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Hendrith Vanlon Smith Jr Quotes

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Famous Hendrith Vanlon Smith Jr Quotes

“There is great wisdom in a business having a system in place for adapting its underlying assumptions and pivoting so that it can continue to survive and thrive in the new reality by reclaiming relevance and providing value to newly defined markets.”

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Book:Business Paradigm Shifting: A Quick 6-Step Guide to Remaining Relevant as Markets Change
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“Margins matter in business. If a business has $1,000,000 dollars in revenues but $1.5 million in expenses, the business is heading for self destruction due to a liquidity problem. Meanwhile, if another business only has $100,000 in revenues and $50,000 in expenses, it’s doing better than the first business even though it has less revenues. And a business with $60,000 in revenues but only $2,000 in expenses technically has a greater margin than both of the other businesses. Revenues are very important, but the key is to both maximize revenues and minimize expenses so that you have the widest profit margin possible.”

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Author:Hendrith Vanlon Smith Jr
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“With managing a business, you need to Invest in good software and or good data mining systems. Run your numbers routinely. Take a look at your revenues - when is the money typically coming in, from where, can you identify any patterns in your revenues? Then take a look at your expenses - analyze the numbers and identify patterns. Why? Because Identifying patterns and extracting actionable items from your revenue and expense data will result in the clarity you need to make good business decisions.”

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Book:The Wealth Reference Guide: An American Classic
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