September 8, 2023

EOS with Theresa Barnard

On today's episode of "The Confident Advisor Practice Podcast," a podcast from the Horizon Advisor Network, hosts Bill Bush and Chad Soileau talks to Theresa Barnard from Evergreen Solutions. They explain that they met Theresa through their involvement on the board of the Financial Planners Association of Louisiana and how they got to know each other.

Episode Highlights

  • 01:56: The host talks about the EOS system (Entrepreneurial Operating System). They mention that the EOS system was derived from Gino Wickman's work, possibly referring to a book called "Traction" by Gino Wickman.
  • 02:24: Theresa mentions that she entered the wealth management industry in 1999 as a licensed advisor and spent most of her career working in ensemble practices. She eventually found herself in practice leadership roles, which she describes as a natural progression in her career.
  • 03:09: Theresa mentions that she had the opportunity to implement EOS into her practice two years ago and served in the integrator role. This experience led her to realize her true passion, which involves creating a conducive environment for growth and helping companies have a more significant impact on their clients and communities.
  • 04:46: EOS may not be the best fit for those who don't seek growth or change in their business. Theresa implies that EOS is more appropriate for business owners who are interested in improving efficiency, achieving growth, and making changes to their practice.
  • 05:40: Theresa elaborates on the criteria for advisors who should consider implementing the EOS system. She emphasizes that EOS is suitable for advisors in ensemble practices who have a desire to grow and increase their impact on clients, employees, and their community.
  • 07:01: Theresa explains that EOS is essentially a business operating system designed specifically for entrepreneurial business owners.
  • 08:24: Bill and Chad discuss the flexibility of the EOS system and how it can be tailored to suit the unique needs and preferences of each advisor's practice. They emphasize that EOS provides a framework that doesn't require advisors to reinvent the wheel, allowing them to adapt and integrate it into their practices as they see fit.
  • 11:58: Theresa emphasizes that the "people" component often stands out as the most complex and messy part of the business, primarily because people are inherently complex. She notes that one of the initial impacts of implementing EOS is focusing on finding the right people for the right positions within the organization.
  • 13:50: Theresa emphasizes the need for individuals to be in roles that match their natural abilities and interests, using the analogy that if she were to do interior design work, no matter how hard she tried, it wouldn't be a good fit.
  • 16:02: Bill, Chad and Theresa discuss how this concept encourages individuals and teams to prioritize their most crucial objectives over less important tasks, ensuring that they allocate their time and resources wisely during a 90-day period.
  • 17:52: Bill and Chad talk about the interconnectivity of the components and how they must work together seamlessly for success.
  • 19:27: Companies can choose to work with professional EOS implementers who are franchisees of EOS. These professionals serve as coaches, facilitators, and teachers, guiding the leadership team of a company through the implementation of EOS.
  • 23:20: The arrangement with an Integrator often depends on the company's specific situation and goals. Theresa highlights the importance of finding the right fit for the Integrator role, whether internally or externally, to ensure that the responsibilities are managed effectively, and that the Integrator can help drive the company's success.

3 Key Points

  1. Theresa explains that EOS is essentially a business operating system designed specifically for entrepreneurial business owners.
  2. Theresa highlights that EOS provides a simple yet effective framework for aligning core values with hiring decisions, recognizing, promoting, and potentially separating individuals based on value alignment.
  3. Theresa talks about the significance of having the right people in the right seats within an organization, using EOS tools like the People Analyzer. She highlights the flexibility of EOS, as it can be implemented in various industries, and discusses the EOS concept of "rocks" as 90-dayobjectives to drive progress.


Tweetable Quotes

  • “The EOS system is described as a framework to help entrepreneurs, business owners, and advisors run their practices more efficiently and effectively, with the goal of achieving growth.” - Theresa Barnard
  • “Businesses are always looking for better ways to operate, and EOS offers a proven system that can help advisors create ensemble practices.” – Bill
  • “A company can self-implement EOS using the downloadable tools provided by EOS worldwide, such as books like "Traction" and "Get a Grip." However, this self-implementation may take a while as there is a learning curve involved.” - Theresa Barnard

Resources Mentioned:

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