Keep Score

A scorecard is the best way to ensure progress toward your vision. Completing rocks and action items and resolving issues is only valuable if it can eventually be measured on the score card that demonstrates results are achieved and you are working toward your Vision.

Scorecards check the health of the business model by monitoring quantifiable results. They create fast cycles of feedback to help steer daily activities. A company scorecard with key measures ties together all the strategy elements in a way to verify progress and achievement.

Start simple. You don’t need fancy dashboards or real-time tracking to get started. Start with a matrix of past scores. Highlight performance and trends using a color code of green, yellow, or red relative to goals to help point out where attention is needed.

There is no need to wait for all your metrics to be available to begin regular tracking. As soon as you have one metric, use the card on a regular basis. Add other measures as soon as you are able.

Themes are good for organizing measures into groups. Have two or three of the most important metrics that show performance for each theme. In addition to result metrics that might not change each week, be sure to include leading measures to give early indication of success and key diagnostic measures to help determine if potential trouble areas need more or less focus. Include measures to ensure you are monitoring work that may be needed around non-operational improvements like developing your people, new competencies and the right customers.

I like to also add Rocks related to the Theme to the score card and show them color coded to indicate whether or not they are on track. Often reaching a goal requires having a Rock complete.

Assign owners that are responsible for tracking each metric and its performance. Update your scorecard weekly and review it as part of the pre-work for your Leadership Team Meeting. This ensures you know whether you are getting results from daily and weekly actions that work toward quarterly goals and yearly targets.

If not, raise the issues that the metrics highlight. Track and resolve these according to your problem resolution approach.

Give scorecards extra scrutiny at quarterly and annual meetings to ensure you are ultimately progressing to deliver your strategy Themes and your longer-term Vision.

Please subscribe below, share, and like. Reach out through the about page or on LinkedIn if I can answer any questions or help address a specific need you have.

For more about how scorecards fit in StrategyOS, read this Overview. See this list for more articles on Measures.

Follow your Passion, find Joy in your work, and create Freedom to pursue all of life’s priorities.

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