It should be a simple question, but to many business leaders it isn’t: What does success look like in your company?
So many owners and executives get bogged down in the minutiae of everyday business operation and they forget to see the bigger picture and actually keep track of how their company is performing on a daily basis and at a macro level.
If you own a business or manage a large team, this scenario might seem familiar and if you struggle to escape the day to day and focus on the big picture at times, I can assuredly tell you you’re not alone.
As a business coach, I have worked with many companies who were treading water every day, and this plateau can stunt your business growth and keep you from reaching the success and quality of life you dream of as an owner.
Rather than struggle to keep the status quo, a wise business owner understands how the business is performing at all times in relation to their overall company goals. And for many people, this is the root of the issue: not having concrete goals to pursue.
If you have no company goals, it’s no wonder you can’t move forward. One of my roles as a business coach is to help an owner understand where they want their business to go and then help them get there, so goal setting and then goal tracking is critical to success.
If you do have goals in place, are you ensuring you’re on the road to reaching them? This is where the idea of a company “scoreboard” comes into play, and it can help separate successful businesses from those stuck on a plateau.
When you have annual goals, it’s smart to place mile markers along the road to reach them, and these can be specific to certain processes, departments and/or people in the company. By having a scoreboard which tracks the progress of people and groups, you can find the weak links along the way, give more responsibility or praise to high performers and make adjustments as needed to help you end up in the right place at the end of the year.
A scoreboard looks different in each business depending on their unique processes and their industry, but it’s an essential part of tracking progress to your goals.
Are you keeping a scoreboard now? If not, I want to help your business thrive through coaching. Check out the quote below from a recent training session where I discussed this topic, and if you feel my services can help please give me a call or fill out the form on my website to get started today.
So, in your company, question to you is: do you have a scoreboard? Like in the game of football, for example, there’s four quarters, broken up by 15 minute increments. Okay, well in the game of business, there are four quarters. Right now, if you’re on the fiscal year that follows the calendar year, we just kicked off quarter one: January 1st, and so we’re one month in. What score is it?
