We are starting from scratch with our first scorecard and have absolutely no historical data to base our targets on. How do we pick our first five to fifteen numbers without getting stuck in analysis paralysis?

Question

Tyler Smith · Accepted Answer

Do not let a lack of historical data stop you from building your first scorecard. The secret to getting started is to accept that your first scorecard will be wrong. Your goal is simply to start tracking. To pick your first five to fifteen numbers, look at your Accountability Chart and identify the key seats. Every major function of your business like sales, marketing, operations, and finance must have at least one weekly number on the scorecard. Ask each seat holder what single weekly activity they must perform to ensure their department is healthy. For sales, it might be outbound calls. For operations, it might be jobs completed. Once you have identified these basic activities, set a temporary baseline target based on a reasonable estimate or a gut feeling. Do not spend weeks analyzing spreadsheets. Run with these estimated targets for four to six weeks. During this time, you will accumulate the historical data you need to adjust the targets to be more realistic. A bad scorecard is better than no scorecard because it initiates the habit of managing by data. Over time, you will refine, swap, and improve these metrics during your quarterly meetings until you have a highly predictive dashboard.