The Facts of Business Life: What Every Successful Business Owner Knows that You Dont

The Facts of Business Life: What Every Successful Business Owner Knows that You Dont

by Bill McBean
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The Facts of Business Life: What Every Successful Business Owner Knows that You Dont by Bill McBean


  • Being your own boss can be a great career choice
  • Success is what you decide it is
  • Doing what you have a passion and talent for can be very profitable
  • Monetary risk, hard work, and new ideas should be financially rewarded
  • Understanding the business basics every successful owner focuses on—and in what order—would be beneficial
  • Success works for you only after you’ve worked for it
  • Marketplace battles are won before they are played
  • Knowing what owning a business is really like would make ownership success a lot easier
  • Change can create great opportunities
  • Knowing when to exit a business is as important a life and business decision as becoming an entrepreneur in the first place


Written by a successful business owner with four decades of experience, The Facts of Business Life is full of real-world concepts that owners must use and embrace if they want to become and stay successful. This multiple award-winning book has been endorsed by some of America’s top business leaders, like Steve Forbes and Ken Fisher, and has been recognized as “one of the best five business books of the year” and “a must read for entrepreneurs or those wanting to be one.”

McBean begins with clear explanations and real-life examples of the seven Facts of Business Life that every successful business owner knows and executes consistently, including exactly what they are as well as how and when to use them. He then goes on to show how those facts impact on the five levels every successful business passes through, from “Ownership and Opportunity” to “Moving On When It’s Time to Go,” explaining that while the facts themselves remain the same, as a business becomes successful and moves through its life cycle, the way they are applied must change to fit changing circumstances.

But there are even more reasons why this breakthrough business book is a must read, including:

  • Its principles are based on the author’s own experience in starting and running successful businesses in a variety of industries.
  • It shows that the most successful businesspeople create profitable opportunities rather than wait for them to present themselves.  
  • It enables readers to analyze the likelihood of their own success based on the characteristics most successful owners have.
  • It reveals the #1 priority for all owners and their employees, and why every owner needs to continually focus on it (Hint: it’s not being profitable).
  • It emphasizes that becoming successful is no guarantee that success will last, and that success itself can be a trap that eventually leads to failure.
  • It shows that a business’s culture isn’t just a mission statement but also the processes created to operate the business and the employees who implement them.
  • It discusses the steps that must be taken even before a business is started to increase the odds of its becoming a lasting success.
  • It covers every step in a business’ life cycle, including the last one, showing that the best time to exit a business is when you don’t have to, and that unless you pick that time, someone else will.


Product Details

ISBN-13: 9781118094969
Publisher: Wiley
Publication date: 10/09/2012
Pages: 336
Sales rank: 1,307,127
Product dimensions: 6.00(w) x 9.10(h) x 0.60(d)

About the Author

BILL McBean spent many of his nearly forty years as a successful business owner in the automobile industry where, among many other achievements, he purchased several underperforming dealerships and turned them into a successful business enterprise with yearly sales of more than $160 million. Since selling the company to the world's largest automotive retailer, AutoNation, McBean has been involved in several new businesses, including McBean Partners, an investment and business mentoring company, and Net Claims Now, which provides administrative services and support to the restoration industry.

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The Facts of Business Life: What Every Successful Business Owner Knows that You Dont 4.8 out of 5 based on 0 ratings. 17 reviews.
COE2 More than 1 year ago
Easy to follow business advice. This book has a great step by step process with seven easy facts to follow and five levels of the business life cycle. The author breaks down the seven business facts with great examples. I recommend this book and this process no matter what business or compay you are starting.
Anonymous More than 1 year ago
Great read and advice for both business owners and consultants. I really appreciated the "straight talk" style of the author on how to take one's business to the next level. The book provides guidance to help others avoid the pitfalls many aspiring entrepreneurs run into time and time again.
Anonymous More than 1 year ago
Easy-to-read. Really helped me re-assess the organization, operation, and salability of my business. Hats off to the author who presents his thinking from a base of practical experience, not the pie-in-the-sky theoretical.
Anonymous More than 1 year ago
This is an easy read that will guide a business owner through the entire life cycle of a business.  I am an entrepreneur and executive manager, and have studied business throughout my adult life.  I will refer back to this book often, and highly recommend it to anyone interested in business ownership!  Jack Powers
MED2 More than 1 year ago
This is a brilliant book regarding the inner workings of the business world and what it takes to run your establishment effectively. The seven key facts of operating a strong company are brief and concise; the points are excellently explained throughout the book. Bill’s clear-cut approach to business has worked considerably for him and it can work for you too. 
Anonymous More than 1 year ago
This book helped me to implement alternative approaches in my business while reinforcing and restructuring some of the current methods being used. I feel the book is helpful for new, established, and future entrepreneurs to honestly assess the landscape of what it means to be a successful entrepreneur. I highly recommend this book.
Dladysmiles More than 1 year ago
This book was clear and concise, even if you don't own your own business or plan on ever owning your own business, it gives a very good insight into what business owners (i.e. your boss) are seeking. If you can get on the same page as your boss, you will go far in your company. This is a must read for anyone in the business world.
Anonymous More than 1 year ago
One EVERYONE should read, preferably as soon as they're old enough to comprehend it (teenager possibly). Helps you evaluate your goals & priorities in life and determine what kind of person you want to be and how to be successful! Very good info, wish I had purchased this book when it was first published.This book is a great read to keep on track and effectively work through professional and personal challenges.  - Rafael Batista
Anonymous More than 1 year ago
Every leader can use a guiding light to keep growing. This book is a yellow beacon for business owners to lead and to keep striving to reach higher goals. Bill McBean speaks from experience as successful business owner. To the point, smooth read. You can tell he has his heart in his businesses. I still have a long way to go. 
shanejayhayes More than 1 year ago
It isn't often I find a business book that has something original and refreshing to say. The Facts of Business Life is a breath of fresh air in the usually stuffy and stale business book world. The tips, guidance and advice are top notch and easy to follow. This is a must read, or listen, for everyone who is considering owning a business and those who already do. Mr. McBean has a no nonsense approach to business and the background to back up his statements. I am putting this on the shelf next to my 21 Irrefutable Laws of Leadership and 7 Habits of Highly Effective People. I highly recommend you get this book if you are interested in business, success or just doing things a little better.
Anonymous More than 1 year ago
This book is absolutely fantastic ... I am not currently a business owner but have been in the past ... I have plenty of experience in the corporate world from established companies to startups and from failing businesses to successes ... McBean clarifies the entire process step by step ... The information McBean conveys is invaluable ... Coulda, shoulda, woulda read this book almost two decades ago when I was exiting college ... If you want to own a business, buy this book ... If you don't want to own a business, buy this book - because you'll want to work for someone who has read this book ... I have personally recommended The Facts of Business Life to numerous close friends/family ... This is a must-have book ... and that pretty much means, I'm telling the citizens of Amazon that it would be in their best interests to buy and read/listen to this book ... The ONLY gripe I have about the book is that James Earl Jones does not narrate the audiobook ... I hope to meet Bill one day, shake his hand, and thank him for graciously bestowing his knowledge and experience ... Job well done, McBean, job well done.
Anonymous More than 1 year ago
I don't read too many books but this one was referred to me by a friend. As a young first time business owners this really opened my eyes to a lot things I had simply not realized. I made a few changes regarding the way I run my business based on the book and I can already notice the positive effects. Take it from someone who doesn't necessarily read too many books, this one is worth it
Anonymous More than 1 year ago
As an avid business reader and owner this book gives you real life advice on how to be successful under any circumstances.It will guide you through every aspect of owning and running any business. Bill McBean is the consummate businessman and above all great man. Proud to call him my friend.
Anonymous More than 1 year ago
 I feel that the guidance in this book would keep me away from potential mistakes. I found it helpful that each chapter backed up a  fact of business.
Anonymous More than 1 year ago
I received this book as a gift from a friend who knew I had aspirations of starting my own business.  After reading "The Facts of Business Life," I feel like I definitely learned some valuable tips to not only get started, but to be successful as well.
Anonymous More than 1 year ago
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.
Anonymous More than 1 year ago