EOS Toolbox Overview: Get Traction Today With These Free Tools (part 1)

So, you’ve heard about Traction by Gino Wickman and you’re starting to hear the Entrepreneurial Operating System® buzzwords around town. Friends at your local EO or Vistage chapter meetings are throwing around the tools of the EOS® Toolbox™ like you should know what they’re talking about.

But, you haven’t had time to read the book. You know you’d get value from the conversations, if only you had some perspective. Heck, you could probably even use a few of these tools in your business. If only someone would explain how they work!

That sound familiar?

If this is you, you’re in the right place. Below is a quick and dirty explanation of most of the major tools from the EOS Toolbox. 

(Note: This is just an overview. I won’t explain any tools in detail. Click on the links I provide to deep dive on any tool.)

What is the EOS Toolbox?

Simply put the EOS Toolbox is the group of tools and processes that EOS uses to maximize profit. In a pure EOS Implementation run by a Certified EOS Implementer, you get each of these tools in exactly the right order, paced out and explained to maximize its effectiveness.

However, if you’re dead set on self-implementing the EOS Toolbox, it’s important to at least understand the basics of each and how they interact.

While it’s possible to use some of them individually, I strongly recommend you take the all or nothing approach, at least as a goal.

Using The EOS Toolbox

To starting using the EOS Toolbox, you need four things:

A full understanding of the system

You need to know why you’re doing things a certain way. EOS is about the long journey, and your team has no chance of making it without understanding what that journey looks like.

Total dedication from your team

Likewise, you need total dedication. The journey is hard. People will be challenged in ways they never thought possible. If your team is more interested in easy going than success, they simply won’t make it.

A good business model

EOS is a lot of things, but not even the Toolbox can save a bad business model. Know when to hold em. Know when to fold em.

A bit of advice

Don’t go it alone. Read our immense blog, listen to our podcast, attend an event, or watch our youtube channel. There is no reason you should think you have to figure this out alone.

555 Meeting

The first tool in the toolbox is the 555 Meeting™.  Once per quarter EOS asks you to sit down with all of your direct reports and make sure you’re on the same page for 3 things:

  1. Core Values – does this person behave in a way that represents your company
  2. Rocks™ – is this person achieving their priorities
  3. Roles – does this person understand and fit well into their role.

Unlike a performance review, this is a two way conversation that is laser focused on total honesty. You are asking the direct report to evaluate you in the same way.

Accountability Chart

The Accountability Chart™ is the first tool from the EOS Toolbox a team works with during a professional implementation. This tool changes your company’s old-school organizational chart into something much more powerful.

The Accountability Chart shifts the focus from reporting structure to responsibilities and accountabilities. The goal is that everyone understands exactly what they are responsible for getting done.

Clarity Break

This small but powerful tool gets overlooked by a lot of folks new to the EOS Toolbox. It’s crazy simple. You, as an intelligent and motivated person, need a few minutes in each week to prioritize.

That’s it. You take 5-15 minutes in each week to get yourself on track. You work “on” your business instead of “in” it. Decide what’s important, where the company is going, and how to facilitate that this week.

You’d be surprised the kind of game changing ideas come out of this.

Company Scorecard

I love EOS Scorecards™ and I’m not ashamed to say it. The Scorecard moves your conversation in such a powerful way that you will wonder how you survived without it.

Do you ever wonder why you get blind sided by bad quarters or years? Do you ever ask yourself “was this a good week,” and simply not know the answer?

That’s because you’re still using reactive data. The Scorecard is the shifts you to predictive data, which allows you to monitor progress week by week and see problems coming a mile away. You do that by giving every single person in your company a number to meet each week. It can be anything from sales calls made (revenue) to number of times the phones ring before being answered (customer satisfaction). The key is that it predicts how your business will be doing in the future.

To be continued…

Read about the rest of the tools in part 2 of this blog!

Posted in