Tag Archives: Measurement and Benchmarking

The Magic of Scorecards and Great Teams

magic_piece_of_the_puzzle

What makes a great team? Results.

How do you get great results? Measure.

Earlier this week I read “So You Want to Be Part of a Great Team” by Dan Mulhern, where he explored the “why” behind people wanting to be part of great teams. Beyond the “why”, he also looked at the common success factors in great teams. As he put it, great teams:

1) Generate results, and
2) Have a relentless focus on performance.

Makes sense. So the next questions is “how” to create these results and focus on performance.

The good news is, it’s pretty simple. As business sage Peter Drucker once said, “what gets measured gets done.” (And what gets measured tends to improve too, when all eyes are on it!) However, I recognize that this phrase gets tossed around so often, and sounds so simple, that it’s easy to be skeptical of its effectiveness. How could doing something so simple make such a difference? And with a million and one things to do to keep the wheels on the bus, who has time to start tracking more things?

On the other hand, if all you had to do to make something better was to keep an eye on it, could you afford not to do it?

The principle is simple. Pick a handful of metrics that will move your business forward. Yes, it’s important to pick the right metrics, but don’t sweat this too much. Chances are you’ve already got your eye on a few things, and instinctively you’ve got a couple others in mind. You’ll wind up tweaking what you watch over time anyway, so STARTING is more important than perfecting the list of what’s on your scorecard.

Then look at these same metrics every week, with the same team members. Make someone accountable for each number.

And then enjoy the magic.

What’s your experience with scorecards?

—-

Additional Resources:

Sample scorecard from the Entrepreneurial Operating System tools page.

Amazing Benchmarking Data for Internet Startups

Startup_Compass_Software_for_Business_Benchmarking

An innovative site called Startup Compass is gathering and sharing key metrics in the growth of internet startups. Read more in this WSJ article “Service Helps Start-Ups See Where They Stand”. I wish there was something like this for every industry to create benchmarks – let me know if you’re aware of others we can share!