My Scorecard For running my business, executing on tasks, and managing my team!

It's always fun doing a live show. Wait a couple of minutes for people to show up so that way we've got an audience. As you guys know, some of the best things that you can do during an online class or stream is to participate. And the best way to participate is to comment in the comment section. So if you're joining us on Facebook, make sure to check in and tell us where you're coming from, what market you're in, your name, and where you're coming from, as we're always looking for agents, agents, and referrals. If you're joining us from YouTube, same thing. So that's one of the best things that you can do to help this class, because as you guys know I'm just sitting here staring at my slides and staring at myself and I wish wish wish wish I could see you guys so I love it when you guys check in. I promise today you will walk away from this class with a clearer understanding of what you should be tracking on a weekly cadence to help you reach your goals and the reason that this matters is that there are a lot of distractions in real estate. There are a lot of distractions in life. If we can make sure to narrow our focus on the things that are going to make the biggest difference, the likelihood of us reaching our goals is going to increase.

Recently, at the Tom Ferry Success Summit, it was really funny because I was sitting down, I wasn't looking up, but I was just listening to Tom and he was talking and all of a sudden he said something and I looked up and he had a huge screen of my scorecard. It's a scorecard that I created with some other coaches and my awesome operations manager and transaction coordinator, Kelcie and Rikki, they kind of engineered it to be able to use from the book Traction. And of course, Tom says from the stage, he says, and make sure you ask your coach about this. And I'm like, oh my gosh. So I immediately posted, hey, if you want a copy of it, let me know. This goes over best in a coaching call. And so I thought, what better way to be able to do this than to come onto the Resilient Realtor platform and to do a semi-background on why it's important to have an effective scorecard or scoreboard?

So let's jump into our topic today. And I want to give you guys a little bit of background. So the principles of the scorecard or the scoreboard, it come from traction and the four disciplines of execution, or what we also call 4DX. So there are three books that I really, really like that talk about this. So the first one is Traction. And I'll be perfectly honest with you. When Traction first came across, and I think it was probably three years ago, is when I first tried to read the book. And I say tried because it is so dry. It is a very, very dry book, but it is powerful and it's important. So if you're highly expressive like me, I promise you just like take your time, stick with it, and maybe even put together a book group. That's probably one of the easiest ways to do it. But since then, I've read Traction three times, and every time I go in, in fact, it's sitting right back here. It's highlighted. There are notes in it. I refer to it almost weekly with my coaching clients and with my own team. If you're going to listen to it on Audible, I highly recommend that you get a paper copy because this book is one that you're going to want to take notes in. The other book, which is one of my all-time favorites and I've been referring to it for over nine years, is called The Four Disciplines of Execution or 4DX. Four Disciplines of Execution is not as dry as Traction. It's a little bit of a lighter, easier read, but it is still very, very strategic. Both of these books are operating manuals on how to run your business, how to set goals, and how to be successful. I did want to briefly mention another book that I read a couple of years ago called Measure What Matters. This one is definitely technical and geared more towards, I even say tech companies. It's a lot from Google, they focus on OKRs, right? So, where's my cowboy hat? I really should put it on, I agree. Someone just asked, hello from Texas, where's your cowboy hat?

So, Traction is gonna focus on rocks and goals, and the Four Disciplines of Execution is gonna focus on wigs, which we're gonna go in. I'm going to combine both of them so that we can take the best of both books and use them in our business. So, let's talk a little bit about the scorecard in the book Traction. So Traction is about creating an entrepreneurial operating system. And the scorecard is to measure the weekly performance of the company. They want you to be able to see how you're performing. It consists of your KPIs, key performance indicators, the responsibilities, and who is responsible for what is inside the business, and then it has the goals and the actuals. So it's something to keep in front of you on a weekly cadence. And the reason for that is it wants to help you drive data decisions, right? So data-driven decision-making. And that's why they use a scorecard. It also provides you a quick snapshot of the health of the company, but also how likely are you to hit your goals?

And remember, when we're in the book traction, we're going to talk a lot about ROCs, and what that's referring to is goals. So just know in Traction, we're focused on ROCs. We're making data-driven decisions, and the scorecard is only one small chapter of the entire entrepreneurial operating system or the framework, also known as EOS. Now, in four disciplines of execution or 40X, they focus on WIGs, wildly important goals. So that is just some of the terminology. I'll go back and forth between the two of them, and then you can just decide what you want to call it within your own framework. But the purpose of the scorecard or the scoreboard, in fact, they call it a scoreboard in 40X is that they want you to track the team's progress. They want it up and visual, there is no escaping where we're at in relation to the goals. It provides real-time feedback so that you can make course corrections. That's truly the purpose of both a scorecard or a scoreboard, is that if you wait too long to make a course correction, you'll be really far off. So they want you to have these really important rocks or goals or wigs in front of you every single week so that you can make decisions to move your business. I'm going to take you through how and what you could be measuring and what it would look like. I'm going to give you guys some real-life examples of what it looks like in some of the systems and tools that are out there.

So here's the benefit of combining both the philosophy of traction and 40X. They both have a common framework. The focus is accountability and data-driven decision-making. Both of them have something that's up and visual so that you can track your business, right? Both of them are aligned with your overarching goal and where you're going. It's so that you can course-correct it quickly. Also, you just can't hide or someone in your organization can't hide. It becomes very noticeable if someone's not hitting what they're supposed to be hitting, and if our goal is going to be attained. Those are some of the things that by combining both of them, you're going to see the benefit to that. Let's talk about where we start. It starts with creating your goal or creating your wig or your rock where you're going to focus. The premise of this, and there are chapters devoted to this, so I'm just giving you the tiniest brief snapshot here is it should be specific and measurable with a clear deadline. If you are creating a wildly important goal, how much by when? So we've all heard of SMART goals. That's really what you can think of as. This is a SMART goal, how much and by when? And whether you call it a wig or you call it a rock, it is a goal that you are going after. And in both books, we talk about short-term goals and long-term goals.

The focus that I have in the scorecard that we use is our quarterly goals, and our quarterly goals come from our yearly goals, which then feed into our five-year and 10-year goals. So we're just kind of backward mapping where we want to be in the future, and then piecing it back to what we need to do in the next 90 days. The other big piece of creating these scorecards or scoreboards is that you need to act on the lead measure. So inside the book, the four disciplines of execution talk a lot about lead and lag measures. The lag measures are going to be the end result. So that's going to be your volume, your GCI, your closed units. The lead measures are the activities that are within your control to be able to influence whether you're going to hit the goal or not. And the scorecard should reflect both lag measures and lead measures so that we can act on the lead measures. Are we doing enough? So in real estate, the easiest way to think about this is to start at the lag measure, or the end result. We get a paycheck, right? What happens before we get a paycheck? Well, that means that we're under contract. To be able to get under contract, what's the next thing that comes before that? Well, we need to write offers. In order to be able to write offers, what comes before that? We need to be going on appointments, whether it's a showing appointment or a listing appointment. And to be able to go on an appointment, we need to have conversations. In order to have conversations, we need to dial. In order to dial, we need a prospect.

So you can kind of track that all the way back, and those are your lead measures. How many conversations am I having? How many appointments am I having? How many hours am I prospecting? All of those would be considered lead measures, and those are the things that you can directly influence. When you start to see patterns in your business, let's say that you're not getting enough contracts. You can go back to a lead measure. Well, are we setting enough appointments? Maybe we're going on the appointments, but we're not converting. Well, now we know where the hiccup is and what we need to focus on. Maybe we are going on the appointments, or maybe we're setting the appointments, but they're not showing up. Maybe we're not setting enough appointments. Well, then go back. Are we talking to enough people? If we're talking to enough people and we're setting enough appointments, then we know where the conversion problem is. These lead measures really help you course correct. Again, they are the pieces that you can influence on the goal. If you're only looking at it, I'll kind of switch gears and take this into a nutrition aspect. If you're only looking at pounds lost, right, you're leaving a lot up for guesswork. You have to go back and say, okay, what did I eat this week? How many steps did I get? How much water did I drink? What did my macros look like? All of those items would be considered your lead measures and your lag measures would be pounds lost on the scale. It's really important to find the right lead measures. Now, if you've never done this, it's going to take a little bit of maneuvering, right? You need to figure out what should focus on. And I'll tell you that our scorecard has had a couple of different iterations to make sure that we are focusing on the things that influence our goals the most. And this is where a coach or a mastermind really comes in handy. So as you are setting up your scorecard or your scoreboard, you might want to show it to someone and say, hey, does this look right? Does this have the correct activities that are going to help me achieve my goals? The next piece, after we act on the lead measures, we're going to keep a compelling scoreboard or scorecard. This becomes really important. You wanna see your progress. You don't wanna hide. You don't want it to be too late before you really are able to see where I am at in relation to my goal. There's a lot of psychology that goes into that as well to be able to see the progress that you're making, but it also comes down to up and visual, in front of you, don't let it hide. And there is, you know, depending on your organization, there may be an opportunity for some competition or just that extra drive. I know when I can see how many days in a row I've tracked my food on my Fitness Pal, it's like, I don't wanna miss a day. I've got over a year of tracking my meals every single day and I see that streak, right? That's part of my scorecard or my scoreboard for my fitness. I see this streak of tracking food. I see this streak of consistent workouts. Having something that's a visual like that in your business, you can see, and we've all seen Coach Jason Ferris, he's got a phenomenal Facebook post of his appointment goal and you see he wrote down how many appointments he wanted to go and how he crossed off each one. That's part of his scoreboard or his scorecard on his goal for appointments. So you do want to think about where this is going to be. You want it up, you want it visual, and you want it easy to read. So there's a lot of different ways you can do it. And I'm going to show you some different programs, but it could also be as simple as just on your whiteboard, on a big, huge Post-it. You don't have to overcomplicate it, because as you guys all know, complexity is the enemy to execution. So your scorecard or scoreboard should be easy, but visual and just like only the things that you need to understand. Before we go into scorecard making, though, let's talk a little bit about their philosophy on setting goals or identifying rocks or wigs, right? Because it's all the same terminology. In all three books, they suggest that you do not have more than three goals. By having more than three goals, the likelihood is that after taxes. That could be one area of your goals. The second area of your goals is probably after taxes. That could be one area of your goals. The second area of your goals is probably around your marketing and getting attention. How do we scale trust? How many followers?

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