EVENT RECAP: AN ENTREPRENEUR'S PLAYBOOK PART 1, "WHAT IS A BUSINESS OPERATING SYSTEM AND WHY YOU NEED ONE TO TRULY GROW WITH PURPOSE"
A playbook is a step-by-step guide on what you need to do to ultimately reach your goals.
But where’s the playbook when it comes to entrepreneurs? Many entrepreneurs feel like a start-up in every sense of the word, creating it all from scratch. But it doesn’t have to be that way.
On Wednesday, August 4, Rebecca Lockwood, Pinnacle Guide and former Certified EOS Implementer, sat down with entrepreneurs in the first of a three-part workshop series walking business owners through “An Entrepreneur’s Playbook,” outlining different practices that are key to help one’s business run at peak performance.
If you missed the webinar, no worries! You can read the recap below!
WHAT IS A BUSINESS OPERATING SYSTEM?
A business operating system is really about getting all of the people in your organization to be 100% aligned on the vision and the plan for your business. You want your entire team rowing in the same direction.
Not every business operating system is going to look the same, and it shouldn’t. You need a custom operating system that fits the needs for your organization. What is consistent is the principles that can help you form that successful operating system.
FOUR PRINCIPLES TO HELP YOU GROW YOUR BUSINESS WITH PURPOSE
A great business can’t be run without great people. Your employees should be excited to come to work and to feel aligned around a bigger purpose. This may mean that you have to take a look at whether your people are in the right seats in your organization or not.
Take a big picture approach of where the talent is in your organization, what each of their functions is, and who is accountable for those functions.
Why do we exist? Where are we headed? How can we get everyone in the organization aligned on this purpose? Rebecca says we have to lay out the vision and the overall strategy. Instead of asking, “how are we different?”, set yourselves apart completely from the competition, thus making your business truly unique.
Developing a concise strategic vision and execution plan will help get the leadership team aligned so everyone knows your business’s true north.
How can we get our vision and our purpose down on paper? This is where the playbook comes in.
Start with one year goals; then three to seven year goals. If you start with one year at a time, then you can begin to list the important things every quarter and begin chipping away at them. When everything is important, nothing is important, so this is a key part of your success.
This is also where you can also use core processes and things such as simplified checklists, which outlines for your employees the most important things that need to be consistent and scalable every time.
Oftentimes performance assessment can be an outcome in useful meetings. Use meetings, or “the weekly tactical,” to talk about your priorities, have a healthy debate and execution plan. If your current meetings aren’t doing those three things, then it’s not a great meeting.
Take a look at your scoreboard – are you winning the week? How are you doing for the quarter? Are you on track with your rocks? What are you doing this week to move your rocks forward?
Answer these questions and then use the rest of the meeting to discuss the big issues, challenges and priorities to ensure you don’t lose sight of those.
If you adhere to these four principles, you will see profit. James Clear said it best, “If you want better results, then forget about setting goals. Focus on your system instead. You do not rise to the level of your goals. You fall to the level of your systems. “
PEOPLE + PURPOSE + PLAYBOOK + PERFORMANCE = PROFIT
There’s still time to register for the next two free workshops in the series to help you run your business at peak performance!
Register for the workshop “Getting the Right People Doing the Right Things” taking place on Monday, September 13 at 10 AM, and/or the workshop on Monday, October 4 at 10 AM titled on “Process Takes the Pressure Off Your People.” You can join both in person or virtually. You’ll find the registration link for both workshops here.