A Great Week = A Great Scorecard

Individual's hands filling in a scorecard

Several of my clients recently asked for help in putting together company or departmental scorecards. For many organizations and leaders, finding the right set of 5 to 15 leading indicators that provide an absolute pulse on the business (or the department) is a difficult challenge. Often it takes several months or longer to truly fall in love with your scorecard.

Like most worthwhile journeys, strengthening the Data Component™ starts with a single step. I’d like to challenge you to take that step today by dividing a blank legal pad page into two columns. At the top of one column, write the title “Great Week.” At the top of the other column, write “Lousy Week.”

 

Four Steps to Creating a Great Scorecard

  1. Define a Great Week for Your Company. Make a list of everything that might happen in a great week for your company (or your department). Maybe you got a bunch of new leads, took a few big orders, got positive customer or employee feedback, permanently lowered production or operating costs, collected on some past due receivables, improved your liquidity – you get the drill. Just make your list.
  2. Define a Lousy Week for Your Company. Now make another list of all the things that happen during a lousy week. Some of the items on the list are just going to be the opposite of what you’ve already recorded, but some stuff will be new. Just wrack your brain and make the list.
  3. Identify Weekly Measurables. Lastly, ask yourself if any of the things on either list can be measured weekly. Can you measure “number of leads” on a weekly basis? Will it provide valuable insight into the potential for your sales team to hit future revenue goals? Can you measure “big orders” or “total dollars ordered”? Better yet, are there any leading indicators that will give you the same information earlier in the sales process? What if you measured “total dollars proposed”?
  4. Prioritize Measurables and Set Goals. Once you’ve compiled a list of all the things you could measure, pick the 5 to 15 most important measurables and start there. Set goals, review the scorecard weekly, and wait until you’re looking at a full quarter’s worth of data (or more) before you make a decision about whether or not you’re measuring the right stuff.

At the end of this journey to strengthen your company’s Data Component, I promise you’ll have far more great weeks than you will lousy weeks, but only if you have the courage to take the first step.

How strong is your company?

Related Posts

Four Steps to Solving Issues

When coaching a team to run on the Entrepreneurial Operating System® (EOS®), I love showing them how to actually solve their issues. At EOS, we say issues are problems, challenges, obstacles, opportunities, and new ideas worth your attention. Issues can be anything – good or bad – that your team may need to resolve. As part of the Level 10 Meeting™ agenda, leaders Identify, Discuss, and Solve (IDS™) business issues for the majority of the meeting. Below I’ll break down the four steps to solving issues forever.

Read on »

How to Rock Your Priorities

Early on in the journey to mastering running on the Entrepreneurial Operating System® (EOS®), I occasionally encounter resistance from leadership team members. During a mid-quarter check-in, they’ll complain about the “extra work” caused by their Rocks or quarterly goals. We worked hard in previous sessions to identify the MOST important priorities for the business for the next 90 days. What caused this head-scratcher? To learn how to rock your priorities, we have to get to the root cause of this common complaint.

Read on »

The Evolution of “Team One”

Many business leaders make it to the top by looking out for Number One (aka themselves). When the company they work for begins running on the Entrepreneurial Operating System® (EOS®), they have unlearning to do. EOS requires the leadership team to act as an actual team. Instead of looking out for Number One, they evolve into “Team One.”

Read on »

Subscribe to the EOS Blog

EOS Worldwide

Subscribe to the EOS Blog:

LOGIN TO

Base Camp

LOGIN TO

Client Portal

LOGIN TO

ORGANIZATIONAL CHECKUP

Search the EOS Worldwide Blog

Search
Generic filters