if you're like most entrepreneurs you're probably facing one or more of the following five frustrations lack of control people profit hitting the ceiling and nothing is working let's go through each one lack of control you don't have enough control over your time the market or the company instead of controlling the business the business is controlling you people you're frustrated with your employees customers vendors or Partners they don't seem to listen understand or follow through with their actions to put it simply you're not all on the same page profit there's simply not enough of it the ceiling your growth has stopped no matter what you do you can't seem to break through and get to the next level nothing's working you've tried various strategies and quick fix remedies none have worked long term and as a result your staff has become numb to trying anything new the entrepreneurial operating system or EOS stems from a discovery that all the issues leaders managers and entrepreneurs struggle with can be boiled down into six areas we call these the six key components of any business those six key components are Vision people data issues process and traction and to the degree you can strengthen the six key components of your business you can break through the ceiling and get to the next level once you do this your issues will melt away and you'll get more of what you want from your business let's go over each key component one at a time the first key component is the vision component in strengthening this component you crystallize your vision of where you are going and how you will get there we use two tools or disciplines to help you strengthen your vision component the first tool is what we call the eight questions these questions are captured in the tool we call the vision traction organizer or the VTO and those questions are what are your core values what is your core Focus what is your 10-year Target what is your marketing strategy what is your three-year picture what is your one-year plan what are your quarterly rocks and what are your long-term issues once you answer these questions you need to get everyone in the organization on the same page and Rowing in the same direction the second key component is what we call the people component because you can't execute on your vision without great people we teach two disciplines to help you define what having great people means for your organization right people right seats right people are simply people who share your core values they fit your culture and we use a tool called the people analyzer to help you determine who fits your culture and who doesn't then to get those right people in the right seats we use a tool called the account ability chart the accountability chart custom fits to your business creating absolute Clarity around roles within your organization once you've defined the right structure for your organization you can put the right people in the right seats write people and write seats you have to have both the third key component is the data component the data component helps you cut through all the Egos and subjectives and opinions and get you managing your business using data we use two tools to strengthen the data component of your business a scorecard and measurables a scorecard is a simple tool to track the five to 15 numbers that give you an absolute pulse on your business they're typically activity based numbers in a future view of your p&l it's 13 weeks at a glance for you to see Trends and patterns the second tool is what we call measurables measurables is the concept that everyone in your business should have a number that they're accountable for delivering every week with the vision component strong the people component strong and the data component strong you end up with an open honest and transparent organization where issues start to rise to the top that takes us to the fourth key component the issues component in strengthening the issues component we use two tools or disciplines the first tool is an issues list by smoking out all your issues and putting them on a list you have a complete view of all the opportunities obstacles barriers and problems you need to address in one place once you have the issues list you use the second tool IDs IDs stands for identify discuss and solve this discipline will help your team solve issues at the root so they go away forever and never come back the fifth key component is the process component this component is where you create your franchise prototype and drive efficiency Effectiveness and ultimately more profit to your business we use two disciplines to help you strengthen your process component the first is that your processes are documented and the second is that they FBA or followed by all the first step is to document your handful of core processes typically between 6 and 10 and use the 2080 rule to document the 20% that produces es the 80% of the results the second tool in the process component is FBA or followed by all the FBA tool helps you get everyone in your organization to follow your processes doing it your way the right and best way each and every time finally the sixth key component is the traction component the traction component is where the rubber meets the road as the say goes Vision Without traction is hallucination rocks and meetings are two disciplines we teach to strengthen the traction component rocks are your business's priorities over the next 90 days remember that less is more because if everything is important nothing is important the rule of thumb here is three to seven rocks per quarter the second tool or discipline is having a great meeting pulse for your business create a weekly quarterly and annual meeting to keep your people on track on the same page and moving forward one of the most powerful tools in the Eos process is the level 10 meeting the level 10 meeting is a weekly meeting agenda where you ensure your numbers and priorities are on track and your people are happy so that's the EOS model and the six key components remember to the degree you can strengthen these six key components your issues will melt away and you'll get everything you want from your business [Music]