Gap 4 – Objectives, Actions and Results
We’ve reached the last of the “Gaps” in this Bridging the Gap series of articles. This time, we’re talking about what you wish, thought or hoped would happen and what actually occurred…and how to improve on it going forward!
As I write this, according to FSU News we are only 1 week away from the date by which 80% of new year’s resolutions have failed by – that’s by the middle of February, if you’re wondering. I’m not and have never been one to set “new year’s resolutions” because, well, they just usually aren’t very effective, as the article points out.
The same thing happens far too often in business. Many companies will set aside one, two or even three full days for an off-site annual planning session. In fact, just this week I facilitated a two-day annual planning session for one of my clients, and have done several over the past few months.
Don’t get me wrong, I’m 110% on board with getting away for a two-day annual every year. In fact, it’s baked right into The EOS Process™ that I take all my clients through.
The difference is that when these sessions are not part of an overall system (like the Entrepreneurial Operating System®, which I help companies implement), any planning that takes place often is forgotten a week later, and therefore the objectives are rarely met – just like most people’s new year’s resolutions.
How EOS Implementation Gets You Lasting Results
In contrast, teams that run on The Entrepreneurial Operating System® (EOS®) have driven consistent results for close to 20 years now since Gino Wickman created it. So what makes the EOS process so special, and why do companies running on this system more often than not accomplish most of the objectives they set in their Annual Planning sessions?
The Entrepreneurial Operating System® is entirely based on the premise or belief that every business only has Six Key Components™at its core: the Vision component, the People component, the Data component, the Issues component, the Process component and lastly the Traction® component. The meaning of Traction® in EOS is what we will be focusing on in this article.
Using EOS to gain Traction is all about seeing your Vision come to fruition! As part of the EOS Process, we have our clients answer eight simple questions that are recorded in their Vision/Traction Organizer™, or V/TO™ for short.
Several of those questions are about where you want your company to go or to be in the future, setting the Vision. An EOS implementer will help you set a 10-Year Target™, a 3-Year Picture™, a 1-Year Plan™ and lastly, Quarterly Rocks. When clarifying what the future looks like and then creating a plan on how to achieve it layer by layer with each aspect driving progress towards the next, you WILL most likely achieve that 10-Year Target! This is the beauty of the EOS process: quite simply, it works.
EOS Worldwide itself is a recent example of this. When Gino Wickman and his partner Don Tinny decided on a 15 year Core Target back in 2005, they set a goal to have 10,000 companies running the Entrepreneurial Operating System by the end of 2020 with the help of an EOS Implementer like myself. At that time there were only 3 or 4 EOS Implementers and fewer than 60 companies running on EOS…a long way to go! Amazingly, by November of 2020 we had officially surpassed 10,000 companies running the Entrepreneurial Operating System with the help of one of the 400+ EOS Implementers around the world. BOOM!
EOS, Traction, and Real Results
How can you use EOS to gain so much Traction that you can set big Objectives, take the right Actions and ultimately see the Results you want?
The first step is to clarify the Vision. Where do you want to be in 5, 10 or 15 years from now? This is a key part of the EOS process. After you set this Core Target, you want to get everyone in your organization rowing in the same direction to actually make that happen.
Once your Core Target is set, the next step is to “paint a picture” in the mind’s eye of your senior leadership team so that everyone in your organization can see what we call your 3-Year Picture.
By setting a revenue, profit and measurable goal and then describing succinctly “what it looks like” to your team you gain two great benefits. Firstly, the chances of achieving your goal when everyone sees the same thing is so much greater. Secondly, it sets you up for a fantastic 1-Year Plan!
As a professional EOS implementer, I love this part of the process. Just two days ago I took a team through this exercise. At the end I had them all close their eyes while I read aloud the picture they had just painted – boy, is this powerful. In this particular session the Visionary said “WOW, that’s amazing, I can actually see this in my mind”!
The next step in the EOS process is to begin to bring this vision down to the ground by creating a 1-Year Plan. Again, we set a revenue, profit and measurable goal along with 3 to 7 company goals for the year – 3 to 7 and NOT 37, because if everything is important, nothing is important – Less is More!
Once you know what the goals for the year are, you then go about setting Rocks. “Rocks” is a term that Stephen Covey coined in his book First Things First, which I highly recommend reading! Rocks represent your team’s biggest priorities, and in the context of the Entrepreneurial Operating System, they are 90-day priorities.
As an EOS implementer, I usually have teams set 3 to 7 Company Rocks, and each member of the leadership team takes a total of 3 to 7 Rocks. Almost always, several of these Rocks support and drive progress to the 1-Year Plan that was set, which gets us a little closer to those goals each Quarter!
EOS Process Checkpoints
Part of the EOS Meeting Pulse™ includes meeting with the Leadership Team every 90-days to review the past quarter, discuss what was good & bad and set a plan in place for the next quarter.
This is a huge factor in meeting objectives set in the Annual Planning Session. Unlike most companies that set a plan and often don’t think about it until just before the next Annual session, the EOS process helps companies keep this plan front-of-mind by reviewing it every quarter, helping them gain consistent Traction!
The last step in bridging this gap of objectives, actions and results is the weekly Level 10 Meeting™ which is fundamental to running on the Entrepreneurial Operating System and achieving your goals. This meeting is all about solving issues and holding everyone accountable for the results they’ve committed to.
Discover how the EOS process can help your business thrive!
At Tribridge Solutions, we’re proud to be a part of the EOS Worldwide community as a Professional EOS implementer. You can learn more about EOS at EOS Worldwide and on our website. You can also download free EOS Tools and a free 1st chapter of each of the books in the Traction Series Library.
I hope you’ve enjoyed this Bridging the Gap series of articles and that it helps you on your journey to achieving the Vision-Traction-Healthy in your organization!