The Business Rules

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The Business Rules claims to provide readers with the “seven irrefutable laws that determine all business success”. Rather a bold claim, but the author backs it up with over 20 years of research.

Eichenbaum starts off by stressing that there is no single formula that can guarantee business success—however, every successful business has been successful due to its mastery of the seven laws, and every failed business can attribute its failure to either ignoring or being ignorant of at least one of the laws. To be clear, a business can be successful without mastering all seven laws, but there will always be scope for another business in the same sector to be even more successful – for example, Microsoft versus Apple or Southwest versus the larger airlines.

The laws are:

1. Sell it for more than it costs you.
2. In order to succeed it is imperative to know exactly what business you are in.
3. It’s not about the product, programs or even the people. It is, however, always about the process.
4. Better, faster, and cheaper are really lovely, but easier is everything.
5. Your employees possess everything necessary for you to achieve virtually every objective. Every single one of them has far more to offer than you presently capture.
6. It’s not business. It’s personal.
7. Treat each of your employees with the same care, respect, courtesy, and deference that you treat each of your customers.

To illustrate the laws, Eichenbaum uses many examples and anecdotes from throughout business history, showing that the rules are truly applicable across all industries. This makes the book easy to read, since it’s essentially just a collection of anecdotes that help the laws stick with you. That said, I think the overall structure of the book could have been improved to mirror the laws themselves. Although there is one chapter per law, the chapters aren’t named after the laws. That’s a minor quibble with an otherwise enjoyable and readable book, though.

You should read this book if:

• You like collecting business stories
• You are looking to learn from the mistakes of others
• You are in the planning process for a new business