Even in the small business world, thanks in part to EOS™ jargon and those periodic meetings of the CEO club, I’m finding more and more of my new clients have a North Star metric that is supposed to be their organization’s center of gravity.
By the way, I have nothing against EOS™ or Vistage-like meetings. I’m one of those financial executives who want their clients attending Strategic Coach. My hangup with the aforementioned coaching organizations is that they are heavy on production units rather than addressing the heart of my clients’ unique business models. Their formulaic approach to business does not address the unique challenges of the business models my clients are navigating.
Back to North Star metrics. If I have one piece of constructive criticism on these all-important vital numbers, it’s that they lack an equally paired number to ensure the North Star metric is NEVER leading us astray.
What I’m referring to are bedrock or anchor metrics, which serve one purpose: a strong grounding for our North Star target. Yes, we want performance excellence, but we need results that are healthy for those we serve and for those delivering those results, the team.
In the paragraphs that follow, let’s do the following:
- define a bedrock or anchor metric
- how to and how not to construct these numbers
- how to ensure we keep our eye on these numbers, not just the North Star
- how to address behavioral challenges with these types of numbers
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