Ever wondered how a shift from entrepreneurship to a 9-to-5 could possibly be exciting? Well, saddle up, Balanced Business Dads, because our latest conversation with a soon-to-be ex-entrepreneur member of the council unveils the allure of performance reviews. You'll hear firsthand how these evaluations can be more than just a managerial checkpoint; they're a key to steering your career with precision and can even be a booster shot of confidence! Plus, we're not just talking about feel-good moments here—these reviews can also serve as a reality check on whether you're truly excelling in your field.
In our dynamic chat, we also lay out a roadmap for you to create your own business scorecard, with inspiration drawn from the book "Traction." Discover the game-changing metrics that matter most, from revenue streams to customer leads, and learn to measure your business's heartbeat. This is about getting the upper hand on your business's performance, just like an athlete who keeps the game score in their sight at all times. Join Dustin Hoog for this transformative episode and start building a business that thrives under scrutiny, demands excellence, and celebrates every win with the fervor of a touchdown dance.
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Dads, do you want a thriving business that doesn't control you, a passionate marriage and kids that adore you? Do you want to grow deeper in your faith, be healthier both physically and mentally, build more meaningful relationships with your friends? Welcome to the Balanced Business Dad Podcast, where, in each episode, we dive into balancing and optimizing the six pillars of life Faith, health, marriage, fatherhood, brotherhood and business. And here are your hosts, pioneers of the Balanced Business Dad movement Dustin Hogue and RJ Campbell.
Coach Dustin:
Hey guys, and welcome to another episode of the Balanced Business. Dad. I'm your host, coach Dustin, and welcome to another episode, guys. I'm going to jump into it real quick. Today. This is going to be a short and sweet but informative episode. So I want to talk a little bit about today, about reviews and production reviews, personal reviews, whatever you want to talk about them.
Coach Dustin:
I was having this coaching conversation with a member of the council last week and he is actually in a place where he is selling his business and one of the things that came up with him. So now he's actually looking for a job where he's not going to be self-employed anymore. He wanted to go back into the workforce, sold his business for 14 years and is kind of feeling interesting about it. But one of the things he said is he's looking forward to having performance reviews. Now, that took me off guard for a minute, because I never really enjoyed performance reviews. Obviously, I'm going to assume most entrepreneurs didn't. However, what he said made a lot of sense.
Coach Dustin:
In a performance review, you have someone else kind of looking at you For lack of a better word. You have somebody kind of judging you and sometimes you can be pushed in the right direction, because you may or not be performing how you want to. But the other part is you could actually be told you're doing a good job. And see what we found is a lot of entrepreneurs, if they are doing performance reviews for themselves, they're too hard on themselves. And if you're going to be too hard on yourselves, the reality of it is you're probably not going to be producing at the highest level that you can produce at. See, when we are feeling good about ourselves, we are more confident. When we are more confident, we want to work more, we want to do more in that zone that we feel confident in, which should be our business right? So it did make a little bit of a sense after he said it that way about I'm excited for performance reviews, for someone to tell me I'm doing a good job. I'm also excited for performance reviews to see if I really am doing a good job. So it made me think, you know, at the data council that we have and the mastermind that is ran with the Balanced Business Dad, at our retreats, we have something called the balance sheet and the balance sheet really is a scorecard. So it's kind of like a performance review. So I'm going to encourage you who don't have a scorecard in your business right now to develop one.
Coach Dustin:
I run a scorecard in every one of our businesses and I got that from the book Traction which you've heard me talk about a little bit. But in that book it talks about that you need to be able to score yourself and your business on anywhere between five to seven items that are of the utmost importance in your business. Maybe it's revenue collected, maybe it's accounts receivable, past due bills, whatever it may be, maybe it's leads coming into the business. I don't know without talking to your business, obviously, but there's certain items you need to take account of, right. So do you have that right? Because that's where that performance review comes in, and I know we were kind of talking about performance reviews here, but it also leads into the score conversation, because you got to know the score of your business, right.
Coach Dustin:
That's the tip for today. Do you know the score of your business? Do you know if you're winning, do you know if you're losing and if you're behind, how far are you behind? And I'm not just talking about this goal, maybe the goal board on there, but of every number that's important in your business. You, as the business owner have to know the score. There's not an athlete out there that during a game, they don't know the score. There's not an athlete out there that during the game, they don't know the score right, because that's the number one thing. So score yourself, score your business, have a scorecard. If you're the only one operating in your business, then you have this performance review every single week with yourself to go over these numbers. You can start scoring yourself, you can start making sure that you're on track. So if you're off track, it doesn't go that far off track. Guys, I hope this made sense. I hope you are learning from this and you're going to implement some of these things in your business and your life.
Coach Dustin:
Remember, here at the Balanced Business, dad, we talk about the six pillars, because it's six pillars of life, but it's one you and as always, that's faith, health, marriage, fatherhood, brotherhood and business, in that order. This episode was about business, but I can also challenge that says your performance review and your scorecard. You can put in any pillar, your performance review and your scorecard. You can put in any pillar, right? Maybe you jump, maybe you take score of the marriage. You know how many date nights did we go on this month, and this is something that you necessarily have to talk about like to keep score of a marriage, but it's hey, I lacked this month in showing my wife how I love them, or showing my wife how I love her. So I need to make sure I'm raising that, because I know the score, because it's my score. Dads, this is what I have today. Remember to dad up, because the people in your life who love you the most deserve for you to be at your best. Dad up and until next time. I'll talk to you next week.