In his book Islands of Profit in a Sea of Red Ink, MIT Senior Lecturer Jonathan Byrnes says that most of a distributor’s customers are unprofitable while a few are so profitable that they more than subsidize those losses. In the recent MDM Webcast, How to Secure and Grow Your Islands of Profit Customers, Byrnes shares new tips for identifying and growing business with your most profitable customers and replicating that success with new customers.
This article includes:
- A look at how profitability has changed in distribution
- What is negatively impacting profitability in today's market
- How to identify & overcome the challenges to profitability
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- Don't Be Everything to Everyone
- 5 Building Blocks for Managing Profit
- Four Barriers to Distributor Profitability
