The world of entrepreneurship is an exciting and dynamic one that involves quick thinking and determination. Competition is high, oversaturation of the market is common, and ample funding is necessary. In truth, we’re all just trying to make it.
photo credit: Traction Process
The official definition of entrepreneurship is the process of discovering new ways of combining resources. An entrepreneur is always in search of something new and exploits such ideas into gainful opportunities by accepting the risk and uncertainty with the enterprise.
In this article, we’re delving into the world of entrepreneurship from an operating system perspective. This is more than a simple CRM software. It forms the backbone of your business. We’ll answer what an EOS is and how recruiters can help get you to where you want to be in your business journey.
What Is an Entrepreneurial Operating System?
An entrepreneurial operating system, or EOS, is a set of simple, practical, real-world tools to help entrepreneurs and leadership teams get what they want from their business. This system is designed for companies comprised of 10-250 employees.
The entrepreneurial operating system outlines six key components:
- Vision: This refers to getting the entire team on the same page about where the agency is going, and how it is going to get there.
- People: Make sure your team is comprised of talented individuals in the right roles.
- Data: This refers to manage the business based on concrete numbers and data to have a predictive pulse on the business.
- Issues: Successful people and businesses are very good at pinpointing their pain points and coming up with procedures and plans to help solve them.
- Process: Process helps you systematize your business so that it becomes more efficient, more effective, more manageable and ultimately more profitable. Having a standard process in place will eliminate time spent solving problems.
- Traction: Traction is all about executing what is most important in the business.
What Do Entrepreneurial Operating System Recruiters Do?
EOS recruiters essentially help you bring in top talent to your entrepreneurial venture, ensuring each candidate’s talents, goals and temperaments align with the key components that make up the EOS process.
Here’s how the process works. Recruiters follow three powerful steps to ensure each employee hired is talented and dedicated to the business venture.
- Step 1: Finding this talent by performing extensive research, relying on expert sourcing experience, and tapping into an engaged network
- Step 2: Vetting and selecting candidates through a custom executive interview process. This involves determining the client’s best culture and value fit. Recruiters conduct thorough candidate assessments for vetting.
- Step 3: Retaining top talent so that they stay with the company. This is done by building optimal onboarding procedures and completing periodic reviews.
Key Takeaways from Implementing an Entrepreneurial Operating System
Regardless of whether you self-implement EOS or hire an EOS recruiter, there are several key takeaways it can teach us about business:
- Change necessary. Keep your business consistently up-to-date with the latest operating systems, tools, practices, and practice ongoing development for your team and business
- Define expectations clearly.
- Every company needs structure. At some point, your agency will either hit a ceiling, stop growing or become less profitable and more inefficient because it doesn’t have the right structure of roles and responsibilities. Be sure every person at every level is executing and adding value to the company.
- Implement systems that ensure you have the time and energy to invest maximum creativity and strategy where it matters most.
- Delegate whenever possible. There’s only so much the business owner can take on by themself, especially as the business continues to grow. Leaders need to delegate some of their authority and responsibility to help take their venture to the next level.
Business Goals and Objectives Entrepreneurial Operating Systems
By now you know that EOS systems are all about structure. Here’s how an EOS can tie to your business goals and objectives.
- Strategy: People strategy aligned with business strategy
- Process: Set management tools and procedures
- Structure: Organization and accountability chart for the present and future
Entrepreneurs who have successfully started a business tend to have a 30% success rate in their next ventures. Start off on the right foot and hit the ground running with a strong EOS in place.