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Almost every EOS company struggles at the start of their journey with their Scorecards and measurables. Sometimes we make this process harder than it has to be by trying to measure every single thing that ever happens in our company.
You can run yourself ragged over the Scorecard by trying to monitor too much information instead of focusing only on key performance indicators. I've distilled this process into five simple steps.
It is tempting to go too deep in developing a Scorecard. Don't overthink it!
Just think about your car. It's a complicated machine with thousands of parts, but there's only a handful of gauges on your dashboard because there are only a few key things you need to monitor to keep it running.
Do we have fuel? How fast are we traveling? How's the engine's performance? Oil OK? Water temp OK? How far have we traveled?
Scorecards are the same way. Ultimately, you want to know:
This is the frame of mind you want to be in before you start planning or you'll make this much harder than it has to be.
First, design your Executive Leadership Team (ELT) Scorecard and its key measurables around the big goals recorded on your company's V/TO. Since each member of the ELT is responsible for some key part of the company, every department in the company must have a number on the Scorecard that relates to achieving the Vision on your V/TO.
Measurables are the activities or results that we must achieve on a weekly basis in order to have successful weeks, and thus successful months, quarters, and years. Each part of the business should have no more than three or four key indicators of how their week went.
From a numbers standpoint, did we achieve the goals for the week? For example, did we produce X units? Make X calls? Get out X reports? Meet X people/customers? Keep errors below X? Have X Sales? Did the organization have X or fewer compliance issues? Have X in the bank? No more than X in Accounts Receivable over 60 days?
These are measurables you should plug in to your Scorecard.
Recall that every business has a handful of Core Processes. These are the areas common to all businesses:
In your company, these processes are the key to your way of doing business, and some of your measurables should reflect whether they were working last week (or not). These can be quantified into numbers, as in Step 3.
Each leader's key numbers on the ELT Scorecard will be the top measurables on his/her departmental Scorecard. Simply break down what drives the numbers on the ELT Scorecard to fill out the departmental Scorecard. Just as every member of the ELT has a number, every employee in every department should have personal measurables that contribute to achieving the department's measurables.
Before you start, I recommend you read "The Data Component - Safety in Numbers" section of Chapter 8 of TRACTION, beginning on page 115.
You might also read "What's My Number?" in Chapter 7 of What the Heck is EOS?
Here are a few more resources you can check out online:
If you're still struggling after all this, contact me to schedule a Scorecard Session.
Many thanks to Dan Wallace, whose teaching on Scorecards inspired this post.
Have questions? Want to learn more? Request a no-obligation 90-Minute Meeting for your senior leadership team. Get started scaling your business today!
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