About the Book
How to drive top-line success with customers while growing the bottom-line through improved business cash flow.
In Owning a Great Business, Lorin Young draws on his success as both a corporate and small business leader to reveal why winning in the game of business is hard for businesses of all sizes. You will gain valuable information on how you can create a principle driven winning business formula by pairing the 6 P’s of marketing (product, price, promotion, place, packaging, and people) with the 5 Ws + H (who, what, when, where, why ,and how) information-organization formula. When used together, both formulas offer a proven approach for success despite the state of the economy.
If your goal is to attract new customers the easy-to-follow seven principles (7-P) framework and thought provoking decision models will help your business thrive. Your new insights will lead you to make more effective decisions based on your customers’ needs and wants. As a result, your business will achieve higher levels of success by pinpointing more easily the errors that are holding you back from rapidly moving into the category of becoming a great business.
Don’t settle for good. Be GREAT.
Can you tell us more about your book “Owning a GREAT Business” What is it about?
Owning a great business shows how owning one is within everyone’s reach when they know, with clarity who their customer is, what problem they are trying to solve, when are they most likely to need your help, and where will they want to buy from you! Knowing the truth to these key organizing principles will get you started in making better decisions with confidence. The other three principles associated with the 7-P Framework associated with why, how and profits will ensure yours is a great business for years to come.
Who do you think would be interested in this book, is it directed at any particular market?
- Small business owners who are working hard with passion and purpose yet are unsatisfied with the results they are getting.
- Owners of new business start-ups who are struggling with getting their business sustainable.
- People employed by others who are considering the leap into becoming the employer rather than the employee.
You mention that there are 7 amazing organising principles to help make a business great, can you share 1 of these with us, or at least hints of what they may be?
The 7-P Framework draws from the proven 6 Ps of marketing (product, price, promotion, place, packaging, and people) and the 5 Ws + H (who, what, when, where, why and how) information organization principles to help its users drive the results they want. The purpose of the 7-P Framework is to provide a mental model that makes hard decisions easier by helping it’s user focus on the critical few things they need to do not the relevant many things they can.
You currently run your own business while having worked for some global businesses, did you ever receive a piece of advice from someone which really helped you? Did you ever receive any guidance that wasn’t helpful at all?
The best boss I ever worked for had a wise saying, “focus on the critical few not the relevant many.” In business it is way too easy to spread yourself thin chasing after a lot of different possibilities, yet it’s that focus on the most critical elements that make the difference between doing good and being great.
Alongside “Owning a GREAT Business” do you have any other books, or plans to write more?
I am also the author for Owning a Great Business Roadmap and A More Excellent Way Everyday. The Owning a GREAT Business Roadmap is a companion playbook to this book. I created the roadmap as a series of self-guided exercises by organizing principle to help purposeful business owners accelerate their application of the seven organizing principles to their unique business dynamics.
Tell us more about you? You run a private equity firm, plus a marketing services company. You surely have a lot going on, how do you manage it all?
If I don’t feel I’m creating value from my time, talent and efforts I am really challenging myself on why I’m doing it. For me the best part of business is in the exchange of value that serves a need or satisfies a want. Since obtaining my undergraduate in marketing management and my MBA, I have continuously studied how best to connect people to the things they need and want. I have found that there is nothing more satisfying than helping people solve a problem, serve a need or satisfy a want because they found you and have concluded that you can deliver what your brand promises.
If you were not able to write, is there any other creative medium that you would use, and why? Would you present your ideas at conferences for example?
My goal in writing is to help others avoid some of the mistakes I have made as a small business owner. Owning your own business is the hardest work I have ever done. Over the years I have learned a lot about what works and what doesn’t. My purpose in writing “Owning a GREAT business: 7 organizing PRINCIPLES so yours is one of them” is to transfer some of the knowledge I have earned over the last 30 years to others so they can get a jump start on owning their own great business.
Out of all the books in the world, and all the authors to choose from, which book and author would you suggest to be your favourite and why?
I enjoy reading business books of all kinds, particularly by those who are in the business of doing business not studying about it. Every book I read gives me something new to think about that I then try to use to make me a better person, leader, and contributor to society.
What guidance would you offer to someone new to the writing work, or who was trying to enhance their craft or business?
Have a point of view. Know what value you are trying to create. Then blend the two together to create improved ways of living, thinking, and doing things. People have problems to solve, needs to be served and wants to be satisfied. Your opportunity is to help people accomplish the things they want to accomplish through the words you write, products and services you provide.
Where can our readers find out more about you, do you have a website, or a way to be contacted?
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