Traction - Gino Wickman

If your business is stagnating, without generating profits, and you can't change the direction of the company, the book "Traction", by author Gino Wickman, was made for you.

All of these feelings are common among entrepreneurs, especially those starting a small business. With that in mind, Wickman describes the six essential components for achieving a profitable and frustration-free business.

Want to know more? So continue reading this PocketBook and learn how to make decisions that will help you take control of your organization!

About the book "Traction"

The work "Traction" was originally published in 2007 in the United States.

In 10 chapters, the author Gino Wickman presents the method developed by his leading development company, the "Entrepreneurial Operating System" (EOS). This system is composed of 6 fundamental components, explained in depth in the book.

The goal of the system is to outline guidelines for leaders who want to improve their bottom line and take control of their business. In addition, the author cites several examples of customers of his company who made use of this method.

About the author Gino Wickman

Gino Wickman has been an entrepreneur since he was 21 years old. With his experience, he developed what he calls the "Entrepreneurial Operating System" and founded a leading development company, EOS Worldwide.

In addition, Gino also wrote the bestseller "Get a Grip".

To whom is this book indicated?

The content of the book "Traction" is interesting to any entrepreneur who needs to set directions for their business, aiming for sustainable growth and achieving lasting success.

Basically, it's interesting for people who want to know how to systematize processes within a company.

Main ideas of the book "Traction"

• Having a well defined vision is fundamental to the success of any venture, because it is the one that dictates the actions and thoughts within the organization;
• People are responsible for turning vision into a corporate culture;
• Meetings are an essential part of a company's success, as long as they are well done;
• Problems are not signs of weakness, but growth opportunities;
• Traction is what makes vision turn into results;
• The six components of the EOS system are: vision, people, data, problems, processes, and traction.

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Overview: Component 1 - Vision

The book "Traction" explains that successful entrepreneurs have an attractive and well-defined vision for their business. In addition, they know how to communicate this message to employees.

From this, a guideline is created to be followed by everyone within the organization, always used to develop solutions and guide strategic actions.

Therefore, it is a key part of any company's success. According to the EOS, during vision design, the following questions should be answered:

• "What are your core values?": they are the principles that, if well implemented, will become the culture of your company;
• "What is your main focus?": what your team should focus on when building your business;
• "What is your goal for the next 10 years?": where do you want your business to be in 10 years?;
• "What is your marketing strategy?";
• "What is your focus on 3 years?": detailed strategic planning for the first three years;
• "What is your 1 year plan?": it is the way you will transform the long-term vision of your business into reality;
• "What are your quarterly priorities?": the author Gino Wickman calls these priorities "stones";
• "What are your problems": the obstacles in your way that prevent you from achieving your goals.

Overview: Component 2 - People

The second entrepreneurial operating system component, developed by the author Gino Wickman, are the people. According to him, the fundamental point in this component is to allocate the right people in the right places.

But what does the author mean by that? How do you know which are the right people and how to find their correct place? Let us understand it for parts.

Initially, for "certain people" the author means people who understand and share the values and vision of the company. Thus, they will adapt more easily and help establish a strong corporate culture.

Once selected the most adequate people for your organization, the next step is to put them in the "right places". This means allocating people to roles in which they can reach their potential.

In order to know if the person is suitable for that place, he / she must pass the "GWC" test (Get it, Want it, Capacity to do it): the person must understand the obligations of that function, must want to assume this role and must have the technical capacity for this.

The book "Traction" identifies the main functions within a company:

• Sales and marketing (business engines);
• Operations (does the service);
• Finance and administration (manages the flow of capital and infrastructure).

In addition, Gino Wickman explains that there are two more fundamental roles for the success of an enterprise:

1. Integrator: he is responsible for integrating and relating the main functions of the company. These people have the ability to manage the business and control the problems of everyday life;
2. Visionary: normally, he is the founder of the company. They are creative people, who seek different ideas for the company and solve the biggest problems.

Overview: Component 3 - Data

Every successful entrepreneur needs to keep track of the directions of his or her business. And, through the EOS system, the best way to do this is through data analysis.

The author Gino Wickman explains that efficient monitoring of company numbers promotes the ability to identify problems faster, or even predict problems.

With this, it is possible to develop solutions before the problems cause more serious damage.

According to the book "Traction", the metrics are enlightening to the whole team about the company's situation, as well as increasing commitment, since they can serve to create healthy competition within the organization and encourage teamwork.

Overview: Component 4 - Problems

It is normal to encounter problems. So the author Gino Wickman explains that it is essential for the leader to understand this and treat them as a form of growth rather than a sign of weakness.

The EOS system suggests that you list the problems in three separate sets:

1. Problems that can be postponed and resolved in more than 90 days. These are issues that do not need priority at the moment, but which must be identified and recorded so that they do not get lost along the way;
2. Leadership issues that need to be addressed this week. These issues should be presented and resolved during meetings with team leaders;
3. Departmental issues that must be resolved in the coming weeks, but are more local and sector-specific issues.

Identified and listed the problems, the book "Traction" now suggests a guide on how to tackle these issues in the best way:

• Identify: this involves analyzing in depth and discovering the root cause of the problem. Often, the problem presented is only something superficial caused by a much greater failure behind;
• Discuss: at this stage, everyone involved in the issue should be encouraged to give their views on the causes and to brainstorm about possible solutions;
• Resolve: once the best solution has been defined, you have to put it into practice. It is important that the resolution be well managed, with a to-do list and a deadline.

Overview: Component 5 - Processes

According to the author Gino Wickman, processes represent the way in which you run your business. He explains that this component is one of the most neglected in the system, which creates inefficiencies and inconsistencies.

Therefore, the EOS system suggests the following approach to the processes:

• Identify your main processes: the processes used by each sector of the company (HR, marketing, commercial, etc.);
• Document each of your key processes: this can be done by the person in charge of the process. It is necessary to construct a guide with the necessary procedures for its realization, so that a person who is not familiar can lead the process, if necessary;
• Preserve: that's the easy part. You should keep these documents in a safe and accessible place by everyone in the company.

Overview: Component 6 - Traction

This is the component that gives the book its name. In an analogy with a car, it would be the time when the tire rubber meets the asphalt and drives the car forward.

Basically, the idea of this component is to transform the vision established in the first stage into real results. And it is in this part that, according to the author Gino Wickman, the majority of the enterprises find the greatest difficulty.

Fortunately, the solution presented by Gino is relatively simple and is based on two pillars: priorities and meetings.

First and foremost, everyone within the organization must have specific, well-established priorities. It is important that these priorities are measured in some way to track their progress (remember the importance of metrics?).

The author believes that meetings are the "heartbeat" of the company. When well conducted, meetings serve as a way for those involved in a project to achieve the alignment needed to achieve the goals.

The book "Traction" indicates quick weekly meetings to monitor priorities and solve small problems. In addition to these, it is important to hold quarterly meetings, where your progress is reviewed according to the company's vision and priorities for the next quarter are defined.

What do other authors say about it?

In the highly recommended book "The Leadership Pipeline", authors Ram Charan, Stephen Drotter and James Noel explain what are the 7 phases of leadership and the 6 transitions between them that a leader must go through to reach an optimal level of management.

For John C. Maxwell, author of the book "Leadership Gold", the best leaders are those who know how to listen. Listeners know what's going on because they are attentive.

They learn better than others because they absorb from different places. In addition, good listeners have the ability to see other people's strengths and weaknesses better.

Finally, in "The Effective Executive", author Peter F. Drucker clarifies that executives can be brilliant, imaginative and informed, yet still be inefficient.

Effective executives are systematic. They work hard in the right areas and their results define them. They are knowledge professionals who help the company achieve its goals.

Okay, but how can I apply this to my life?

The content of the book "Traction" is largely practical, with suggestions for action to be taken on each component of the enterprise.

To successfully apply them to your organization, take the following tips:

• Develop an organization chart with everyone's responsibilities within the company;
• Establish a schedule of meetings (weekly and quarterly);
• Keep your metrics always up to date;
• Never forget your vision.

Did you like this summary of the book "Traction"?

We hope you enjoyed our summary and are able to apply the teachings of the author, Gino Wickman, to your company. Leave your opinion in the comments, your feedback is very important to us!

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