Praise for The Facts of Business Life
"Bill McBean has both the experience and the acute insights to give entrepreneurs the must-know basics in an easy-to-grasp way. He does just that with The Facts of Business Life, which provides an invaluable 'long view' on what it really means to be an entrepreneur. Businesses, like civilizations, have particular life cycles. This is the first business book I know of that is structured around the customary life cycle of a company and the skills required at each juncture. I especially like the author's thoughts on 'building-in' your exit strategy early on."
—Steve Forbes, Chairman and Editor-in-Chief, Forbes Media
"If you're a would-be entrepreneur or a business owner embroiled in the day-to-day business of business, there's not much that speaks to the full life-cycle of what it means—truly means—to be an owner, manager, CEO, and board chairman. That's where Bill McBean comes in."
—From the Foreword by New York Times bestselling author Ken Fisher
"Bill McBean is a classic entrepreneur with 'street smarts,' book smarts, and a tremendous will to win. His success as an athlete, a small businessman, and a highly respected multi-franchise retailer gives him credibility to be heard and valued."
—Mike Maroone, President and COO, AutoNation
"Being in business for yourself is not only a part of the great American dream. I feel it is the best way to work, live, and succeed. Unfortunately, when you start or acquire a new business, it doesn't come with an owner's manual. In The Facts of Business Life, Bill McBean has created a road map and a guide designed to take us all from where we are to where we want to be."
—Jim Stovall, bestselling author of The Ultimate Gift and The Ultimate Financial Plan
"From a banker's perspective, this is a book every business owner should read. The business life-cycle concept alone is worth the price of admission. Bankers will always respond more favorably to clients who can pinpoint their needs, understand their business, market and opportunities. This book shows the client how to do this. The Facts of Business Life is not only a must-read for every business owner, it's a must-read for every banker."
—Blayne Lensen, Vice President of Global Risk Management (ret.), Bank of Nova Scotia (ScotiaBank)
"As a Co-Captain of the 1989 Stanley Cup Champion Calgary Flames, I learned that practice doesn't make perfect, perfect practice makes perfect. The same has held true in my business career. The Facts of Business Life gives you a road map, a plan, a framework to apply to your business so that you employ perfect practice as it relates to your company. The book can be read chronologically or randomly and provides value on the area of focus you wish to zero in on. Read it and win your own championship."
—Jim Peplinski, owner, Jim Peplinski Leasing Inc.; Executive Chairman, Humberview Partners; Vice President of Business Development, Calgary Flames (NHL)
Foreword xi
Acknowledgments xv
Introduction xix
Chapter 1: The Facts of Business Life 1
The Facts 3
The Business Life Cycle 9
Chapter 2: The Five Levels of Business Success 13
Level 1: Ownership and Opportunity 17
Level 2: Creating Your Company’s DNA 22
Level 3: From Survival to Success 27
Level 4: Maintaining Success 32
Level 5: Moving on When It’s Time to Go 37
Chapter 3: Fact 1: If You Don’t Lead, No One Will Follow 45
Level 1: Ownership and Opportunity 50
Level 2: Creating Your Company’s DNA 56
Level 3: From Survival to Success 62
Level 4: Maintaining Success 72
Level 5: Moving on When It’s Time to Go 77
Chapter 4: Fact 2: If You Don’t Control It, You Don’t Own It 87
Level 1: Ownership and Opportunity 89
Level 2: Creating Your Company’s DNA 93
Level 3: From Survival to Success 98
Level 4: Maintaining Success 103
Level 5: Moving on When It’s Time to Go 111
Chapter 5: Fact 3: Protecting Your Company’s Assets Should Be Your First Priority 121
Protecting Tangible and Intangible Assets 125
Protecting Products or Services 126
Protecting People 127
Level 1: Ownership and Opportunity 129
Level 2: Creating Your Company’s DNA 134
Level 3: From Survival to Success 142
Level 4: Maintaining Success 150
Level 5: Moving on When It’s Time to Go 159
Chapter 6: Fact 4: Planning Is About Preparing for the Future, Not Predicting It 167
The Elements of a Proper Business Plan 170
Level 1: Ownership and Opportunity 172
Level 2: Creating Your Company’s DNA 175
Level 3: From Survival to Success 179
Level 4: Maintaining Success 182
Level 5: Moving on When It’s Time to Go 187
Chapter 7: Fact 5: If You Don’t Market Your Business, You Won’t Have One 193
The Elements of Marketing 196
Level 1: Ownership and Opportunity 198
Level 2: Creating Your Company’s DNA 204
Level 3: From Survival to Success 212
Level 4: Maintaining Success 218
Level 5: Moving on When It’s Time to Go 224
Chapter 8: Fact 6: The Marketplace Is a War Zone 235
The Products or Services You Sell 238
How Your Business Operates 240
How Your Business Competes—The “X” Factor 241
Level 1: Ownership and Opportunity 242
Level 2: Creating Your Company’s DNA 250
Level 3: From Survival to Success 256
Level 4: Maintaining Success 264
Level 5: Moving on When It’s Time to Go 272
Chapter 9: Fact 7: You Don’t Just Have to Know the Business You’re In, You Have to Know Business 279
Product 281
People 282
Accounting and Finance 283
You 284
Level 1: Ownership and Opportunity 285
Level 2: Creating Your Company’s DNA 293
Level 3: From Survival to Success 300
Level 4: Maintaining Success 307
Level 5: Moving on When It’s Time to Go 314
Conclusion 323
About the Author 325
Index 327
Anonymous
Posted January 10, 2013
Every aspiring business owner (and every existing business owner) should read this book. It's full of common sense, timeless advice that help you succeed. Buy it, read it and pay attention. Money and time well spent.
Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.Anonymous
Posted October 4, 2012
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Overview
Praise for The Facts of Business Life
"Bill McBean has both the experience and the acute insights to give entrepreneurs the must-know basics in an easy-to-grasp way. He does just that with The Facts of Business Life, which provides an invaluable 'long view' on what it really means to be an entrepreneur. Businesses, like civilizations, have particular life cycles. This is the first business book I know of that is structured around the customary life cycle of a company and the skills required at each juncture. I ...