For many, starting your own business is the dream. More freedom, more control, more time with your family! But starting a business is quite the learning curve. And it cannot become a reality without a good business plan. Implementing EOS, Entrepreneurial Operating System, into your business is guaranteed to have lasting impacts. There are six key components worth looking into. The components ensure the foundation and operational success of your business is firm.
Follow along below as we flesh out what Dylan McCabe, founder of Limitless Roofing, had to say on the six pillars of business.
For the full webinar, click here.
Pillar #1: VISION
Vision is your company’s strategic plan. The company needs to be on the same page. Having goals and a distinct purpose in mind will have a lasting impact. To put a solid vision in place, reflect on the following questions. Make sure the answers are shared by all employees:
- What are your core values? It is your second family. Your employees need to be motivated by the values. Your core values are what sets you apart from other companies!
- What is your core focus? What is your market? What is your focus?
- Set a 10-year target.
- What’s your marketing strategy? Who is your target audience?
- Envision the 3‑year picture.
- Set a one-year plan → establish rocks → write issues list.
Pillar #2: PEOPLE
The key is getting the right people in the right seats. You want coworkers and employees who respect leadership, come to work with a winning attitude, and support the company’s core values and purpose. And remember: the best salesman will not *necessarily* be the best sales manager. Be intentional with employees when changing their roles. Just because they are thriving in one, does not mean their abilities will complement another.
For companies to thrive, people need to be given roles that align with their unique abilities. Everyone has specific gifts and talents– the People Analyzer is a great resource to evaluate an individual and their place in the company based on those talents.
Pillar #3: DATA
As a business owner, you need to keep score of the key metrics in your business. It’s not only about sales or revenue. It is also important to know how much your overhead costs, company truck fuel records, insurance data, marketing stats, etc. There’s a LOT more than just sales! One thing Dylan recommends is to take time every single week for at least 90 days to analyze your numbers. Keep track of all of it in a scorecard. For steps to create a good scorecard, click HERE. Follow 10 – 15 metrics and watch your numbers– you’ll be surprised what you find! Dylan offers a template for this– check out the webinar to get access to it.
The next part of the data component is measurables. Business owners may be good at setting the vision, but typically they are not great at assessing the key factors and measuring them. Examples of measurables for an employee in sales would be: how many calls have you made? How many doors have you knocked on? How many LinkedIn connections? How many follow-ups? Etc. These measurables should vary from team to team. There are templates for tracking measurables too (get access through the webinar). Tracking measurable allows you to know exactly where the company is at and where things are slipping through the cracks. Check on these measurables on a monthly, if not weekly, basis.
Pillar #4: ISSUES
Problems arise, particularly ones regarding communication when experience and knowledge blur vision and articulation with others. Issues or topics may seem so simple to you, but you have years of exposure and experience! It’s not uncommon for leaders to get wrapped up in this, unaware of the struggles and pain points within their business or service. Bring these issues to light, discuss them, and establish a game plan.
“Issues” are the factors that are negatively impacting the company’s ability to reach annual goals. Examples of issues would be a toxic sales environment, poor onboarding, or uninspiring leadership. Issues can be personal too. As Dylan says, “whatever the issues are, they need to be brought to the surface, dealt with, and put behind you forever.” Dylan offers a template for this, too! He encourages teams to use it to track issues and their solutions. During weekly company-wide meetings, you need to Identify, Discuss, and Solve issues– known as IDS. Develop a company culture where people can discuss real issues in a healthy, mature manner. It will benefit your business (and employees!) greatly.
Pillar #5: PROCESS
Processes are systems that are documented and followed by everyone. Short processes are the way to go. Nobody wants to read a 500-page sales manual. Keep the processes short and simple within all departments. According to Dylan, “if you don’t have a process-driven company, there will be chaos.” The key is delegating and elevating your people to where they’re on the same page, going the same direction at the same speed.
Having no structure or processes is risky. It will not go well! For more information on how to narrow down your processes, read this blog!
Pillar #6: TRACTION
Without this last component, everything else fails. Vision comes first; setting goals and dreaming big. This final step is where you start putting everything into action. Traction creates the company pulse.
“Traction is about living in a 90-day world,” Dylan says. If you want to be effective, companies need to have 90-day goals– otherwise, it becomes like “the wild west!” These goals are called rocks. Ask yourself: What are five to seven things I’m responsible for the next 90 days? What are the clear measurables that will help me knock them out?
Dylan recommends participating in ‘Level 10’ meetings. These meetings are structured and have an established agenda. Good news for 5 mins, scorecard review for 5 mins, rock review for 5 mins, customer/employee headlines for 5 mins, last week to-do reviews for 5 mins, then IDS for 60 mins, and then conclude, recap, and rate the meeting in 5 mins. I told you they were structured! Everyone needs to be involved in these weekly meetings, including everyone in leadership. If you don’t have time for these meetings, “I guarantee you don’t have the leadership skills to grow a successful company.” There is a difference between being reactive and proactive. Companies need to be less reactive and more proactive– and these traction meetings will do the trick.
Wrapping it up
These six pillars of success are wonderful! But how long will it take for these components to be effective? Dylan says it will take about a year to get into the rhythm of how it all works and impacts your company. After a year, you can review and drill down even deeper on the use of the tools. “But once you do that, man, you have got a totally different company, leadership experience, tools, strategies, and a refreshed and renewed mentality of running your business effectively and efficiently. Implementing these six pillars brings a lot of peace. It reduces stress and initiates a clear plan. Worth the investment, don’t you think?
To watch the whole webinar, click HERE.
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Dylan McCabe is the co-founder of Limitless and hosts the podcast Limitless Roofing Show.