Senior Lecturer at MIT, President of Jonathan Byrnes & Co., and author of the visionary and revolutionary book Islands of Profit in a Sea of Red Ink: Why 40 Percent of Your Business Is Unprofitable and How to Fix It, Jonathan L. S. Byrnes describes how even with everyone in the company meeting their sales targets, it is still possible to lose money. 40% of the operations of companies are unprofitable by any measure and only 20% are making money. Instead of thinking about profits, too many companies are fixated on revenue and costs. Jonathan Byrnes recommends thinking about profits in this Age of Precision Markets. What worked in the previous Age of Mass Markets is not effective today. Jonathan Byrnes shares his ideas for transforming a company into a profitable one. Every company has the potential to increase profitability when some old myths are forgotten and thinking of profits becomes the corporate culture.
Jonathan L. S. Byrnes is my internet radio show guest on Blog Business Success; hosted live on BlogTalkRadio.
The show airs live on Thursday, November 11, at 8:00 pm Eastern Time; 5:00 pm Pacific Time.
Senior Lecturer at MIT, President of Jonathan Byrnes & Co., and author of the visionary and revolutionary book Islands of Profit in a Sea of Red Ink: Why 40 Percent of Your Business Is Unprofitable and How to Fix It, Jonathan L. S. Byrnes describes how even with everyone in the company meeting their sales targets, it is still possible to lose money. You will learn:
* Why when revenues are strong losses still occur in most of the company
* Why focusing on cost control is not sufficient to boost profits
* Why all customers should receive different levels of service
* Why simply doing one's job well is not enough to ensure profitability
Jonathan L. S. Byrnes (photo left) is Senior Lecturer at MIT, where he has taught at the graduate level and in executive programs for nearly twenty years. He is an acknowledged authority on profitability management. The courses he has taught cover all strategic and operational aspects of customer-supplier relationships.
He has authored over one hundred books, articles, cases, notes, and expert submissions. He wrote a monthly column on managing profitability, called “The Bottom Line,” in Harvard Business School’s Working Knowledge e-newsletter (hbswk.hbs.edu) for four years. Dr. Byrnes has supervised thesis work in ABB, C&S Wholesale Grocers, Cardinal Healthcare, Cisco, Dell, Flextronics, Honeywell, iRobot, Lahey Clinic, Nebraska Medical Center, Northrop Grumman, Philips, Procter & Gamble, Raytheon, SanDisk, and United Technologies.
Dr. Byrnes earned a DBA from Harvard University in 1980. He served as President of the Harvard Alumni Association, and for five years on the Board of Directors of the Harvard Business School Alumni Association. He also served for two years on Harvard’s Committee on Shareholder Responsibility.
He is President of Jonathan Byrnes & Co., a focused consulting company that he founded in 1976. He has advised over fifty major companies, medical institutions, and industry associations.
Dr. Byrnes serves on the Board of Directors of MSC Industrial Direct, Inc. (a New York Stock Exchange company). He has served on the Advisory Boards of Objectiva Software and Autopart International, two companies that were acquired at a substantial gain, and he currently serves on the Advisory Boards of RMG Networks, OCO, and WaveMark, all development-stage companies.
My book review of Islands of Profit in a Sea of Red Ink: Why 40 Percent of Your Business Is Unprofitable and How to Fix It by Jonathan L. S. Byrnes.
My blog Q and A interview with Jonathan L. S. Byrnes on Islands of Profit in a Sea of Red Ink.
Listen live on Thursday at 8:00 pm Eastern, 5:00 pm Pacific time.
If you miss this very informative show, it will be available for free download as a podcast for iPod, iTunes, and MP3 players; or play it right on your computer. To download this, or any other of my guest interviews, go to the Blog Business Success host page and click on Archived Segments. Once there, click on the podcast icon at the end of the episode description, to download the show free of charge for your listening enjoyment. You can also subscribe to the show feed.
To call in questions for my guest, the number is: (347) 996-5832
Let's talk with Senior Lecturer at MIT, President of Jonathan Byrnes & Co., and author of the visionary and revolutionary book Islands of Profit in a Sea of Red Ink: Why 40 Percent of Your Business Is Unprofitable and How to Fix It, Jonathan L. S. Byrnes as he describes how even with everyone in the company meeting their sales targets, it is still possible to lose money. 40% of the operations of companies are unprofitable by any measure and only 20% are making money. Instead of thinking about profits, too many companies are fixated on revenue and costs. Jonathan Byrnes recommends thinking about profits in this Age of Precision Markets. What worked in the previous Age of Mass Markets is not effective today. Jonathan Byrnes shares his ideas for transforming a company into a profitable one. Every company has the potential to increase profitability when some old myths are forgotten and thinking of profits becomes the corporate culture on Blog Business Success Radio.
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