Scott Abbott - Zionsville Monthly Magazine

May 2020 When Scott Abbott talks about his new Traction Optimization Studio, you can hear the enthusiasm in his voice. “Purpose, Cause, Passion” are the words he uses to describe why he does what he does. And what he does, in a nutshell, is help business owners, leaders and leadership teams build, run and grow strong, healthy, high-performance and resilient companies. Abbott is not the only person excited to leverage and benefit from the Traction Optimization Studio, located in downtown Carmel, on the corner of Main and Rangeline. “The studio is a wonderful asset for the local community,” says Abbott. “Because not only are we serving people and business across Indiana and bringing them to Carmel, but we also have people coming from across the country and world to leverage the solutions and work that we’re doing here.” The studio houses three separate but synergistic companies that Abbott either founded, co-founded or has ownership in. All three companies complement each other, thanks to their focus and solutions to help leaders and leadership teams be their best in business, work and life. Straticos Started by Abbott in 2010, Straticos helps open-minded, forward-thinking business owners, leaders and leadership teams optimize their vision, traction and health. This is done to help them generate more with less—with the “more” being the maximization of time, talent and teamwork and the “less” being the minimization of issues, challenges and frustrations. “The foundation to Straticos is helping open-minded, growth-oriented business owners and leadership teams learn, implement and benefit from EOS,” says Abbott, explaining that EOS stands for the Entrepreneurial Operating System. Abbott describes EOS as a simple but incredibly effective business building and management "operating system" that is proven and embraced by more than 100,000 companies around the world. According to Abbott, “EOS helps set, drive and deliver the essential strategy, framework, mechanics, tools and disciplines for continuous success.” Additionally, Straticos also teaches and coaches EOS complementary programs and solutions that help optimize leadership, management and accountability. Straticos helps with the challenges and opportunities that all companies face, such as Control: thoroughly get, keep and stay completely in charge.Productivity: maximize time and efficiency; optimize execution.Culture: set, live and embrace an inspiring company culture.People: ensure the right/best people for the right/best jobs.Profits: strong growth and cash flow: build greater valuation. Abbott points out that many business owners and leadership teams encounter the same frustrations over and over again but do not know how to get unstuck. He says that the EOS Organizational Checkup helps to identify strengths and weaknesses so that issues can be solved for good. Straticos offers a free EOS Organizational Checkup that takes about 10 minutes. A link can be found at the bottom of the Straticos website at www.straticos.com. Talevation The second business within the studio is Talevation, which is all about helping companies, organizations and individuals optimize their talent. Talevation partners with SHL, which is a worldwide leader in talent solutions, headquartered in London, England. Started in 2016, Talevation ranks as the No. 1 online provider of skills and behavioral talent assessments used to identify, validate, measure, learn and substantiate the fit and proficiency of employment. Talevation helps individuals and organizations take the guesswork out of their talent decisions, from job selection to hiring the right people, career development and employee engagement. Talevation supports thousands of organizations, schools, government agencies and individuals that collectively conduct over 100,000 skills and behavioral assessments per month. “We provide a convenient, easy and incredibly affordable way for businesses and individuals to assess skills and behavioral attributes so they can hire the best/right people, get and keep jobs, nurture and develop their skill sets and be the best versions of themselves,” says Abbott. Talevation considers itself to be a “social enterprise,” dedicated to the effective understanding, identification, development and support of talent, as well as the enhancement of humankind. This dual purpose of “do good, make good and be good” is both strategic and missional. Assessments are done online, and more information is available at www.talevation.com. PHASE4 Investments The third and newest-to-launch company within the Traction Optimization Studio is PHASE4 Investments. Abbott describes PHASE4 as a hybrid of venture capital, private equity, angel and institutional investors. “I like to think of us as a best-of-blend between Warren Buffet’s Berkshire Hathaway, a business incubator/accelerator and the TV shows “Shark Tank” and “The Profit.” PHASE4 partners with purpose-driven, early-stage and small companies (five to 50 employees) that are generating profitable sales but want to take the business to the next level of performance, growth and success. PHASE4 uses a structured formula to investment criteria, use-of-proceeds, operating model and exit strategy. To learn more and to apply, visit www.phase4now.com. Programs and Workshops In addition to the three companies, as well as the solutions and services that they provide, the Traction Optimization Studio also hosts and conducts various programs and workshops. Abbott is especially excited about “Camp LMA” (the LMA stands for leadership, management and accountability). “We’re working with great partner organizations and not-for-profits to provide Camp LMA as a wonderful resource to help young adults learn about and develop themselves with regard to the best qualities and attributes for success in business, work and life,” said Abbott. In addition to Camp LMA, Abbott personally conducts “Traction Optimization” and “TIP-TOP” workshops. These half-day and full-day customized workshops are interactive group sessions to teach business owners, leaders and leadership teams the foundational elements to EOS and to help build, operate and grow companies that are consistently strong, healthy and prosperous. Abbott also hosts group meetups and one-on-one coaching sessions with business owners and leaders. One of his favorite get-togethers is what he calls “3Ds,” with the 3D standing for drinks, darts and discussion. “The studio is built to be incredibly functional and phenomenally comfortable at the same time,” said Abbott. “It’s truly a wonderful location, whether facilitating full-day EOS sessions for individual companies and their leadership teams, conducting impactful programs, camps and workshops, having 3Ds with business owners, demoing our software, meeting with prospective portfolio companies or just hanging out and reading a good book.” The Studio Setup The studio itself is designed in a state-of-the-art way with multiple areas that have their own unique yet cohesive functions. These areas include the library, which has hundreds of great books on everything from business, leadership, management, economics, teamwork and productivity to mindfulness, meditation and spirituality. There is also the boardroom, which comfortably seats 12 and is surrounded by wall-to-wall whiteboards, interactive monitors and the technology to conduct virtual meetings and sessions. The studio also has “the ideation zone,” which is an open, glass-encased room that has an entire interactive blackboard for cocreating and ideating. And finally, there is the lounge and kitchen areas, complete with an awesome array of comfortable furnishings, snacks, a bar, putting game and dart board. On COVID-19 and Working Virtual The Traction Optimization Studio can also be leveraged virtually. According to Abbott, “We are conducting virtual meetings and sessions as well. While we can have dozens of people working in the studio itself, we can also have people from anywhere in the world participate virtually at the same time. By the way, this has been the plan, even before the emergence of COVID-19.” On that note, given the unprecedented dynamics with COVID-19, Abbott says the resources and moreover the purpose, cause and passion for the Traction Optimization Studio is much needed and important. “Frankly, there’s probably never been a bigger need or requirement for what we do here and why we do it than now,” he says, adding that the pandemic has made his work even more necessary, with so many people being rightfully anxious, confused and concerned. Says Abbott, “No doubt, we all wish that COVID never happened, that we could just wave a magic wand to get rid of it and that we can all go back to the way things were. But that’s not reality. Nope. The reality is that we need to focus on how best to deal with this and move forward. Moreover, let’s not let this horrible crisis pass us by without making things better. And that’s what we do here at the studio. We make things better: in business, work and life.” Abbott says he is ready and prepared to focus on helping companies move forward in the wake of the coronavirus crisis. “Some companies are going to have to pivot and almost reinvent themselves, and our solutions help with that. And some companies just need to modify. They need to do a better job focusing on one segment or another. They may need to have people change jobs for a while. They may need to readjust their processes, goals and expectations.” With the challenges and uncertainty of today, Abbott says the timing and purpose for the Traction Optimization Studio is significant. “We all have to move forward: in business, work and life. So, let’s collectively move forward together and be great in business, work and life.” About Scott Abbott Born in Fort Wayne, Scott has lived in various locations across the world, including London, Paris and Madrid. He now resides in Carmel with his wife and two college-age children. On a personal level, Scott likes to think of himself as an architect, builder and custodian of prosperous companies, leadership and growth. He has 25-plus years of experience and expertise launching, operating, buying and selling successful companies. Scott is a finalist for the Ernst & Young Entrepreneur of the Year Award, a former Entrepreneur in Residence at Indiana University and the author of three books, including “The Co+Factor” and the bestselling and award-winning “Level-UP to Professional.” And for the record, Scott also wants to point out that he has learned a lot through many failures, setbacks and by making a truckload of mistakes. Most of all, Scott loves to help good and caring people—along with team-centric organizations—effectively learn, implement and leverage the best strategies, mechanics and principles for exceptional leadership, management and accountability: in business, work and life. To learn more, connect with Scott on LinkedIn at https://www.linkedin.com/in/scottabbottabc/.

The Traction Optimization Studio: Helping to Build, Develop and Support Prosperous Businesses, Leadership and Growth

The Traction Optimization Studio: Helping to Build, Develop and Support Prosperous Businesses, Leadership and Growth