Have you ever wondered what are the key components that every company needs to master in order to grow sustainably? Today I want to share with you the lessons I’m learning from my recent reading of Gino Wickman’s book “Traction,” based on the EOS (Entrepreneurial Operating System), and how I’m applying them at SquadS Ventures.
The 6 Essential Components for Business Growth
The book highlights six essential components that any business must master in order to grow sustainably. These saudi arabia mobile phone number list components are critical for any company that wants to move forward and prosper. Below I detail each of them:
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Vision: Being clear about where the company is going.
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People: Ensuring you have the right people in the right roles.
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Data: Measuring what really matters to make informed decisions.
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Problems : Detect and resolve obstacles that limit growth.
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Process: Document and optimize tasks so that everything flows efficiently.
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Traction : Monitor progress and maintain focus on key objectives.
Let’s dive deeper into each of them to better understand how they can impact your business.
Vision: The beacon that guides the company
Vision is the first essential component that any business must master. Having a clear and well-defined vision is crucial because it acts as a beacon that guides all the company’s decisions and actions. Without a clear vision, it is easy to get lost along the way and deviate from the main objectives.
At SquadS Ventures, our vision is to build 20 B2B SaaS Startups; to do so, we will apply the EOS framework to all our companies, adapting the system to create our own SOS (SquadS Operating System). This will allow us to build solid and scalable
People: The value of having the right people
The second essential component is having the right people in the right roles. It’s not just about having talent, but about making sure that each person lives up to SquadS’ values and is in the place where they can contribute the most value. This involves constant evaluation and adjustments when necessary.
At SquadS Ventures, we are focused on having clear and well-defined processes, along with the right people executing them. This is key to the development of our three current companies: Inbound Tools, Boris Returns and Mental Test Lab. We group coaching as a trigger for personal growth are laying the foundations for continued growth and replicating what we have learned in the 17 startups that will join the portfolio.
Data: The importance of measuring what really matters
The third essential component is measuring what really matters. In a world where resource data information is power, having accurate and relevant data is critical to making informed decisions. Not only does this help identify areas for improvement, but it also allows you to monitor progress and adjust strategies as needed.
At SquadS Ventures, we use data to monitor progress and stay focused on key objectives. This allows us to make informed decisions and adjust our strategies to ensure sustainable growth.