Welcome to this issue of the Quietly Good Newsletter, the Revenue Protection issue.
Revenue Protection is an active pursuit.
It’s about ensuring that hard-earned money doesn’t seep away from a business.
Simply put, it’s about retaining higher profits from every pound of revenue the business earns and for you personally, the part of the enterprise you control.
Most managerial roles involve increasing sales, generating enquiries, or boosting production.
Success is evident when these metrics rise (usually leading to greater revenue). However, what a company retains from sales depends not only on income but also on effective management of production, marketing, and overhead costs.
An unexpected expert in this field was Sister Irene Kraus of the Daughters of Charity of St Vincent de Paul.
She was the founding chief executive of the $3 billion Daughters of Charity National Health System in the United States.
Under her hard-nosed business direction, thirty-six hospitals provided medical care to impoverished people in seventeen states.
She became known in business schools for her mantra,“No margin, no mission.”
She knew that without margins and profits, the mission of her Order would fail.
Vast sums of money were needed to run those hospitals, and it wasn’t going to come out of thin air.*
Let’s follow her lead.
On the next page is a brief summary of what we’re going to cover.
- Sister Irene also headed nineteen other related institutions and, during her career, served on seventy national boards and committees.