Today is part 4 of a 5 part, 45 show series on the Technology of Business. It runs 5 days a week over the next 9 weeks and is structured by our approach to a Balanced Scorecard for measuring and managing the business.
A quick reminder for anyone unfamiliar with our methods:
F = (O + C + P)E
Financial Performance is the result of how well the Entrepreneur/Owner/Executive leads and manages Processes, Customer acquisition and retention, and has People invested in the future of the business.
The previous shows we covered Financial Performance, Processes Under Control, and Inside the Customer. This show is an overview who you need to hire and move them from trading time for money to invested in the business's future.
Here is how the Balanced Scorecards converts into our weekly programming:
Very seldom am I impressed by a business book and almost never about 2 books released at the same time. In the mid 1990's as we were building our large corporate consulting practice I read both "the Great Game of Business" and "Open Book Management".
What made these two texts significant was (1) both were written by CEO's on their methods of growing a business, not consultants, and (2) guidance on how to build variable compensation systems. I now had a tool to educate employees on how to understand the numbers and positively influence their compensation.
Since then I have used these concepts with all of my clients, when appropriate, and it is how we are building the IBGR organization. The following are a few key rules to take advantage of this powerful tool:
Given all the topics we will cover this season in the Technology of Business Series, this is the most radical - at least at first sight. The idea of sharing financial information with employees or alliance partners is scary - but it works if want people vested in the future of the business.
WHAT YOU NEED TO KNOW
WHAT YOU NEED TO DO
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