For years, David Mitchell has mentored companies and business leaders to success, helping them develop the tools and processes they need to make a business successful. He knows the secrets of why companies are successful, why customers stay loyal or leave, and how to be an effective business leader. Unfortunately, it would be impossible for him to advise every business, so he has now written Building Your Booming Business to share the top strategies businesses need if they want to get ahead and stay there in a competitive marketplace. And surprisingly, it’s not just about profit or even having a better product.
Mitchell guides the reader through what he calls The Five Business Fundamentals that are necessary for any company, no matter how big or small, to succeed in today’s business world. I don’t think he is revealing too much or surprising anyone by stating what those fundamentals are: Marketing, Management/Leadership, Operations, Finance, and Systems and Controls. But what makes this book stand out is that Mitchell knows you have to keep all these foundations strong at the same time. He likens this situation to trying to spin the plates, and if not done correctly, one of your plates or foundation can collapse, resulting in the failure of the entire company. Mitchell walks readers through the process of making sure they have the foundation in place and the equipment to keep the foundation strong.
Mitchell’s discussion of each foundation is divided into several chapters covering topics such as determining your target market, building a miracle team, the hidden marketing secret, knowing your business’s financial score, and how to avoid being overly systematized. Mitchell then devotes a section to asking the reader to introspect and look at his own personal success habits. Even if the Five Foundations are in place for a business, they are only as strong as the people behind them. Mitchell asks her readers to consider what it really means to be a leader, explore how to motivate yourself, the importance of taking care of yourself outside of the workplace, and how to follow through so your business and personal life thrive.
One of my favorite parts of the book was when Mitchell talked about leadership and broke it down into its different types: directive, supportive, consultative, and empowering. He then discussed each one. For example, he describes the directive style of leadership by saying:
“I’ve heard the managerial style described as the ‘John Wayne’ style of leadership: telling the team exactly what to do and when to do it. Many leaders default to this style because it’s the easiest. It’s also the most stressful because the leader bears the burden and all the knowledge.”
However, while the style directive has its flaws, Mitchell points out that it is the best style in certain situations:
“Directive leadership is best used when the leader has all the information, while the team has very little, such as when forming a team for the first time or while training a new employee. We’ll get into team development later and how the managerial style fits in. For now, know that this is a ‘micromanagement’ style.
“Directive is also best used in a disaster or emergency situation when there is little time to collaborate and discuss a solution. First responders are taught the directive style of leadership: don’t ask or plead for someone to get help; tell them what to do. “
Consequently, Mitchell confirms that there are no easy answers as to which leadership style is better or worse. Each has its strengths and its appropriate place depending on the leader, the team, and the business, and the appropriate style may change as the business and team change or evolve. At the end of this discussion, Mitchell provides an insightful quiz to help the reader determine which style they use most often and also to determine when and how to switch to using a different leadership style.
Beyond the facts and strategies that Mitchell presents, I appreciated his sense of humor and his personal stories. He’s not afraid to tell it like it is, like why “sacred cows” often need to be removed from a business. He uses personal examples, including from his early entrepreneurial experiences mowing lawns, as well as more recent ones, such as discussing why the taqueria he frequents is barely advertised but always packed, and why he keeps coming back for more. She tells stories of businesses she has helped, exploring what they were doing wrong and how they ultimately succeeded. She even explains why she’s not going to get a free massage at the place that gave her a coupon, but why she loves the place where he changes the oil in his car.
All of these stories and strategies reveal that Mitchell is a real person who understands the customer experience and the difficulties of running a business. His ability to see situations from both sides qualifies him to help companies better understand their customers, leaders better understand their teams, and readers better understand what they must do to create a successful business. And Mitchell shares it all on these pages. Building your booming business is a sure start, whether you want to start a business or take it to the next level or beyond.