If You Don’t Control It, You Don’t Own It

exec-gearsNot all executives fully understand or appreciate what a powerful management tool “control” is, until something goes very wrong and causes significant heartburn and the loss of a lot of money. Control is a proactive activity with two polar opposites:

  • Controlled activity, which produces profits and efficiency
  • A lack of effective control, which produces failure

In other words, no executive can create success without controls.

Some argue that too much control slows growth and becomes a negative, which is true to a point. It’s finding the balance between the two which is the challenge. In my new book, The Facts of Business Life, I make finding this “control” balance easier by breaking down the five levels every successful business and their departments go through.

Here is a brief look at what control and management look like at each of the five levels of the business life cycle.

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Bill McBean

Bill McBean

Bill McBean, author of The Facts of Business Life: What Every Successful Business Owner Knows that You Don't, spent many of his nearly forty years as a successful business owner in the automobile industry where, he purchased several underperforming dealerships and turned them into a successful business enterprise with yearly sales of more than $160 million. McBean is 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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