How working with a business advisor who lives by the EOS can benefit your business
Running a business has ups and downs, wins and losses, good days, and, well, terrible days. You may often wonder why you started your own business, and sometimes why you didn’t do it sooner. These are all normal swings that entrepreneurs across all industries face because, frankly, it’s hard work.
Wouldn’t it be nice if there was a system—a proven guide—that provides the tools and solutions you need to smooth out the wrinkles in your business plan and facilitate growth?
The Entrepreneurial Operating System (EOS) may be that solution. The EOS is comprised of tools and concepts that achieve clarity, improve ROI, and help you see the results you want from your efforts.
What is the EOS, and why should you work with an advisor who lives by it?
Breaking down the EOS model
The EOS isn’t like an “operating system” on your computer or smartphone in that you install it, forget about it, and it functions. Think of it as a blank canvas that you work on, building a model around your products and services. It’s made up of tools, software, and concepts that change the way your organization operates and approaches its vision and goals.
As the EOS website puts it, the system “combines timeless business principles with a set of simple, practical, real-world tools to help entrepreneurs get what they want from their businesses.”
The EOS focuses on six key components of any business:
- Vision. A business can’t fully succeed unless everyone across the business is on the same page—aligned on the organization’s mission, goals, and vision.
- People. It’s a requirement to hire and surround yourself with exceptional people if you want your business to be exceptional. Your success will ultimately depend on the people you work with and trust with your business goals.
- Data. Numbers matter for business growth. Often, you have to put emotions aside and look at the facts to know what’s working and what isn’t. This means sometimes going beyond your gut instincts and actually analyzing data.
- Issues. Problem-solving as a team should be a huge priority for your organization. Once you have your vision, people, and data going strong, you can collectively and successfully approach and manage issues.
- Process. Your business is run by processes. Identifying and documenting your processes will help you figure out what defines your business and how you can nail down which procedures and steps are essential and which aren’t. Then, you can communicate what you learned across the organization so that everyone knows the drill.
- Traction. This point is about making sure that everyone in the organization actually carries out practices that help the business reach its vision. This requires team-wide focus, discipline, and accountability.
Based on these key areas of business, an EOS advisor can provide training and support so you can easily implement the tools into your workflow.
The EOS has certified Implementers who guide you and your leadership team through the EOS implementation process. This starts with a 90-minute meeting, during which you get an overview of the tools and how the EOS can help your business.
Your team then takes part in focus days and value-building days and then sets up quarterly and annual sessions. These regular sessions help the team measure success and stay aligned on goals and outcomes.
Another feature of the EOS is the Level 10 Meeting, which is a weekly hour-long phone call with a partner. This tracks the health of your business and allows you to touch on goals and issues.
Why work with a business advisor who lives by and helps you implement the EOS?
No matter the type of business you run, the EOS is a secret weapon to help you reach your goals and define and achieve your vision. One of the model’s best qualities is that it applies to small, medium, and large businesses.
Working with a business advisor who uses the EOS model is a smart step forward. The six key components outlined above give you and your team more transparency into what’s going on across the organization, better alignment on goals and processes, the use of data to make fact-based decisions, improved problem-solving skills, and the ability to actualize—and measure progress toward—the vision you’ve worked hard to create.
At Provident CPA & Business Advisors, we help you implement the EOS so that you can continue moving forward and align your team. You’ve spent a lot of time, money, and energy building up your business, and these tools and concepts can keep the momentum going—or pull your organization out of a stall. We provide proactive management solutions and growth and profit improvement services, in addition to our CPA services. We help you create a well-rounded and effective business plan, along with the strategic tax advice that enables your business to grow even faster.
Schedule a complimentary 90-minute meeting today, which starts the alignment process and introduces you to the EOS. Or just contact the team at Provident to learn more about all the services we offer for entrepreneurs.