The Balanced Scorecard Makes Leadership Easier

Who’s my boss? What’s my job? and How do I know if I’m doing it well?

I’ve written before on the importance of these questions (hat tip to Rob Forman for sharing this with me in 2013).

Everyone needs to know the answers. One of the hardest to track is the last question,“How do I know if I’m doing it well?” I’ve found the best way to answer it is through the balanced scorecard.

The Balanced Scorecard lives inside each team’s one-page strategic plan and gets reported on twice weekly during the weekly tactical meeting and the weekend update.

Companies should have one, management should have one, individual contributors should even have one. It is the answer to the question: What are the 3-5 key metrics that drive the daily behavior of your team?

Here’s an example from the services team at SalesLoft:

Screen Shot 2015-05-26 at 10.32.06 AM

And the marketing team:

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And the company wide version:

Screen Shot 2015-05-26 at 10.30.28 AM

Here’s how we use it:

  1. We pick the most important metrics during quarterly offsite dialogue.
  2. We determine how to track it
  3. Each team lead updates it twice a week (before Wednesday morning tactical and before Sunday night weekend update.

I learned about the balanced scorecard originally from a mentor, Frank Moyer and the book he recommended.

balanced

Let me know if I can help you determine yours. The next thing you need to figure out is how to report on it and hold yourself/others accountable. Another post perhaps…

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