Traction: Get a Grip on Your Business

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Traction Component – the ability for business leaders to “execute well, and they know how to bring focus, accountability, and discipline to their organization After you read this book you WILL have a SYSTEM that you can use to run your business. As it turns out, SYSTEMS are what business is all about. C: Are Capable of doing it: Being capable means having the intellectual, physical, and emotional capacity to do the job. For instance, a position may require more than 40 hours a week, which not everyone will want to commit to, or it requires certain knowledge or interpersonal skills. 3) Data Your one-year plan: A plan for what has to happen this year creates traction for achieving your vision. Many entrepreneurs neglect this component and allow their way of doing business to develop haphazardly; people do their jobs in whatever way they see fit. This creates inconsistencies and inefficiencies as well as never-ending headaches for you, as the owner.

types of Issues Lists: V/TO (not high priority; issues for future quarterly meetings), weekly leadership (strategic; only what can't be solved at departmental level), weekly departmental. Why does your company exist? What’s its purpose or mission? Strive for an answer that: is no more than seven words, is simple and bold, resonates emotionally, involves everyone in the company, doesn’t involve money, and is broader than a goal. An example of a purpose or mission would be “to improve the quality of life in our town.” Here's what Traction does wrong: Cute-ness. This isn't really a severe flaw - more likely it's a problem of the genre. Everything must have a special name in business books. It's a rule. "TO DO LIST" is far too simple, and wouldn't sell any books. "ACCOUNTABILITY ACTION MATRIX" sounds like an MBA, and an MBA = smarter than me. (this is not a real example from Traction. it's what English majors call hyperboleeeeeeeeeee - which means using too many letters to make a point.)

As with the three-year picture, set a revenue goal, profit goal, and a one-year measurable consistent with your three-year measurable. Document each process. List the most important steps with a few bullet points for procedures under each. Follow the 80/20 rule: document the 20% of the process that produces 80% of the results. Most businesses fail to reach the next level of growth because owners are afraid to let go of total control, trust their leadership team, and delegate to them. But for their business to grow, they need to take that leap of faith. The key is getting an EOS™ in place, so your business functions without your micromanagement.

You and your senior leaders should meet quarterly to review the vision and set priorities for the company and leadership for the next 90 days. Here are the steps: The first component of the EOS™ is your vision. Most entrepreneurs have a vision for their company, which they assume everyone else can see as well as they can. But many times, others in the organization don’t see it—and when people are confused, they go in different directions and visions can’t be realized. The fifth component of the EOS™ is process. Your company has a few key processes that keep it running—together they constitute your unique “way” of doing business. Honing your processes so they run without constant oversight frees you to focus on building your business rather than being mired in its details. Also, when you have a defined way of doing business, your company becomes scalable and more valuable should you decide to sell it.A departmental issues list: This list contains immediate departmental issues that must be handled at a weekly departmental meeting. For instance, sales department issues might include: not hitting call numbers, upcoming sales presentations, and closes. First, you have to allow for issues to be discussed by fostering an open and honest work environment to allow issues to be uncovered and flow up to leadership. The problems can then be organized into one of these Issues Lists to promote transparency and solve the problems: Employing EOS grants you a notable competitive advantage. Traction inherently assumes that your business will experience growth, and by embracing this framework and concentrating on the Process Component™, you position yourself favorably from the outset. I read the book as preparation for ministry planning. We will use some of the same language. But I wish that there was a version of this book for ministries, or at least for nonprofits. I've been taught the ideas in this book for earlier ministry planning events and I know their value. But I also miss the voice of Jesus and the challenge of leading the church as elements of this training.

This component involves 2 parts: (i) identifying the right people for your organization and (ii) placing them in the ideal seats. IDENTIFY THE RIGHT PEOPLE Core processes: After the foundational tools are fully implemented, the next step is to document and train people in your core processes using the three steps.

Develop a compelling vision for your organization and help people to see it. When everyone’s aligned in the same direction, it creates a laser-sharp focus that propels you forward. CRYSTALLIZE YOUR VISION When your core values are part of the common language in your organization, they’ll become a way of life. 2) Your Company’s Main Focus