EOS: Entrepreneurial Operating System
If you’ve been researching strategies to improve your business, you may have come across the entrepreneurial operating system, or EOS. EOS is a set of tools utilized to improve the everyday functions of small to midsize businesses. As the name entails, EOS is focused specifically on operations and works by making daily processes more balanced and efficient.
From the skills of the people involved, to the quality and evaluation of metrics, to determining and strengthening the overall vision of the business, EOS is designed to make challenges easier to manage, streamlining your business and setting you up for success.
Even though I lead my clients using the StratOp Process, I believe that other systems like EOS are solid and should be explored. Here’s my take on EOS, and how it compares to StratOp.
EOS 6 Key Components
There are Six Key Components® of EOS:
- Vision: Ensuring a focused, clear outlook is shared by all members of the team is crucial to maintaining a cohesive environment with a common goal.
- People: Bringing in the right people for specific jobs is necessary to maintain momentum and maximize growth. Great people can struggle or even burn out in jobs they aren’t suited for. After all, the Avengers wouldn’t bring in The Hulk for a job more suited to the agile speed of Spider-Man. Make sure you have the right people in the right jobs getting it done right, on-time, and with the drive to improve every chance afterward.
- Data: A clear set of easily trackable metrics keeps everyone on course while also providing a clear indication when something requires extra attention.
- Issues: The way to deal with problems that arise is by implementing a system to identify and overcome them (and when possible, completely eliminate them).
- Process: Identifying and enacting methods that work well for your company’s day-to-day operations provides a familiar framework, allowing for stability and scalability.
- Traction: With traction, you can power through potential barriers, make critical decisions, keep your team accountable, and follow through to get the work done.
The Benefits of the EOS Structure
The EOS structure can offer benefits to businesses by providing a thorough step-by-step guide to improving daily operations. If current methods need to be assessed, simplified, or revamped, the operating-focused EOS can be a beneficial tool.
What Is StratOp?
StratOp is my preferred method of strategic planning. Created by Tom Paterson, StratOp envelops the entire process of improving a company, from the pre-planning gaining of perspective, to structural overhauls, to regular reviews that ensure the changes are proving effective. This comprehensive, facilitator-led plan ensures optimal and ever-evolving business practices.
6 Phases of StratOp
There are six phases of StratOp:
- Perspective: Create an effective plan of action by understanding where your business is now. With objectivity, you can accurately identify ongoing issues before crafting future processes and attainable goals.
- Core Plan: Now that you know what to change and improve upon, this step is where you create a clear pathway for the future of your company.
- Action: Once you’ve highlighted the issues and big ideas, focus on what’s important now (W.I.N.s). Discuss tasks and solutions with the entire team in a cross-functional manner, welcoming problem-solving collaboration.
- Structure: Implement a form that allows for optimal function. As a facilitator, I guide teams through the creation of a framework that values efficiency and decisiveness.
- Management: This is the time to reflect on, “How are we doing?” Accountability through regular feedback is integral to maintaining a highly beneficial strategic plan.
- Renewal: Every year, convene to review, renew, and restart the StratOp process, utilizing the knowledge from the previous year to adapt and overcome new issues.
The Importance of a Strategic Planning Framework
Are you in a position of leadership with your company? A strategic planning framework is incredibly beneficial to your business. Taking the time to properly determine a goal-oriented vision, discuss the most efficient method of execution, and being open to revision of the process ensures your endeavors will not become stagnant or complacent.
Do not fall prey to the stress created from unresolved problems by relying on intuition rather than thoughtful strategy. Taking the time to plan each year provides structure while still maintaining the flexibility necessary to tackle the unexpected.
EOS vs. StratOp: Differences, Similarities
StratOp and EOS can initially seem quite similar, though they each are more suited for specific situations and stages of a business.
StratOp is useful for businesses who want to combine strategy (working on tomorrow’s business) with operations (managing today’s business). Growth, efficiency, and regular periods of reflection and improvement are at the forefront when strategy and operations come together. If planning the future is important to the success of your business, StratOp is a good way to get there effectively.
EOS is good for diving right into upgrading the current, day-to-day operations you are dealing with right now. Maybe your business vision is clear, and your ideas for the future are set, but the current processes need to be updated to ensure you make it there.
How the EOS Business Model Fits with StratOp
In the structure phase of StrapOp, your team will be creating the framework for which processes and people are best suited to execute the strategic plan. The EOS system works to clarify these variables, making it very helpful to expedite the fourth phase of StrapOp.
Other Tools to Improve a Business
EOS and StratOp can help identify the need for other tools to improve a business, such as:
- Talent assessments: With the intention of identifying strengths and personality styles, the talent assessments I offer (Lead From Your Strengths, The Enneagram, The Thinking Wavelength, and Strengths Finder) can aid in building a more well-rounded team, improve general understanding of work style, and allow for more efficient communication.
- Executive coaching: Every business owner can benefit from reflecting upon and improving some part of their entrepreneurial process. That could be working on overall leadership ability, time management skills, or how to effectively communicate with different members of a team or clients. StratOp can illuminate what areas can be developed, and often, business coaching is a key step in leading to a stronger organization.
- Team coaching: In the process of strategic planning or improving daily operations, you may discover that team coaching is necessary to put your plan into action. Bringing the leadership team together to focus on common goals leads to the development of a more unified, passionate team.
Find the Right Strategic Planning Approach for Your Business
I am happy to discuss how the StratOp tools and EOS model can solve issues and deliver key results, improving how you run your business. Feel free to contact me today to start the first step in your planning process.