Illinois rental business managers and owners who want to move their operations to the next level received valuable strategies during the ARA of Illinois’ April 6 in-person dinner meeting in Joliet, Ill., which featured Dan Crowley, founder and president, Peer Executive Groups.
Crowley’s presentation, “How to Perform Like an Elite Company,” took a deep dive into Gino Wickman’s Entrepreneurial Operating System (EOS) Model, discussed how to establish a Vision-Traction-Organizer and offered techniques for building a culture that thrives.
Crowley highlighted three critical components of elite companies.
The first involves owners and their vision. “Issues that are not addressed in one’s business and personal life are what are endorsed,” Crowley says. “Owners cannot ignore them. When they do, trust with their workforce is eroded, so don’t let the concept of time, or the lack thereof, become an element of self-victimization. To run an elite company, owners need to get on top of issues and make ‘working on the business’ a priority. They also need to document and share their vision with their employees.”
Once owners tackle their commitment and vision, they can move onto the second key component, people, Crowley notes.
“Owners need to converse with their employees about their jobs, not just review performance. It is critical that owners know what incentives motivate their employees. And believe it or not, it has to do with communicating,” he says.
The third step is to measure where the business is at. “The questions are what to measure, who is involved and what is the goal? Those are critical questions owners must ask themselves,” Crowley says.
Those key elements help owners set up an elite company in which shared values are put in action with the right people in the right spots who are working together as a team. The outcome is that “elite companies are ones that can achieve goals and increase in value year over year. It all begins with owner commitment,” Crowley says.
The ARA of Illinois thought now was the right time to address this topic because “it has become a hot issue among many rental owners,” says Terry Allen, president, Webber Rental & Supply, Galesburg, Ill., and ARA of Illinois president. “Many owners have or are thinking about changing their operations to the EOS type of system. We wanted to offer them some help and insight on that and other critical elements for success. Dan did a fabulous job of showing us what is involved and how we can take the appropriate steps to become stronger operations for our employees and customers,” he says.