Traction by Gino Wickman is the book behind the Entrepreneurial Operating System (EOS), and while it is written as a growth manual, it is also a useful diagnostic for succession risk in owner-run UK businesses. Wickman’s six components – Vision, People, Data, Issues, Process, and Traction – expose how much of a business runs on the owner’s head alone. His “accountability chart” replaces the traditional org chart by naming exactly one person accountable for each major function, which is often uncomfortable reading for founders whose name still sits in most of the boxes. Quarterly “rocks” and the weekly “Level 10 Meeting” build a leadership team that can operate without the owner in the room. EOS works well for £1m-£20m owner-run firms but can feel rigid for partnerships or very small teams, and it says nothing about the wills, shareholder agreements, and reliefs needed to actually protect a business when an owner dies.
Read the full article on our website →
Get Legacy Insights free every Sunday
Six short reads each week on tax, Wills, family wealth and running a business, from John Ireland. Since 1996, three decades of protecting families.