Having leadership facts that are proven and time tested are essential to your success as a business owner. We've all heard the phrase "It's time you've learned the true facts of life". Well, there are also important facts that every aspiring business owner must learn and master if he or she is to realize their maximum potential.
Sadly, doing business successfully in some respects has become even more difficult. Consider the various economic pressures, increasing government regulations and narrowing margins due to foreign competition. Business owners today need to be smarter and more creative than ever before in order to win the marketplace.
Fortunately, business owners now have a clear map to maximize their chances for succcess. Author, Bill McBean has written the definitive book on running a successful and long lasting business. In his book, The Facts of Business Life: What Every Successful Business Owner Knows that You Dont, McBean provides leadership facts and strategies to help new and existing business owners overcome the many challenges of owning a business.
"Less than 30 percent of businesses last more than 10 years due to poor business practices."
As a successful business owner, having ran high performing businesses for over 40 years, McBean quickly earns credibility with his readers. Throughout the book, McBean provides an easy to follow list of seven important leadership facts that all successful business owners must know.
The author has devoted an entire chapter to each of the seven business facts, which include:
Each of the above leadership facts are explained in detail. McBean covers why each area is so important and how it can help entrepreneurs to achieve improved results and avoid costly mistakes.
For example, when explaining the business fact of life, "If you don't lead, no one will follow", he explains that good business leadership begins by clearly defining both the direction and destination of your business. But he doesn't stop there. McBean explains in great detail the set of skills you must develop and continuously improve upon as your company grows.
Suggested leadership and business skills to master include being calm under pressure; disciplined in your approach; motivating to your team; realistic in all things; and becoming a highly effective communicator. In other words, McBean emphasizes that leadership is something that must be recognized, developed and exhibited every single day.
Another set of leadership facts are presented around the concept of developing a healthy, competitive and highly productive culture within the workplace. When a business owner or team leader has developed a culture that empowers the employees to make important decisions, and also recognizes and rewards employees for achieving outstanding results, the overall team and company will reap rewards for years to come.
"Entrepreneurship and failure go hand in hand, but entrepreneurs understand that failure is never final."
Too many people fear that leadership is something that a person is born with. This may be true for some small aspects of leadership, but overall you can develop the essentials leadership skills needed to create and operate a thriving business.
McBean is not only a highly successful business owner, he is also a realist. In addition to providing the seven business leadership facts, he also breaks down the Five Levels of Business Success. The fifth level is titled, "Moving On When It's Time To Go". This is a very important concept, and one more reason that this book is such a valuable tool.
Business owners that are highly successful are always looking down the road, around the bend and beyond the horizon. They know the winds of change are ongoing and never-ending. They do not fear change, they plan for it.
When change turns out to be a deal breaker for the business, it's important that the business owner be the first to recognize this in order to protect assets and capital for the long term.
Sometimes it's not the business that you need to exit, sometimes it's YOU that will be exiting the business. Perhaps you're nearing retirement or just want to spend more of your time on other interests outside the business.
Leaders can quickly become emotional at the thought of exiting a successful business that they've spent decades building - this is totally understandable. Therefore, it is important to follow proven business and leadership facts when preparing to step back from running the daily operations of the company.
The Facts of Business Life is packed full of important leadership and business information. Every business owner will benefit from learning and applying the McBean's seven leadership facts and lessons provided in this well written book.
I was impressed, and I think you will be too!
Bill McBean, author of The Facts Of Business Life: What Every Successful Business Owner Knows That You Don't, spent most of his 40 years in business as a successful business owner working in the automobile industry. His enterprise eventually grew annual sales to more than $160 million. Since selling the company to the world's largest automotive retailer, AutoNation, McBean has been busy creating several new businesses in the areas of investments, education and administrative services. McBean and his wife, reside in both Texas and Florida.
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"The force that is going to carry you to your goal is coiled up inside of you, in your energy, your pluck, your grit, your originality, your character, and your possession of a strong, persistent and tenacious purpose."- O.S. Marden