If you are an entrepreneur or small business owner, you’ll no doubt have come across some hurdles. Maybe you have a lack of control, problems with your staff, or are constantly frustrated that none of your processes seem to be working out. Without a proper management system in place, all of these obstacles can mean that your business is running you, rather than you running your business effectively.
As covered in his book “Traction”, Gino Wickman details a complete management process to strengthen the following Six Key Components of any business:
From start to finish, the steps detailed in the book go through all of the important things you need to do from the management and leadership level of your business. Gino Wickman talks about how to set your vision, how to hire and retain the right people for your business, dealing with issues and setting accountability.
If you don’t have time to read the book, don’t worry, as this article outlines all of the steps so that you can get on your way to creating a winning management system.
To get your business-plan-on-a-page, use the V/TO (Vision Traction Organiser) tool – ask yourself 8 questions:
1. What are your core values?
2. What is our core focus?
3. What is our 10-year target?
4. What is our Marketing Strategy?
5. What is the 3-year picture?
6. What is the 1-year plan?
7. What are our quarterly rocks?
8. What are our issues?
Ensure your team aligns with your values using The People Analyser tool (also use it as a recruiting tool).
Note! A “no” is a deal breaker, there must be a “yes” for the person to be the right fit for their role.
To analyse whether you’re on track to reach your goals, create a simple scorecard.
These are the six key areas of your business (vision, people, data, issues, process, and traction) must be optimised before everything can run and perform well because, without a clear structure in place, it will be very hard to scale your business.
Making changes may seem uncomfortable at first, but addressing your values and goals will set the base foundations and build the framework that everything else can grow on. Once you implement the system outlined above, you can build a team that not only believes in you and your vision but that you can rely on to keep the business operating smoothly while you achieve your goals.
Already showing his determination as a pre-teen by getting his first job at age 10, Daniel worked hard and went on to own his first business at the age of 21. He enjoyed the rewards that business success can bring, relishing in multiple fruitful ventures across several industries; at 26 years old he had four businesses with multi-million dollar revenues and 70 staff.
Unfortunately, Daniel made one critical error in business which cost him dearly both financially and personally and set him on a path looking for answers. What does it really take to create a great business?
Daniel’s passion for business became something of an obsession, starting his journey in the search for the best tools for business management and improvement, around the world. Sharing his new-found knowledge with fellow business leaders became a purpose-fueled enterprise.
After being introduced to the Entrepreneurial Operating System through the book Traction, Daniel quickly recognised the simplicity and power of EOS. He trained as a Certified EOS Implementer and worked hard to master the EOS model, tools, and process. Daniel now spends his time helping entrepreneurial leadership teams to clarify, simplify, and achieve their vision through EOS, and finds, trains, and support the growing community of Professional EOS Implementers in the APAC region.
Every entrepreneur knows to build a business that works without you – a business that…