Tuesday, January 28, 2014

Personal Balanced Scorecard


Balance is achieved when there is alignment among the components of an entity, whether it is an organization or a human being. In business, a tool called the balanced scorecard was introduced (Kaplan & Norton, The Balanced Scorecard, 1996) to help organizations focus on four key areas: customers, employees, finance, and internal processes. (For further discussion of this tool, see the article
This concept can be applied in many contexts, including one’s personal life. Over the years, I have found the practice of aligning key life elements to be an effective way of creating and maintaining balance. The four areas in such a personal scorecard are physical, mental, emotional, and spiritual. Within each area are one or two measures that indicate progress toward desired goals. Although it’s possible that each area is of equal importance, typically they are not. Consequently we assign a weight to each area in the form of a percentage, with a minimum of 10% per area, to total 100%.

The benefits of using a personal scorecard include the following:
■ Clarity: we are compelled to examine our lives to determine what we want     and how each area supports us in getting there
 ■ Simplicity: there are only two or three measures for each area.
■ Accountability: we have measures to identify our progress and stay on   course.
■ Focus: having only a few measures enables us to concentrate on what's    really important.

 An example of a Personal Scorecard is illustrated below.
Physical
-         Get at least 7 hours of sleep each night.
-         Exercise at least 30 minutes four days/week.
-         Eat three balanced meals each day
Weight: 25%
Mental
-         Make evidence-based decisions
-         Engage in positive self-talk daily
-         Create realistic expectations

Weight: 30%

Emotional
-         Be kind to yourself every day
-         Face your fears and doubts
-         Do at least one fun thing every day
 Weight: 15%
Spiritual
-         Follow the lead of your inner spirit
-         Listen for guidance every day
-         Act on your intuition

Weight: 30%

These kinds of tools provide focus and clarity. Setting our own personal scorecard helps us in having a balance of all aspects of our lives and have control in all times not only in times of adversity

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