EVENT RECAP: "GET A GRIP! AND GET WHAT YOU WANT OUT OF YOUR BUSINESS!"
Most entrepreneurs struggle to work “on” their business instead of “in” it. They don’t often get the opportunity to take a step back and look at their business under a different lens.
On February 12, entrepreneurs had a chance to do just that. During an interactive workshop hosted by Gerber and presented by Professional EOS Implementer Rebecca Lockwood, they learned about the EOS Model, the EOS Process, and the real-world, practical tools that can help their business today.
If you were unable to attend the workshop, no worries. Here’s what you missed:
The EOS Model
The EOS Model is broken down into six key components; each one includes valuable tools that strengthen each component. Most companies run only 20% strong in one or more components, succeeding in spite of themselves. EOS’s goal is to achieve at least 80% strong in all of the areas.
The six components are:
Achieving a company’s Vision involves getting the leadership team on the exact same page in the following eight areas of the Vision/Traction Organizer:
- Core Values – what your company stands for
- Core Focus – your company’s sweet spot
- 10-Year Target – your big, hairy, audacious goals (BHAG)
- Marketing Strategy – your target market, 3 uniques, proven process and guarantee
- 3-Year Picture – what your company’s revenue and profit will look like in three years
- 1-Year Plan – your top 3-7 priorities for the year
- Rocks – your most important goals for the next 90-days
- Issues List – a parking lot for company-wide issues
The structure of a company must be built first, followed by hiring the right people who exhibit the culture of your company. This can be accomplished with two EOS tools:
- The Accountability Chart – defines the basic functions of your company, and the five major tasks these positions are accountable for.
- The People Analyzer tool – used to determine if a team member gets it, wants it, and has the capacity to do the job.
After you’ve completed the tools, you need to ensure you have the right people in the right seats in the company.
It’s important to run your company on facts, not objective information. This happens by determining the 5-15 high-level numbers that provide you with real-time information about your company. These measurables should be placed on your Company Scorecard and assigned to a leadership team member so issues can be identified and dealt with as they arise.
Your company should support a culture where team members are comfortable verbalizing company issues and adding them to an Issues List. Then the team can Identify, Discuss and Solve (IDS) the issues.
Your documented company processes need to be simple, consistent and scalable. Follow the 80/20 Rule: document 20% of the processes that get you 80% of the way there.
The Traction component executes the Vision through a meeting pulse that occurs weekly and quarterly. The meetings begin at the same time, start and end on time, and have the same agenda. They should review the progress of all tools in all components. They are called “Level 10 Meetings” because each team member rates the meeting on a scale from 1-10, so leadership knows how to improve future meetings.
The EOS Model and its 26 tools can help you “Get a Grip” on your business. Do you have questions about the EOS process, this presentation or how it can help you get what you want out of your business? If so, please reach out!