Using the EOS to Achieve Strategic and Financial Clarity
One of the foundational elements of my Financial Intelligence Framework is the development of a charted course that a company can rely on to support their growth. As the name implies, the “framework” is the foundation that provides a clear picture of a company’s current position, and then optimizes financials to grow the business – as well as the owner’s personal wealth.
Part of this foundational work is the development and implementation of a reliable system to achieve strategic and financial clarity.
I like Gino Wickman’s Entrepreneurial Operating SystemTM (EOS), detailed in his book, Traction – Get a Grip on Your Business. Together, the business owner and I use this system and its tools to help their company get clear about their blueprint for success by creating a strategy and identifying and implementing actionable goals to achieve it.
The EOS provides a simplified, yet wholistic, approach to business success that breaks goals down into 90-day increments and focuses on “rocks” – clear, 90-day priorities that keep businesses aligned with their vision and strategy. Coupled with the Vision/Traction Organizer™ (V/TO), this powerful tool helps simplify the strategic planning process, gets your vision on paper by answering specific questions, and clarifies where your organization is going and how you will get there.
Busy entrepreneurs and business leaders I work with often find that their focus can become fragmented and spread thin. While attempting to attend to myriad aspects of the business, decisions are either not being made or once made, are not properly implemented. The clarity provided by a solid framework is priceless, giving leaders a clear plan and tangible action items that will:
- Unfold their vision and give the company clear objectives
- Get everyone in the company moving in the same direction
- Create structure for consistently setting and achieving important goals
- Ensure that a steady eye is kept on the company’s financial and operational issues
Creating the proper systems puts owners in control of their financial destiny. With those systems in place, owners have a crystal-clear picture of their current financial position and understand what it will take to meet goals for growth and scalability, and even the owner’s eventual exit from the company.
Besides providing focus and helping the company grow, the EOS and V/TO can help:
- Uncover gaps and an understanding of when and where help is needed
- Streamline the onboarding of new employees by quickly educating them about the company and easily integrating them into its culture
- Stay on track to meet financial objectives
I’ve worked with companies that had already implemented EOS, which provides an even faster path for strategic and financial success. With a structure in place and clarity around their visions and goals, these companies are equipped to make big decisions and confidently move forward to achieve their growth objectives. For example, one of my clients recently discovered through their EOS that they had a gap in marketing and made the decision to bring in an agency to develop a marketing plan. The team was able to focus on marketing, rather than first wading through business issues which, with the EOS in place, had already been addressed.
Business owners can break the cycle of falling into the trap of a fragmented focus on 100 different things. By going back to the basics, creating clarity of focus, and developing and tracking 90-day goals, companies can see steady progress and move confidently towards the achievement of financial goals. I’d welcome the opportunity to review your structure and help you implement these tried and proven systems that empower you to achieve traction in your business.