A Discussion on the Entrepreneurial Operating System (EOS)

On this week’s podcast episode of Quantum Growth for Financial Advisors, Jena and I delve into the concept of the Entrepreneurial Operating System (EOS), sharing my firm's experience with it and its prevalence among successful entrepreneurial businesses.

We discuss the roles of a visionary and an integrator within a business and explore how EOS assists in defining and achieving the organization's vision. Additionally, I explain the Vision Traction Organizer (VTO) and its role in clarifying the company's vision, mission, and values.

Underestimating Long-Term Potential

I discuss the common tendency to overestimate short-term accomplishments while underestimating long-term potential. Using my own journey as an example, I explain how I achieved significant growth over a 10-year period, challenging the notion that 10x growth is easier than 2x. The discussion ties into the utilization of EOS (Entrepreneurial Operating System) and the importance of thinking big and differently.

Strategic Planning and Goal Setting

I delve into the strategic planning process, highlighting the need to envision long-term goals and then work backward to identify the necessary steps to achieve them. I introduce the concept of “rocks” as specific quarterly focus areas for individuals, emphasizing the importance of keeping the number of rocks manageable to ensure effective execution. I also seek input on the key considerations for defining rocks and their role as leading indicators.

Leading Indicators and Next Best Actions

Jena and I discuss the significance of leading indicators and next best actions in achieving long-term goals. Jena emphasizes the need to tie goals to specific actions, such as drinking more water or going to the gym, rather than focusing solely on the overall goal. I highlight the importance of identifying the next best action to bring long-term visions to life, and the potential need to reduce the size of a client base or develop a junior advisor to create space for larger goals.

Setting and Achieving Goals through Rock Planning

I discuss the significance of picking the right rocks in rock planning, emphasizing the need to focus on habits that will contribute to long-term goals. I explain the concept of carrying forward unfinished rocks to the next quarter and the importance of hitting those rocks 80% of the time to make significant progress. Jena expresses the challenge of narrowing down the core focus and juggling multiple important tasks, seeking advice on how to decipher between important tasks.

Increasing Revenue through Client Engagement

I share a strategy for increasing revenue through client engagement by focusing on financial planning fees. I advise having in-depth conversations with clients about the value of comprehensive financial planning and suggest setting a goal for the number of client conversations per week. By implementing this approach, I explain that advisors can drive new recurring revenue and potentially improve the client experience.

Accountability and Goal Setting Process

I emphasize the importance of self-leadership and accountability in achieving business goals, particularly in the areas of financial planning and referral asks. I introduce a process for setting and tracking goals, highlighting the significance of identifying, discussing, and solving challenges within the team. Jena expresses agreement with the approach, emphasizing the value of tracking progress to pivot and improve performance.

Jonathan S. Kuttin, CEO of Kuttin Consulting Group , is a highly recognized financial advisor who has received numerous accolades and who has coached thousands of advisors on creating quantum growth in their management practice.

The Financial Advisor Success Syndicate is a free group for qualified financial advisors and wealth managers who want to learn and grow alongside some of the best thought leaders in the industry.

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