Traction: Get a Grip on Your Business

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This book is very popular in business circles. I can see why. If you have ever tried to get a group of leaders organized but stumbled on the definitions of "goals," and "objectives" etc., you know that the vocabulary of planning and strategy are not universal. This book provides its own vocabulary (some of it trademarked) so everyone is clear on what each part is, how it is defined, why it is needed, etc. It also provides a tried and proven system of getting a entrepreneurial enterprise on the path to achievement / success by acting the "vision" and the "goals" and the rest. For instance, a startup is most likely going to have to rethink the ‘People’ and ‘ Process’ components more than ‘Vision’. In essence size, structure and life phase of a business is going to impact where to start. For this reason it’s highly advised to work with an EOS Implementer. Inside Traction®, you’ll learn the secrets of strengthening the Six Key Components™ of your business. You’ll discover simple yet powerful ways to run your company that will give you and your leadership team more focus, more growth, and more enjoyment. Your goal as a leader should be to hold employees accountable and reward all around the core values and their unique abilities. The demographic characteristics of your ideal customers. What are they (If you're marketing business to business, consider characteristics such as job title, industry, size, and type of business. If business-to-consumer, then age, sex, income or profession.)

Your business has a few key processes that keep it functioning. Identifying, documenting, and ensuring that everyone follows your key processes consistently makes your business more efficient and scalable. All entrepreneurs and business leaders face similar frustrations: personnel conflict, profit woes, and inadequate growth. Decisions never seem to get made, or once made, fail to be properly implemented. But there is a solution. It’s not complicated or theoretical.However, you can push through to the next level of growth when you and your executive team adopt five approaches—simplify, delegate, predict, systematize, and structure. Simplify The book, “Traction,” is well-structured and easy to read. It’s filled with potent and yet still pragmatic business advice. Here are our team’s takeaways;

Other summaries give you just a highlight of some of the ideas in a book. We find these too vague to be satisfying. Here's what Traction does right: Everything. There are clear plans and tools and strategies for getting a business at least looking in the right direction. How do I know? I've been using them, and they seem to be working. At least nobody's punched me yet - which might be as good as one could expect for anybody who takes a consultant's advice. Post the names on a board, review them and list down the characteristics they epitomize. Debate the list and narrow down to the 3-7 core values. If you manage an organization of 5 or more employees, the Traction EOS system is a gamechanger. My company has fully implemented the system and it has produced outstanding results, not to mention peace of mind.

Step 4: Assign an “owner” from the leadership team to each priority. This person will be accountable for achieving it, by creating a timeline, assigning tasks, and ensuring people complete them. Ensure that everyone follows the processes: As the company’s leader, make clear your expectation that everyone, including your leadership team, will follow the processes. Every business has a sweet spot just like a golf club. This becomes your core focus and when you spend the most of your time in this area you get more profits and the business goes further.

Well-run meetings are essential for accountability, results and efficiency. The Meeting Pulse™ is made up of quarterly and weekly meetings where the leadership team meets (without fail) to drive progress and solve issues. In the book / full summary, we take a closer look at each of the meeting types (quarterly, annual, weekly) to explain the objectives and agenda.

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. To get traction—the ability to execute, or make the company’s vision a reality—you need to clearly define and communicate your vision**. Your focus: To determine your core focus, you need to know two things: your company’s purpose and its niche. Here are some questions to ask to figure out what they are. 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.)

Review to-dos from last week’s meeting—these are action items that pop up throughout the week—for example, a requirement to ship an item immediately. Ever feel a book rambles on, giving anecdotes that aren't useful? Often get frustrated by an author who doesn't get to the point? The right position is the one in which the job duties match the employee’s distinctive skills and talents and she’s able to apply her abilities to the greatest effect. The person in the right place creates value for the company and receives value from having the opportunity to hone a talent. Your vision defines your organization, and it spells out where it’s going and how it’s going to get there. To create a vision, determine the following: To determine the right positions for people, assess them with the GWC tool. Ask yourself whether they:Structure- Unfortunately, the structures of most small companies are either too loose or non-existent. Inside Traction, you’ll learn the secrets of strengthening the Six Key Components™ of your business. You’ll discover simple yet powerful ways to run your company that will give you and your leadership team more focus, more growth, and more enjoyment. Accountability Chart (along with the People Analyzer and GWC): Create your Accountability Chart first because it goes to the root of most issues. Determine the right structure, then put the right people in the right positions. With this tool in place, the other tools are more effective. Right person, wrong position: The employee shares the company’s core values but isn't in a position that matches her particular talents. She may have been promoted to a position that’s not a good match, outgrown her current position, or was put into the wrong position to begin with.