compared to the energy costs of Hedera’s HBAR using Hashgraph technology?
Well, let’s look at the charts once again for a comparison (CHART #1 and CHART #2). Bitcoin energy consumption costs come in at 885 kwh; Ethereum energy consumption costs come in at 102 kwh; and HBAR energy consumption costs come in at .00017 kwh. Need we say more? Are you arriving at the same conclusions we have come to? But there’s more, much more if you’re willing to research for yourselves and not take the words of others at face value. The evidence and conclusion is obvious to us. So again, we ask is Bitcoin’s Sustainability realistic? Next point…
– POINT #4: The IMF/IBS/World Bank Factor:
If you believe there will be an independent financial system free of oversight from the world’s central banking system, then we believe this is a very, very flawed and naïve perspective. Do you really believe the central banking powers of this world will allow a replacement financial system that cuts them out of the equation? Who will regulate the cryptos and the exchanges they’re traded on? Who will oversee regulatory issues on an global level? Which crypto will become the “world crypto currency” to be used for daily transactions from over one thousand cryptos currently in the world today? Bitcoin…Ethereum? Really? Based on the evidence just presented? Do you honestly believe Bitcoin or Ethereum have the technological capabilities and capacities to handle this on a global basis? If so, then I urge you to please refer once again to the two charts listed above. In our opinion, the central banks have been working on their own crypto to be the replacement digital currency.
We also urge you to listen to this brief STATEMENT made by the General Manager from the BIS (the Bank of International Settlement). (Please note: this video was shared by Ms. Catherine Austin Fitts through her newsletter, who in our opinion is one of the most intelligent, thoughtful, strategic, and sincere person we have had the privilege of listening to over the past decade. You can subscribe to her newsletter atThe Solari Reportor search for her interviews on YouTube or other platforms). Ok…getting back on point…We also believe the central banking powers have utilized the private sector to create an atmosphere of crypto competition to design and engineer a best-in-class crypto technology. The most capable technology that emerges from this hi-tech competitive war, will legitimately have the capacity to replace existing fiat currencies globally. Once the global banking authorities have tested these technologies and their capabilities on all fronts and make their decision, then they will introduce this new global crypto currency. We are pretty confident it won’t be Bitcoin or Ethereum or any other crypto currency built on Blockchain technology. Rather we believe the future crypto currency (most likely the CBDC) will be built on the Hashgraph technology platform. We’ll see…we could be wrong, but Hashgraph technology appears to be the only technology available in the marketplace capable of handling the global financial transactional needs. So again, we ask is Bitcoin’s Sustainability realistic?
– POINT #5: A Possible Solution:
Hashgraph technology is engineered by a company called Hedera, and their crypto is called HBAR. Ever heard of it? Most likely not. We encourage you to take a deeper dive into the capabilities behind Hashgraph technology and their founders (Leemon Baird and Mance Harmon of Swirlds and Hedera…the creators and minds behind Hashgraph technology. Based on our research over the years, Hashgraph appears to be the only technology platform solution capable of meeting all the requisite standards to become “the” technology of choice used in the future global financial system. So, how does Hashgraph technology differ from other cryptocurrencies built on Blockchain technology? The following two links are with the co-founder of Hashgraph (Mance Harmon) who will better explain the differences between Blockchain and Hashgraph technologies than I can do within this post: Link #1 and Link #2.
Question…So why have most people not heard of Hashgraph technology and their crypto called HBAR? In our opinion, while others have hit social media platforms with a frenzy to promote their “crypto du jour” for get rich quick schemes via short-term trading, Hedera’s strategy on the other hand is built as a serious mathematical, engineering, and technology solution to a very complex challenge. In contrast to other crypto’s including Bitcoin and Ethereum, Hedera has engineered their technology platform from the bottom up. It is designed to be a viable technology solution to solve the future digital global financial transactional needs and challenges AND…incorporates a Global Governing Council to oversee its future utilization. Hashgraph is specifically designed on best in class, mathematics and software engineering that solves the deficiencies that current platforms cannot (like blockchain), and is capable of meeting the ever growing and complex needs of individuals, businesses, and governments globally. Once again, we urge you to visit their websites (Hedera and Swirlds), and you can also refer to our earlier posts on Bitcoin versus Hashgraph by clicking HERE.
CONCLUSION: Is Bitcoin Sustainable?
In conclusion, we believe the frantic Bitcoin price rise is largely based on a presumed “value” by a segment of the public. So the question is; is Bitcoin’s value one of the best Ponzi schemes of the 21st century or is it legitimately a store of “value”? We don’t know the final answer to that. All we can say, is when a crypto…a “technology asset” such as Bitcoin or Ethereum, are based on an inferior technology platform like Blockchain, that it is costly to produce, that it is costly for consumers to transact, and that it is “produced” from a highly inefficient environmental perspective, and that it has security vulnerabilities, why would anyone place any real “value” on it other than for pure speculative purposes? That’s the question we should all ask ourselves.
Sure, if we were speculative traders, I would have loved the opportunity to buy Bitcoin years ago, and sell at today’s price…who wouldn’t? But that’s not the point. The point we’re trying to understand and to share with our readers is…Is there real intrinsic value and sustainability in Bitcoin and these other crypto’s built on Blockchain technology or not? Is it really a store of value? If so, what is their value based on? Does it produce anything…anything of real benefit? Is there real value in Bitcoin or these other crypto’s because other financial experts or celebrities are getting on the bandwagon of something they really don’t understand? Have they been sold a bag of social media hype and promotion that is costly and inefficient? Or…Could they be right and they understand something we don’t? Could we perhaps be missing something and be wrong? Perhaps…but we don’t think so given the data available. We’re always willing to consider new, relevant, viable data that could change our perspectives. However, after nearly four years of research, we keep coming to the same conclusions over and over again because there is no other compelling evidence (not opinions) that we’ve been presented with to change our perspectives. We keep asking ourselves the same questions about Bitcoin and nearly all the other crypto’s…what is their intrinsic value?
In closing, let me ask you this, if Bitcoin or any other crypto (except for HBAR) were valued at$1 or $500 or $500,000 (instead of $40,000 at the time of this post), how would you understand or describe their intrinsic value? Would their utility value be any different? Based on what? We understand the total amount of Bitcoin is fixed and cannot be increased…so what? Does that mean if you have only 21 million rocks of a particular mineral makeup, that therefore those rocks have a store of value? Perhaps it does to those who may collect rocks…they may value those rocks. But what about those people who don’t place any value on those rocks because there is no utility value of the rocks themselves nor in the minerals that can be extracted from those rocks? That’s where our understanding of Bitcoin and nearly all the other crypto currencies we have researched, with the exception of Hedera’s HBAR (because it can solve the issues centered on digitizing financial transactions utilizing a crypto currency.
We believe Bitcoin and many other crypto’s are priced in the market today by supply and demand based on short-term trading hype, mainstream media and social media hype promoting Ponzi-like speculative assets that have little or no realistic or practical utility or intrinsic value. We understand…people have become rich, filthy rich trading these cryptos, no doubt (kudo’s to them)! There are some very rich people that have become tremendously wealthy trading these. Our concern or issue isn’t centered on those people, rather to better understand “why” would anyone place any value on a technology tool or product that has not intrinsic or utility value. Our concern also being expressed is for the everyday person who may get swayed into pouring their life savings or a significant portion of their retirement assets into these so-called digital “assets” (that in our understanding have no real value), and they lose everything they have or a significant portion of their nest egg.
We also want to say, we do believe there are some genuine crypto engineers and software developers who are honestly striving to engineer better financial solutions to our current fiat currency system. We applaud them for that! But at the end of the day, they must provide value…not just short-term hyped trading value. But in our opinion, the crypto currencies available in today’s market place that are built on Blockchain technology have three significant challenges facing them:
Most Cryptos are Utilizing an Inferior Technology – that are incapable of handling the vast amount of financial transactions on a global basis efficiently, that is cost effective to produce and transact, and are highly secure.
The Influence of the IMF/BIS World Bank/Central Banks – If you believe the global financial powers of the world (the IMF/BSI/World Bank and Central Banks) will relinquish control of the future financial system to a decentralized platform of crypto currencies controlled by individuals…then we respectfully disagree. Again, take a listen to what the General Manager of the BIS says about crypto currencies HERE.
Most Importantly…The Word of GOD – In the Bible, God tells us in Revelation 13:11-18 that there will come a time in the near future (based on bible prophecy timelines), when those who do not have the mark of the beast cannot buy or sell… If you’re a believer and follow the Word of God, think this through for just a moment… This means that a future global financial system MUST be in place in order to enforce this, right? This financial system therefore would likely be built on a “centralized” platform so that buying or selling can be enforced…not on a “decentralized” platform, right? This centralized platform must also be capable of executing transactions or cutting off an individual’s access to their financial assets on a global basis in real time, right? The global financial system therefore, cannot be built on hundreds of decentralized cryptos or on a crypto that can only process a handful of transactions per second. The global financial system therefore, would likely need to be be built on a centralized system that must be capable of handling the billions of individual, business and government financial transactions globally on a daily basis. Would you agree?
We also believe the evidence demonstrates that Blockchain technology cannot be the technology utilized because the future currency/crypto currency that would likely be used, must therefore be capable of handling all the banking and financial transactions on a global basis. Why? Because it can’t handle the transactional volume, it isn’t cost-effective on both sides, it isn’t energy efficient, and it isn’t secure enough to meet the global financial system’s needs. So what other technology is currently available to meet the global needs on a daily basis? Based on our research, we believe the technology most likely to be utilized would be Hashgraph technology. So…we come back to the same question from the beginning; Is Bitcoin sustainable…Yes or No? Can it go higher in price? Sure it can as long as there are people who believe it has value! But ask yourselves…value based on what? Speculative demand or real intrinsic or utility value? Only time will tell, but in the meantime we just wanted to cautiously present data and perspectives that we have found to be compelling. After viewing the comparative data presented and the challenges for Bitcoin and Blockchain based crypto’s, we ask you this question…do you believe Bitcoin’s Sustainability is realistic?
The conclusions we have reached (as of today’s posting date), leads us to our forestated conclusions. That said, we are always open to new insights, perspectives and ideas based on sound, proven, verified data. Then, once presented with this evidence, we are certainly willing to update or modify our positions when presented with undisputable evidence…not by social media hype, financial pundit hype or Wall Street hype. Until next time, and as we always state in our posts, do your own homework, then make your own informed conclusions and decisions…
GMS BUSINESS CONSULTING, INC. – Provides lawyers/law firms, for-profit & non-profit organizations, and business professionals with Accounting Services, Business Development Services (M.A.P.), Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently. We do NOT provide investment advice. Contact Us if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business. We would welcome the opportunity to speak with you.
Effective Monitoring & Evaluation is the final point of discussion in Part-3 (of our 3-Part series) of posts centered on establishing and implementing an effective Master Action Plan (M.A.P.). As you may recall, Part-1 focused on Strategic Planning, and Part-2 focused on Tactical Execution & Management. All three segments are essential components to the overall success of your M.A.P. As mentioned in our previous post, the three stages of an effective Master Action Plan include:
PART-1 – Strategic Planning
PART-2 – Tactical Execution & Management
PART-3 – Effective Monitoring & Evaluation
OVERVIEW:
Regardless of ones title or position in a firm, most of us will at some point have limited to extensive management oversight and responsibility. It is therefore necessary to apply effective monitoring and evaluation tools and techniques within a Master Action Plan in order to effectively monitor and evaluate progress. Whether it be a sole practitioner, Associate, Partner or an Office Managing Partner, effective monitoring and evaluation must take place. It becomes MOST CRITICAL, if you have management oversight over employees and/or over practice operations and its’ overall success; effective monitoring and evaluation of progress is essential.
Caution on Information Overload
That said, at GMS we have found that in today’s digital world, we are often times overwhelmed with data, data and more data. When it comes to effective monitoring and evaluation our progress, often times the software we use produces such immense amounts of data, that it can also become too granular for our specific needs. This can often result in that age-long saying that “We can’t see the forest through the trees”. We then risk becoming locked into becoming micromanagers in terms of data evaluation and management, when in fact we may also need to be macro managers as well. This is where the challenge of merging or balancing these two functions becomes both art and science.
HOW TO:
Effective Monitoring & Evaluation
Each Master Action Plan (M.A.P.) should be standardized in terms of establishing parameters for goals and objectives, yet be designed to meet the specific needs of each intended user, and to provide management with effective monitoring and oversight. For example, Summary pages may be utilized to provide management with just enough information to measure the resulting effectiveness and progress of those he/she has responsibility for in terms of management oversight and mentoring. Yet for the manager’s specific goals and objectives for themselves, their parameters should also be designed to accommodate the appropriate detail they specifically need to effectively monitor and evaluate their own individual progress. As you drill down to the front-line workers, their Master Action Plan should also be designed to accommodate their specific goals and objectives in a more granular fashion, yet have the flexibility built in for any management oversight they may have. So how do you accomplish this balance?
Assess the organization’s need of a Master Action Plan that reflects their vision and goals for the short/medium/and long term.
Assess the vision of the organization in terms of the number and type of staff needed to successfully operate their organization.
Assess each employees specific responsibilities, management oversight, and the goals and objectives they need to achieve in accordance as to how their performance will ultimately be measured.
Assess what information you need to effectively monitor and evaluate others without getting too granular.
Assess what information you need to have, and how it will be monitored and evaluated for YOUR performance.
Combine all the above into a Master Action Plan wish list.
Then begin searching for an existing Master Action Plan that meets your needs or design your own in accordance to the above stated guidelines.
CONCLUSION:
It comes down to three choices
You can research, design and implement your own solution. This is certainly a feasible option, but it also comes at a price too…or
You can research what platforms exist in the marketplace that would meet your needs in terms of: templates, relevance of templates and content to support your business, supported with experienced consulting/ coaching/ and mentoring. This option comes at a price too…
You can consider speaking with us about our M.A.P. solution. You’ll discover what’s included, the pricing, and whether it is the best fit for you and your organization.
This sounds self-serving to say this, but we have designed and provide a Master Action Plan solution that accomplishes all that we have discussed in these past three posts, including: Strategic Planning, Tactical Execution & Management, and Effective Monitoring & Evaluation. We designed our Master Action Plan solution not by accident, rather out of necessity, based on several decades of experience working for national and international business consulting firms, helping businesses and business professionals across various industries on planning how to meet their goals. Quite honestly, we found nothing in the marketplace that comes close to meeting our organization’s needs and the needs of our clients, as the solution we provide (by God’s grace and leadership.). Our solution is called “M.A.P.“…it’s our Master Action Plan. We have specifically designed 6 versions of our M.A.P. solution in order to meet the needs of:
Independent Lawyers
Lawyers within Law Firms (Associates to Partners)
Law Firms (for Managing Partners)
Non-Profit Organizations (Presidents & CEO’s of Schools/Universities/Foundations etc.)
Lastly, keep in mind that having Master Action Plan templates are extremely important, but it’s really only half of the equation for having a successful Master Action Plan. The other half of the equation is found in the quality of experience and the support provided by mentoring/ guiding/ and coaching clients throughout the process. From planning and strategy, to completion and implementation and from monitoring to evaluation. This is how an ordinary business plan becomes a successful, effective and powerful Master Action Plan. We have the M.A.P. solution, and we know every business and business professional has the need of one (whether they realize it or not!). The questions are: 1) Do you see your need of one, and 2) Are you ready for one? So once again, you have three choices…
As we always say, do your own research, if you’d like to…speak with us, great. If not, that’s ok too. Either way, you’ll put yourself in a better position to make a better informed decision… regardless of the choice you make. We’re here to help our clients and prospective clients, not to hassle them. We hope you have found our last three posts to be helpful and insightful.
GMS BUSINESS CONSULTING, INC. – Provides lawyers/law firms, for-profit & non-profit organizations, and other business professionals with Accounting Services, Business Development Services M.A.P., Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently. We do NOT provide investment advice. Contact Us if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business. We would welcome the opportunity to speak with you.
TACTICAL EXECUTION & MANAGEMENT– is Part-2 in our 3-Part series for creating an effective and successfulMaster Action Plan. In our Part-1 post, we addressed the essential starting point and purpose of Strategic Planning. Today’s post addresses the need for Tactical Execution &Management to reach your goals and objectives that were established in your Strategic Planning. As mentioned in our previous post, the three stages of an effective Master Action Plan include:
PART-1 – Strategic Planning
PART-2 – Tactical Execution & Management
PART-3 – Effective Monitoring & Evaluation
PART-2 – TACTICAL EXECUTION & MANAGEMENT:
Tactical Execution & Management is the critical component to achieving the goals and objectives in your Master Action Plan. Without Tactical Execution & Management , your strategic planning becomes just wishful thoughts and dreams. Also, bear in mind, that if Strategic Planning is where successful results begin, then Tactical Execution & Management determines how your results will end…either in success or failure.
So, once you have completed the Strategic Planning phase within your Master Action Plan, and have identified your key goals and objectives, then you need to apply Tactical Execution & Management by:
Establishing Action Steps for each Goal
Prioritizing the Action Steps for each Goal
Assigning responsibility for each Action Step to the person/ team or group to complete.
ESSENTIAL ELEMENTS:
We’ve established that Tactical Execution & Management is essential, and this needs to be approached and implemented in a systematic, disciplined, and practical manner. Below are a few “Essential Elements” to Tactical Execution & Management based on our Best Practices approach:
ACTION STEPS – These need to be identified, documented and prioritized in a sequential order as they need to enable the person/ team/ group to progress from one Action Step to another. If this is not done, then your progress for completion may become delayed, disjointed, and may ultimately result in a failed goal or objective. A most simple yet illustrative example is; that each Action Step must be prioritized in a specific order…just as it would be essential in teaching a child to tie his/her shoe. One mis-aligned step in the process, and the results are clear. Yet when Action Steps are properly identified, documented, prioritized and completed, these result in a progressive process towards achieving your goals and objectives.
DEADLINE/BENCHMARK DATES – All Action Steps must have established deadlines or benchmark dates. Without deadline dates, there is no sense of urgency, commitment, need of completion nor the ability to move forward in a progressive manner to the next Action Step. By establishing and adhering to deadline dates, progress is made, and the next step can be engaged in a logical and methodical manner.
ASSIGNMENT OF RESPONSIBILITY – All Action Steps must be assigned to someone responsible for completing the task. The assignment of an Action Step to an individual places the responsibility for completing a specific task by a certain date. Assigning personal responsibility establishes participation, responsibility and accountability. Assignment of responsibility also provides the evidence of performance in how we gauge and measure an individual’s contribution and value to a group or organization, and is linked to the overall success or failure in achieving the stated goals and objectives.
PRIORITIZATION OF IMPORTANCE – Each Action Step must be prioritized in terms of importance to achieving the stated goal. Prioritization also aids the individual responsible for completing the task by providing scheduling guidance, whether it should be high or low on their list of other tasks they may be accountable for. Given that there could be many Goals and related Action Steps in a Master Action Plan, both must be prioritized in terms of their importance and timeliness of completion in order to achieve the organization’s goals and objectives.
STATUS OF COMPLETION – Each Action Step must be monitored with a status of completion. Designating whether an Action Step is completed (with either a “Yes/No/IP” (In process) status), allows management evaluate and measure their progress. This status benchmark must be used to monitor the progress of the designated individual, team or group as to whether they have been successful in completing the specified and assigned Action Step in a timely manner.
CONCLUSION:
As stated earlier, without Tactical Execution & Management, your Strategic Planning becomes nothing more than an exercise in listing dormant and unfulfilled dreams. We would never want that to happen to you or to any of our clients. That’s why we developed the M.A.P. solution.
The M.A.P. solution that GMS Business Consulting, Inc provides, delivers all you need for Strategic Planning and Tactical Execution & Management for you and your organization, each and every year. M.A.P. is a strategic and tactical Master Action Plan that sits above all your business operating platforms, time and billing platforms, sales & marketing platforms, inventory control platforms, communications platforms, and data storage and recovery platforms. Those are all “COMPONENTS” within your M.A.P. All of those platforms may change, merge, be substituted or disappear each year. Your M.A.P. solution will provide the strategic evaluation and planning along with the tactical execution and management for all facets of our organization, year after year. Our M.A.P. solution helps you to define your vision, how to establish a strategic plan to achieve your vision, and then how to successfully implement and manage the action steps necessary to meet your goals and objectives for your organization. This is your road M.A.P. to your success.
All businesses should have a M.A.P. to guide, direct, execute and monitor its vision and progress. Contact Us if you have any questions or if we can help you to Strategically Plan and Tactically Execute & Manage your business with success and piece of mind.
Our next Post (Part-3), will focus on Effective Monitoring and Evaluation. See you in a couple weeks. Have a successful and blessed week.
GMS BUSINESS CONSULTING, INC. – Provides lawyers/law firms, for-profit & non-profit organizations, and other business professionals with Accounting Services, Business Development Services (M.A.P.), Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently. We do NOT provide investment advice. Contact Us if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business. We would welcome the opportunity to speak with you.
Strategic Planning is where successful results begin. This is Part-1 of a 3-Part series of an effective Master Action Plan. The 3 parts we’ll address over the next 3 posts include:
PART-1 – Strategic Planning
PART-2 – Tactical Management & Execution
PART-3 – Effective Monitoring & Evaluation
PART-1 – STRATEGIC PLANING:
Strategic Planning is where the Master Action Plan for your law practice or business “begins.” I’s vital to establish who you are (as the CEO and as a business), and this takes some critical thought. You need to define the products or services you’re offering to potential clients or customers, and why they should buy you and your firm versus your competitors. You also need to describe the direction your organization is heading in the future, and why. You clients and customers want to know…
Strategic Planning is critical, as it establishes and outlines from the outset your vision, mission and goals of your organization. Without strategic planning, your organization will have little or no direction or impact, and your target market will see this one way or another. Think of strategic planning in these simple terms: It’s like telling someone to get in the car and drive…and they respond, “Why? Why am I driving? What for? Why do I need to drive? Where am I going? Will you give me directions? What can expect along the way? When will I get there? Are there any landmarks to where I’m going? How long will it take? How will I know when I get there? What do I get in return for driving there?”
CONCLUSION:
Strategic Planning is your starting point. Based on the amount and quality of time you invest to strategically plan, will greatly impact the road and journey you’ll experience either to success, frustration or failure. The degree of strategic planning you commit to your organization, will significantly impact all areas of your organization, whether for good or bad.
So, how can you as the CEO of your organization, keep all this strategic planning and information organized, documented, usable, practical, measurable and efficient? Ho you do this will also greatly impact your level of success. That’s why at GMS Business Consulting, Inc. we provide a powerful business solution called M.A.P. (it’s a Master Action Plan) designed to help any lawyer, law firm, for-profit or non-profit business to strategically plan, manage and grow their organization.
Our M.A.P. solution is NOT a matter or case management or time & billing solution. This is a solution on a significantly higher-level of strategic planning and implementation than any solution you may have. All your important business strategies and components of your organization will fall under the strategic planning umbrella of your M.A.P. solution. Your M.A.P. will be your strategic “Command-and-Control-Center” for all aspects of your organization. Everything within your organization becomes supportive or subordinate to the directives within your M.A.P. such as:
Personnel – Goals, Expectations and Performance
Management – Goals, Expectations and Performance
Product/Service Development – Goals, Expectations and Performance
Technology Infrastructure – Goals, Expectations and Performance
Sales & Marketing – Goals, Expectations and Performance
M&A/ Sales/ Acquisition Strategies – Goals, Expectations and Performance
And much, much more…
By strategically planning, each business unit within your organization, along with each strategic business decision that affects your organization will be represented in your M.A.P. This is how successful CEO’s/ Managing Partners/ and Business Owners can effectively manage their organization. This same M.A.P. solution is now available to you.
We hope this post is helpful to you. Our next post in February will be Part-2 – Tactical Management & Execution. Until then, we wish you good health and success. If you have any questions in the meantime, please Contact. Us.
GMS BUSINESS CONSULTING, INC. – Provides lawyers/law firms, for-profit & non-profit organizations, and other business professionals with Accounting Services, Business Development Services (M.A.P.), Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently. We do NOT provide investment advice. Contact Us if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business. We would welcome the opportunity to speak with you.
A perspective on Covid-19 statistics can help us better understand the data and the avalanche of data that hits the daily news headlines. According to Bloomberg News, “Global coronavirus infections climbed above 85 million (as of January 4th), and the daily cases in the U.S. soared to a record of nearly 300,000 following the New Year holiday.” So on the surface, this sounds like a lot of people being infected by Covid-19. It is a big number no doubt, but let’s put this and a few more data points in perspective globally and nationally:
A GLOBAL PERSPECTIVE:
GLOBAL INFECTIONS – As of today (January 4, 2021) – According to Johns Hopkins University , globally we have reached 85,497,369 people infected by Covid-19. If you divide that number by the total global population of 7,836,800,670 people (according to the World Population Clock), and you arrive at a 1.09% global infection rate (actual # is .0109).
Global Infection-Death Rate – Once again, according to Johns Hopkins University, the global deaths are currently at 1,849,054. So divide this number by 85,497,369 people infected by Covid-19, and you arrive at a global-infection death rate of 2.16 % (actual # is .0216).
Global Death Rate – If you divide the number of Covid-19 deaths globally (1,849,054) by the global population (7,836,800,670), this puts the current global-death rate at 0.02% (actual # is .0002).
A NATIONAL PERSPECTIVE:
NATIONAL INFECTIONS – As of today (January 4, 2021) – According to Johns Hopkins University, the United States has reached 20,739,217 Covid-19 infections. If you divide that number by the total U.S. population of 332,007,863 people (according to the World Population Clock), you arrive at a national-infection rate of 6.25% (actual # is .0625).
National Infection-Death Rate – Once again, according to Johns Hopkins University, the U.S. deaths are currently at 352,620. So divide this number by 20,739,217 U.S. infections, and you arrive at a U.S. infection-death rate of 1.70% (actual # is .0170).
National Death Rate – If you divide U.S Covid-19 deaths (352,620) by the U.S. population (332,007,863 people), this puts the current U.S. death rate at 0.1% (actual # is .0011).
STATISTICAL PERSPECTIVE:
Let’s shift gears now, and look at the flip-side of the deluge of data we’re presented with daily, and referenced above to get an alternate perspective on Covid-19 statistics. Contrary to how the media presents the daily Covid data, there is light at the end of the tunnel as we look at the statistics from the opposite or a macro perspective:
Globally: (look at the inverse of the above statistics) If 1.09% of the worlds population has been infected by Covid-19, that means that 98.91% of the global population has not been infected (yet). Also, if the global infection-death rate is 2.16%, that means that 97.84% of the global population infected by Covid-19, survive.
Nationally: (look at the inverse of the above statistics) If 6.25% of the U.S. population has been infected by Covid-19, then that means that 93.75% of the U.S. population has not been infected (yet). In addition, if the U.S. national infection-death rate is 1.70%, then that means that 98.30% of the U.S. population infected by Covid-19, survive.
CONCLUSION:
So now that we’ve provided a perspective on Covid-19 statistics, what does this all mean? What are the implications and lessons learned?
We understand that Covid-19 appears to be more deadly than the annual flu. Most of us of us have known people who have either been infected or know of someone who has passed away from this virus that normally wouldn’t from the annual flu. However, we also personally know individuals who had completely different Covid illness experiences than others. This is not an ordinary flu virus…it manifests itself differently than the ordinary flu in many ways…sometimes with deadly outcomes. Regardless, all loss of life from this virus had been a tragedy.
We also have learned that our healthcare workers (and we MUST NOT forget the store workers too…who get paid a lot less!) are true heroes! They and others are putting their lives on the line daily, all to help us! We just need more of these selfless people to meet the demands in situations like this. Which brings me to the next point…
We’ve also learned that our current health care system is insufficient to adequately handle pandemics. Lack of designated building space, under-supplied medical devices and equipment, and under-staffed medical personnel has resulted in overcrowded ER and ICU facilities. (We personally have family and friends who are physicians/ nurses/ health service providers etc…and we’ve heard their direct testimonies.) Our healthcare system is over-burdened, over-run and short-staffed, which we believe is also a national tragedy. (We’ll address these particular issues more, along with possible solutions in another post later this month).
As we apply discernment of Covid-19 statistics (from the above sections), it begs the questions:
Do the above statistics merit the shut-downs and closures of our local and global economies. Does it merit the loss of millions of small businesses and the rising unemployment (while the large corporations keep getting fatter and bigger)?
What will be the real financial implications, in terms of loss of economic productivity? PLUS, what will be the the future impact on our economies as a result of the voracious appetite of digital money being poured into the world economies? World debt and our national debt have never been higher, and this will eventually have an impact. The question is…to what extent and for how long?
Given the “warp-speed” vaccine roll-outs (which normally take years to complete), how effective will the vaccines be in 3, 6 or 12 months from now?
What are/will be the medical side effects?
Have we sacrificed good science for the sake of a rushed solution that may prove ineffective? If so, at what cost?
Who is gain the most? Hopefully humanity at large will gain the most. (We hope the people are the beneficiaries, particularly the elderly and those with co-morbidities).
Who else is to gain?
When it comes to vaccines, we tend to be a little jaded by the industry that produces these. Here are three links to interviews that may better articulate our skeptical position on today’s vaccines:
So many questions will be answered in time…but at what cost?
We hope this post on A Perspective on Covid-19 Statistics has brought some alternate ways of evaluating the data presented to us, and to help raise more questions to discuss, evaluate and consider. We look forward to following up on a few of these points previously made above in future posts. Until then, as we always say, “Do your own research, then make a better informed decision.”
GMS BUSINESS CONSULTING, INC. – Provides lawyers/law firms, for-profit & non-profit organizations, and other business professionals with Accounting Services, Business Development Services (M.A.P.), Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently. We do NOT provide investment advice. Contact Us if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business. We would welcome the opportunity to speak with you.
Blockchain or Hashgraph technology. We believe our readers want to better understand what technology will drive global ecommerce in the future from banking & financial to consumer product transactions.
To better understand this issue, it’s important to understand the two primary technologies available in the marketplace today, and to assess the differences in terms of capability, viability, practicality of application, speed of processing, and transactional costs. Based on our understanding, the two main competing technologies existing today for future consideration is either going to be Blockchain or Hashgraph technology. We thought now would be a good time to re-post one of our previous posts from February 2018 that addresses the differences between Blockchain vs. Hashgraph technologies. Understanding the differences between these two technologies will help our readers to better understand their viabilities in the future.
Once you finish listening to and reading the linked interviews and charts, you too will be better positioned to determine which technology will prevail globally, and which technology will more likely to be used in the future for cryptocurrencies as well.
We also believe this re-post of evaluating the future viability of Blockchain or Hashgraph technology is timely as well. We also want to draw your attention to the challenges and opportunities with both technologies (Blockchain or Hashgraph), and how they affect cryptocurrencies like Bitcoin. In light of the recent attention and steep run-up of Bitcoin ($18,000+), we do want to state that we certainly believe cryptocurrencies ARE the future monetary mechanism of conducting financial transactions and settlement on a global basis. The question is, will future cryptocurrencies be based on Blockchain or Hashgraph technology?
Based on the evidence we have seen so far, Bitcoin and the Blockchain technology it is based on, can NOT be viewed as a sustainable global digital currency. Please listen to the following links below, as they address the opportunities and challenges of these technologies; from the simplest in concept, to more complex discussions:
I encourage you to CAREFULLY listen to each interview link (above) from our original POST, and also look at the following two comparative charts on processing capabilities and costs:
COMPARATIVE CHART #2 – Here’s another comparison of Bitcoin vs. Hashgraph cryptocurrency performance.
CONCLUSION:
Based on these interviews, and the data we have reviewed and shared, we believe the evidence is quite clear. Hashgraph technology will lead the future in global transactional infrastructure. Why isn’t this being discussed in the mainstream media? We’re not sure…
The reason for our re-post and further discussion of Blockchain or Hashgraph technology has been influenced by recent news commentaries, public discussions and opinions, and lastly by the comments of close friends and relatives. Of particular interest to us is the fact these same relatives and friends who have little or no experience in business, finance, financial markets, and cryptocurrency technology are now experts in these areas. The fact that these same family and friends most interested in cryptocurrencies are the ones who don’t own any other investment assets (other than Bitcoin). This is a red herring to us, as they are now suddenly the experts, touting the merits and future potential of Bitcoin and Blockchain technology. We’re not saying you have to be a financial expert to properly identify and evaluate investment opportunities. Quite the contrary! What’s more important to us, is to be open-minded to conduct further research, ask more questions, evaluate alternative data and information, and then compare what you’ve obtained with the information that is currently popular on mainstream news and in discussion groups.
Our concern is, like with speculative stock trading on Wall Street Bitcoin and many cryptocurrencies may be experiencing a “pump-and-dump” or as it is known in the crypto world as “the rug pull”. This process may be applied with speculators or traders or speculators of many cryptos, including Bitcoin. These speculators use clever marketing strategies (including word of mouth and social media postings )to lure new customers to their products. Surprisingly, even more reputable companies like PayPal and Visa are now offering cryptocurrencies (like Bitcoin), as means of transaction processing and offer reward incentives to do so. My question is, do the CEO’s and CTO’s not understand the technology this is based on given its unsustainability, limitations, and high transactional costs? If not, why not? We thought this ARTICLE on cryptocurrencies posted today on Bloomberg (7-08-21) would be of interest too. Seems like others may finally be waking up to the fact that there really does need to be some form of regulatory oversight on cryptos, as they are intended to be a means of conducting reliable financial transactions, not for pure speculation. At least that’s our position.
All that said, getting back to the issue of Blockchain vs Hashgraph technology, our question is: If a better technology platform solution exists (like Hashgraph), and a cryptocurrency utilizes this superior technology, then why would you put your money into a cryptocurrency (like Bitcoin and others) that utilize an inferior technology platform like Blockchain? It just makes no logical sense to us other than perhaps this is purely a speculative trade or crypto bubble (speaking of Bitcoin and others alike). Many people may make a lot of money trading these cryptocurrencies, but unfortunately many people will also get burned in the long-run as well. Yes, money can be made in trading crypto’s, perhaps lots of money can be made by speculative trading by those experienced in day trading, but what about the average Joe? That’s why we’re posting this subject again…to offer another cautionary perspective to the public and to our readers. Just keep in mind… isn’t a key characteristic of a “credible/reliable” currency based on history of stability and not extreme high volatility?
I hope we’re wrong on this one… True, Bitcoin can go higher…perhaps much higher, but based on what? Speculation or sustainability? Only time will tell. Until then, we hope you find this information helpful in your evaluation of future global technology and cryptocurrencies, whether it be based on Blockchain or Hashgraph. Remember, do your own homework, then make a better informed decision.
GMS BUSINESS CONSULTING, INC. – Provides lawyers/law firms, for-profit & non-profit organizations, and business professionals with Accounting Services, Business Development Services (M.A.P.), Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently. We do NOT provide investment advice. Contact Us if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business. We would welcome the opportunity to speak with you.
Is COVID-19 A Pandemic or Plandemic? This is the question many are asking us. We are NOT medical experts nor do we hold ourselves out to be in any sense of the word. We are business advisors…period. We simply do our research, share it with our readers, and let them make their own decisions across all spectrums of business issues or any other topic we choose to discuss.
PLEASE NOTE: Last week’s POST related to the data presented by the CDC and others regarding the COVID-19 pandemic contagion and mortality rates. We then presented an apples-to-apples vs. apples-to-oranges data comparison of the COVID-19 data vs. annual flu. We presented the data with one caveat (as we tell our clients), you should follow the data if you can trust the source and integrity of the data. If you can trust the source and integrity of the data, then you should proceed forward and analyze the data in an intelligent and meaningful way.
So our answer to the question “Is COVID-19 a Pandemic or Plandemic” is, it depends. It depends on who you ask, where your research takes you, and the conviction of weighing the evidence of untainted data in making your conclusion. That said, we decided to go off-mainstream news sources to alternative media sources we found online to be informative and credible.
If you question or don’t trust the sources and integrity of the data presented by mainstream media sources, then you need to conduct further investigation. This week’s post is focused on providing alternative perspectives on what is currently being reported by the mainstream media, government sources and health industry spokespersons. Below we’ve provided a documentary and several interviews for our readers to explore in furthering their research from alternative media perspectives. We hope you will finds these links insightful when contemplating “Is COVID-19 a Pandemic or Plandemic.”
This link is an interview on YouTube Valuetainment w/former NCI and Ph.D virus researcher regarding viruses and her experience. (THIS LINK WAS REMOVED FROM YOUTUBE YESTERDAY)…We believe this is censorship…Bad decision YouTube. So click on the link below:
https://youtu.be/W7Lj1rNVHPM Hopefully YouTube will uphold our Constitutional Rights and freedom of speech by allowing this interview to be viewed publicly without censorship. ((THIS LINK TOO WAS REMOVED FROM YOUTUBE YESTERDAY.)
This is a direct link to an interview with Judy Mikovitz PhD called “Plandemicmovie.com“…This interview and movie link YouTube can NOT take down. I would encourage all of you to share these interview links with everyone you know so that individuals can listen to information that is outside the mainstream media, then be able to make a better and informed decision regarding COVID-19 and viruses etc.
This link is to Brian Rose’s website, www.Londonreal.tv This interview is with another U.S. doctor in New York (graduate of MIT and Duke University) regarding his knowledge of viruses and perspectives on Covid-19. (To gain access to the full interview, you may have to enter your email address, but no password is required.)
DON’T MISS THIS LAST LINK! This is a very interesting capstone interview on Valuetainment with Robert Kennedy Jr.
CONCLUSION:
We’re not here to tell you what to think or what to believe. We simply wanted to provide you with information for you to use in making sense of this crisis, and to provide some thought provoking perspectives. We hope the informational links provided will give you greater insight or perhaps a balanced insight so that you can better understand the issues surrounding COVID-19 and other related issues concerning viruses and pandemics. Perhaps now you can determine for yourself…Is COVID-19 a Pandemic or Plandemic, and the other issues that touch this crisis. You decide! We hope you find last week’s post and this week’s post informative and helpful or at the least…thought provoking. If there are broken links, please accept our apology. That said, broken links are becoming more common now, and it is most likely due to YouTube “cancelling” or taking down the videos because they violated their rules of content or conduct…however they spin it. What about the people’s right to freedom of speech under the First Amendment in this country? We don’t have to agree on everything someone says or stands for, but we should at least agree to disagree as well, right? Let individuals make up their own minds. The Government should not…NOR should Big Tech act as judge and jury when it comes to freedom of speech (in most cases). Leave that to the courts. Anyways, another topic for another day.
Again, listen to both sides of the issue, do your own research and due diligence, then make your own informed decision. Don’t let the mainstream media, government officials or big tech make your decisions for you. Until next time…
GMS BUSINESS CONSULTING, INC. – Provides lawyers/law firms, for-profit & non-profit organizations, and business professionals with Accounting Services, Business Development Services (M.A.P.), Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently. We do NOT provide investment advice. Contact Us if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business. We would welcome the opportunity to speak with you.
Today’s post is to address the perceptions vs. facts on Covid-19 and the degree as to how serious it is…or isn’t. Caveat: We are assuming that we can trust the sources and the integrity of the data presented by the CDC and Johns Hopkins and other respected organizations. At this time, we’re not going to address the economic impact of Covid-19, as we’ll save that for another post.
So let’s address the perceptions vs. facts on Covid-19 as it relates to the severity of its contagion and mortality rates. Then we’ll be in a better position to better ascertain whether or not government and health officials are over-dramatizing it’s health implications. Let’s begin…
There are many people questioning or doubting the severity of Covid-19 as presented by government and health officials. Are they over-blowing and dramatizing its contagious and destructive power? Most of the critiques we hear from the media, politicians and protesters regarding the lock-downs and social distancing policies, (people who maybe well-intentioned or not), usually fall short in applying comparative analysis of data and statistics available. That is, they are not comparing apples-with-apples when it comes to comparing Covid-19 data vs. the death rates of other diseases as they formulate their opinions. So, do we simply take their word for it and believe what they say? Certainly not! As we always encourage our client’s and reader’s of this blog…do your own research. Get properly informed! Then we can better understand the situation and make better decisions. So let’s get on with our discussion on the perceptions vs. facts on Covid-19.
I. Discerning Fact vs. Fiction:
At GMS Business Consulting, we have one simple rule to follow as a guiding principle in business; filter out all the “noise” by looking at the data, then compare apples-with-apples, and not apples-with-oranges. Here’s what we mean:
Many people are downplaying or misunderstanding the data and the significance of Covid-19, and believe we should just “get back to work.” “Just use a little hand sanitizer and sport a mask and all is well!” Let the “healthy” people go back to work!” We would agree for healthy people to be allowed to go back to work. We are all for it…if we can be assured that each state has the appropriate testing, medical equipment, medical staffing and policies in place. Currently, we don’t have those in place. Usually these same arguments for getting back to work before the fore-mentioned policies are in place, are followed-up by using comparative mortality rates of various illnesses to substantiate their views. What’s needed, is a clear foundational perspective on what to base a comparative analysis on when using data and statistical information.
II. Annual Deaths in the U.S.
Number of deaths: 2,813,503
Death rate: 863.8 deaths per 100,000 population
Life expectancy: 78.6 years
Infant Mortality rate: 5.79 deaths per 1,000 live births
“A 2018 CDC study published in Clinical Infectious Diseasesexternal icon looked at the percentage of the U.S. population who were sickened by flu using two different methods and compared the findings. Both methods had similar findings, which suggested that on average, about 8% of the U.S. population gets sick from flu each season, with a range of between 3% and 11%, depending on the season.”
Did you catch that? In any given year, approximately 8% of the U.S. population (8% of approx. 330,000,000 million people in the U.S.) equates to approximately 26,400,000 people become infected with the flu annually. Again, it’s about Perceptions vs. Facts on Covid-19.
The CDC estimates that influenza has resulted in between 9 million – 45 million illnesses, between 140,000 – 810,000 hospitalizations and between 12,000 – 61,000 deaths annually since 2010. This equates to an estimated mortality rate of approximately .10%
Remember the above mortality rate and what it’s telling us in terms of the annual deaths from the flu in the U.S. versus Covid-19. Now lets take a look at Covid-19…
V. COVID-19 Cases and Mortality by Country AS OF 4-23-20.
You may be able to spread flu to someone else before you know you are sick, as well as while you are sick.
People with flu are most contagious in the first 3-4 days after their illness begins.
Some otherwise healthy adults may be able to infect others beginning 1 day before symptoms develop and up to 5 to 7 days after becoming sick.
Remember the “average” annual contagion rate for the annual flu here in the U.S. is 8%, and a mortality rate of .10%.
Covid-19 – Period of Contagiousness:
According to the CDC, the contagion infection of Covid-19 can be asymptomatic with no signs of infection or flu-like symptoms for as long as 2 weeks! This means the virus can spread exponentially faster than the regular flu because seemingly healthy people are able to spread the virus with anyone they come in contact with or touch any surface in their daily life for 2 WEEKS (and perhaps longer) without ever realizing they’re infected. Based on the data provided, the Covid-19 contagion and mortality rates are VASTLY different to the annual flu!
As you see from the above chart, the current mortality rate here in the U.S. for Covid-19 is 5.5% vs. .10% for the annual flu! The differences in the infection rate and mortality rate of the annual flu vs. Covid-19 is very compelling.
So let’s calculate a hypothetical “apples-to-apples- comparison of Covid-19 “assuming” an identical infection rate as the annual flu in the U.S. (Keeping in mind that Covid-19 is actually far more contagious than the annual flu, but for hypothetical purposes, we’ll apply the same infection rate):
Using an infection rate of 8% on the U.S. population of 330,000,000 people:
Annual Flu – Death Rate using .10% = 26,400 deaths.
Covid-19 – Infections = 26,400,000. (using same infection rate as the flu.)
Covid-19 – Death Rate using 5.5% = 1,452,000 deaths.
That’s an additional 1,425,000 potential deaths for the same amount of infections! And we know Covid-19 is far more infectious than the annual flu due to the asymptomatic incubation time that could be as much as two weeks or longer BEFORE any symptoms become present! In other words, this makes Covid-19 55 times more lethal than the annual flu, and we haven’t even touched on the point of demographics of those who have been hit hardest by this virus.
Can you see why it’s important to compare apples-to-apples and not apples-to-oranges? This foundational comparison can help us better distinguish the perceptions vs. facts on Covid-19.
VI. Conclusion:
Again, assuming we can trust the sources and integrity of the data compiled by the various European countries, New York, the CDC, Johns Hopkins University and the like, it appears that Covid-19 is not like the annual flu…it’s much, much worse. Like many of you, we have family and friends who are medical professionals working in the hospitals and health centers. They can tell you their stories and experiences with Covid-19, and where the short comings of our healthcare system are. Our current medical system cannot handle much more than what they have recently faced. Consider us blessed and very fortunate! (Consider the bar chart above in comparison to other countries.) So what have we learned so far?
Social distancing and stay-in lock-downs, face masks, and sanitizing may be an inconvenience, but it has worked so far! Compare the difference it has made versus what the European countries have endured! New York has similar results of Europe, as they only had a 1 week lag time over Italy.
The main differences between the U.S. infection and mortality rates vs. the Europeans and New York, is that we had 2-3 more weeks lead-time (except New York) to prepare and put social distancing and stay-in policies in place.
European countries and New York also utilize mass transit far more extensively than the rest of the U.S. Had the rest of the U.S. utilized mass transit and not had an extra few weeks lead time to prepare…our current results would more closely reflect European countries. (Look at the chart above)
So what’s the answer? Do we continue leaving the restrictive policies in place a little while longer? Or do we prematurely open the country for business and risking a contagion and death rate that gets out of control. At what cost? Economics or lives? Who or what is your moral compass for making decisions like this? We would sure like to know the President’s and Governor’s. Fortunately, we don’t have to make that decision.
Our point is, can we be a little more patient and let each state reopen for business if each state’s Governor can verifyably demonstrate the following:
That their state has an effective Covid-19 policy in place.
That their state has appropriate testing standards and equipment in place.
That their state has the appropriate medical staffing and resources in place.
If the Governor of each state can attest to their constituency, then they should be allowed to reopen for business.
The economic effects that Covid-19 has been devastating not only in terms of magnitude, but in terms of the historical rate of speed which this has happened. Unfortunately, we have NOT begun to see the full repercussions.
Nor have we seen the economic impact of all the digital stimulus money being printed, and what it will bring to bear in the future months and years to come.
But we hope we have been able to at least present informative information to address the perceptions vs. facts on Covid-19 and the seriousness of this virus based on the statistical data provided.
Unquestionably, we are living in unprecedented times, but if you’re a Christian, you should not be surprised by all this. The Bible warns us of times like these to come before the second coming of Jesus Christ. For those of you who are not Christians nor have ever read/studied the Bible, perhaps now is as good a time as any to do so.
So what can we do? Can anything good come out of this? We’ll talk about that next week in our next post. Until then, we can all do the following:
We can be patient with the social distancing policies.
Help others who are in more need than we are.
Do your own research,
Make sure when using data/statistics to compare apples-to-apples…
Pray and read your Bible. You will be enlightened with His promises and comforted with His peace.
Until next week, be patient, stay safe and healthy.
GMS BUSINESS CONSULTING, INC. – provides lawyers/law firms, for-profit & non-profit organizations, and business professionals with Accounting Services, Business Development Services, Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently. We do NOT provide investment advice. Contact Us if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business. We would welcome the opportunity to speak with you.
Conducting business during the CV pandemic (COVID-19) will not be business as usual (obviously), but it is not only possible it’s doable! However given the right planning, preparation utilizing technology, and with measured and thoughtful precautions in place, business can proceed forward (and it must!). Most of what we’re presenting below is very basic, yet sometimes we need to revisit some of those basic principles before strategically planning ahead. Many, many business we initially interacted with were not as “up to date” on virtual working conditions nor did they have the appropriate plans in place to work through business interruptions like this current situation. Please understand, we’re not holding ourselves as experts in the coronavirus, however we do have experience and expertise in business operations, planning and optimization. Conducting business during the CV pandemic is possible! Let’s take a brief look at a few basic business interruption recommendations and precautions that might be helpful to you or someone else you may know who needs some guidance:
BUSINESS OPERATIONS:
Business Interruption Plan – The first point of defense and offence is having a Business Interruption Plan (BIP). If you haven’t established and implemented a BIP by now…do so now (we can help you with this). This plan will not only be helpful now, but it will serve you well with ANY business interruption that may come along in the future including: natural disasters/ physical office location interruptions etc. (We include a Business Interruption Plan in our M.A.P. solution). BIP become the command and control center for managing and operating your business during a business interruption. If you don’t have a BIP in place, hopefully the following recommendations will provide some initial guidance and food for thought.
Work Remotely – Minimize the staff necessary to be on your site location. For most service providers, online access to office/client work-product should have already been established through online/cloud access to all apps/data/communication. If that has been implemented, then those not required to be “on-site” should work remotely. For those who must remain on-site (for production purposes and tech. support), make sure to implement protective measures to keep others as safe as possible from infection.
Daily Debriefs – Morning and evening business debriefs hosted by management should focus on essential business operations such as: client service & communication/ supply-chain/service providers/ contracted services status etc. Also, make sure the business leader (President/CEO/Managing Partner etc.) personally hosts a daily debrief with all staff. Staff needs to see/hear status and direction from the person in charge. This can be easily accomplished via ZOOM or other online meeting software etc.
Client Communication – All staff involved in client interaction and work-product responsibilities should coordinate, prioritize and communicate with each designated client. The objective should be to keep clients informed on the status of work production that directly affects them. Clients NEED to hear from their service providers (just as we would like to hear from our contracted service providers) in situations like this. However this should be conducted on a more regular basis than is normally customary! Just a simple text/ email/ video-call/ direct phone call letting clients know you’re thinking of them, and providing them with updates regarding their work-product is very meaningful to them. DO NOT underestimate this! Over the years this has been the #1 complaint of clients with their prior service providers. This simple task can be easily accomplished via the technology tools we have at our fingertips today.
Supply Chain & Service ProviderCommunication – Management should already have business interruption measures in place (via the Business Interruption Plan), but in case they don’t, calls must take place so that your organization’s staff can be prepared to work with any disruptions that may impact their client’s work product. Once the status and expectations with suppliers/service providers is understood, then any material information that could affect client work-product, should be communicated to the responsible staff and then directly to clients.
Strategic Planning – Use business interruption situations to better understand and address your organizational weaknesses. Then you can effectively begin to strategically plan your next objectives. Host online meetings with management AND staff to brainstorm and strategize how to best resolve current business challenges internally, and how you can help clients do the same. This is a golden opportunity to add value to existing clients and new clients. Become a valued resource to help clients resolve their problems during a business interruption. Not that you need to have all the answers, but that you become a valued “resource” to help them resolve their challenges. You can do this either by providing the solution or by introducing them to other sources that can help resolve their specific challenges or opportunities. Provide value to your clients by becoming a thought leader…a problem solver other than the work you normally provide. Again, conducting business during the CV pandemic is not only possible it is doable!
PRECAUTIONS:
Pre-Screening – Those employees only deemed “necessary” to work on-site during this particular crisis, should be monitored daily for any possible infection as best as possible. If any of the aforementioned on-site staff are not feeling well or have been exposed to others who are ill, they should be required to work remotely…no exceptions.
Office Location Precautions – Implement the basics…mandatory use of hand sanitizers (when available), mandatory frequent hand washing, mandatory use of disposable gloves etc. Again, only those employees deemed critical to business operational support should be working on-site.
Employee Support & Incentives – Consider offering “Additional Paid-Sick-Time-Off” for ALL your employees. If they’re ill or get ill, then they’ll be covered by YOU…their employer! For those fortunate enough to not get ill from COVID-19, then let this “additional” paid sick-time-off be added to their vacation time. Either way, now would be the time to step-up to the plate and let your employees know you care about them and their livelihood. The additional benefit will come back to you in the form of employee retention.
We hope these basics will be of help to you or someone you know and that you can be reassured that conducting business during the CV pandemic is doable! If you would like to discuss your particular situation further please feel free to Contact Us. Be well, stay safe, and may the Lord protect us.
GMS BUSINESS CONSULTING, INC. – provides lawyers/law firms, for-profit & non-profit organizations, and business professionals with Accounting Services, Business Development Services, Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently. We do NOT provide investment advice. Contact Us if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business. We would welcome the opportunity to speak with you.
