Summit OS® Blog
Business Growth and Strategy Insights
Running a successful remote team might seem like an impossible task. As a business owner who manages a remote team myself, I can assure you, it’s not only possible but also potentially more efficient—provided you adapt your management style to the unique challenges of remote work. Contrary to what some...
Have you ever thought about partnering with someone to jumpstart your business career? I have always thought that a partnership, particularly a 50-50 one, is a challenging one. Why? See, two individuals could have two different talents and styles of management. So, both need to learn how to work together...
Grandma Ica Shares Her Values When I was sixteen, and our parents become more prosperous, they decided to build a house for our family. My mothers’ parents sold their apartment and moved in with us. There was plenty of room and since they had great personalities, the cohabitation worked surprisingly...
Several of my clients have complained over the years about how tricky it is to hold their direct reports accountable. Impatient CEOs try to fix perceived problems or lack of information by going direct to employees reporting to others. We call these actions end-runs and they have the potential to...
Following last week’s blog on “Fixing Your Financials”, Selling Your Strategy is the second of five grooming strategies. You should execute as many of these as you can when preparing your Buyable Business for an equity harvesting transaction. Selling Your Strategy is made up of seven tactics, the four of...
In my upcoming book, that I will reveal soon, there is a chapter about grooming a business for sale including 5 strategies. The first of these I call: Fixing Your Financials. Here are the four areas to focus on to cover this strategy. Provide Three Years of Financials The financial...
Here is a real-life story about what grooming your business looks like. János Gréczi is the quintessential self-made entrepreneur. He started importing apparel and nonalcoholic beverages after the fall of the Iron Curtain, and over time he developed the latter concern into a full-fledged beverage distribution business. Later he invested...
I believe there are three ways to grow a company. Each is valid and a fit for a different type of entrepreneur. Each has the potential to make a business buyable. Let’s look at each approach in turn. Build Your Business by Buying a Franchise The first approach is the...
As you may have guessed a “Buyable business” is a company that others find valuable and would want to buy. Doesn’t that seem redundant? Why should anyone want to build an “unbuyable’ business? Why would they want a business that does not come across as valuable and desirable to others?...
In the past 10 days, three of my Entrepreneurial Operating System (EOS) clients arrived at exactly the same conclusion: “Don’t let Covid be our excuse”. This is remarkable and obvious for different reasons. Let me explain. Let PPP be our bonus It is remarkable to see the resilience of American...
I recently met with a construction company committed to using the “OKR” (Objectives and Key Results) approach. This reminded me that the Entrepreneurial Operating System (EOS) uses a modified version of OKRs, called Rocks. In my experience Rocks work better than OKRs, most of the time. The reason is that...
“Can you find me the EOS of software development?” – asked Nick Beavers, the owner of a prospering software company. “I have been looking for a simple self-sustaining system for writing code and was wondering if there was one out there.” — he explained. I pinged my EOS Implementer friends...
