EP022: Six Clear, Simple Components to Strengthen A Company’s Core Values with Mike Paton

Entrepreneurial startups often find themselves maturing before they’ve had time to analyze their growth. The business structure builds itself based upon its initial framework which may no longer be applicable to the company’s present challenges.

Mike Paton, the co-author of Get A Grip, details the key components of the EOS model and describes the tools used to strengthen a business to ensure long term success. He details the steps involved in identifying a company’s vision and how to execute it.

Key Takeaways:

[1:24] What are the 6 key components to an entrepreneur's business?

• Vision


• People


• Data


• Issues


• Process


• Traction

[4:31] The Vision Component is ensuring the entire organization is working towards the same goal

[7:26] Identifying the goal starts with uncovering the 8 core values of the organization

• What are the core values of the organization?


• What is the core focus of the organization?


• What is the company’s 10-year target?


• What is the marketing strategy?
  
  
  
  • Target market
  
  
  • Three uniques
  
  
  • Proven process
  
  
  • Guarantee                                                                                    
  
  
  
  

      5.) A 3-Year strategic plan, which is tied to the fiscal year

      6.) 1-year plan - Predictions & goals for the upcoming year

      7.) Quarterly rocks - Assigning ownership to company “rocks”

      8.) Company’s issue’s -  The 50 other things you want to tackle

[29:53] The People Component is having the right people & right seats

[31:08] The accountability chart enlightens leaders to consider structure over familiarity

[36:16] Executing your vision can bring about implementation issues          

[41:14] Access to the tools we discussed in this episode

Mentions:

EOS Implementer

Get A Grip

Achieve Traction

@praxentsoftware