07 Jun Vision or Hallucination?
Six years into my journey as an entrepreneur, I recognized there was an opportunity to sell my business and create a positive financial impact for my employees and my family. My hypothesis was if we could grow our revenues by four times, and show a meaningful profit, we would increase the pool of interested purchasers and maximize value.
To achieve this vision I needed the full commitment and buy-in from the entire team, and I laid out a simple and clear vision to get us there.
I coined the vision “fifteen-cubed”, representing our goal to grow to $15M in revenue, 15% EBITDA, and the employees would share in 15% of the upside. Simple to remember and rally the team? Yes. Simple to achieve? After making little progress toward this vision in 18 months, I realized the hard way that the answer was, No. But it didn’t have to be that way.
When I was introduced to EOS, the Entrepreneurial Operating System™, I realized where I went wrong. While I had intended to set a clear vision, what I had actually done was clearly described the measurables for where we were headed. Unfortunately, my plan to get there was paper thin and I had few tools in place to safely arrive there. I was good at describing the destination for our journey, just not so great getting traction toward it (executing on the vision).
Another way of describing this:
Vision without (-) Traction = Hallucination
In retrospect, hallucinate is what I did. And there are surely many other businesses that suffer from the same syndrome.
I now have the fortune of helping entrepreneurial leadership teams get what they want out of their business. It should be of no surprise that two of the six key components that we seek to strengthen together are, wait, wait for it,… “Vision” and “Traction”.
In future articles I will expand on the topic of achieving vision, I’ll share the simple EOS tools and disciplines my clients implement, so you too can take the step forward in achieving what you want from your business.
- Download a free electronic copy of the first Chapter of Traction (the book the describes EOS)
- Purchase a Copy of the book “Traction“
- Request a Free 30 Minute Discovery Meeting from Josh Holtzman
About Josh Holtzman
Josh Holtzman is an entrepreneur and business coach (founder of Chute CXO) 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.