Is your business stagnating? Do you seem to be experiencing plateauing profits and trouble hiring the right people? Or are you wondering how you will be able to sustain the growth you are having without going crazy or working endless hours as the owner? The book Traction, by author Gino Wickman might offer you a life preserver and a “Traction Coach” might be exactly what you need.
Traction and EOS
I had a Jacksonville client come back from an industry (pest control) conference and ask me if I had ever read Traction or heard about the EOS framework. I shared that it vaguely sounded familiar, but I don’t think I ever read the book.
She shared that many of her colleagues were raving about how much it was helping their business and helping their sanity along the way. After talking with a few of them she realized that many of the same things we were working on in our small business coaching were the business issues these colleagues were talking about with EOS/ Traction – vision, organizational charts, weekly meetings, 90 day priorities, measuring data, etc.
She asked if I would be their “Traction Coach”. I told her I’d take a look. After a quick search I realized I had been on their mailing list for the last 5 years, with very few opened emails. I looked at their website and re-familiarized myself with what may have interested me in the book in the first place. My client was right. Much of the focus of Traction aligned with what I teach my clients. The biggest difference was the target audience. I will explain that a bit later.
The book “Traction” was originally published in 2007 in the United States. In 10 chapters, the author Gino Wickman lays out the method he developed, the “Entrepreneurial Operating System” (EOS). This system is composed of six fundamental components, explained in depth in the book.
The goal of the system is to provide a guideline for leaders who want to improve their bottom line and take control of their business. Wickman, also, provides several examples of clients of his company who followed his Entrepreneur Operating System.
The first thing Traction does is establish a framework or system to run your business. Every business has a system, but it may not be a healthy one or effective one, but it is there. I’ve also found that most business owners cannot clearly define their system. EOS not only gives it a clear structure, but also establishes a common language to be able to communicate with.
Next EOS provides useful tools to implement to help create structure and accountability throughout the business. These tools help create the “traction”.
Finally, Traction helps create a simple, yet clear vision for the business. By following their guidance a business can create a simple 1 page business plan (V/TO) that is easy to communicate to the entire team, will work as a vital tool for running the business and provide guidance in decision making each day.
6 Components of Traction
The EOS Model® which encourages entrepreneurs to grow their business with a focus on six principles in their business model: vision, people, data, issues, process, traction
Develop a compelling vision for your organization and help people to see it. When everyone’s aligned in the same direction, it creates a laser-sharp focus that propels you forward. This Vision is centered around your core values.
The main idea here is to get the right people right seat. This starts with identifying what the “right people” means and how to hire them.
Key metrics and data in order to provide ongoing vital health checks, predict, strategize and grow your business
EOS® provides a clear method to address and solve problems in the business. By Identifying the problem or issue, discussing it to get at the root of the problem or issue and finally creating the actions needed to solve the issue; business leaders are able to have a clear method of overcoming most challenges growing businesses encounter.
Defining the core systems and processes that run your business and ensuring compliance by everyone on your team. Define and document your unique way of doing things, so it can be consistently applied and refined, giving you the option to duplicate, scale, maintain
Tools to maintain and bring your vision to life, you need to execute your plans and sustain the momentum. Instill discipline and accountability with 2 key components: Rocks and Meeting Pulse™
Implementing Traction or EOS in Your Small Business
First EOS says The EOS® Model is ideal for small to mid sized companies with $2-$50 million revenues and 10-250 employees. Remember when I mentioned earlier that we focus on different target markets? Well I primarily work with small businesses that have less than 10 employees and often do not have even $1 million in revenues. The thing is, even those smaller businesses can benefit from the tools and EOS® framework.
So Traction and EOS may not be right yet for your business, but it will definitely give you some great tools to begin to build your business on. would you benefit from Traction Coaching or your own Traction Coach? Maybe.
How am I helping small business clients use Traction and the EOS® framework?
Using the books Traction and Get a Grip as a guide-map I have been helping small businesses implement EOS® in their business. I help them learn the tools, establish their VTO and facilitate their some vision planning for their business. We begin identify their leadership team, identify and document their processes and begin to implement regular meetings with their team to improve communication.