The Facts of Business Life

Contents

Foreword

Acknowledgments

Introduction

Chapter 1: The Facts of Business Life

The Facts

The Business Life Cycle

Chapter 2: The Five Levels of Business Success

Level 1: Ownership and Opportunity

Level 2: Creating Your Company's DNA

Level 3: From Survival to Success

Level 4: Maintaining Success

Level 5: Moving on When It's Time to Go

Chapter 3: Fact 1: If You Don't Lead, No One Will Follow

Level 1: Ownership and Opportunity

Level 2: Creating Your Company's DNA

Level 3: From Survival to Success

Level 4: Maintaining Success

Level 5: Moving on When It's Time to Go

Chapter 4: Fact 2: If You Don't Control It, You Don't Own It

Level 1: Ownership and Opportunity

Level 2: Creating Your Company's DNA

Level 3: From Survival to Success

Level 4: Maintaining Success

Level 5: Moving on When It's Time to Go

Chapter 5: Fact 3: Protecting Your Company's Assets Should Be Your First Priority

Protecting Tangible and Intangible Assets

Protecting Products or Services

Protecting People

Level 1: Ownership and Opportunity

Level 2: Creating Your Company's DNA

Level 3: From Survival to Success

Level 4: Maintaining Success

Level 5: Moving on When It's Time to Go

Chapter 6: Fact 4: Planning Is About Preparing for the Future, Not Predicting It

The Elements of a Proper Business Plan

Level 1: Ownership and Opportunity

Level 2: Creating Your Company's DNA

Level 3: From Survival to Success

Level 4: Maintaining Success

Level 5: Moving on When It's Time to Go

Chapter 7: Fact 5: If You Don't Market Your Business, You Won't Have One

The Elements of Marketing

Level 1: Ownership and Opportunity

Level 2: Creating Your Company's DNA

Level 3: From Survival to Success

Level 4: Maintaining Success

Level 5: Moving on When It's Time to Go

Chapter 8: Fact 6: The Marketplace Is a War Zone

The Products or Services You Sell

How Your Business Operates

How Your Business Competes—The “X” Factor

Level 1: Ownership and Opportunity

Level 2: Creating Your Company's DNA

Level 3: From Survival to Success

Level 4: Maintaining Success

Level 5: Moving on When It's Time to Go

Chapter 9: Fact 7: You Don't Just Have to Know the Business You're In, You Have to Know Business

Product

People

Accounting and Finance

You

Level 1: Ownership and Opportunity

Level 2: Creating Your Company's DNA

Level 3: From Survival to Success

Level 4: Maintaining Success

Level 5: Moving on When It's Time to Go

Conclusion

About the Author

Index

Additional Praise for
The Facts of Business Life

“Who better to talk about business ownership then someone who has done it, lived it, loved it, and left it?
The Facts of Business Life
is not just a book about how to be successful, it's a book that challenges some commonly believed entrepreneurial myths, and in my case, made me rethink my role as a business owner. Bill's book will surprise some with facts such as ‘Protecting Your Assets is Your First Priority;' what asset protection means and why it's important; and his explanation of the ‘War Zone' and how all these facts work together to create unbelievable success. If this isn't enough for one book, Bill gives us more; the business life cycle makes so much sense, and when you understand it, it makes my role as an owner so much clearer.”

—Gil L'Hommedieu, founder, President, and CEO, Net Claims Now

“Bill McBean is the consummate business executive. Just ask the manufacturers he represented so successfully, the competitors from whom he regularly grabbed market share, or the employees who were fiercely loyal to him. But Bill also has an amazing capacity to reflect on his business experiences and convey the lessons he's taken from those experiences. The five levels of a business life cycle is a perfect example of this. It's Bill's concept, simple to understand, and makes perfect sense. Two of these levels, ‘Creating Your Company's DNA' and ‘Moving on When It's Time to Go' are worth the price of a dozen books.”

—Fritz Kern, former SVP and General Manager, U.S. Passenger and Commercial Vehicle Operations, American Isuzu Motors

“Bill McBean is one of the best business owners I've ever come across. I think so much of his ability that I seek out his opinion on my own business issues, and have referred some of my best clients to him for his expertise. Every page of
The Facts of Business Life
has something owners can use in their business, but I found the ‘War Zone' and ‘Marketing' facts to be especially powerful, as are the levels on DNA creation, opportunity and its Analysis, and the maintaining of success. This is a great book, and the way Bill describes the business life cycle concept, like a light switch being turned on—it made so much else make sense. It will be a wonderful gift to my customers and a great introductory tool for my sales force to pass out to prospective customers.”

—Tony Fincannon, CEO and President, Dealer Associates

“What impressed us most about Bill was the clarity he brought to complicated business issues. Bill's book,
The Facts of Business Life
, does just this; it discusses the priorities business owners need to concentrate on to be successful. The life cycle Bill describes is brilliant and brings clarity where there was none. His book makes business ownership easy to understand for the rest of us.”

—Victor Papazov, Chairman, Bulgarian Stock Exchange, and Irena Komitova, Managing Partner and Publisher, Creative Solutions; Sophia, Bulgaria

“Bill McBean is a self-made businessman. He started with little and turned it into a lot. I've been able to closely watch how he takes troubled businesses and turns them into successes, then uses their collective successes to create a competitive advantage in the marketplace. Bill is a competitor who attacks a market with preparation, skill, and determination. His book is a must-read for every business owner because the seven Facts of Business Life and the five levels in an ownership life cycle are the summation of his four decades of experience and success, and a tribute to the great business owners who mentored Bill. Level Five, ‘Moving on When it's Time to Go,' is a must-read, because Bill's exit was as good of one as I've ever seen.”

—Tony Nolan, former President and CEO, NCM & Associates

“Bill is a great businessman who delivers a strong message, simply and to the point. The seven Facts of Business Life give owners the priorities they need to concentrate on to be successful and profitable. The five levels of a business (and/or owner) life cycle is something I've never thought about, but makes perfect sense and gives me a structure or boundaries to work within, as well as a clearer focus on where I am and where my business is headed. When you read this book, you quickly recognize why Bill was so successful, and there is no doubt that you're talking to a business owner who has been where we are, and won the battle. This is simply the best business book I have ever read.”

—Dave Resendez, Director, Texas Towing Association

“Many people have common sense, but few people can turn common sense into uncommon success. Bill McBean is one of the few who can. As a successful businessman, Bill has demonstrated an uncanny ability to maintain integrity and honor in both his business and personal life. Because of that, his employees love to work for him, his customers trust to buy from him over and over again, and he endears himself to his friends. His book is a must-read and should not be limited just to entrepreneurs, but to individuals who are running any type of organization.”

—Jess Cole, Senior Pastor, Grace Community Church, Corpus Christi, Texas

“Understanding the entire realm of business—marketing, sales, costs, employees, and products—is a trait few business owners have. But Bill McBean can not only see the whole picture, he understands the small things as well. This is reflected in his book,
The Facts of Business Life
, and particularly in how he describes the seven facts and why they are important singularly, and then shows you the real strength of the facts—how they work in tandem with each other to create great success. Add this to the description of the five levels of the business life cycle and the result is a source of great knowledge for business owners large and small. A must-read business book.”

—Ted Oakley, Director, American Bank

“As a successful, hands-on entrepreneur, Bill has done a masterful job of presenting the essential elements for successfully running and growing a business. His presentation is straightforward and compelling, and anyone who owns, manages, or is considering starting a business should grab a highlighter and start reading his book.”

—Mike Lewis, CEO, Office Arrow

“Bill has a wonderful business mind and an uncanny ability to cut through the ‘noise,' clearly see a problem or opportunity, and then attack it. His businesses are successes because he is a visionary, a leader, a motivator, and a focused manager, and because his employees believe in him. When you read his book you'll know why. Bill sees the complete macro picture of owning a business and puts it all in an orderly, easily-understood, sensible format.”

—Tim Keen, Vice President, Sonic Automotive

“Bill McBean is humble, honest, has a great sense of humor, and is a sincere friend to all of us here at his alma mater. He was and is a hard working professional and a leader amongst his peers. It is little wonder that this former captain of his hockey team is now a captain of his team in the business world.
The Facts of Business Life
explains how Bill has taken some of the hard lessons sports teaches and used this knowledge in his business career. Particularly telling is the ‘The War Zone' business fact, which tells about the competitive spirit needed to succeed or the business fact concerning the importance of protecting your business assets, which reminded me of how critical defensive play is to winning and becoming champions. Bill's book is not just reserved for business owners; it should be read by managers in every occupation.”

—Bill Seymour, former Athletic Director and Men's Hockey Coach, University of Saskatchewan

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