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9 Lies That Are Holding Your Business Back

Written by:
July 2015
Categories: Book Reviews

Rating:

Published: 2005

9 Lies That Are Holding Your Business Back is written by Steve Chandler and Sam Beckford. The focus of this book is pretty obvious from the title. It explores the 9 most commons myths, or lies, that we tell ourselves about running a business. These myths are not only untrue, but they are self-perpetuating and cause us to make serious business mistakes.

The 9 lies that Chandler and Beckford examine are:

  1. I just need to know how to do this
  2. It takes money to make money
  3. We just need to get our name out there
  4. Experience will benefit me
  5. Lowering prices boosts business
  6. You have to be tighfisted
  7. Customers are hard to figure out
  8. I don’t need any help
  9. I am a victim of circumstance

I must confess I’m becoming a bit of a fan of Steve Chandler. I’ve read a number of his books now, and so far they’re all very well written. Chandler writes from the perspective of someone who’s been there before, and overcome adversity. In his case, alcoholism was his major problem to overcome.

In this book he teams up with Beckford, who is known as the Small Business Millionaire. Together they make a good team as they’re able to call on lots of real-world examples and case studies throughout the book.

As I read it I could relate to telling myself some of these lies. Some I’ve never suffered from, so to speak, but I have certainly spoken with others who have.

A main obstacle not just in running a business, but in running a consulting business, is the need to continually gain more information and deep expertise before we allow ourselves to get on and do. As I once read somewhere, ‘learning and not earning’. In this book this behaviour would relate to lies number 1 and 4. Sometimes we just need to dive in and rely on our intuition to be successful.

The 9 lies presented in the book are all independent, but in many ways build upon themselves. From my own experience I can relate to feeling the need for money to invest in marketing, thereby thinking that you need money to make money (lie 2). In the past the investments I have made in marketing have been precisely in the aim of getting our name out there (lie 3). Having made various investments and often been left feeling let down by poor service or lack of results, I’ve easily been led to believe that it’s better to everything yourself (lie 8).

Favourite Quotes:

“It’s ironic, but filling the needs of your business is not what will ever make you successful. That’s the ultimate flaw of working in your business rather than working on it. You need to focus on wants not needs.”

“The worst failure we see business owners making is the failure that comes from no longer having the internal flame, form no longer be willing to try a new strategy.”

“We don’t see things as they are, we see things as we are.”

“God, grant me the courage to: delegate; to reduce my list to 3 things today; to hold others accountable; to hire capable people who would be flattered if I trusted them to do all these things on my list; to hold myself accountable; to be ruthless; to be powerful and brave and to be an owner and not a victim.”

Conclusion

If you run a business then I recommend you buy this book right now. Especially if you’re just about to embark on running a business, but even if you’ve been running a business for some years, you’ll find some really valuable information in the book. I think this book also relates to much more than just running a business, however. You could apply much of its learning to the challenges of running a team too.

Above all, what the book does do is motivate you to overcome your challenges. The book argues the adage that you should ‘work on’ your business, rather than just ‘work in’ it. Chandler and Beckford show you how to be the Owner of your business, and not the Victim. Something that I think it is all to easy to become.

Buy a copy of the book by clicking on the link below.

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