You are busy.
But do those activities help bring you closer to your goals?
Truth is, unless you identify the activities in a disciplined way, you might continue to be busy, yet never achieve your goals.
I use these four perspectives to help me identify the most crucial activities.
The Balanced Scorecard introduces these four perspectives:
Financial. Most businesses focus purely on their bottomline. In order to achieve your financial objectives, you must understand the interrelated activities. Hence, focusing only on your financial objectives is akin to watching your weight without managing what you eat and how much you exercise.
Customers. Every business needs customers. In order to have customers, your offerings must meet their needs and desires. How well you satisfy your customers will have an impact on your financials. However, you must watch how you fulfill your customers’ needs. Which leads us to the next perspective.
Processes. Having the right processes is crucial. It determines how well you organize resources to meet your customers’ needs. It also have an impact on your financial objectives. Each business will have a unique process to deliver that promise. That is determined by the next perspective.
Learning and Growth. The collective efficacy of your team will determine how well you organize resources, how you uniquely fulfill your customers’ needs, and how well your business do financially.
Not all activities are equal
Let’s face it.
We all have limited resources. Some of us have a lot of time, but little money. Others have lots of money, but no time.
Either way, we have to be smart in allocating our most precious resource,
time, in helping us achieve our goals.
That’s what I invested today figuring that out.
It used to be a huge head scratching exercise.
But today I figured it out within an hour.