BY LARRY NAULT - BKC President and Chief Strategist
In today's edition, entitled "MAKING ADJUSTMENTS" we introduce you to a great planning tool called the "Business Scorecard" that helps you identify the current state of your business and the adjustments that need to be made.
Too often when things aren't going right in our Business, we tend to focus on where we think the problems lie and come up with a solution in isolation to what's going on elsewhere in the company or in the world around us. It would be like getting a prescription from a doctor without first having a consultation about your symptoms to see what else is going on.
The same applies in building a Kingdom Business; don't potentially misdiagnose the problem without all the facts. Adjusting our lives to God with the help and wise counsel of others is the first thing that has to happen in order to begin experiencing His presence and power in our daily lives.
“Blessed is the one who does not walk in step with the wicked or stand in the way that sinners take or sit in the company of mockers, but whose delight is in the law of the Lord, and who meditates on his law day and night. That person is like a tree planted by streams of water, which yields its fruit in season and whose leaf does not wither— whatever they do prospers.” (Psalm 1:1-3)
Introducing the Business Scorecard
A business scorecard is a symptom-checker of vital signs which enables you to accurately monitor symptoms, make a diagnosis, and correctly and accurately prescribe treatment of how to improve, become healthier, and fitter.
The scorecard essentially shows your company’s vital signs in a handful of metrics and enables you to diagnose two types of pain, acute and chronic:
Losing a big client or key employee, missing a big sale, failing to hit revenue goals, being in negative cash flow – are all causes of acute business pain. These are all lagging business indicators from the past, and it’s too late to do anything about them.
Your scorecard works as a symptom-checker to identify the underlying chronic symptoms that may eventually create acute pain, such as:
Isolated symptoms can be misleading. To fully diagnose a business, you need a handful of measures or symptoms that combine to add context and form a picture of health. These are leading indicators that show what the business is currently presented with that enable us to influence the future by changing our activity.
Every function of a company serves a purpose in the business, like all our major limbs and organs serve a distinct purpose in our body.
If you can identify the purpose and outcomes of each function, you can define what a picture of health would look like (in numbers) and can then work to get (or keep) yourself in top form. You can monitor your ongoing health, and highlight when you may be about to become ill and treat it fast (prevention and/or cure).
On their own, each scorecard number may not mean a great deal, yet in the context of all the other numbers you will be able to spot the patterns and trends, and identify issues (no smoke without fire) whilst they are still small issues and not raging infernos on your P&L and management reports (lagging business indicators).
In a utopian world, when monitoring your scorecard, everything will be where you’d EXPECT it to be on a weekly basis. If not, you have an issue to solve. The scorecard is less of a ‘look how good we’re doing’ tool – and more of a tool for helping you to identify potential issues and get better, continually. Using a scorecard regularly will help you:
In essence, when you focus on your weekly scorecard, you get to do three things:
The degree that you identify, treat, and focus on the chronic pain (the root of the symptoms) you will help to avoid the acute pain.
HOW ABOUT YOU - have you created a Business Scorecard?
Since our inception, we’ve connected with business leaders, owners, CEOs, and entrepreneurs who share this passion for integrating our faith and business practices into Kingdom companies.
Our consultative approach offers fully-customized solutions that will help you build a business that is a visible expression of the goodness and power of God.
Transformation starts with a CEO and a PURPOSE. Not just any CEO. Not just any PURPOSE. BKC is designed to help leaders who are receptive to God's influence on their everyday business decisions with a process and a support group from other CEOs who have made the committment. Let us help you:
A) BECOME the Priest and King / Seer and Doer you were created to be.
B) IDENTIFY what needs to change in your life / business and develop an action plan to create greater eternal value and fulfill your Kingdom Destiny.
C) TOGETHER we can help others do the same!
Using your UNIQUE GIFTS and the POWER GOD freely gives, our Kingdom Advancement Team has a common vision for REFORMATION: To help you buildGreat Companies that Glorify and Advance the Kingdom of God.
Start now, with our proven Three Step REFORMATION Process and request a Complimentary Business Review. Today, we declare that you are developing an "ADVANCING ATTITUDE" and that God's favor go before you and make your way successful.
Special thanks to Dean Breyley at EOS for his input on this topic.
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Our BKC blog offers curated material focusing on Kingdom Advancement and glorifying God in business.
BKC President and Chief Strategist
BKC Director of Kingdom Advancement
Dr. Lou Angone
BKC Vice President