The Entrepreneurial Operating System® (EOS®) is used by over 100,000 organizations to help them align around common goals and improve the business. These are some of the most important tools that make it work.
- EOS is a model built for busy entrepreneurs and centers around six key components:
- Five key EOS tools include:
- Vision/traction organization
- Accountability chart
- Meeting pulse
Implementing a quality business operating system can vastly improve processes, teams, and organizations. And the Entrepreneurial Operating System® (EOS®) is a model made for busy entrepreneurs looking to streamline and scale their businesses.
The system focuses on accountability for team members, aligning everyone around a shared vision, being very clear about roles and responsibilities, and tracking progress with measurable goals.
When you decide to use EOS, some key tools drive these results. Let’s dive deeper into what EOS is and the crucial components that make it effective.
What is EOS?
EOS is a system of concepts and tools that help businesses clarify, simplify, and achieve their vision. It was built for busy entrepreneurs and provides straightforward tools without complex theories or methodologies. And instead of addressing business issues temporarily, EOS focuses on finding root causes and changing the organization holistically.
The EOS model is used by over 100,000 organizations worldwide and is comprised of six key components:
- Vision: Every person who is part of the organization should be aligned on where the business is headed—and the steps needed on that journey.
- People: Business owners must hire, develop, and allocate the right people for specific roles.
- Data: Many parts of a business are objective, and companies must separate the facts from feelings, opinions, and egos.
- Issues: Every business will have problems, but are you solving them? You need to systematically address issues and their root causes to ensure they don’t return.
- Process: A business’s core processes must be identified, simplified, and documented.
- Traction: This is where a business gains momentum, and much of this traction depends on holding people accountable and ensuring actions are correctly executed.
When business owners feel stuck and unable to move forward, EOS helps them find actionable solutions to improve how the organization runs. The model is laser-focused on ensuring that everyone is on the same page and working toward the same goals.
5 crucial EOS tools
EOS should be implemented comprehensively, but there are some fundamental tools that help it achieve significant results. Here’s a look at five crucial ones:
- Scorecard: It’s not enough to track progress regularly; every person who is accountable for something must have measurable metrics tied to performance. It ensures everyone knows what is expected of them and helps precisely keep track of how things are going.
- Rocks: Rocks are your business’s top three to seven priorities for the next 90 days, as determined by leadership. These need to be shared with everyone, followed by each person developing one to seven individual rocks that reflect organizational or higher-leadership goals.
- The Vision/Traction Organizer (VTO): EOS’s VTO is a two-page guide that helps align the team around these eight questions:
- What are your core values?
- What is your core focus?
- What is your 10-year target?
- What is your marketing strategy?
- What is your three-year picture?
- What is your one-year plan?
- What are your rocks?
- What are your issues?
- Accountability chart: This helpful chart outlines the organizational structure. Every person can see their distinct roles and responsibilities, so there is no confusion and clear accountabilities.
- Meeting pulse: Effective meetings keep people productive and on the same page. EOS emphasizes the value of weekly Level 10 Meetings (which should be held on the same day and at the same time with the same agenda) and quarterly meetings. This format applies to every level or department within the organizational structure.
These are some of the essential components of the EOS model. Without accountability, regular meetings, priorities, a scoring mechanism, and a shared vision, it’s challenging to keep a team aligned and the business growing.
Getting help with EOS
EOS tools are proven to help business owners align teams around a common cause and systematize companies, and they work for businesses of any size. But sometimes, owners find it challenging to implement EOS while also participating in the process. This is where an outside perspective and guide can help.
The Provident CPA & Business Advisors team helps our clients implement EOS and all its vital tools. The first step in our EOS process is a complimentary 90-minute meeting with your business’s leadership so that everyone can learn more about the model.
Contact Provident CPA & Business Advisors to learn more.