Leadership Facts For Improved Business Results
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
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.
In this 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.
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
Seven Leadership Facts Business Owners Must Know
The author has devoted an entire chapter to each of the seven business facts, which focus on:
- Without a leader, followers are lost
- You can't claim it, until you name it
- First order of business is to secure assets and resources
- Anticipate and plan for the worst, to ensure the best long term outcome
- Marketing is key to securing the success of any organization
- Competition is touch, so prepare for a battle
- You must be an industry expert, as well as an expert business owner
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.
"The source of power that will propel you toward success is already within you. Your life purpose is the fuel you need to overcome all of life's challenges."
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:
- Being calm
- Disciplined in your approach
- Motivating to your team
- Realistic in all things
- Becoming a highly effective communicator.
In other words, McBean emphasizes that leadership is something that must
be recognized, developed and exhibited every single day.
Leaders Plan For Change
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
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.
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