The Facts of Business Life was written by Bill McBean who has a 40 year career as a business owner in the automobile industry. During his successful career, he purchased several underperforming assets, turned them around, and sold them to the world's largest automotive retailer, AutoNation.
The book is comprised of the following chapters:
- The Facts of Business Life
- The Five Levels of Business Success
- Fact 1: If You Don't Lead, No One Will Follow
- Fact 2: If You Don't Control It, You Don't Own It
- Fact 3: Protecting Your Company's Assets Should Be Your First Priority
- Fact 4: Planning Is About Preparing for the Future, Not Predicting It
- Fact 5: If You Don't Market Your Business, You Won't Have One
- Fact 6: The Marketplace Is a War Zone
- Fact 7: You Don't Just Have to Know the Business You're In, You Have to Know Business
As a successful business man, Bill McBean has mastered many areas of business that has allowed him to achieve long-term success. His book shares the above seven facts of business life that every successful business owner should already know.
The author dedicates one chapter to each fact and explains its importance and how it can help entrepreneurs achieve success and avoid mistakes. In addition, he explains how each fact impacts a business as it passes through the below five levels of existence:
- Ownership and Opportunity
- Creating Your Company's DNA
- From Survival to Success
- Maintaining Success
- Moving On When It's Time to Go
The book will equip the business owner with the tools to better evaluate and prepare for each situation so he/she can make changes as the business evolves. Business owners need to know more than just the basics of business.
The Facts of Business Life is a valuable resource for business owners no matter what stage a firm is in. By reading this book, you will learn how to ensure that you are able to run a sustainable business.