I love the game of golf. I am not a great golfer, but nothing beats heading out early on a spring Sunday morning and playing 9 holes. As frustrating as the game is, one thing remains true… I always keep score. Maybe you are a golfer too. Or maybe you are a big sports fan… football, baseball, basketball. Whatever the game, imagine sitting down to watch a big game and being told that the score would be announced at the end of month. You think to yourself, “wait, I am going to watch this game today, and not know the outcome for 4 weeks?” How can that be?
Now, assume during an executive team meeting, you ask “How are things going?” Tom, your VP of sales, responds that he has “been very busy.” Your CFO, Mike, responds that he “got lots of bills paid.” And, let’s not forget about your executive VP, Bill, who tells you that “things are good.” Would you have a good sense of the health of your business after hearing these responses?
As business owners and entrepreneurs, all too often we are kept up at night with anxiety over not having a good sense of how our businesses are doing. Just like in my Sunday morning golf game or the Sunday night football game, where a scorecard is used to keep tabs on every stroke, every fumble or every field goal, in business, a scorecard can give you timely information about how well your business is doing at any given moment. However, whereas in sports, scorecards are always used, in business, most owners simply end up listening to excuses and staring at a stack of paperwork at the end of the month, trying to figure out why goals weren’t met.
Building a scorecard for your business is simpler than you might expect. Sit down with your leadership team and brainstorm on key activities for your business and how these activities can be measured. These are the activities that are the drivers of desired results. Split these items up so that everyone on your team has at least one key measurable they are held accountable for. This ensures your processes are in place, are working properly and that your organization is taking ownership for results.
These items become your company scorecard and the assurance that things are on track (and if not, that they will be caught timely). To discuss your organizations scorecard or to play a round of golf, give me a call at 631.392.1530.