Without EOS, many family businesses run on SOS (aka the self-operating system). Continually in crisis, these family businesses always felt like they were in danger and needed to be rescued.
I’m a big fan of investor Alex Hormozi’s posts; he’s written great tongue-in-cheek tweets about how to stay poor. Here are the top 10 ways to fail at running your family business on EOS.
When many people think about family businesses, they associate them with fragility. After all, big-box stores shuttered countless mom-and-pop shops on Main Street, right? In my experience, this line of thinking doesn’t hold water. I’ve found that most family businesses are agile, not fragile.
During the past quarter, I kept running into a strange situation that surprised me. I had the same conversation with three leadership teams of family businesses. All three family businesses wondered if all departments should follow EOS concepts when a company runs on EOS.
“What, I can be fired?!” I’ve heard this from owners more times than I can count. However, I’ve only heard it once when working with my Entrepreneurial Operating System® (EOS®) clients. If someone asks this question in a session, we quickly look at the Partnership Rules of the Game.
Anytime someone works in a business experiencing problems, they experience stress. When family members work together, they deal with added layers of stress. When working in a business together, they need a simple way to talk about these complicated stressors. Enter the Vision/Traction Organizer™ (V/TO™). I’ve seen how using the V/TO helps family businesses in small towns overcome these difficult scenarios and thrive.
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