Achieving Business Growth with EOS

Oct 27, 2023 | Listen

Achieving Business Growth with EOS

When growing a business, there are hurdles to clear, processes to streamline, and strategies to align. And in today’s competitive landscape, achieving these goals is becoming more challenging than ever. That’s where EOS comes in.

What is EOS?

EOS, or the Entrepreneurial Operating System, is a complete system or framework that helps businesses achieve their goals by getting everyone in the company on the same page.

The Importance of Team Alignment

This is crucial because companies with a responsible team working well together are always more profitable and financially stable. However, not every company can grow a strong team that is cohesive, collaborative, and, most importantly, accountable.

Fostering an Entrepreneurial Mindset with EOS

By implementing EOS, every team member is encouraged to have an “entrepreneur” mindset, with everyone aligned on the big-picture plans of the company.  The hope is that this will drive the company forward when everyone has the bigger picture or the end goal in sight.

But how exactly does EOS achieve this? What’s the method behind it? What does it involve, and how can you introduce it to your company? 

Rebecca Finken: Professional EOS Implementer

In this episode, we’re joined by Rebecca Finken for an in-depth exploration of EOS. We discuss its definition, advantages, how it works, and how it fosters business growth. She will also share practical steps for adopting the EOS system effectively in your business.



Timestamps for this week’s episode

04:36  What is EOS

06:29 EOS Implementation Steps and Process

10:34 How to Implement EOS for Business Growth

23:20  Measuring Employee Accountability with EOS

36:41 The next actionable step to take in the next week or 2 to implement EOS

36:41 The next actionable step to take in the next week or 2 to implement EOS


What is EOS?

EOS, which stands for Entrepreneurial Operating System, is a framework designed to enhance organizations across three key aspects: Vision, Traction, and Health. 

Its core purpose is total team alignment so everyone in your business shares the same vision while fostering discipline, accountability, and collaboration. 

The system caters to the leadership teams in all business departments, including accounting, marketing, IT, HR, and especially what it calls the “Integrator” (COO) and the “Visionary” (CEO). 

Many companies will enjoy the benefits of EOS because it cultivates a transparent and open environment that leads to business success.  

The EOS approach also empowers businesses in various industries to thrive, regardless of size, as they work in sync and together towards common goals.

Healthy organization is liking the people that you're around every day and having fun and being able to collaborate successfully with a positive outcome.

EOS Implementation Steps and Process

Implementing the EOS framework follows a structured step-by-step process designed to enhance your organization. 

  1. Introduction Meeting (90 minutes)
    • Learn about EOS and how it helps businesses.
    • The EOS integrator will ensure mutual understanding between the employees and themselves.
    • They share the tools they will be using to help implement the system.

  1. Initial Assessment and Alignment
    • Check if EOS is a good fit for your organization.
    • Check if your organization/team and the EOS integrator are a good fit to work together.

  1. The 90-Day Process

When steps 1 and 2 are established, and both parties agree, the EOS 90-day journey begins, which will be marked by distinct milestones.

  • Focus Day:
    • Learn the 5 foundational tools of EOS.
    • Talk about challenges and ways to start improving.

  • Vision Building Day 1
    • Plan your organization’s future vision.
    • Define your company vision, values, strategies, and long-term goals.

  • Vision Building Day 2:
    • Finish your vision plan.
    • Identify issues and set short-term goals.
    • Learn how to have productive meetings.

  1. Initiation Phase
    • Have a clear vision and action plan.
    • Improve how your team solves problems.

  1. Ongoing Collaboration
    • Keep growing with quarterly and yearly check-ins.
    • Adapt as your organization changes.
    • Stay healthy and effective as a team.

“When you start instilling accountability, it becomes clear when someone’s not going to be a right fit…If they resist accountability or like that free-for-all feeling, they tend to weed themselves out.” — Rebecca Finken

How EOS Helps Achieve Business Growth

EOS provides solutions for companies that find themselves stuck or plateauing at a certain level of growth.

Rebecca shared the story of an entrepreneur who had to deal with the fallout from his own limited capacity. Yes, his business was growing, but his small team stagnated, which blocked further expansion. 

By implementing EOS, he discovered the power of “delegation and elevation”. He identified tasks he loved and was really good at, and the rest, he farmed out strategically to his team. He then reclaimed his “visionary” role, allowing the company to continue its growth trajectory.

With EOS, roles were redefined, and his team discovered newfound potential within themselves. His business soared, growing from a solo venture to a team of four, doubling in size within two years. 

This real-world success story illustrates how the focused strategies built into EOS can restart growth and innovation in any company. 

Ultimately what this looks like is everybody in the whole organization has a number that they're accountable for, for helping you, the leader, reach your vision.

Measuring Employee Accountability with EOS

EOS makes sure everyone in the company is pulling their weight. 

Take a janitorial company with 250 janitors, for example. 

The EOS Accountability Framework will track numbers that show good work, like being on time for 12 days straight or wearing uniforms daily. 

These KPIs or measurable milestones will look different per department: 

  • For the Accounting Team, you might measure the number of filed tax returns and new client sign-ups or check how much they have grown their client list.
  • On the other hand, the HR Team’s numbers could include responses to job ads, how many successful new hires, and how long people stick around.
  • To further break this down, the business leaders, department heads or management teams will decide what numbers matter most. The starting point will always be where you want your business to be in five years and then work backward to determine what needs to happen each year to get closer to this goal. It’s similar to planning a road trip. 

EOS also has a “Scorecard” tool that will help you track your progress over the next 13 weeks. You’ll immediately see if something’s off, and your integrator can help you fix it. These numbers will then live in a live document that will change as the company grows. 

Measuring accountability focuses on what counts and ensures everyone works towards the same goal.

“What do we need to measure? Because what gets measured gets done.” — Rebecca Finken

Actionable Step

  • Check eosworldwide.com for tools and request an implementer based on your region.

  • Set up a 90-minute meeting to determine if an implementer suits your needs.

  • Discover insights in the Traction Library’s seven books, catering to different groups.

  • Dive into books like “Rocket Fuel” for visionary-integrator dynamics and “Process” for streamlined efficiency.

  • Learn more about the six components of the EOS model: Vision, People, Data, Issues, Process, and Traction.

Elevating Your Business with EOS | Summary

  • The core purpose of EOS (Entrepreneurial Operating System) is to align teams, enhance accountability, and drive collaborative success through a shared vision.

  • EOS implementation follows a structured process, aligning teams through the introduction, assessment, a 90-day journey with milestones, initiation, ongoing collaboration, and adapting for sustained growth.

  • EOS revitalizes companies stuck in growth plateaus by harnessing ‘delegation and elevation’, as exemplified by a real success story of role redefinition and doubled team size within two years.

  • EOS aligns efforts by tracking KPIs tailored to each department, fostering accountability and shared goals.

  • If you’re ready to implement EOS, visit eosworldwide.com, schedule a 90-minute meeting, explore the Traction Library, and delve into EOS model components for a successful start.

Transcript

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About guest – Rebecca Finken

Professional EOS Implementer

EOS Worldwide

Rebecca Finken is a Professional EOS Implementer with EOS Worldwide, boasting nearly 30 years of experience as an entrepreneur. She resides in both Las Vegas and Prescott Arizona. 

In 1994, Rebecca and her husband embarked on their entrepreneurial journey by establishing a Commercial Janitorial business in Las Vegas. Like many entrepreneurs, they encountered both successes and challenges, and in 2008, they faced the possibility of losing their business. 

However, their fortunes changed in 2019 when Rebecca’s husband attended a Vistage group where he heard an EOS Implementer speak about the Entrepreneurial Operating System (EOS) and the book “Traction” authored by Gino Wickman. Upon his return, he expressed newfound enthusiasm, something he hadn’t felt in a decade. 

The couple wasted no time in adopting the EOS tools, which resulted in their most successful year to date in 2020, with a notable increase of $1 million in their bottom line. Rebecca takes great pride in her role as their Implementer and has been instrumental in sustaining their momentum for over three years. Her client base spans across Arizona, Nevada, and Colorado, and she is willing to travel to serve them. 

Beyond her professional endeavors, Rebecca finds joy in various activities. She has a profound love for hiking, paddleboarding, traveling, and cooking. Additionally, she actively participates in the Yavapai Big Brothers Big Sisters organization, where she previously served as the board chair and currently volunteers as a Big Sister to two girls, a commitment she has maintained for the past 14 years. 

One of her Little Sisters, Abi, who is 11 years old, shares Rebecca’s passion for travel, making them an ideal match. Together, they engage in paddleboarding, hiking, and indoor rock climbing, creating lasting memories while fostering Abi’s personal growth.

Website: https://eosworldwide.com/rebecca-finken

LinkedIn: https://www.linkedin.com/in/rebecca-finken-1891a6192/

Other resources mentioned in the episode:
Gino Wickman: Traction


About host – Kathy Svetina

Kathy Svetina is a Fractional CFO for growing small businesses with $10M+ in annual revenue.

Clients hire her when they’re unsure about what’s going on in their finances, are stressed out by making financial decisions, or need to structure their finances to keep up with their growth.

She solves their nagging money mysteries and builds a financial structure with a tailored financial strategy. That way they can grow in a financially healthy and sustainable way.

Kathy is based in Chicago, IL and works with clients all over the US.

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