Now that you have your Vision set, the next key step in the EOS process is Traction – taking that Vision and breaking down what the next year needs to look like to achieve that Vision.
One-year plan
Starting with a one-year plan, identify the Revenue, Profit, and any other measurables you are targeting. Generally (strive for 80%), you should try to have a corresponding measurable for each one listed in your 3-year picture. If you have headcount goals, operational metrics, or other outcomes, think about what good progress would look like after one year. Ideally, you should be planning these metrics in line with your financial year, so that you can have a consistent target for Revenue, profit, and any other financial metrics.In addition to the measurables, generate Company Goals for the year. These are different than the quarterly rocks discussed in the weekly L10 meeting – they should set the focus for the entire year, and many Rocks will be related to the completion of these goals. Make sure they are SMART goals within your control. Too often, companies have set goals that are outside of their control (depending entirely on a customer or 3rd party decision) or have too many unknowns and end up being incomplete.Quarterly Rocks
With the overarching goals for the year set, now take the time to focus on the next 90 days – what are the top priorities? At this stage, take the time to really brainstorm as a team what could be a Rock. Complete a SWOT analysis of your company or department:- Strengths – Internal; What are we doing well? What makes you unique?
- Weaknesses – Internal: What is preventing you from performing at your best? Where can you improve? What resources or attributes are lacking?
- Opportunities – External: What things do you not have control over but could benefit from? What could give you a competitive advantage?
- Threats – External: What things do you not have control over that could harm your organization? What poses a risk to your organization today?
Issues List
Next, let’s move on to the Issues List – where the rubber meets the road. Populate it with issues as they arise and review it weekly.Some companies maintain a Long-Term Issues List or a Shelf, for Issues that don’t need weekly discussion. This can be effective in gaining better focus – talking about and potentially changing your customer strategy weekly can be disjointing and lead to confusion – but these topics may still need regular review.Keep in mind that not all Issues need to be negative – they can also be opportunities, reflection points, or other topics. Any items from your SWOT analysis can be added to your Issues list as well:
- Take one of your strengths and use it as a reflection point – how could you leverage that strength in other areas?
- Look at the market opportunities – is there more that you should be doing? What would trigger you to explore those opportunities further?
You will spend a lot of time going through the Issues list every week at the L10 meeting. All participants should feel empowered to add to the Issues list as topics come up, rather than waiting for the next meeting. Additionally, many teams start their Issues List discussion with a Keep/Kill/Combine process – quickly reviewing the list if the Issue should be kept, removed entirely, or combined with another duplicate or strongly related issue. This helps keep the Issues list manageable.
Next Steps
With the three pieces of Traction complete – One year target, Quarterly Rocks, and Issues List – you are ready for the next year! Stay focused with your L10 meeting and make progress as a team!
If you are looking for additional EOS Support, check out our EOS Self-Implementer Group – a forum with weekly workshops to help you implement EOS at your business.