Islands of Profit in a Sea of Red Ink
Author Jonathan Byrnes makes the case that significant portions of most businesses are unprofitable, which too often goes unnoticed by management. Byrnes provides a systematic method to first identify the unprofitable products/service within a company, and then describes how to fix the undesirable situation.
Byrnes follows his own teaching advice by first identifying the main underlying concepts and then using the course materials – the examples and chapter summaries - to amplify and illustrate the concepts. It contains very comprehensive, practical instruction for how to improve your business. Although most examples favor manufacturing businesses, the instructions translate to service-based businesses as well.
This is important stuff. There is tremendous opportunity for companies to improve without the need to embark on a multi-year, costly initiative. Byrnes offers up a darn good recipe.
Should you decide to read it, you’ll want to share it with others. Hopefully you will also get busy following the advice.