The essential guide that helps business owners achieve success at every stage of their companies' life cycle Being a successful business owner means more than knowing one's industry and understanding the basic concepts of leadership or motivation. It means being able to master many areas of business, and knowing how each of these areas relate to and build on each other. It also means understanding how those areas change as a business goes through its inevitable life cycle, and the productive owner must be prepared to change with them. "The Facts of Business Life" is the first book designed to provide readers with the means of achieving the kind of long-term understanding that is the key to true and lasting success. The book includes the ten Facts of Business Life that every successful business owner knows, including: "If you don't lead, no one will follow," "Being your own boss isn't really what you think it is," and "You don't just have to know the business you're in--you have to know business." Devoting one chapter to each Fact, the book shows readers how they impact businesses at each of the five levels a successful business goes through: Ownership and Opportunity, Creating Your Company's DNA, From Survival to Success, Maintaining Success, and Moving On When It's Time to Go. Packed with valuable advice for every business owner--whether he or she is starting, building, maintaining, or exiting a business, the book may very well be the difference between failure and success.Presents ten practical, actionable business facts that, once understood, can be used to help ensure true successLooks at the most important moments in the evolution of a businessExplores everything from the actual role of the owner to the realities of the marketplace, from how to recognize an opportunity to how to lead a company to success, and from how to monitor and control a business to how to determine a company's direction In the blink of an eye, business success can turn into total failure. "The Facts of Business Life" presents owners and would-be owners with the ten key facts that, applied together, can ensure a strong and lasting enterprise.