Traction Book Summary: Get a Grip on Your Business

by Accessory To Success December 23, 2020

Traction Book Summary: Get a Grip on Your Business

Table of Contents app: Jump Links

Main Takeaway

If you are a business owner or leader with a reasonable amount of success, you will find Traction by Gino Wickman to be relevant and actionable. One of the best business books available. There are some recommendations from the book which you will want to implement before you even finish it.

Traction systematically and logically breaks down what you need to do in order to have a successful company. The book drives home some brilliant points on how to get a grip on your business and gain traction. It provides an EOS (Entrepreneurial Operating System), a framework, to run a business well. The simplicity of this system and how to implement things in a way to get best results in a short amount of time had me totally hooked. EOS is similar to what you might find in the book E-Myth, but provides different strategies and tactics to deploy as well.

It is a book that makes you think and introspect your work and business strategies. I am a big fan of brand books which give me a boost to look beyond my comfort zone, take away actionable ideas and get down to implementing them.

What You Will Learn

  • “The Entrepreneurs Operating System” or EOS – this will teach you build systems and implement the points mentioned below
  • Importance of clarity of vision
  • How to put right people in the right seats
  • Why have measurable data and scorecards to keep track of personal goals and overall goals of the company
  • How to approach, prioritize and deal with issues arising in the business
  • Identify and understand core processes
  • “Rocks” or 90 day targets, wherein you will attain traction if the above elements are implemented with discipline

The Book Summary

Gino walks you through bringing back into focus core values and marketing strategy. Some great structural tools which you can actually print out and fill out are provided to help you keep perspective.

Traction Book Summary Get a Grip on Your Business Quote 1

Structure and Plan: Companies commonly envisage and devise short-term and long-term working plans. Traction throws clarity on what a company’s three-year plan should include and why. It will get you clear on the following:

  • How to define what you want and where you want to be
  • How to come together with your partners and colleagues to decide where you want to be
  • How to arrive at the crux of your plan and strategy
  • Define the tactics to adopt to get there
  • Determine what reverse engineering can be done to improve, improvise and reach your target destination
  • Create monthly, quarterly, half yearly, annual, three year and five year plans for your company
  • Organizing the rocks to be accomplished and defining the issues that need to be tackled and overcome
  • How to identify the unique capabilities of your associates, partners and employees and position them in the right slots within the company to extract their maximum potential

Traction Book Summary Get a Grip on Your Business Quote 2

Along with prompting you on the right questions to ask to find this information, Traction also provides you with the right organizational tools needed to organize and document it all. Another book that assists in all of this with a goal of more independence rather than heavy active involvement is in the business is Ready Fire Aim.

Recharge Offsite: The book stresses the importance of company management and advisors going offsite for a long meeting or brainstorming session. Wickman insists that this should be offsite, away from emails and office calls for at least eight hours, every quarter. The intention is to focus and discuss your company outlook and vision. Some great examples of companies who have implemented and benefitted from this are given. For more success stories and helpful insights you might enjoy the book The Messy Middle, written by the founder of Behance.

Company Pillars: This wonderful entrepreneur book is a study of common sense. Visionaries, Integrators and Operators are the people who carry the burden of the company on their shoulders.

Traction Book Summary Get a Grip on Your Business Quote 3

Visionaries are the people who propel the company forward into the future using innovative and path breaking ideas and courage.

Integrators focus on the profitability and achievability of the various plans evolved, keeping a firm eye on the finances and operations of the company. This includes sales and marketing which generate business.

Operations and product managers oversee quality to ensure you provide best services and products and customers are satisfied. This Administration team looks after the overall running and infrastructure of the business. Finance takes care of the money flow, expense and budgeting.

These pillars play a vital role in helping to demarcate roles and responsibilities. Understanding what kind of person you are will allow you to appreciate your business partners or associates for their unique perspective. Another book to help you look at your business from a different perspective is Built To Sell.

The point of defining Visionaries, Integrators and Operators is the ability to tap into the capabilities of people by putting them in the roles best suited to them. Understand that it is perfectly fine if everyone is not involved in everything but have specific and specialized roles. The bottom line should be efficiency in what they do and not to cultivate a team of ‘Jack of all trades and master of none’, but rather fit the right people in seats perfect for them. There is a great deal of discussion about the value of generalists in the book Range.

Traction Book Summary Get a Grip on Your Business Quote 4

Gaining Traction: Growth focused smaller companies need to address the problem of overcoming obstacles that hinder their progress live organization and focused goal setting before they devise marketing strategies even. They need traction to scale up. This book will help. Another book to mention is Building a Storybrand, which offers powerful marketing insights.

Gino gives a great org chart from companies that took his tools and applied them. The best way to scale up is to work to your maximum capacity, then hire somebody to share the load and then again work till you hit maximum capacity and hire.

About The Author

Gino Wickman is the author of the bestselling book, Traction. He is passionate about helping people get what they want from their businesses. To fulfil his passion, he created the Entrepreneurial Operating System® (EOS), a holistic system. EOS, when implemented in an organization, helps leaders run better businesses, get better control, have better life balance, and gain more traction—with the entire organization advancing together as a healthy, functional, and cohesive team.

He is also the founder of Entrepreneurial​ Leap which is devoted to helping entrepreneurs-in-the-making understand their genetic makeup and give them a huge jump-start, along with a clear, simple path to fully realize their potential.

Gino has delivered over 1,900 EOS full-day sessions with entrepreneurial leadership teams. He spends most of his time as an EOS Implementer, working hands-on with the leadership teams of entrepreneurial companies to help them fully implement EOS in their organizations.
Accessory To Success
Accessory To Success

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