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Get a grip on your business
As a CEO, your job is about providing clarity and vision. Ensuring that vision becomes a reality involves leadership, where you empower your team to make it happen in the best way they know how.
The trouble is in reality, all businesses have issues, whether it’s a lack of control, people not listening/understanding/following actions, there’s not enough profit, growth has stopped, nothing seems to be working and now your staff are growing skeptical of new initiatives. It’s these issues that interrupt business-as-usual activity, delay your plans for growth and stop you creating that vision.
The Entrepreneurial Operating System® (EOS) is documented in a wonderful book called “Traction®” by Gino Wickman. It’s a book that holds great significance to us because it’s the book that Alister grew, and eventually managed to sell his previous business by. It’s also the book we now run our business by at Process Bliss.
The book builds on the premise that you want a business that is strong and well-run so that you can take it to the next level.
To do this, you need to overcome your business issues by implementing a set of tools, which together comprise the EOS. A holistic, self-sustaining system, it addresses the Six Key Components™ of your business.
The Six Key Components are:
1. Vision: successful business owners get everyone in their organisation seeing the same clear image of where the business is going and how it will get there.
2. People: identify those who share your core values, and simplify how you hire, fire, review and reward them.
3. Data: learn the key metrics to focus on, so that on a weekly basis you can predict future developments and quickly identify when things have fallen off track.
4. Issues: tackle them head on and create an open organisation where there is nowhere to hide – you’ll smoke out the issues that have been holding you back.
5. Process: the blueprint for your organisation it documents your ‘way’ of doing business. Implemented properly, it can enhance your troubleshooting abilities, reduce your errors, improve efficiency and increase your bottom line.
6. Traction: you need rocks – the things that have to be done no matter what if you’re to achieve the vision. And a weekly meeting, to ensure you’re on track and hold people to account.
How does Traction make the difference?
By following the EOS detailed in Traction, you’ll reduce needless complexity, troubleshoot any problems, keep you and your people engaged, and ultimately focused on a single vision. It’s a procedural way of working that makes you a truly agile organisation. Now you can make quicker decisions to change people, strategy, systems and processes where necessary, in order to drive your business forward.
It’s really simple. This is how we do it:
Every Tuesday at 09:30 our team gets together in the meeting room. We display our process on the screen, completing each step and ticking it off as we go.
Certain steps include links to our spreadsheet where we document everything. (The above agenda is credit of EOS).
7-day issues list
Anyone in the business can raise an issue, which is then discussed at the meeting. First we ask clarifying questions so we all have a common understanding of what the issue is. Then we all put forward suggestions for overcoming it. Actions are then decided and added to the actions list, and the issue is closed.
You’ll see that everything is timely; issues and actions must be performed within the week and we record when it was resolved. We also assign it to an individual, who is responsible for completing the actions, and who is held to account at the following week’s meeting.
Every meeting has a strict 1.5 hour time limit, which we always stick to. Everyone has their say. And our business runs better because of it.