Getting Traction in Today’s Economy

According to Gino Wickman, a former founding member of EO Detroit, entrepreneurs cannot build a great organization on multiple operating systems. They must choose one.

An entrepreneur since the age of 21, Wickman, author of Traction: Get a Grip on Your Business, refined his real-world business experiences into The Entrepreneurial Operating System™ (EOS), a practical method for helping companies clarify, simplify and achieve their vision. The system is built around the idea that every issue goes back to one of the six fundamental components— People, Vision, Data, Issues, Process and Traction.

Throughout his experiences, Wickman has determined that the key to success is to organize all the moving parts of a business and focus all available energy and resources in one unified direction. As a result, chaos will be replaced by clarity and simplicity, producing valuable traction. With increased focus, day-to-day operations become more controlled, cash flow improves, nagging issues are finally resolved and the organization can move forward together as a cohesive team.

Since the business landscape has dramatically changed in recent months, there are several key questions Wickman advises his peers to consider when it comes to getting a strong “grip” on their business. These questions include :

  • Is the company’s vision clear and shared by everyone in the organization?
  • Does the leadership know how to determine if each person in the organization is the right person in the right seat?
  • Does the owner have a pulse on the business and the ability to predict future results through a handful of numbers?
  • Are all issues resolved quickly and correctly at all levels in the organization?
  • Is the business systematized to easily handle growth and expansion?
  • Is there a high level of accountability, discipline and execution at all levels in the organization?

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Categories: FINANCES


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