EOS Scorecard: Turning Data into Your Superpower

Welcome back to the Business Builder newsletter. In today's issue, I'll explain what the EOS Traction Scorecard is, how it works, and share my experiences with implementing it in our business.

What is the EOS Scorecard?

The EOS Scorecard is a simple but powerful tool that allows you to track the key performance indicators (KPIs) that are most important to your company.

It's designed to be used on a weekly basis, enabling you to measure progress and hold team members accountable. The scorecard is broken down into eight to fifteen KPIs that are specific to your business and aligned with your company's goals and vision.

Each KPI is given a score of 1-5, with 5 being the best. The idea behind the scorecard is to provide a clear way to measure progress and identify areas where additional support is needed.

How Does the Scorecard Work?

The EOS Traction Scorecard is designed to be used weekly. Team members report their progress on each KPI, and the scorecard is updated accordingly.

The scores are categorized by a simple traffic light system:

• Green: KPIs on track to achieve the goal

• Yellow: KPIs within 95% of the target

• Red: KPIs are not on track to achieve the goal by the period's end

By using the scorecard weekly, you can quickly identify areas where progress is being made and areas where additional support is needed.

The scorecard also provides accountability, as team members are responsible for reporting their progress and explaining areas where they are not on track to achieve the goal.

Our Adaptation of the EOS Scorecard

Unlike the standard EOS approach, we've linked our scorecard to our company values, reducing it to five essential elements.

For example, we have an element in our scorecard called "posts", and it's described as “Learn and Share”, reflecting our value of learning.

It tracks the number of posts shared internally and externally each week, emphasizing our position as thought leaders in consulting.

Another element, "Meaningful Interaction Records (MIRs)," supports our value of creativity. It tracks all the meaningful interactions done weekly.

We define a meaningful interaction as something that moves the needle and is done creatively during the week. Each team member aims for at least three MIRs weekly, and we track the number achieved.

The final element in our scorecard is called "Orchids and Onions," which captures customer feedback. “Orchids” are when customers praise us, and “Onions” are when they speak about something that needs improvement.

I’ll keep sharing the EOS method as we continue the series. Next week’s focus will be on the Vision Traction Organizer tool.

Stay tuned.