TRACTION by Gino Wickman | Core Message

foreign [Music] ly read traction by Gina Wickman every growing business is like a five spoke wheel with a thick tire tread the five spokes represents the five essential components every business needs to survive and the tire is the execution system a business needs to gain traction and move up the growth curve strengthen the five spokes of your business Wheel by answering five questions where what how who and why might I fail first where do I want to go create a clear tenure Vision through your goal and one year Target for your company the key to consistently good business decisions is having a clear and compelling tenure three-year and one-year pitcher to help guide your decisions next what data do I need to track each week your business must have a scorecard of activities you're trying to improve weekly the scorecard is the company's heartbeat and provides a steady stream of motivation next how will I achieve my vision as efficiently as possible identify the processes checklists and systems you will use to reliably produce a high quality product or service then who is doing the work and do they get it want it and have the capacity to do it well you must ensure that everyone in your business understands their role wants to excel at it and has the time energy and skill to do it and lastly why might I fail identify and resolve any issues that could stunt your growth and kill your business the where what how who and why questions address the vision data process people and issues categories of author Gina wickman's entrepreneurial operating system EOS an easy way to see the necessity of each question category is to imagine you're a construction manager building a house first asking where do I want to go will get you to imagine the final house construction and then plan out the steps you need to take to achieve your vision like pouring the foundation and completing the house framing asking what data do I need to track each week will get you to track your man hours material costs and percent complete for each Milestone to ensure you quickly identify problems and keep your project on track asking how will I achieve my vision as efficiently as possible will get you to build Trident true processes based on past projects that allow you to build houses faster cheaper and of higher quality than other builders asking who is doing the work and do they get it want it and have the capacity to do it well we'll ensure you carefully select subcontractors you trust to get the job done and asking why might I fail well I'm sure you get the long delivery materials ordered immediately and be on the lookout for any issues that could derail your project after addressing all five questions you might be confident that your project will go smoothly but if you don't have a reliable execution system in place your host construction project will quickly go out the rails the same is true for business ventures when a business owner fails to install a system of execution within their business they lack the traction needed to move their business Vision forward and steadily move up the growth curve as author Gina Wickman likes to say Vision Without traction is merely hallucination to create a solid system of execution within your business and gain traction you need three components rocks individual numbers and a regular meeting pulse first rocks rocks are 90-day priorities Gina Wickman says human beings stumble get off track and lose focus roughly every 90 days to address this aspect of human nature you must Implement a routine throughout the entire organization that creates a 90-day world when everyone in your business has a 90-day priority that aligns with the company's Vision your business stops spinning its wheels and everyone in your business starts steadily moving forward in unison Wickman uses the term rocks to describe quarterly priorities because it brings to mind the time management analogy from Stephen covey's book first things first picture a glass jar on a table next to that glass jar are rocks gravel and sand the space in the glass jar represents the time available in your workday the Rocks represent your top priorities the gravel represents your day-to-day responsibilities and the sand represents everything else you could hit with during the day most people pour the gravel and sand in first and leave little room for rocks catch up on email have long conversations with co-workers and complete their day-to-day responsibilities but fail to do significant work that moves the business forward in any meaningful way but suppose you get everyone in your business to put their rocks in first by reserving their Peak Focus time each day to make progress on a 90-day priority that moves the business towards its vision in that case the business gains traction and your people still have enough time left over to take care of their day-to-day responsibilities and deal with whatever issues come their way during the day get all the leaders in your business to develop and distribute 90-day rocks to their teams by recalling the company's tenure Vision through your goal and one year Target and then asking what does my department maybe Finance operations or sales marketing need to accomplish in the next 90 days to hit the company's one year Target the person leading your Finance team might have a quarterly Rock to reduce accounts receivables by 10 percent the person leading your operations team might have a quarterly Rock to produce product defects by 20. and the person leading your sales and marketing team may have a quarterly Rock to hire a new sales manager or partner with an online influencer for a new product promotion campaign you must ensure that everyone in your business is focused on one to five rocks every 90 days and has new rocks for every 90-day period as Gina Wickman says the way you move the company forward is one 90-day period at a time the second component of a solid execution system is individual numbers in the early 1900s one of Charles Schwab's Bethlehem steel mills was struggling to meet its quota so Schwab walked into the mill with some Shock and asked the nearest man how many batches of refined steel his shift finished that day the man said six so Schwab drew a big number six on the floor in chalk and walked away when the night shift came in they saw the six and asked what it meant a disha person explained that the big boss came in and asked how many batches of Steel they'd produced and wrote down the number on the floor the following day Schwab walked back into the mill and asked the night shift their production number then rubbed up the six and put a seven in its place when the day shift came back to work they saw the seven on the floor and got to work immediately by day's end the day shift lead proudly rubbed out the seven and put a giant 10 in its place after a few months that Mill was the most productive Bethlehem steel mill numbers Clarity commitment and competition which increases traction and produces results as a business leader you must ensure that everyone has a number they look at each day and strive to improve if you're in retail sales your sales people's number might be sales per hour if you're onboarding a customer service agent their number might be average customer rating after customer service call the number you select should clarify what they need to focus on to complete their 90-day goal if a 90-day goal was like a cycling trip from Boston to San Francisco then the individual number would be the miles you need to put in each day to get to San Francisco one time and the third component of a solid execution system is a regular meeting pulse meetings get a bad rap but a well-run meeting held every week holds people accountable and maintains traction the ultimate traction meeting has three items on the agenda rocks issues and action plans in the Rocks portion of the meeting get everyone in the room to publicly acknowledge if their quarterly rock is on or off track when people know that there's a meeting coming up where everyone in the room wants to know how they're doing on the Rock they will start putting the rocks in their jars first in the issues portion of the meeting everyone in the room must describe two issues they're struggling with for example an alarming number on a scorecard an employee issue a client conflict or a systems problem when people open up and share the issues they're struggling with they show vulnerability and create a culture of trust in the action plans portion of the meeting the group must advise a plan to resolve the top three issues mentioned in the meeting before the meeting is over your job as the leader is to identify the issues people most fear and get people to suggest courses of action while avoiding tangents and blaming others if you see the meeting about to go off the rails ask is this helping us resolve the big issues when you hold a weekly meeting with these three agenda items people are held accountable trust their team more and are determined to solve the big issues before they slow your company's growth in the end create a growing business by solidifying the five essential components Vision data process people and issues by asking where do I want to go what data do I need to track each week how will I achieve my vision as efficiently as possible who is doing the work and do they get it want it and have the capacity to do it well and why might I fail then install a system of execution and gain traction by getting everyone to focus on 90 day rocks improve their individual numbers and hold regular accountability meetings that people leave with plans to attack the top issues that was the core message that I get from traction but Gina Wickman this book has a great business system that every business can leverage I highly recommend this book if you would like a one-page PDF summary of insights that I get there from this book just click the link below and I'd be happy to email it to you if you already subscribed to the free productivity game email newsletter this PDF is sitting in your inbox if you like this video please share it and as always thanks for watching and have yourself a productive week

Channel: Productivity Game

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Id: 21X-4j-rxLI

Length: 9min 53sec (593 seconds)

Published: Sun Mar 19 2023