Implementer Posts
How EOS Helps ESOP Companies Succeed
Companies with an ESOP (Employee Stock Ownership Plan) face challenges that are different from those of other business structures. As a defined contribution plan, it must satisfy the requirements set by the DOL and have a fiduciary obligation to protect and grow the shareholders’ value. Key to their success is effectively transitioning from a founder-led and focused organization to one run by a strong cohesive leadership team. To thrive, ESOPs need clear goals, strong teams, and accountability that support the trust and the employee-owners. The Entrepreneurial Operating System® (EOS®) helps companies achieve this. Clear Goals Bring Teams Together EOS is a proven system to help ESOPs define their vision, align their teams, and engage the employee-owners. It helps you build systems that reduce reliance on the founder and build a cohesive, functioning leadership team of employee-owners. Without clear goals, ESOP companies can lose focus. EOS uses the Vision/Traction Organizer (V/TO)
SMART Goals With a System vs. New Year’s Resolutions
The start of a new year is full of optimism. Many people resolve to make big changes, such as losing weight. I was one of them. In January 2023, I was overweight and determined to make a change—for about the third time in three years. For the first two months, I tried to lose weight on my own. I cut back on snacks, ate less, exercised sporadically, and hoped for the best. By March, I was down about 8 pounds, but my motivation had waned. Frustrated and discouraged, I realized I needed a better approach. That’s when I hired a fitness and nutrition coach. Over the next nine months, I lost 35 pounds and developed a new lifestyle. The difference? I had clear goals, accountability partners, and a system to keep me on track. Looking back, my experience mirrored the principles of SMART goals and the discipline of a system
Plan Ahead
The 3-Year Picture helps everyone in a business envision where they’re going (Iron Briefing, November 2024). Thomas Edison said, “Vision without execution is hallucination.” Execution starts with creating a plan. For companies running on EOS® the plan has two components: the 1-Year Plan and their 90-day goals, or Rocks. The 1-Year Plan for an entrepreneurial company must be simple and achievable. With “Less is more” as their mantra and the 3-Year Picture in mind, leadership teams of businesses running on EOS® create a plan with their predictions for revenue, profit, and a measurable coupled with three to seven goals for the year. Why no more than seven? Because those who take on more often achieve less. Keep it simple and write each goal to be specific, measurable, and achievable. Next, they create a plan for the next 90 days – what absolutely needs to get done in the upcoming quarter
From Burnout to Breakthrough: How EOS® Brings Order to Chaos
Burnout is no way to start the New Year. And yet, so many business leaders start out their year this way. Q4 is often a sprint to the finish line, and Q1 feels like you need to hit the ground running after the holidays. Burnout is caused by a feeling of spinning your wheels but getting nowhere in your business. Does this sound like you? A lot of business owners will be there at some point in their careers, but with the right tools, burnout can easily transform into breakthrough. In this blog, we’re going to get you energized for the year using proven tools that will help you get on track and gain Traction toward your goals. Now is the time to get your priorities straight and set the right benchmarks to measure your success. Defining Your Values The first piece of your vision (called the Vision/Traction Organizer or
A Proven System
I have read a lot of books on leadership and business. When I was in high school, I remember obsessing over John C. Maxwell’s books Developing the Leader Within You and The 21 Irrefutable Laws of Leadership. My goal was to be a sponge and soak up as much knowledge as possible. I took notes feverishly. I tried memorizing key points. Granted, as a high schooler, I had limited opportunity to apply what I was learning, but I remember being wowed by the material. Fast forward twenty-plus years, and I hate to disappoint, but I cannot recite the 21 laws. Actually, I do not recall a single irrefutable law. Franken-System Leadership and business books help us stay inspired, but they can also be overwhelming. When you learn new stuff, how do you remember and apply it all? If you share it with your team and start trying to apply it
The Temptation of Opportunity: How to Stay True to Your Business Focus
As a business founder, owner, or CEO, you are faced with a multiplicity of opportunities. The allure of a new project or partnership can be tempting, but there is a critical question you need to ask: “Is this opportunity really right for our business?” If it is not, you might find yourself stuck in a scenario where the “great opportunity” ends up being a burdensome mistake. You can avoid that trap by achieving true clarity around your business focus.