Got a desert island dashboard?
Living under lockdown means that business owners can’t just drop by a colleague to get a progress check on something. Yes we have phones and Zoom, but working remotely doesn’t deliver the feeling of connection that face-to-face provides.
So what are the key pieces of information we need when everyone is separated? As a business owner, I think the ‘Desert Island Approach’ is a good start point. Imagine you’ve been forced to live on an island for six months. You’ll receive just one update a week from the team running your firm – restricted to five items of information.
You’ll want evidence that the business is safe. Data demonstrating whether it’s going forward or back. Confirmation that your team is OK. Another relating to your clients. You may find that narrowing it down proves to be harder than you think.
Once you’ve got your five, ask your leadership team the same question. Refine the list to identify and agree the five core items of management information you need on the dashboard – at the same time, each week, without fail.
When everyone is separated, you can feel slightly adrift, so this is a good way to anchor the fundamentals. Because we can’t manage what we can’t measure.
To get a real feel for how well your business is doing week on week, what five numbers would you choose?
Chartered Financial Planner
Managing Director & Founder