If there’s one question we hear from entrepreneurs time and time again, it’s “How do I grow my business?” Along with that, the typical questions are “How do I increase sales or get more customers?” or “How do I scale my business?”
While we’ve got years of experience growing businesses, and plenty of growth strategies, we often advise business owners to take a step back and make sure they are ready for the growth they are chasing. Growth is great, but if you aren’t operating on a solid foundation, you could end up experiencing serious growing pains that decrease the quality of your products and customer service; ultimately affecting customer retention.
So what’s our answer to “How do I grow my business?”….Go back to the foundation. That’s where the Entrepreneurial Operating System (EOS) comes in. EOS is a system of business concepts and workflow tools that can help you sure up your foundation to support healthy growth. In order to achieve healthy long term growth your business needs to be strong in the 6 Key Components of Any Business:
You’ve got to have a crystal clear idea of who you are, who you aren’t, and where you want to be. Then you’ve got to make sure that vision is shared by everyone on your team.
You’ve got to have a solid leadership team and you have to make sure that, throughout your organization, you have the “Right People in the Right Seats”. A skilled, loyal, trustworthy team allows you to delegate tasks and elevate your focus to growth opportunities.
You’ve got to keep an eye on your Key Performance Indicators and identify trends in your business so you can make better predictions and the right decisions. Remember, “What Gets Measured, Gets Done”.
Creating a culture that is open and transparent positions your team to better address and overcome challenges. Issues will arise when you grow, you need a process to Identify, Discuss, and Solve them quickly.
If your core processes are documented and followed you’ll be able to focus on growth opportunities and quickly identify bandwidth issues that could be limiting your potential.
Identifying your 3-7 quarterly priorities and committing your efforts to them will ensure you stay on track and make progress toward your long term vision.
We’ve implemented EOS principles across our portfolio of brands to set a clear vision and align our organizational efforts to achieve it. EOS has worked for thousands of businesses across the country and we are experiencing the benefits of it every day. We work hard to continuously improve the 6 key components, firming up our foundation to support long term, healthy growth.
If you’d like to learn more about partnering with us to grow your business, contact us here:contact us