bCARD
Balanced Scorecard for startups
The Balanced Scorecard is a strategy framework that not only helps you manage and keep track of your venture’s objectives and health parameters but also gives your venture a balanced diet for growth. A balanced diet provides all the nutrients a person requires, without going over the recommended daily calorie intake. By eating a balanced diet, people can get the right nutrients and calories they need and avoid eating junk food, or food without nutritional value. The same applies to an organisation.
Often when seized with the $billion-dollar idea or chasing the next dream feature upgrade on your product sprints, entrepreneurs and founders of start-ups can lose track of other key performance parameters and vitals of the firm. Often resources, functions and people could be working frenetically without being aligned. Most of the times it becomes a bit late in the day when one figures out that key vitals of the firm have lagged behind and hence keeping it from the desired success and outcomes.
The Balanced Score Card strategy helps align and integrate the day-to-day work that everyone, across functions or rank and file and through the value chain of your firm is doing with strategy. This helps the organisation prioritise the right projects, products, services and interventions.