By Lindsey Munson, editor, The American Mold Builder
Gaining traction in the mold industry is the implementation of the Entrepreneurial Operating System (EOS), a system that integrates a set of simple, effective tools and a proven process to produce powerful business results.
At the 2023 AMBA Conference, one of the breakout sessions offered to mold manufacturers was Driving Successful Business Operations – The EOS Framework, led by presenter Dave Feidner, EOS Worldwide and certified EOS implementer. Panelists Tom Barr, president of TK Mold & Engineering, and Charles Daniels, chief financial officer of Wepco Plastics, contributed to the discussion.
What is EOS?
Feidner kicked off the presentation with three key points that manufacturers and their leadership teams need to process, plan and take action on, including solving problematic areas, leading efficiently and effectively, and gaining focus in all areas within the company. To start the process, manufacturers must understand and actively implement the EOS framework:
- Get Real – Getting real in life and in business, sharing insights that are “real” – whether good or bad – so that a deeper dive can be taken into what works well and what doesn’t work well, and outlining pain points to redirect the company in the right direction.
- Keep It Simple – There’s no one-size-fits-all, no big theory or strategy, but rather a simple set of tools to assist in redirecting a company’s framework to meet its vision and create overall success.
- Get Results – Start acting today! Begin the process of creating a framework that is centered on the “real” and keep it “simple.”
In the EOS Model® strategy from EOS Worldwide, there are six components that should be looked at when building a strong foundation for an EOS platform within a business: vision, people, data, issues, process and traction.
Once the framework is accepted and implemented across all channels of the organization, companies can begin the “real” work, with the goal of accomplishing three key drivers: vision, traction and health. It is critical that the leadership team be 100% on board and on the same page with the company’s vision and goals, both short- and long-term, and its future direction. From there and over a period of time, the point of traction happens when clarity, discipline and accountability are set, driving leadership and employees in their daily work. By putting in the work to make changes, a company begins the process of creating a healthy, successful operation.
Finding the Pain Points
A company’s pain points often are the impetus to redirect its vision and goals. These pain points may be centered on the following:
- Control – The inability to control the steering wheel (the business).
Profit – It’s not always worth the squeeze – working hard, only to see that the ROI doesn’t match the effort. - People – Employees who aren’t accountable and disciplined.
- Hitting the ceiling – All aspects of the business are going well until a certain point, and then the company suddenly hits a plateau.
- Nothing’s working – As a leader, there is never a shortage of books, organizations to join, training and more that can provide guidance. It’s not always about grabbing a hold of every resource, but instead finding the resources that make the most sense for the business.
Barr said, “When TK Mold started building out its EOS model on its own, immediately we came to grips with the fact that there was no structure or accountability. We saw our frustrations piling up and hit the ceiling. I knew, as a leader, I was too far into the company. I was too close to it and couldn’t be the lone person trying to fix our processes and operations. So, we chose to introduce other professionals to come in and hit the reset button.”
As for Daniels, he said, “I came across the book “Traction®” and shared it with internal leadership. We immediately jumped at the opportunity to bring the EOS model in-house. The book changed Wepco operations!”
The strategy is to simplify and streamline, focusing on the six areas – vision, people, data, issues, process and traction. This gives employees and leadership the ability to lean in and be a part of the changes, creating accountability, discipline, structure and clarity. In turn, a company maximizes transparency across all employee channels and drives its long-term goals with the outcome of “real” results.
Once each area is defined, based on the model metrics, companies are presented with an opportunity to break the cycle of working on the same issues and problems over and over. Leadership and employees now have the tools and techniques to problem solve and create value-driven results that positively affect all areas of the operation.
Driving Vision and Results
One of the six components – vision – is key in strategically aligning a company’s operations. To create vision, there must be traction… and for a company to meet those key drivers, core values, core focus and long-term goals must be outlined. Barr and Daniels participated in this exercise when TK Mold and Wepco Plastics implemented EOS.
Wepco Plastics’ Daniels said, “Our values are to always do the right thing, never stop improving, impact our community and do more.” The company’s core focus sits on the pillars of purpose, cause and passion – to take on challenges that other manufacturers do not choose to value or focus on. Wepco’s long-term goal is simple, Daniels said: “To produce seven million parts per year.”
As for TK Mold, Barr said, “TK’s core values are to be passionate about the industry and work, seek curiosity and try new things, always work hard and be trustworthy. Our core focus is defined by what fits best in the TK Mold model, and every employee acknowledges it. Our long-term intent is to position TK to be consistently profitable and that any partner, employee and customer who touches TK Mold will be positively affected.”
In addition, the session touched on the second component of the six – traction – as part of driving business operations to reach maximum results. This component includes the development of a one-year plan and defining company “rocks” – a list of what stands in the way of the short- and long-term plans. TK Mold’s biggest “rock” was accountability, so a self-accountability chart was created that started with leadership and now is used company-wide. Barr said, “As a leader, it’s about ingraining discipline and being intentional.”
The EOS Model® is another tool readily available to strengthen tool builders’ internal operations. Daniels said, “For Wepco, it’s about staying focused on the implementation and pushing EOS with purpose every day.”
Learn more about the EOS Model® and Dave Feidner, EOS Worldwide, at www.eosworldwide.com or by contacting him at dave.feidner@eosworldwide.com.
