Ep 227 EOS + Profit First with Matt Foss

EOS + Profit First with Matt Foss

In this episode, we have Matt Foss, a former owner of two companies, CEO of a private equity-backed business, and a Division 1 football captain. With a diverse background in leadership and a deep understanding of the challenges in building successful ventures, Matt shares his journey of highs and lows, lessons learned, and the pivotal moments that shaped his approach to business and team management.

Matt believes there’s a better way to gain traction. As a natural implementer, he unites people around a clear vision, prioritizing group success over individual acclaim. Matt emphasizes the need for tough conversations, addressing personnel issues with skill and grace. Join Matt as he guides you through the hard work and encourages you to enter the danger zone, where the biggest gains happen. 

In this episode, you will learn the following:

• Fundamentals of the Entrepreneurial Operating System (EOS) and Profit First methodology, and how they can transform a business from a chaotic operation to a well-structured entity.
• The visionary-integrator relationship in business, where visionaries generate ideas and integrators turn those ideas into actionable plans, maintaining order and focus on valuable initiatives.
• Setting clear goals and measurable outcomes for employees, ensuring the right people are in the right seats.
• Impact of structured weekly meetings and scorecards on organizational success.
• Limitations of traditional accounting practices and the benefits of understanding money management and cash flow through the Profit First system.
• Compelling examples of businesses that have successfully implemented EOS and Profit First, underscoring the practical benefits of these systems in enhancing business value and operational efficiency.
• Benefits of EOS in driving business profitability and accountability, including the significance of addressing root causes rather than surface-level problems.
• Utility of tools like ChatGPT for refining business strategies.

 

Links: 

LinkedIn- https://www.linkedin.com/in/mattfoss37/

Website- https://www.eosworldwide.com/matt-foss

Contact info-

Email- mfoss@fossconsultinggroup.com

 

Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz

Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst