Running your own business can be fun, stressful and rewarding, and for some is the culmination of a lifelong dream.
Like a lot of businesses, you can benefit from the EOS system. It strengthens your business by implementing tools to help it grow, and to focus the team.
The big appeal of EOS is that it offers your organisation a model to manage the people, processes, resources and issues in your business that’s straightforward and tested.
Thousands of businesses around the world are making the switch to EOS, adding discipline in order to be more efficient. While it has has proven effective, there are a number of stumbling blocks when implementing EOS that could hold you back from maximising your results.
If you’re running your business on the Entrepreneurial Operating System, you’ll know that the key element is regular, efficient meetings, which keep your business on track, and help to assess how well employees are performing and how well they’re working together.
These are known as Level 10 meetings, because each one is rated by the attendees, with the aim is for everyone to score every meeting a 10. At the end of the meeting, each person gives their individual assessment – out loud.
EOS can make rapid, tangible differences to the way your business operates – from better communication and greater transparency to stronger structures and improved accountability.
Here some of our clients describe their top six benefits of running your business on EOS.
“Following each meeting we had a list of actions and assistance to ensure our tasks were completed before the next session. The best thing was that the team can see the results immediately. They see things changing, whereas in the past we would promise but never execute.” Jason Choy, Welcome Gate MD
“We’ve found that we can embed effective business tools into our day to day habits – it turns out we all like to track, measure and create useful magic spreadsheets more than we thought!” Keren Lerner, Top Left Design CEO
The Vision/Traction Organiser (VTO) is probably the most important document you’ll complete, if you’re running your business on the Entrepreneurial Operating System.
It is a unique two-page template for organising plans and forecasts the future of a company. Once completed it acts as a time-management tool, helping you decide when to action each element of your strategy.
We have all seen simple one-page solutions for creating and organising your company strategy, but the VTO is different.
Would you like to the opportunity to hear from the creator of EOS in person – and share your experiences with other companies running on the system?
Gino Wickman will be the featured keynote speaker at the second annual Conference for Companies Running on EOS.
The conference will enable leadership teams to:
Connect: with others on their EOS journey
Learn: from expert speakers and subject matter experts
Strengthen: your implementation of EOS
The inaugural conference was held in Atlanta and was such a success they decided to make it an annual event.
There will be a fabulous selection of keynote speakers including the EOS visionary Mike Paton, author of Get a Grip, and veteran EOS user, Todd Sachse, who has run his company on EOS for the past 15 years.
Over the two days, there will be great breakouts covering everything from how to be a great boss to a deep dive into core processes to decision making to hiring right at the senior level and emotional intelligence.
Most importantly, the conference will allow you to learn from and share experiences with a peer group of business owners implementing EOS. They’ll speak the same language, and know and understand the benefits – and challenges – of implementing the system.
Here is the full conference schedule.
The conference takes place on 26th and 27th April at the Marriott City Centre in Minneapolis.
Click here to find out more at the Conference for companies running on EOS and to register for the event.
Podcasts are a great way to educate yourself on the go – whether you’re on a plane, a train or on in your car, you can make unproductive time productive.
They provide great value, and the best are beautifully produced, and are using entertainment to embed the learning.
With so many podcasts for entrepreneurs – and the number is growing daily – it is sometimes like being a child on Christmas Day, trying to decide which present to open first.
My current favourite is “Masters of Scale with Reid Hoffman“.
If you’re a typical entrepreneur, you probably have 100s of apps you thought you needed but have never opened since.
Yes, I’m going to recommend another one.
But this one is worth the space on your phone.
Don’t do what doesn’t need doing.
Figure out your strengths and what you love, and resource everything else.
When you started your business, you probably did a number of non-core things in an attempt to save money.
And even once a business has grown, leaders often don’t consider outsourcing key skills, roles or responsibilities.
However, today’s market has changed.
Building a good team culture in your business is essential. It can be the difference between success or failure, stagnation or growth.
When I founded my first business, Retail Profile, we started small.
Despite this, we consistently doubled the size of our business without growing the size of our team.
This was because we consciously set out to build an amazing team culture that made sure everyone fitted in, felt involved, felt valued and everyone shared the company vision.
In order to take a company to the next level, most businesses will need to continually evolving their vision.
Your business may have outgrown your initial plans and become more complex as it has grown.
These three key points will help you get your team on board and communicate your vision as it evolves.
One of the favourite sayings of EOS implementers is “Vision without traction is merely hallucination.”
Vision and Traction are two of the elements, along with Healthy, which make up the Entrepreneurial Operating System.
- Vision: ensuring everyone shares the same outlook on where your organisation is heading, and how it will get there.
- Traction: bringing discipline through responsibility and accountability, so you can execute to achieve every part of your vision
- Healthy: help them become a healthy, functional, cohesive leadership team, because unfortunately, leaders don’t always function well as a team
Which should come first – traction or vision?
Hiring the right staff is one of your most important tasks – if you don’t have the right people in the right seats, it can have a real impact on success of your business.
It is important to hire people who share the vision and culture of your business.
Here, our intregrator Majida Burch, describes the steps we take to make sure we hire staff who meet our vision and values.
Our first Business Leader Breakfast, which took place earlier this month, was a great success.
Along with fellow EOS implementer Dean Breyley, of Grow or Die, we discussed the topic of “Is your culture killing your business”.
We focused on how to put the right structure in place for your company and how to hire the right team to match your business culture.
We introduced the entrepreneurs who attended the event to some of the tools which EOS uses to help you assess your team and hire the right people.
Here’s a short video about the event.
Our first Business Leader Breakfast focused on business culture. We’re already planning our next Business Leader Breakfast, which will concentrate on one of the other elements of an organisation.
If you’d be interested in attending, email us on email@example.com or via the website, and we will make sure you receive an invitation.
It’s rare that anyone who starts their own business has a totally smooth ride. Ask any entrepreneur what they learn most from, and they’re bound to say their mistakes – and the lessons they learnt.
And I’m no different. I have experienced the entrepreneurial roller coaster.
Since 2001, I’ve launched a business in three European countries and have also lost a business, restarted it, rebuilt it, merged the business with my largest competitor and exited.
In 2014, I started my current business, Bold Clarity.
Regardless of where you are in your entrepreneurial journey, it’s vital to have a network around you who understand what you’re going through, can revel in the good times, and can help and support you through the bad.
Throughout this journey, I have had a supportive peer group of entrepreneurs.
There are many different networking and support groups aimed at business owners, both non-profit and some are for profit.
There is no one-size-fits-all solution to implementing EOS effectively, because it has a different impact on your team, across every level of an organisation.
That’s where The Traction library comes in. As everyone in your team needs to possess the correct information and means to implement it, the books in The Traction library are tailormade for every level in a business.
Whether you are senior management or below, these books are designed to make everyone more in-tune with their role and better placed to make your company thrive. Here is a brief synopsis on each.
Have you considered providing coaching for your leadership team?
Think of your leaders as sports stars. Whether they’re Roger Federer, Usain Bolt, or Olympic Gold medallists, they’ll still have a team of coaches.
Successful leaders surround themselves with great people – the right people in the right seats.
We’re delighted to be hosting our first complimentary Business Leader Breakfast, where we’ll give you the tools to ensure you identify the right team for your business, and show you how to create a positive, productive culture, where everyone on your team is able to work at their best.
At the event, on 8th November, you’ll discover how to simplify how you hire, fire, review, reward and recognise people in your organisation. The process will prompt you to step back and look at your overall structure.
You may ask yourself some tough questions about the way your business is organised to clearly define the roles and responsibilities within your organisation.
The objective is help you to surround yourself with good people all rowing in the same direction working towards your vision.
The event is being hosted jointly by Julia Langkraehr, founder of Bold Clarity, and her fellow EOS implementer, Dean Breyley of Grow or Die.
The Business Leader Breakfast will take place between 8.30 and 11, on 8 November, at 1 Alfred Place, Bloomsbury, London, WC1E 7EB.
Click here to find out more, and to register for your complimentary place.
When it comes to building a successful company in any industry, you will need to overcome a number of challenges.
Having a strong leadership team in place is one of the key ways to be confident of your company’s long-term success.
Successful entrepreneurs like starting businesses. They like coming up with a great concept. They like doing deals. They like negotiating.
And they like seeing their businesses grow.
And these qualities make them a business’ biggest asset.