Getting Clarity and Motivation by Running on EOS™
By Running on EOS, LAUFT not only survived multiple pandemic lockdowns but came out prepared to change its industry completely.
CASE STUDY:
LAUFT
About the Business
Business Name
Industry
Flexible Workspaces
Services/Niche
Software
Location
Toronto, Canada
Company Size
35 (and growing)
Doors Opened
January 2017
Began Running on EOS
September 2020
Growth Since Running on EOS
360%
Revenue
2023 195% increase over 2022
EOS Implementer
Meet their Founder
Graham Wong
Founder and Visionary, LAUFT
Graham Wong, LAUFT founder and Visionary, always wanted his Toronto-based flexible workspace company to provide more than just a shared space. He sought to maximize the customer experience at LAUFT locations. By Running on EOS™, LAUFT not only survived multiple pandemic lockdowns but also emerged prepared to change its industry completely.
Meet their Implementer
Andrew Turner
Certified EOS Implementer®
Andrew is a lifelong entrepreneur who is fascinated with building better businesses, maximizing productivity, and fostering continuous improvement. He started his first company at 26 years old, which became the 7th fastest growing start-up in Canada and made the Profit 500 list for seven straight years.
Business Frustrations
Lack of Control
Doing all the things alone
Graham and his Integrator™, Jesse Sharratt, shouldered the responsibilities for everything, including product development, sales, marketing, project management, legal, insurance, finance, and human resources. Operating outside their areas of expertise, the leaders found themselves spinning their wheels with little support from their inexperienced staff.
Hitting the Ceiling
During LAUFT's early years, things had grown quickly - maybe too quickly. Soon, Graham and Jesse were stuck going through the day-to-day motions but never felt like they were getting ahead. Despite the leaders' shared passion to keep expanding, they lacked the clarity to reach the next level and often got lost in big dreams instead of focusing on the day-to-day logistics.
Profits Plummet
How Does a Shared-Space Company Survive COVID?
With all eight locations closed by COVID lockdowns, LAUFT had to figure out how to survive. After all, their business depended on strangers coming to a shared space. Many of the largest coworking companies in the world went bankrupt. LAUFT suffered painful staff layoffs and watched its valuation shrink.
EOS Solutions
When first introduced to EOS® in September 2020, Graham and Jesse found the simplicity, clarity, and transparency resonated with them. LAUFT received the most value from:
The Vision Component™
The Vision/Traction Organizer® (V/TO)
Knowing where they wanted to go and how they were going to get there helped Graham and Jesse focus on the smaller steps to achieving their big goals. The V/TO® also helped them stay focused during pandemic chaos and business fears.
The People Component™
The Accountability Chart®
Forgoing a standard organizational chart, Graham and Jesse created the structure they needed to achieve their visions and worked to put the Right People in the Right Seats. The formalization brought clarity.
Open and Honest Communication
Rather than putting up the false fronts like typical startup leaders, Graham and Jesse ditched the fear-based mindset. They embraced integrity and transparency with their investors, their staff, and, most importantly, with each other.
Delegate and Elevate®
By forming a leadership team and building trust in its members, Graham and Jesse regained a sense of control over their time and energy. They let their experts take on the daily tasks that had been pulling them away from growing the business.
Gaining Traction®
Graham and Jesse adopted a new abundance-minded approach and became more internally focused. EOS gave them an avenue to look at what they were doing, how they could adapt it, and where they needed to pivot. As the Integrator, Jesse thought about how to take Graham’s visions and make them reality.
With the dedicated discipline and clarity that EOS brought to the team, LAUFT made itself more valuable by devoting time to developing and perfecting its industry-shifting software technology. That led to a flexible workspace solutions contract from the government.
“Maybe you can’t change the world, but you can change the world for the people on your team,” Jesse said. “And you can set an example. EOS gave us an avenue to look at what we were doing, how we could adapt it, and where we needed to pivot. And it gave us ways to communicate that effectively with our staff.”
More About Lauft
Podcast Feature
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RSS Feed
Blog
Why We Run on EOS®
“One of my favorite things to see during this journey is how people step into roles when you give them the space to do it,” Jesse said. “Using EOS Tools taught us to trust people and expect them to show up for us. And they have.”
“Our motto is locally grown, globally known,” Graham said. “We strive to be the ‘Starbucks of space with an Uber-like sensibility.’ Our 10-year goal is to host 100 million sessions. EOS has given us the clarity and motivation to achieve it.”
Resources Mentioned
Find these resources and more in the free downloadable EOS Toolbox™
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