In this edition ...
Entrepreneurs Get "Vision Drunk" - 5 Things to Balance the Bravado... Will The Challenge Be Met? ... Solving the Aunt Matilda Issue ...
Here is your weekly installment of Tuesday Traction Points - Key things I'm seeing and experiencing that give me, and the entrepreneurs I work with, Traction!
Entrepreneurs Get “Vision Drunk”
Five Things Will Balance the Bravado
“Entrepreneurs get ‘Vision Drunk’ & it’s what creates the 90% failure rate of businesses” says Gravy Founder and CEO Casey Graham. “It’s what makes us do stupid things like quit our jobs & start the business. It’s what makes us believe our product can make it. It’s what makes us pitch the investor with massive upside. But what about the reality of business?”
What About the Reality of Business
I love Casey's final question! I frequently tell my Entrepreneurial Operating System® (EOS) clients that “Vision without Traction is just Hallucination.” The ‘reality of business’ says we need to bring the vision down out of the clouds, and execute with discipline and accountability to avoid becoming a statistic.
Click here to learn five powerful ways to balance the bravado of Vision Drunkenness...
Quote I Am Pondering
"If we ask what determines whether a challenge will or will not be met, the answer is that this depends upon the presence or absence of initiative, and of creative individuals with clarity of mind and energy of will, capable of effective responses to new situations."
Authors of The Lessons of History
Solving The ‘Aunt Matilda’ Issue In Your Family Business
By Sara Stern - August 27, 2020
Whether it’s an ‘Aunt Matilda’ or a ‘Cousin Jack,’ EOS reminds us to focus on structure first, people second. Of course, everyone needs to be in sync with the business’s core values and everyone needs to GWC™ their seat, family or not!
Sometimes the right person for a seat in your family business is the right person… sometimes it’s not.
Click here to hear Certified EOS Implementer® Sara Stern explain how using the Accountability Chart can give you crystal clear vision in finding the right person for the right seat in your business. (2 minutes)