Allow Me to Introduce Business Expert
Dennis Hill, Ph.D.
When a globally recognized expert, Dennis Hill, Ph.D. begins his message with “Knowledge is not data”, we pay attention. This short article offers you an opportunity for a fresh perspective to learn more about productivity and learn from Dennis Hill, Ph.D., as he invites us to review our technology systems or tech stacks to improve our productivity. For decades Dennis has championed utilizing technology to best improve business and human performance. He just penned a very eye-opening chapter in our newest volume about how to Integrate for Well-Managed, Integrated Growth. I assure you, it will significantly improve YOUR Business’s Performance.
Today’s blogging guest is 2x #1 Bestselling Business Author and 2x #1 International Bestselling Business Author Dennis Hill, Ph.D., who penned a chapter in Volume 4 and Volume 5 of the Brilliant Breakthroughs for the Small Business Owner book series. The book series was created by Small Business Thought Leader, Maggie Mongan, who vetted experts in business to join the Brilliant Practicing ExpertsTM Authoring Team.
The series is written specifically for Small Business Owners, by Small Business Owners, to help you learn how to win BIG at small business in the 21st century!
To give you a glimpse of several different chapters, I invited our co-authors to write a short guest blog to learn about why their chapter topic is important to YOUR Business Success.
Business Technology Expert,
Dennis Hill, Ph. D.
In Brilliant Breakthroughs for the Small Business Owner: Fresh Perspectives on Profitability, People, Productivity, and Finding Peace in Your Business – Vol 5, Business Author Dennis, Hill, Ph.D. shares how most businesses still aren’t approaching their profitability in a practical manner to support success and sustainability through intentional growth.
The following is what Dennis Hill, Ph.D. wants to share with you:
Mind Your Business, Mine Your Profits
This year, it has been my privilege to be contributing as author and editor to “Brilliant Breakthroughs for the Small Business Owner – Volume 5”. My chapter, entitled Integrate for Well-managed, Intentional Profits, appears first and extends my discussion from last year in Volume 4, Integrate for Well-managed, Intentional Productivity. Every chapter in this series of #1 Bestselling Business Books intends to increase the rate of successes among small businesses, among which 65% will fail in their first decade. For this reason, more than any other, every small business owner (SBO) should own a copy of each volume and read them with passion as if lives hung in the balance because they do.
The global pandemic shook the foundations of every human life on the planet and every institution they depended on, from government and education to healthcare and commerce. The world stopped operating. Aftershocks will continue for years, leading to the demise of many businesses even as hundreds of thousands continue to struggle as we approach two years of anything but ordinary.
Nonetheless, change was thrust upon us all. Forged like raw iron hammered on an immovable anvil, SBOs divided their staff into essential and non-essential classes. They evaluated inventories, modified operating hours, and implemented entirely new business models with the desperate hunger to survive. The list of closed businesses stands as stark testimony to the varied skills possessed by SBOs around the country and their ability to navigate change successfully.
The vast majority of SBOs rarely look at financial statements, despite that they have long provided a truthful record of historic success and temporary failure. Even fewer owners rely on these statements as prophetic truth sayers of future success or failure. Most SBOs fail to take advantage of proven methods of sustainable success. Instead, they operate without budgets, accept gaps in business processes, and rarely adopt continuous improvement strategies that yield lower operating costs, increased sales, and fatter profit margins.
According to SmallBizGenius.net, reporting from various objective sources, 84% of SBOs are optimistic about their business’ future, while 82% of small businesses fail because of cash flow problems. Bridging that disconnect by providing SBOs with practical guidelines to integrate their businesses is the purpose of my chapters. SBOs can develop a holistic point of view that will increase the likelihood of success. More than 80% of SBOs work more than 60 hours per week, work weekends and holidays, or both. 50% operate from home. 65% start with less than $10,000 in working capital, and only 40% are profitable. Do you fit into any or all of these statistics?
Be encouraged, for you are not alone. All of the authors of “Brilliant Breakthroughs…” are small business owners. Together, you and we employ 59 million people, or 48% of the entire country’s workforce. Together, you and we account for 99.7% of all businesses in the U.S.A. Together, you and we can rapidly acquire and develop new knowledge to improve the success rates among small businesses with the agility and resilience that large companies envy.
My chapter explains the integrating principle that improves business profitability, applied to financial reporting and analysis, not to record history simply but to predict future outcomes reliably. With the remaining contributions of our authors in “Brilliant Breakthroughs…” you will tap into a treasure-trove of gold from a never-ending vein already explored by experienced miners. With a modest investment of time, you can pan for nuggets among these pages, but with a passionate devotion that led you to start your business in the first place, bring a wheelbarrow.
Thank you ~ Dennis
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Blessings of Success to YOU ~
Maggie Mongan, CEO
Small Business Thought Leader
Brilliant Breakthroughs, Inc.
Direct Dial: 262-716-7750
p.s.: One of your key components as a Small Business Owner is your relationship with money so you can optimize your profitability. Taking time to improve your relationship with money will literally pay-off!
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