EPISODE E3.004 Introduction of Balanced Scorecard - measuring Performance and results

Introduction
Good day and hope you are looking forward to a productive week.
This week we are announcing our new community - The Community of Commerce for all insiders. Everyone who has JOINED US and become an inside we are moving off of the weebly web platform to a community site on Tribe. 

This will provide an opportunity to share information, ask questions, and gain support for starting, growing, or exiting your business.

It is our version of the Chamber of Commerce - what it could have been instead of what it has become. This community has one goal - your success as a business owner to build generational wealth for your family. That growth will create more and better jobs in your local community.

It is a stand alone (outside the control of the arbitrary large providers) platform that provides entrepreneurs and business owners a space for the free and open exchange of ideas.

As a member of IBGR's Community of Commerce you can:

1. Follow other users including the OnAir Talent and Executive Team at the station.
2. Ask and answer questions about starting, growing, and exiting the business from our OnAir team and each other.
3. Follow any member of the Community to stay abreast of their latest business insights as well as building your own following.
4. Start discussions to stimulate input from other members of the Community.
5. Create and vote in Community polls.
6. Post and comment on posts and blogs.
7. Access and share content entrepreneurs and business owners can use.

We built this beyond the reach of the 'masters of the universe' so you can speak your mind.

On a closing note, if you want to know what drives everything we do - checkout this article: from Australia (click here).

And that is just restaurants - what about everybody else?
Have a great business week.
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Show Objectives - The Why
​The biggest result of Stage III is building a foundation for the future. You learned allot during Stage II about what to sell to whom and how, and can see where future growth is located. Building the processes to get there is critical, knowing how to measure performance and results essential.

Key Issues - Owner Perspective:

1. Focus on what to measure while building processes.
2. Create an initial set of metrics that drive revenue and profitability.

What You Need to Know - The What

• EPISODE E.009 MEASUREMENT SKELETON

What You Need to Do​​ - The How

1. Customers
   1. Marketing: Finding potential customers and converting them into qualified leads.
   2. Sales: Converting qualified leads into the sales funnel into closed sales.
   3. Service: Transforming satisfaction into enthusiasm for the company and offer, and grow the share of budget.
2. Production
   1. Scheduling: Scheduling work over a period time that ensures an even burden on company resources that maximizes resources.
   2. Efficiency: Organizing work per job or project that maximizes the efficient use of resources (equipment, materials, people).
   3. Waste: Eliminating defects at its source by the people doing the work.
3. Talent
   1. Leadership: Staying connected to the work and model the behaviors that that are in the best interest of the company.
   2. Teamwork: People in groups work together to produce more than individuals working separately.
   3. Mastery: Individuals fully competent for the responsibilities of their job.
4. Financial
   1. Revenue: The amount of money a company collects based on selling its offer.
   2. Earnings: The amount of money the company keeps after all expenses, taxes, etc., have been paid.
   3. Net Investment: The amount of the money the company retains for reinvestment in improvements and growth.

Shows

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• Next: EPISODE E3.005 Managing implementation of Value Mapping