This is why you need an operating system for your business.
“Running a business without an operating system is like driving a Porsche on the rims.
You’re driving along and you know it could be a smoother, faster, easier ride, but you just don’t know what to do.
If there was a real-world proven way to get that smoother ride, why would you try to reinvent the wheel?
I believe all companies should run on an operating system. the one I have chosen to offer is EOS.”
The Institute of Leadership and Management has accredited the Entrepreneurial Operating System, provided by Bold Clarity, as a Development programme.
ILM is Europe’s premier organisation for business leadership development so by having our leadership courses accredited, Bold Clarity joins over 2,500 providers offering high quality, bespoke leadership and management training.
Growing businesses which want to scale have a lot of competing priorities. There is a lot going on with endless lists of to dos.
Imagine spinning plates on the end of a stick, with the MD and the leadership team running from plate to plate, trying to keep them all spinning, while other people in the organisation don’t know how to contribute.
Sometimes it feels like everything is a priority and there are not enough days and hours in the week to complete them all.
Just when you feel like you have accomplished a major to do, something in IT crashes and you have lost a day’s work.
Are you flying your business blind or do you use data to manage it? Do you have a handful of numbers that tell you at a glance how your business is doing?
Some people use monthly financial documents, profit and loss statements (P & L) to manage their business, which is a trailing indicator and after the fact. With a scorecard you can manage the future.
1. What is a scorecard?
A scorecard measures activity based weekly numbers for each team member. These might include: weekly revenue, closed business, customer satisfaction, capacity, sales meetings or cash in the bank.
If you ask people what they think about meetings, some would say they start late or run over, they are inefficient, nothing is ever agreed and sometimes they waste the company’s time. They need is to know how to run a good meeting.
The problem isn’t that we schedule meetings in the first place, it’s how we run them. Most companies tell me their meetings are just not productive.
But they don’t have to be like this.
Meetings can be a good forum for healthy conflict and lively debate, a time to crowdsource the best ideas, build consensus and agreement, and move the company forward with solutions.
I love this EOS video explaining the benefits of implementing the system in your business.
In includes an interview with the founder of the Entrepreneurial Operating System, Gino Wickman and who talks about his entrepreneurial journey and with the founder of Sachse Construction who has implemented the system into his business.
It is featured on the Microsoft’s Entrepreneurial Youtube Channel.
Watch the EOS video here, and let me know what you think!
If you’ve been inspired by this EOS video, and would like to introduce these practical tools into your business please get in touch to discuss your needs.
Imagine a business where any issue which crops up is solved by your team working together.
Imagine a business where every member of the team is clear about their role and responsibilities.
Imagine a business where you know precisely what everyone is doing and what they are achieving because there is a system in place that shows you.
Imagine a business where every person on the team is working towards your shared vision.
People are your most valuable business resource.
You can have the best idea, product or service; you can be well funded, have great cash flow and be positioned in the right market, however if you don’t have the right people, you’re won’t make your vision come true.
Your people need to match your core values, have the right skills and have the right attitude.
In order to make sure you’ve got the right people in the right seats, you need the right structure for your business.
A fundamental tool of The Entrepreneurial Operating System™ (EOS) is have an Accountability Chart.
You have a great business, great market share and good cash flow.
But if you don’t have the right people, in the right seats, you won’t be successful.
You can’t have a good business without good people, whether they are your employees or outsourced.
And if your vision for your business is not shared by your team, it will take longer to achieve that vision – and you risk it not happening.
To avoid this, you need a system and process that everyone follows.
I have hundreds of business books on my shelf. This one stands out.
My friend Todd gave me a copy three years ago and it stayed with me because it was so simple and easy.
This book is ideal for entrepreneurs and someone who runs a privately held business and has hit the ceiling.
The author Gino Wickman quotes five common frustrations:
There is a lot going on in a business. If you’re a leader, manager or entrepreneur, managing your business means you’re wrestling with 136 issues at the same time.
The degree to which you can solve your problems is directly related to your success.
EOS, the Entrepreneurial Operating System®, addresses the issues you face in your business. The degree to which you can simplify and strengthen The Six Key Components™ of your business allows those 136 things to fall into place as they are symptoms of the root cause.