Traction Tip: Staying On Track
When driving my truck I often look down at my speed, and occasionally at the “miles left” in my gas tank. I hardly ever check the oil pressure or engine temperature. I never monitor the engine’s oxygen sensors. Unless a warning light comes on, I don’t go any deeper into the status of my truck’s engine because I have just enough information on my dashboard.
What are the key metrics for your business that are essential for you to monitor its health without going too “deep?” EOS® businesses learn to simplify their business Scorecard — listing 5-15 “measurables” (less is more!), and setting goals that can be impacted by weekly activity. Year-to-Date sales is important to know.; yet, measuring the number of weekly prospect calls gives you more concrete insight that you can take quick action on. Similarly, measuring days of backlog provides you a good forecast of potential revenue.
The goals on your Scorecard should be for weekly, activity-based measurables. This allows you to review and confirm that the most important activities are on-track each week. If one is off-track, you become aware of it quickly and can do something now to resolve it next week. The weekly cadence of your leadership meeting, Scorecard measurables, and To-Do's all align. Waiting a month or a quarter for results postpones your ability to take corrective action and meet the goals you've established.
The EOS® Scorecard is a set of weekly, activity-based goals that indicate you’ve had a great week. Hitting them will help you meet your quarterly goals. When the quarterly goals are met, annual goals will be met, too. Ready to talk about your Scorecard? Let's Talk
Entrepreneurial Operating System® and EOS® are registered trademarks of EOS Worldwide (http://www.eosworldwide.com/).