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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Traction summary
Get a Grip on Your Business
14 mins
Brief summary
Traction by Gino Wickman is a business book that presents a practical approach to structuring and managing a company. It provides a step-by-step framework for identifying and solving common business problems, such as lack of communication, low growth, and poor performance.
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Traction
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Key idea 1 of 6
Guide your company toward success by defining clearly what it values and what it seeks to provide.
When we reflect on Steve Jobs’s tenure at Apple, it’s clear his work inspired many people. After all, his goal was to build a company that didn’t just create technology but improved humanity.
While the goal of the Entrepreneurial Operating System (EOS) isn’t as lofty, its powers shouldn’t be underestimated.
This entrepreneurial tool is like an abbreviated business plan, seeking answers to a series of questions to get your company on track. It has six steps.
The first is to define a vision for your company.
Your vision will guide every other process and decision in your organization, which means that it needs to be crystal clear. It will define your organization, where it goes and how it gets there.
Beyond that, your vision needs to be understood and shared by everyone in the organization. If it isn’t, your employees won’t move or act in concert.
Finding a vision begins by defining what you want to be like as an organization. To do so, have your leadership team identify two things: your core values and your core focus.
Your core values are three to seven fundamental principles by which your company is guided.
For example, among the core values of American restaurant chain Zoup! Fresh Soup Company are a “can do” attitude and a passion for the company’s brand. These values determine who the company hires as well as how it handles staff, clients and business partners.
Once you’ve defined your core values, you can move to your core focus by defining what your company seeks to provide. Or, to put it another way, which needs your company wants to satisfy.
Why is defining this focus important?
Let’s look at laser printer service and supply company, Image One. The company faced problems when it expanded its business into computer networking.
Amid the turmoil, company executives reminded themselves of Image One’s core focus: to simplify the printing environment of its clients.
So they decided to ditch the computer division and stick to their core focus. Ever since, the company has thrived, experiencing an annual average growth rate of 30 percent.
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Key ideas in Traction
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What is Traction about?
Traction is your guide to running a robust, thriving business. These blinks explain how a valuable tool called the Entrepreneurial Operating System (EOS) works and how you can use it to build your business.
Traction Review
Traction (2012) by Gino Wickman is an essential read for anyone looking to take their business to the next level. Here's why this book stands out:
- With its practical, actionable strategies, it equips readers with the tools they need to gain control of their business and achieve sustainable growth.
- The book combines real-life examples and case studies to demonstrate the effectiveness of its methodologies, making it relevant and compelling.
- Through its engaging storytelling and straightforward approach, Traction makes the journey of improving business processes and increasing productivity anything but boring.
Best quote from Traction
If you try to please everyone, youre going to lose your ass.
—Gino Wickman
Who should read Traction?
- Students of business management
- Entrepreneurs and executives looking to boost growth
- Anyone wanting to start a small business
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Traction FAQs
What is the main message of Traction?
Get a grip on your business by implementing the Entrepreneurial Operating System (EOS) principles.
How long does it take to read Traction?
Reading time for Traction varies, but with the Blinkist summary, it can be read in just 15 minutes.
Is Traction a good book? Is it worth reading?
Traction is worth reading as it provides practical tools and strategies for business growth and success.
Who is the author of Traction?
Gino Wickman is the author of Traction.
What to read after Traction?
If you're wondering what to read next after Traction, here are some recommendations we suggest:
- The Idea Is the Easy Part by Brian Dovey
- Either/Or by Soren Kierkegaard
- Walmart by Natalie Berg and Bryan Roberts
- The Monopolists by Mary Pilon
- Moore’s Law by Arnold Thackray
- Buddhism – Plain and Simple by Steve Hagen
- The Upside of Your Dark Side by Todd Kashdan and Robert Biswas-Diener
- When Genius Failed by Roger Lowenstein
- Stop Self-Sabotage by Dr. Judy Ho
- In the Realm of Hungry Ghosts by Gabor Maté