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What is eos & is it right for my business?

MINNESOTA BUSINESS OWNERS ARE PASSIONATE ABOUT EOS

I learned today that Minnesota is a hotbed for EOS (Entrepreneurial Operation System). Over 2000 Minnesota businesses have implemented EOS and that demand has caused a jump in the number of EOS certified implementer coaches in Minnesota to over 60. Businesses who have implemented it the right way (using an outside certified implementer) are very passionate about it and the results EOS has brought to their culture, vision, growth and bottom line.

WHAT IS EOS?

Gino Wickman, a second-generation executive at his family's Michigan business developed the "complete set of simple concepts and practical tools that help entrepreneurs get what they want from their business." It works because it is built for busy entrepreneurs, it helps the business "cure the whole body", not just treat symptoms, and it brings focus, discipline and accountability to the organization. Once implemented, businesses will be more strategic about growing the business instead of putting out fires. EOS focuses around Six Key Components™ of the business - Vision, People Data, Issues, Process and Traction. In his book In Traction: Get A Grip On Your Business, Gino Wickman provides the foundation of EOS and EOS Worlwide's website provides the building blocks.

 WHO IS EOS FOR?

EOS works best for businesses between ten and 250 employees. Although micro businesses don't initially need the methodology, certified implementers say if your business is on a growth path you should set the foundation early. Larger companies may be too bureaucratic to be able to roll EOS out efficiently.  

As noted in Brian Martucci's article in the December issue of Twin Cities Business, "Family businesses, so often hampered by mediocre or ill-suited leaders and infighting among principals related by blood or marriage, are ripe for EOS, which starts by 'getting the right people in the right seats.'"

Moreover, as Jaime Taets, CEO of Keystone Group warns, when implementing EOS, dysfunction comes out. It's going to bring up the good, the bad and the ugly and you have to be prepared for it. All leadership from the Owner to the CEO to mid level executives must be 100% on board in order for it to work. Owners must let their ego drop and be ready to empower their team to become accountable decision makers.

HOW TO START?

You have to ask yourself if you are coach-able, understand that using the system will help your business, and be open to an outsider's perspective. Business owners who have implemented EOS recommend finding a certified and experienced EOS implementer coach with strong references. The best implementers have a strong work ethic, are in high demand and are passionate about what they do.

BENEFITS ACCORDING TO MINNESOTA BUSINESSES:

Luke Kerheim, Operations Director, Craft & Crew Hospitality

"Our biggest surprise was the cultural improvement EOS brought and that working as a team allows staff to buy-in. Our profitability went up three times."

Tony Wand, President and CEO HM Cragg

"The level of accountability that gets built in to your business is game changing. People are assigned To Do's or ROCKS which are three things they are responsible for in the next 90 days. They can't run and hide. Also the efficiency with which new ideas or issues are handled by adding them to the IDS (Identify, Discuss, Solve) at the Level 10 meetings helps us stay on track. Traction has enabled us to build out five year strategic plans for each of our business units."

Dave Hoeffel, Owner, Edurance Technologies

"People started to get it that they are responsible and started to take control of issues which changed my life. Prior to Traction I never would have taken [steps necessary] to to fill the seat of an exiting key player a year in advance. Now we are ahead of the game with the candidate of our choice."

Jaime Taets, CEO Keystone Group International

"Businesses typically hold a strategic planning session once per year and in a few months the business is running over them again but with Traction, the cadence of the meetings (Annual, Quarterly and Weekly) changes the rhythm of how business is done allowing the team to get four times more done in the same amount of time. Traction helps businesses get clear on what they should be doing. Example - one business we worked with went from eleven million in back log to sixty million in just one year and that was their previous annual revenue!"

NEXT STEPS

  1. Read the book! In Traction: Get A Grip On Your Business
  2. Reach out to a local certified EOS implementer and check their references
  3. Check out all the available resources at eosworlwide.com

 

Lauren Altschuler
Lauren Altschuler
I assist buyers and sellers of privately held businesses in the buying and selling process. We help value your business for the best price, advertise it confidentially to qualified buyers, handle buyer interviews, discussions, negotiations and facilitate the due diligence investigation and the sale of the business.

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