Simple Scoreboard Secrets

Let's talk about scoreboards.

They’re super important to the way we do Open Book Management. But I’ve noticed people have a tendency to overcomplicate them.

I want to clear up a few points, so let’s do that with a behind-the-scenes story from my own agency:

We use scoreboards everywhere.

But until recently, our content team didn’t have one.

They already had a solid tracking system in place (a big spreadsheet called the “Holding Tank”) that follows content from assignment, to editing, to publishing.

But it was getting a bit complex.

So I asked the team to turn it into a simple scoreboard that focused on just a few metrics.

One person came back to me with an idea.

They suggested we build an automated system to pull metrics from the Holding Tank to the scoreboard.

And it was all very sophisticated...

But automation defeats the point!

Because the goal of a scoreboard isn’t just to create reports.

What actually matters is:

1. Each employee should go through their line items by hand, understanding and taking ownership of their metrics.

2. They should be Forward Forecasting those metrics for the rest of the month or into the next.

This hands-on process is the magic that makes scoreboards work.

Automation becomes a crutch, giving people an excuse not to engage with their numbers.

This is also why every scoreboard should track both lag and lead measures.

• Lag measures show results that have already happened. If we only track last month’s data, it’ll be too late to fix urgent issues.

• Lead measures (“drivers” in GGOB) are actions and inputs we can control right now that impact those results.

Tracking both lets us forecast results, course-correct early, and stay on track to hit benchmarks before the month ends.

And two more misconceptions I want to clear up...

A scoreboard does not have to be complicated.

It can literally just be a spreadsheet!

We've used scoreboards with our clients for ages. We just called them “reports” until we officially implemented GGOB for them.

Same tool, different name.

The main difference is, scoreboards focus on our Critical Numbers and their drivers, and we combine that with Forward Forecasting.

They don’t need to be themed or crammed full of gimmicks.

Think of a football scoreboard.

There’s no crazy theme. You just see the important numbers: the score, the time left, and what down it is.

You know at a glance if your team is winning or losing.

And that’s exactly what your agency’s scoreboard should do for you!

Ready to get real clarity on your agency’s financials?

If you’d like to:

• Turn confusing reports into clear, simple scoreboards

• Spot profit problems while there’s still time to fix them

• Know at a glance if your business is winning or losing every month

Then let’s talk about implementing Open Book Management into your business.

Book a free 30-minute strategy call with me here.

Here’s to keeping it simple,

— Nick Kringas
Founder of Open Book CFO