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Traction Inc.

20 Mar The EOS Process: 6 Keys Steps to Establishing the Right Business Model

Posted at 12:40:23 by Chris Hallberg

EOS System Traction Inc

Doing business without a good business model in place is like trying to make your way through a jungle without having any path or compass. You might have a destination in mind, but you don’t have the tools or direction that will allow you to get there. The EOS business model is holistic, encompassing all the aspects that you need in order to clear an open path to success. The following six points are the keys to establishing this model:

Vision

This component defines your destination and makes sure everyone on your team is clear on what that destination is. After all, you can’t get started on a journey if you don’t know where you’re going. In order to bring everyone together around a unified vision, there are 8 straightforward questions that the leadership team needs to answer. Once these are answered, then the team will share this vision with the organization as a whole.

Data

This component refers to the fact that you don’t manage your business by using fuzzy metrics. In the EOS process, you pick out just five numbers that can be reviewed weekly, as a measure of your progress. If you’re not sure of which metrics are most relevant, EOS has suggestions for you. Then you pick the person or people who will be accountable for putting these metrics on a spreadsheet and you track their progress over time to create a Scorecard. This shows you where adjustments are needed and facilitates nimble responses.

Process

This component is about consistency. List the six to ten processes that your business engages in ( for example: HR, marketing, customer care, etc.) and create accessible documentation that covers the basic steps within each process. When processes are systematized, all staff people can be trained to follow them in a consistent manner and the organization acquires new scalability.

Traction

Think of climbing an icy hill: You aren’t going to make any progress if your feet keep slipping. Gaining traction means digging in, so that every small step represents measurable forward motion. For traction within an organization, you have to narrow your focus down to individual steps. EOS defines these steps as 90-day segments, and trains your leadership team to set priorities and evaluate progress within the context of these individual time periods.

Issues

Every organization has issues or problems that aries; they’re the thorns and brambles along the pathway. Some are more important than others, so your leadership team is responsible for saying what they are and prioritizing them. Once the priorities are established and the root causes are acknowledged, then you’ll make an Issues Solving Track to resolve them in the appropriate order.

People

Your organization doesn’t exist separately from the people within it. Once you define your core values, you use them as a basis for personnel decisions, so that every person within the company is aligned with the same values. The next step is to build an Accountability Chart, to make sure that everyone knows what they’re supposed to do and is ready to do it.

The task of building a strong business model may seem overwhelming at first, but all you have to do is just pick one key component at a time and move forward with it. EOS provides a top-to-bottom business system, with the all the tools and mileposts you need to achieve success.

Business Coaching How to Grow a Successful Business

Topics: EOS, Business Coaching