“Management is efficiency in climbing the ladder of success; the leadership determines whether the ladder is leaning against the right wall.”
Stephen Covey-An American educator, author, businessman, and speaker’
hat if management followed scientific principles? Is it possible to build a business systematically using such principles? Is “business growth science” a thing?
Building a great business is part art and part science. The entrepreneur provides the art by discovering a unique combination of resources that can create value and produce a profit.
However, management is also imperative for business success. Without management, there is entropy that leads to chaos, conflict, and wasted resources. Management based on scientific principles ensures that the resources at the disposal of your business are directed to their optimal use.
The entrepreneur’s job is to find a unique combination of resources that the market demands. Management must then ensure that your resources are used effectively and efficiently.
The notion of ensuring that a business is operational and profitable is the origin of business management. The core management necessities are universal and needed by every business; However, each business needs to implement them at its own pace and sequence. So, it’s not practical to apply a one-size-fits-all management rulebook to all companies.
Confused? If so, you may need an expert. Let’s gather around Steve Preda, whose books, skills, and experience are here to help both experienced and newbie entrepreneurs.
“If you own a small to medium size business, you have an opportunity to use it to transport you to your ideal life. Ask yourself: how would you like to spend your waking hours, if money was no object? What kind of life would make you happy and fulfilled? From there” – says Preda – “you can identify the gap from your current reality and create a plan to bridge it, using your business.”
The next step is to turn your business into a well-oiled machine that can take you to your ideal life. Preda, in his book, Buyable: Your Guide to Building a Self-Managing, Fast-Growing, and High-Profit Business, outlines seven management concepts, and their origins, you can build on to orchestrate a thriving business.
The seven management concepts are Culture, Structure, Vision, Strategy, Execution, Process, and Alignment.
Preda decodes the secret of turning any business into a valuable asset in Buyable: Your Guide to Building a Self-Managing, Fast-Growing, and High-Profit Business. The book is practical, simple, and adaptable rather than just motivational and entertaining. In Buyable, Preda explains the typical reasons for small business failure and how to avoid them. He explains how to implement the Seven Management concepts in your business practically. He discusses the pros and cons of each of the 10 most popular Management Blueprints that help you implement them.
Buyable has been popular with readers and has received over 100 positive reviews. Some of the reviews are:
“Buyable is a holistic framework for creating a self-managing business and shaping it with the ideal buyer or investor in mind. I highly recommend it!”
Gino Wickman, Author of Traction and Entrepreneurial Leap
“This is a must read for every entrepreneur and business owner. I expect this book to stand the test of time and become a business classic sitting beside some of the other great guides from Gino Wickman, Geoffrey Moore, and Guy Kawasaki.”
Matthew Laherty, CEO of Platformatics
Besides buyable, Preda has authored two newsletters and four books, including Insights of a Maverick Investment Banker: My Lessons for business owners about selling entrepreneurial companies in Central Eastern Europe, Insights of a Maverick Exit Advisor: The Diary of 12 Years of Investment Banking in Central Europe and the United States, Pinnacle: Five Principles that Take Your Business to the Top of the Mountain, with co-author Gregory Cleary and Strategy OS: Implement an Advanced Business Operating System in Six Simple Steps. Amershire Publishing Company published all his books.
Additionally, he has hosted two podcast series, Succession Secrets (Apple Podcast, 2015-2018) and Management Blueprint (Apple Podcast, 2020- present).
Steve Preda is a seasoned expert in assisting small to medium-size business entrepreneurs in building growing, self-managing, and highly profitable businesses. Over the last two decades, he has helped over 250 entrepreneurial organizations increase their value and marketability as a mergers and acquisitions (M&A) advisor, business coach, EOS Implementer(R), and Pinnacle Business Guide. He transformed an investment banking firm into a market leader in Hungary by implementing the E-Myth and Entrepreneurial Operating System Management Blueprints. In 2013, a private equity firm acquired his business, which enabled Preda and his family to relocate to the United States. Preda shares his insights by blogging, podcast hosting, and delivering workshops and keynote speeches to business audiences across the country.