Richard Palmer-Smith, President of Peak Traction, joins us on the Art of Construction. As a Professional Entrepreneurial Operating System (EOS) Implementer, Richard is an expert at helping companies overcome barriers to becoming successful. Learn what the EOS is all about, and how it can help your business solve the issues and frustrations that are keeping you from reaching your goals.
1:28 Speed round, get to know Richard
4:04 Richard shares his working history from a starting a window washing company in high school to a high end mill-work company to now being an EOS Implementer.
9:41 Richard explains what the Entrepreneurial Operating System is, and the 6 Key Components
10:29 Vision Component – Where are we going and how are we going to get there?
10:38 People Component – Right people in the right seats
10:52 Data Component – What numbers drive your bottom line? Clear accountability of who is driving what.
11:23 Solve your issues and overcome the barriers to your success
11:37 Process Component – How do we run our business?
11:52 Traction Component – How to drive results
13:01 Free 90 minute session
15:24 Clarity of Expectations for your team – whether you know it or not, your business is running on a system. EOS creates a clear and simple system.
17:08 Weekly Level 10 meeting – where the people accountable for driving the major functions of the business IDS – Identify Discuss and Solve problems. Everyone is on the same page every single week. Report on the numbers, the priority of the company, and the people – both inside and outside of the company.
19:48 If you want to grow your business – get help from an outside perspective.
20:47 The E-Myth Revisited
21:16 All companies have people working there that want the company to be successful as much as the owner. They can be great help to implement your vision
22:07 Frustrations for business owners – feeling a lack of control, not enough profit, issues with people, hitting the ceiling where things aren't working. Get a great team around you to help you work through these frustrations.
24:26 Consultant Mark Mitchell talks about the 2% in Big Companies. Don’t look at consultant cost as a line item that you can’t afford, put time ahead of money and see how you can improve and become more efficient.
25:51 Learn more at eosworldwide.com.
The E-Myth Revisted