445: Gino Wickman - Do You Have What It Takes To Be An Entrepreneur?

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Full show notes at www.LearningLeader.com

Twitter/IG: @RyanHawk12 https://twitter.com/RyanHawk12

Gino Wickman is the author of the award-winning, best-selling book Traction: Get a Grip on Your Business, which has sold over 1 million copies, as well as five other books in the Traction Library that have sold almost 2 million copies.

Notes:

• Keys To Sustaining Excellence:
  • Fanatical about excellence
  • Stamina
  • Endurance to stay with something
  • Drive - a desire to succeed, to win
• Gino believes that entrepreneurship is nature, not nurture (you are born with it)
• What's usually missing in someone who thinks they're an entrepreneur, but they're not? The ability to take a big risk.
• Gino's dad was an entrepreneur. His two brothers are not.
  • Gino set a goal to be a millionaire by the time he was 30.
    • He achieved that goal... And then went broke two years later.
• It took more than five years to create Traction. He worked with more than 50 companies testing the ideas. He eventually found patterns and trends.
• Delegation -- Gino obsesses over delegating at least one task for the last 30 years. This has helped him scale his business.
• The difference between a visionary and an integrator:
  • Visionary - Wild and crazy entrepreneur
  • Integrator - Run the day-to-day operations. Sometimes called the Chief Operating Officer.
• How to run better meetings? Use the Gino Wickman Level 10 Meeting format:
  • Segue – Spend 5 minutes sharing one personal best and one professional best from the previous week. No discussion; just an announcement. This helps move your team from working "in the business" to working "on the business".
  • Review your company scorecard. This is a 5-minute high-level review to make sure your most important five to 15 numbers are on track. The person responsible for the number says whether it is "on track" or "off-track". If the number is "off", move that measurement to the Issues List portion of the agenda.
  • Rock review. Take 5 minutes to review your company and individual Rocks to determine if they are "on track" or "off track." Again, if the rock is "off", move it to the Issues List portion of the agenda.
  • Customer/Employee headlines. This is a 5-minute opportunity to announce any news, positive or negative, about a customer or employee. If the announcement is an issue, add it to the Issues List portion of the agenda.
  • To-Do List. Review the seven-day action items from the previous meeting, and report whether each task is "done" or "not done." This should take no more than 5 minutes
  • Issues List. Your leadership team now has 60 minutes to identify, discuss and solve your company's biggest issues in order of priority. Solving an issue usually requires someone to take action, which becomes a task for the to-do list for review at your next meeting.
  • Conclude. Use your final 5 minutes to bring the meeting to a close, recap the to-do list, and discuss any messages that need to be communicated to the rest of the organization. And rate the meeting on a scale of 1 – 10; this helps your team self-correct. Establish the practice that anyone who rates the meeting below an "8" must explain why, and "because I never give high marks" is not an acceptable reason.
• Leadership teams should get together in person every 90 days
• What is EOS? EOS™ is a holistic management system with simple tools that help you do three things we call vision, traction, healthy. Vision from the standpoint of first getting your leaders 100% on the same page with where your organization is going. Traction from the standpoint of helping your leaders to become more disciplined and accountable, executing really well to achieve every part of your vision. Healthy meaning helping your leaders to become a healthy, functional, cohesive leadership team.
• The six key components to your business that Gino's work helps you improve:
  • Vision. Build your V/TO™ within Traction Tools and keep it easily accessible to everyone in your company. V/TO content is integrated throughout the software so that you always have the right information at the right time.
  • People. Our People Tools™ add-on (currently in Beta) bundles everything you need to manage the key People component of your business—including the Accountability Chart, People Analyzer™, LMA™, and Quarterly Conversation™ tools
  • Data. The Traction Tools Scorecard makes it easy to record and measure your company, departmental and employee numbers. Everything is located in one place, and many metrics can be automatically updated. Personalize the Scorecard according to your viewing preferences.
  • Issues. Manage and IDS™ all of your company and departmental issues in the Issues List. Flexible features make it easy to add and solve your Issues or move them to other meetings.
  • Process. It's quick and easy to attach your company's core processes to notes within Issues, To-Dos, or Level 10 Agendas
  • Traction®. With Traction Tools Rocks, you'll take your company's vision to street level, and make it real. The Level 10 Meeting™ Agenda will help you keep your Meeting Pulse™ EOS-pure.
• Life/Career advice:
  • "Let your freak flag fly." -- Be yourself. "It took me until I was 45 years old to learn this. Do it now."
    • "Know thyself. Be thyself."
    • Spend time understanding your strengths and weaknesses.