Continue reading with Headway app
Continue the summaryShort summary
Do you have a hold on your business, or is it your business that has a grip on your life?
The latter is true for far too many entrepreneurs. But it shouldn't be so.
In his years of study on business and entrepreneurship, Gino found that all struggling businesses are suffering the same thing, just in different ways. And that the ones who succeed have found a way to overcome those challenges. His discovery led to the development of EOS, an Entrepreneurial Operating System designed to help every entrepreneur get a grip on their business.
This summary is a collection of valuable tidbits from “Traction.” It's indeed a must read for every business leader who truly believes in letting their business run as an entity while they maintain a proper work-life balance.
Key points
1
The key to success in business is to understand that your business is an entity in itself
So many entrepreneurs run from pillar to post trying to kick start their new business or revive a dying organization. And it's a tiring thing to do. It's hard enough being an entrepreneur, you shouldn't dispense too much energy on things you could set on autopilot while focusing on other parts of your business.
The most successful business leaders are the ones who execute well and know how to bring focus, accountability, and discipline to their organization.
You don't have to focus on everything to make your business grow. Matter of fact, if you keep running around trying to tie all the nuts together, you will be dispensing so much energy and will get fatigued at the end of the day, yet not make any significant progress over time. You can now see why a smart executive working 40 hours a week could very well be outperforming his counterpart in another organization who is working twice the number of hours.
On the surface, it looks like there are many nuts you have to tie to make your business grow sustainably. But when you take a deep and critical wide-angle view, there are only six areas of your business that you need to focus on. They are:
• Vision
• People
• Data
• Issues
• Process Traction
All 6 components make up the Entrepreneurial Operating System (EOS). And the aim of this summary is to give you actionable tidbits on how you can make all 6 components work in your favour. By the end of this summary, you will be armed with the knowledge you need to take your business to the height you've always imagined for it. Let's start right away.
On the surface, it looks like there are many nuts you have to tie to make your business grow sustainably. But when you take a deep and critical wide-angle view, there are only six areas of your business that you need to focus on. They are:
• Vision
• People
• Data
• Issues
• Process Traction
All 6 components make up the Entrepreneurial Operating System (EOS). And the aim of this summary is to give you actionable tidbits on how you can make all 6 components work in your favour. By the end of this summary, you will be armed with the knowledge you need to take your business to the height you've always imagined for it. Let's start right away.
2
Vision is the first component to give attention
Vision is a quick picture, an overview, if you like, of what your organization represents; what it's all about; where it is going and how it's going to get there. Vision is what births businesses, so every entrepreneur first had a vision before they went into business. The problem often is that only the entrepreneur has the big picture, because he or she didn't make it plain for everyone in the organization.
Other chapters are waiting for you in the app
3
Your organization would not make progress if the right people are not occupying the right seats
4
Create a scorecard to make accountability easier
5
Face problems head-on and find viable solutions to them
6
Action is the lifeblood of every plan or strategy
7
