The Facts of Business Life by Bill McBean
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Seven Facts to Breathe Life into Your Business from Bill McBean, author of The Facts of Business Life: What Every Successful Business Owner Knows that You Don't

Seven Facts to Breathe Life into Your Business from Bill McBean, author of The Facts of Business Life: What Every Successful Business Owner Knows that You Don't

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The Facts of Business Life by Bill McBean Presentation Transcript

  • 1. The Facts of Business Life by Bill McBean Written by a successful businessman with four decades of ownership experience, and packed with valuable advice, The Facts of Business Life presents every business owner - whether he or she is starting, building, maintaining, or exiting a business - with the key facts that, applied together, can ensure a strong and lasting enterprise. www.factsofbusinesslife.com
  • 2. Seven Facts to Breathe Life into Your Business By Bill McBeanThere are important facts about business ownership. Facts that couldhelp you avoid the mistakes and pitfalls that trip up so many others, andgo on to achieve the success youve dreamed of. After many decades ofrunning his own successful businesses, and learning how othersuccessful owners have created success, Bill McBean has come to theconclusion that these facts are the seven essential concepts needed tocreate a successful business life.If youre ready to build a strong, lasting foundation for your business,then read on for an overview of McBean’s tried-and-true seven Facts ofBusiness Life. www.factsofbusinesslife.com
  • 3. Seven Facts to Breathe Life into Your Business By Bill McBeanFact 1: If you dont lead, no one will follow. In order to have effective employees, your business first has to have effective leadership, which has to include defining success and failure based on the eventual destination. Another important aspect of being a good leader is developing a company culture thats expectations-based, and rewards those who meet and exceed those expectations.www.factsofbusinesslife.com
  • 4. Seven Facts to Breathe Life into Your Business By Bill McBeanFact 2: If you dont control it, you dont own it. Control is the owners management reality. If you dont control your company by defining key tasks and dictating how they must be handled, and "inspect what you expect," then you dont truly "own" the business because all you are is a spectator watching others play with your money.www.factsofbusinesslife.com
  • 5. Seven Facts to Breathe Life into Your Business By Bill McBeanFact 3: Protecting your company’s assets shouldbe your first priority. The truth is, assets -- which include both tangible and intangible assets -- are what power sales, profits, and growth. Successful owners dont stop at protecting obvious assets. They understand the importance of every asset, because assets represent invested cash, which should be managed to produce exceptional and maximized profits.www.factsofbusinesslife.com
  • 6. Seven Facts to Breathe Life into Your Business By Bill McBeanFact 4: Planning is about preparing for thefuture, not predicting it. Being able to plan better than competitors can give you a significant competitive edge in the market. You can make educated guesses based on the most current, accurate information available and your own past experiences, and this should be an ongoing process. Effective planning, is a mix of science (gathering pertinent information) and art (taking that information and turning it into a plan that will move your business from "here" to "there" over a specific time period).www.factsofbusinesslife.com
  • 7. Seven Facts to Breathe Life into Your Business By Bill McBeanFact 5: If you dont market your business, youwont have one. Maybe working to market and advertise your product isnt your cup of tea. Or maybe you believe your product is so great that it should speak for itself. If so, too bad -- youre going to have to do it anyway. The bottom line is, if people dont know about your product, you wont be successful.www.factsofbusinesslife.com
  • 8. Seven Facts to Breathe Life into Your Business By Bill McBeanFact 6: The marketplace is a war zone. You must develop a warrior mentality and maintain it for as long as youre at the head of your business. In order to be successful and remain that way, you have to continually focus on the market, react to it, and fight for what you believe should be yours. If you dont, your competition will win the war. The point being great marketing has to be followed up by having your company on its game in order to capture every customer your marketing attractswww.factsofbusinesslife.com
  • 9. Seven Facts to Breathe Life into Your Business By Bill McBeanFact 7: You dont just have to know the businessyoure in; you have to know business. Yes, of course you need to know the inner workings and nuances of your particular industry if you want to be successful. But you also need to understand the various aspects of business as it is more broadly defined, such as accounting, finance, business law, personnel issues, and more, and how all of these impact each other and the decisions you make.www.factsofbusinesslife.com
  • 10. The Facts of Business Life by Bill McBean 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 worlds 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.The Facts of Business Life is available where books are sold! Amazon Barnes & Noble www.factsofbusinesslife.com