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HOW DO YOU STAY FOCUSED BUT BALANCED?

Reblogger Will Hamm
Real Estate Broker/Owner with Hamm Homes

We all miss Grant Schneider blogs everyday and this was one of his great blogs.

Original content by Grant Schneider

Success in sales requires you to stay focused.  As you grow however you start  to have many balls in the air.  Suddenly sales is not all that you have to worry about.  Now you need a balanced approach to management in order to obtain great business results. Why? You need it because your team will have multiple goal categories, goals and action steps. The flawless execution of these action steps will result in a loyal customer base. The end result will be more sales and profits. But how do you keep it all on track?

The Balanced Scorecard, in my opinion, is the best way to stay focused on all of the organization’s goals and keep your staff on track too. Very simply a balanced scorecard is an ideal form of performance measurement. The business leaders identify a small numberThe Balanced Scorecard of financial and non-financial measures and attach goals to them. When the results are reviewed it is possible to determine whether current performance 'meets expectations. By alerting managers to areas where performance deviates from expectations, they can be encouraged to focus their attention on these areas. The result will be improved performance within the department or the organization.

So that is the description. Now let’s see this in action. I will use a restaurant company as an example.

What attracts people to eat at a restaurant? It starts with great food. But people really keep coming back because of the total experience of visiting that restaurant. That experience includes tangibles and intangibles.  For starters, to quote from the TV show Cheers, you want to go where everyone knows your name and they are always glad you came. You want the restaurant manager to be like Sam Malone of Cheers. What else? Well you want the restaurant to be clean and you want it to have safe food handling practices. You want a friendly and attentive server and you want to know that he or she is passionate about serving you.

What does restaurant management want? It wants a profitable restaurant. It wants dependable employees in the kitchen and serving guests. It wants less food waste by cooking to recipe and by servers taking the guest orders correctly. It wants no food cleanliness violations anywhere. It wants a stable trained staff with reduced turnover.

Those are a lot of things to manage but managing them well will lead to a profitable restaurant with a growing number of loyal guests. There are a number of critical goal categories and a whole set of goals for each category.

Now let’s use the balanced score card to made sure that managers and staff stay on target. Our balanced score card will measure the following: Sales, Profit, Food Cost, Food Safety, Cleanliness, Employee Engagement Score, and Guest Engagement Score.

Using this approach to goal achievement will insure that all the drivers of results are considered. Without the balanced scorecard the manager may focus only on profits to the detriment of other areas. Finally, if you develop a compensation and bonus plan based on the score card you will operationalize it and your staff will internalize it.  Read a similar blog on our web site titled BALANCED SCORECARD LEADS TO MORE SUCCESSFUL BUSINESS OUTCOMES.

Learn how we can help you use a balanced approach to drive results for your team.  

Free Consultation.


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Armonk, NY
Port Saint Lucie, FL

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Grant Schneider,
CBC, SPHR, SHRM-SCP*

*Certified Business Coach,
Senior Professional in Human Resources

President, Founder
& Leadership Coach

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Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

Grow, hire and delegate

Apr 06, 2024 09:08 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Michael Elliott you got the point.

Apr 06, 2024 09:41 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Grant was a very special man and for those of us that were in his company at Meet-ups always a joy to be around.

Apr 06, 2024 10:19 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

thank you for sharing this one with us . .  I miss Grant and Lou too!  I hope they knew how important they wete.

Apr 07, 2024 07:34 PM