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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.
"Less than 30 percent of businesses last more than 10 years due to poor business practices."
Fortunately, business owners now have a clear road-map to maximize their
chances for success. Author, Bill McBean has written the definitive
book on running a successful and long lasting business.
As a successful business owner, having ran high performing businesses
for over 40 years, McBean quickly earns credibility with his readers.
Throughout the book the author provides an easy to follow list of seven
important leadership facts that all successful business owners must
The author has devoted an entire chapter to each of the seven business facts, which focus on:
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 identifies the set of skills you must develop and continuously improve upon as your company grows.
Suggested leadership and business skills to master include:
In other words, McBean emphasizes that leadership is something that must be recognized, developed and exhibited every single day.
Change is constant, a leadership fact of life. The author spends significant time on the concept of
developing and maintaining a healthy, competitive and highly productive culture that embraces change within
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.
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.
"Entrepreneurship and failure go hand in hand, but entrepreneurs understand that failure is never final."
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 principles when preparing to step back from running the daily operations of the company.
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.