Traction: Get A Grip On Your Business By Gino Wickman: Summary and Notes
1-Sentence Summary: Traction by Gino Wickman is an informative guide on building a firm using the Entrepreneurial Operating System (EOS).
3-Sentence Summary: Wickman works with entrepreneurs who want to expand their businesses using the Entrepreneurial Operating System and gives them the tools to do it. He discusses the components that must be strengthened for a firm to adapt and prosper. It is a classic business self-help book that will undoubtedly be useful to you.
Favorite quote from the Author
“All success organizations and companies have a system — a system that they flow — throughout the organization.”
Main takeaways from Traction: Get a Grip on Your Business by Gino Wickman.
- Develop your vision
- Surround yourself with the right people
- Be open-minded and growth-oriented
- Collect enough data
- Build a solution-oriented environment
Lesson 1: Develop your vision
“Clarify your vision and you will make better decisions about people, processes, finances, strategies, and customers.” — Gino Wickman
According to Wickman, successful firms have created appealing visions for their futures. They’ve given their staff a clear image of where the company is going and how they’re going to get there. This is because when everyone is pulling in the same direction, it produces a laser-like focus that drives the business ahead.
Unfortunately, all too frequently, this vision is not evident to employees. It causes confusion, which leads to misdirection and irritation until the vision is finally lost. As a result, you should work hard to build your vision and convey it to everyone in the business.
Prepare to replay the vision several times until it sinks in. Better yet, invite staff to voice their thoughts and concerns to increase devotion to the objective, and you will cement your vision. Once you’ve done that, you’ll be on the correct route for your company to get traction.
Lesson 2: Surround yourself with the right people
“Life is much easier for everyone when you have people around you who genuinely get it, want it, and have the capacity to do it.”
Wickman highlights the need to put the right people in the proper positions so that your company can get traction. The right people share your basic beliefs, and the appropriate seat is where those individuals can perform at their best. They will fit and thrive in your company’s culture since they have been taught and are suited for the jobs you assign to them. Furthermore, you will love being around them, and they will improve your organization.
Wickman advises individuals to utilize the People Analyzer, an EOS tool that will cut through the muck of personnel decisions to show you who is the best fit for your firm. It will also allow you to see your organization from a new perspective and solve human issues holding the company back. So, by attracting the right people to your organization, you will have the team you require to gain momentum and achieve your objectives.
Lesson 3: Be open-minded and growth-oriented
“What you need to show is how the new system will create efficiencies to make their lives easier and the company more successful. They need to understand how the process ties together into a complete system”
To gain traction, Wickman recommends that individuals be open-minded, growth-oriented, and vulnerable. This is because, to progress, you must be open to new and diverse ideas. You must be willing to ask for and accept assistance. Most importantly, you must recognize your company’s strengths and weaknesses and delegate authority to those more skilled than you. People and clients will like you if you have an open mind and are vulnerable, and you will be able to go on the path to develop traction for your firm.
Begin immediately by lowering your guard and seeing your business for what it is. Remove the mask from your leadership team and allow sincerity.
Lesson 4: Collect enough data
“Use it! You must review your scorecard every week to ensure that you are on track for your vision. You will soon see 13 weeks at a glance which will enable you to see patterns and trends.”
Without facts, you will be operating your firm on subjective ideas and emotions. Instead, utilize a scorecard to receive weekly updates on your business so you can keep your finger on the pulse of our organization, spot real-time patterns, and make wise decisions. Its collection will assist with more than simply study of business trends.
Data will be necessary for teams inside the firm to understand business dynamics and devise a plan to boost business statistics. On the other hand, scorecards will help you get data and develop measurements for every role to drive ongoing improvements.
Lesson 5: Build a solution-oriented environment
“When everyone follows their process, it’s much easier for managers to manage, to troubleshoot, identify and solve issues and therefore grow the business. The clear lines enable you to let go and gain more control”
The ability to address and solve organizational difficulties as they develop is the next critical component of gaining traction. It is human inclination to postpone difficult decisions. The hesitancy can stifle growth and irritate the firm and its structure.
So, what are you going to do?
You should create a solution-oriented approach to assist you in maintaining process lines clean and guarantee your organization does not face ongoing challenges. This is because your capacity to solve difficulties is directly proportional to your ability to succeed. The better you are at problem-solving, the more successful your company will be.
Wrap up
Traction: Get a Grip on Your Business is an excellent book that you should read. It’s entertaining, intelligent, and provides a realistic approach to overcoming the most typical obstacles that entrepreneurs confront. Don’t pass up this opportunity.
Who would I recommend this book to?
This book is for the 20-year-old who wants to create their vision, the businessman who wants to broaden his mind and grow his firm, and everyone who wants to learn how to establish momentum for enterprises.
