If an organization is to achieve a competitive edge in the market, it must seek to put in a place that it follows. In other words, it is about having a system on how things are done as part of the organizational culture. When new employees are absorbed in the company, then, they adapt to the system. Similarly, if a company is to survive in the future, then, it must lay down a viable and sustainable system early enough.
One of the reliable and authoritative sources of information on how to successfully run an organization through a system is the book, Traction: Get a Grip of Your Business. The book is written by Gino Wickman. Wickman is the founder of the Entrepreneurial Operating System (EOS). His organization EOS Worldwide helps people all over the world to implement the EOS. It is estimated that 60, 000 companies globally use this system.
At the mere age of 21, Gino Wickman had a deep interest in understanding why businesses thrive, and understanding the barriers towards the thriving of businesses. He set a practical example in this when he took over the family business which was debt-ridden and was able to turn it around.
This article is going to look at the book Traction, and gives a summary of the literature about the growth of businesses.
Traction: Get a Grip of Your Business Summary
The Traction book recommends a useable system where planning of the future is well articulated, and that nothing falls through the cracks. It is a highly authoritative source of information on what is supposed to be done, and the methodology that should be used on doing what is supposed to be done.
At the center of this is the need to have a clear vision, shared by everyone in the company, and not just some sections of the employees. The overall vision of the company is important as it gives it the required direction. The ability to solve problems in an open and transparent manner is a matter of paramount importance.
The language that employees use in a company should be uniform and streamlined. For instance, the term process does not necessarily mean the same as procedure. Depending on the usage and the circumstances, these could be different terms.
Building a leadership team ensures that one does not do everything when running the company. It is good that one hires people who are better than him and people who are trusted and delegated with responsibilities. This also ensures that there is diversification of ideas, and different people contribute to the day-to-day running of the company in different capacities. Again, one cannot be a jerk of all trade as he is going to become a master of none.
Data (numbers) are very important to the running of an organization. With the use of data, decision-makers divorce themselves from possible subjectivity, and instead, employ objectivity. Because every employee, through numbers, is able to determine what is expected of him, there is general accountability. In addition to that, numbers, in the line of duty, enhance healthy competition among employees. Data helps decision-makers to make an informed decision.
Research shows that many of the employees in the modern workplace view regular meetings with distaste, some going to an extent of terming them boring. The book reminds that reader that regular meetings remain an important ingredient in the day-to-day running of the company, and the management should not shy away from them.
Gino Wickman addresses a number of challenges that businesses face. To start with, when the businesses are running the life of the manager and the employees, then, there is a cause for concern. Lack of profitability on the company can lead the company to its deathbed. In addition to that, some companies may reach the growth ceiling leaving the company with no other ways of diversification. Moreover, every business must seek to adopt concrete tactics and strategies that will help it realize its goals and objectives.
The book makes some recommendations on what to do in case the business faces some problems or challenges. To start with, businesses are discouraged about making decisions through consensus. The manager has the authority to make a decision when faced with a stalemate.
The manager needs to have a powerful will in order to solve certain problems. At the same time, at the stage of decision making, one should ensure that there is comprehensive decision making, and different parties are involved. In other words, one should not be relying on second-hand information in order to make a decision.
Companies can get overwhelmed with tasks and problems to be solved. In such a case, the best thing to do is to solve such problems in order of priority. In connection to this, customer support plays a critical role in ensuring that execution of tasks and solving of problems follows a priority.
Resources
As stated earlier, the book is used by companies for a practical journey in ensuring that they grow and expand. Having stated that, there are a number of resources that are provided through the EOS system. The system provides forms as well as coaches that come in handy in ensuring that the company is able to take on the path of success. All one needs to do is to Google EOS® coach and they will be able to get assistance.
Summary
Many business owners have gained immense benefits after reading Traction. The book is a recommendable model of realizing business transformation. Overall, the book is about imparting discipline and accountability in the day-to-day running of the company, and is highly recommended.
