Emmanuel Smart, a certified management consultant and accomplished entrepreneur, has written a new book titled “PROFITABLE: A Practical Guide to Creating a Profitable Business.” The book is inspired by Smart’s own experience as an entrepreneur and the experience of his clients.
It’s worth noting that about 18.4% of new businesses in the US fail in their first year, and by the fifth year, the percentage increases to 49.7%. Only 34.5% of small companies survive for at least ten years. The oil and gas industry has the highest failure rate in the first year (25.6%), followed by administrative and waste services (20.9%), information (20.8%), and entertainment (18.9%). Smart notes that the idea that if you keep running a business, you will get lucky, someday, somehow, and the business will become consistently profitable is untrue. While some people may have gotten lucky, most business owners won’t experience this kind of luck.
After listening to Patrick Sowers, a US veteran and president/founder of Once In A Lifetime, at a Rotary Fellowship in Plano, Smart was inspired by Sowers’ story and the stories of other US veterans as told by Sowers and Sowers’ over 16 years of work with Once In A Lifetime and Support The Troop Resale Centers inspired Smart to meet with his team and convince them to support US veterans with his new book. Smart noted that one of the major problems entrepreneurs face is low or zero profitability. According to a survey, 10.7% of new business owners in 2021 were veterans. This is a 100% increase from the public census data, which shows veterans made up only 5.4% of entrepreneurs in 2019. Other outlets report that veterans own almost two million businesses and employ over five million Americans.
US veterans are women and men who gave their all to the service of their country. They strapped on their boots and said goodbye to loved ones to serve their country and fight for liberty. From the selfless patriots who fought in the American Revolution to the Civil War soldiers who fought for the liberty of every man to those who served in WWI, WWII, Korea, Vietnam, Desert Storm, Iraq, Afghanistan, and other conflicts, as well as peacetime, these are the men and women who fight for the liberty that America represents. Smart noted that US veteran business owners are truly inspiring people whose lives and work deserve to be rewarded and celebrated.
Smart’s book provides guidance on how to create a profitable business, including topics such as market research, pricing, and financial planning. Smart is particularly passionate about helping veteran-owned businesses. He notes that veterans are often well-trained and disciplined and that they have a strong work ethic. However, he also recognizes that veterans face unique challenges when starting or running a business.
This is not Smart’s first philanthropic project. In 2021, he launched “Letters to My Daughter: A Father’s View on Gender Equality.” He wrote this book to address the problems women face in Africa and injustice. Smart’s book, “Letters to My Daughter (A Father’s View on Gender Equality)” is Africa’s first book on gender equality written by a man. Smart aims to distribute audio and written versions of the book to Africa’s population of 1.2 billion free of charge within the next ten years. This is part of Smart’s commitment to promote gender equality across the globe, including African communities in the diaspora.
To address these challenges, Smart has partnered with Stralution LLC, a company that provides business consulting and coaching services to business owners. Stralution will be offering a free download of “PROFITABLE” to all US veteran business owners and aspiring business owners. To request a copy of the book, veterans can send a direct message to Stralution on Instagram with the words “Veteran in Business.” They will then be asked to provide pictorial proof of their service to the US. The download link is exclusive to US veterans only.
Smart believes that “PROFITABLE” can be a valuable resource for veteran-owned businesses. He hopes that the book will help these businesses succeed and create jobs in their communities.
