Breaking Through the Skill Wall with EOSOct 31, 2023
The Entrepreneurial Operating System (EOS) is a framework developed to help entrepreneurs increase the effectiveness of their businesses. It involves setting clear goals, establishing key processes, and building strong teams. It also requires maintaining good communication between all team members, and ensuring that everyone is working toward the same goals. If you know us here at ProCFO Partners, you know we subscribe to all these ideas with clients we work with. But there’s something else EOS can help with – breaking through the skill wall. Let’s explore this more.
Problem of Skill Wall
The skill wall occurs when a business has reached a certain level of success, but is unable to progress further due to a lack of certain skills. This can be a frustrating experience, and can lead to stagnation or even decline. Choose your metaphor – you hit a ceiling or you’re face-first into a wall. It’s keeping you from moving from where you are to where you want to be. In the case of the skill wall, it’s a function of not having the necessary skills among your resources.
How EOS Helps Address Skill Wall
Fortunately, EOS provides a number of tools to help entrepreneurs break through the skill wall. Among them is to establish key cadences. These are regular meetings and processes that ensure everyone is on the same page and working towards the same goals. This helps to identify any missing skills and develop strategies to acquire them.
Identifying Missing Skill Sets
Once key cadences are established, entrepreneurs can begin to identify any missing skill sets. This might include technical skills such as coding or data analysis, or interpersonal skills such as communication and leadership. Once the necessary skills are identified, the next step is to find ways to acquire them.
Fractional Models to Acquire Necessary Skills
The fractional model, like ours at ProCFO Partners, involves hiring experts on a part-time or project-by-project basis, rather than committing to a full-time employee. This eliminates the need to pay a salary and benefits, and can be a more cost-effective way to acquire the skills your business needs.
Benefits of Fractional Models
Fractional models offer several benefits for entrepreneurs and business leaders. First, they provide access to experienced professionals who can provide the expertise needed to break through the skill wall. Second, they allow businesses to remain agile and flexible. And third, they can help businesses scale more quickly. Gone are the headaches and overhead of onboarding, engaging in potential company politics, or maneuvering around difficult-to-do tactics in order to achieve strategic success. With a fractional expert you’re engaging the experience and expertise you need, when you need it.
Power of EOS + Fractional Model
The combination of EOS and fractional models can be powerful for entrepreneurs. EOS provides the framework for setting goals, developing processes, and building teams. The fractional model helps acquire the necessary skillsets to break through the skill wall. This combination can increase agility, and open up greater potential for business growth.
When EOS is paired with the fractional model, businesses experience a synergetic boost. EOS lays out the blueprint for structuring operations, honing in on objectives, and creating cohesive teams. Meanwhile, the fractional model seamlessly fills the gaps, ensuring that companies don’t hit a talent ceiling. Instead of investing heavily in full-time experts, businesses can leverage specialized professionals to address particular challenges or capitalize on opportunities. This dual approach ensures a fluid, adaptable business model where strategy and expertise coalesce, enabling companies to pivot effectively in their growth trajectory and outpace competitors.
The skill wall is a common problem for entrepreneurs, and can lead to stagnation or even decline. Fortunately, the Entrepreneurial Operating System (EOS) provides a framework for setting goals, developing processes, and building teams. In addition, fractional models can be used to acquire the missing skillsets needed to break through the skill wall. This combination of EOS and fractional models can increase agility and open up greater potential for business growth.