08 May Introducing EOS – The Entrepreneurial Operating System
As I shared in the previous article, Introducing Chute CXO, I have had the fortune to grow a business from the ground-up and be involved in two exits. Through this journey, I learned many things, including the key to enabling our organization’s success – The Entrepreneurial Operating System® (EOS®). In this article I provide a high level introduction and overview of EOS.
EOS is a complete set of simple tools and disciplines that help entrepreneurial leadership teams get the most from their organization. Be it aggressive growth, improved cash flow, increased profitability, a more harmonious workplace, or the desire to sleep better at night, etc., every business has their own definition of what they want to achieve. EOS helps leadership teams reach their goals by achieving three things:
- Vision – Getting everyone in the organization 100% on the same page with where they are going, and how they plan to get there.
- Traction® – Instilling focus, discipline, and accountability throughout the company so that everyone executes on that vision—every day.
- Healthy – Helping leaders become a more cohesive, functional, healthy leadership team.
Thousands of small to mid-sized global businesses across a variety of industries realize their vision while operating with EOS (we call these companies “EOS companies”).
How Does EOS Work?
As entrepreneurial leaders, managers, etc., we are faced with hundreds of things (tasks, distractions, decisions, etc.) each day. The basic premise of EOS is that if we can strengthen six key components of our business, these hundreds of things just fall into place and we can focus on what matters. By strengthening the six key components of our business we are strengthening the foundation of our business rather than treating the symptoms. With a strong foundation, organizations can achieve amazing results!
What are the six key components that EOS aims to strengthen?
- Vision: The sun generates billions of megawatts of light and peacefully nurtures life on earth. However, focus a few watts of light on one point and you create a laser beam which can can slice through most anything. Focus amplifies power. By creating a common vision in your organization you create laser like focus, which enables your organization to accomplish amazing things.
- People: While a shared vision provides alignment within an organization, it is the people within your organization that make progress. To use an analogy made famous by Jim Collins, your organization needs “the right people on the bus, and in the right seats.”
- Data: Imagine a pilot flying through bad weather without instruments in the cockpit. She would be flying blind without data – a recipe for disaster. Many businesses do the same. Good hard data cuts through the subjective perspectives, personalities, and egos to provide an objective point of view to reflect, predict, and troubleshoot.
- Issues: The most successful people and businesses are just really good at solving problems. With a clear vision, the right people, and good hard data to measure your performance, issues can not hide. EOS provides tools to surface issues (and opportunities) and solve them.
- Process: For an organization to scale and continue to deliver predictable results, the organization must define repeatable processes – i.e., doing business the Company “X” way (insert name of your company).
- Traction: Simply put, vision is great and all, but if you do not gain traction toward that vision (i.e., progressing toward the realization of your vision), all is for naught.
EOS aims to strengthen all six of these components in your organization by providing simple tools and disciplines that create meaningful results. It is one of those “be careful what you wish for” systems, in that if you follow the process, you will most certainly receive what you have wished for. In my experience running a business with EOS, by strengthening our business and following the EOS process, we achieved or exceeded our targets every year! It was truly the key to our success.
In upcoming articles I will share more about the EOS tools, processes and first hand experiences about how companies are using EOS to achieve their unique visions.
- Download a free electronic copy of the first Chapter of Traction (the book the describes EOS)
- Purchase a Copy of Traction
- Request a Free 30 Minute Discovery Meeting from Josh Holtzman
About Josh Holtzman
Josh Holtzman is a successful entrepreneur and business coach based out of Los Angeles, CA.
Josh founded and grew a leading professional services firm, which he then sold to a national player, and together grew and sold the firm a second time to a global publicly traded IT services company.
Adopting EOS was a key turning point in Josh’s career as an entrepreneur. He is passionate about giving back to the entrepreneurial community by helping other entrepreneurial leaders strengthen their businesses using EOS.
If you would like to learn more about implementing EOS within your organization, contact Josh for a free discovery session.