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#10 - Step 3 of The Financial Operating System: Define Metrics and Goals
Manage episode 381436958 series 3479072
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This episode is packed with actionable insights on operationalizing financial performance goals and bridging the operations-finance chasm by crafting SMART goals and balancing leading and lagging indicators.
We explore the power of Entrepreneurial Operating System (EOS), Objectives and Key Results (OKR), and Scaling Up frameworks. We dive into the importance of creating shared definitions and aligning teams within your company. We also unravel the mystery of the acceptable achievement rate for goals and the art of celebrating wins.
We'll chat about the types of metrics that can be incorporated into scorecards and the science of assigning people metrics they can control.
This episode is critical to being able to manage your business toward achieving your financial objectives.
Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.
Thanks for listening!
Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/
Chapters
1. #10 - Step 3 of The Financial Operating System: Define Metrics and Goals (00:00:00)
2. Metrics vs. Goals (00:01:44)
3. SMART Goals (00:02:45)
4. Effective Time Periods for Goals (00:07:43)
5. Frameworks for Organizing and Structuring Goals (00:09:24)
6. Importance of Aligning Goals (00:13:00)
7. Achievement Rate Expectations (00:14:55)
8. Scorecards and Leading and Lagging Indicators (00:17:50)
9. Benefits of Great Metrics and Pitfalls to Avoid (00:24:49)
10. Five Categories of Metrics (00:29:10)
11. Very Important Standard Metrics (00:35:36)
21 episodes
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