What Does Your Business Dashboard Look Like? image

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What Does Your Business Dashboard Look Like?

Written by Jeremy Praud, Head of UK & Europe at LI Europe.

Very rarely do we embark on a long car journey without doing some planning. The first step is usually planning which route will be most efficient. We take into consideration the time of day, the amount of traffic, the terrain and other factors, then select the most appropriate route for our needs and the capabilities of our vehicle.

We decide what time we want to arrive and what time we need to set off. We calculate how much fuel we’ll need, and check our vehicle – tyres, engine, oil, water – to ensure it is fit for purpose. Then, throughout our journey, we check we’re on track by consulting our dashboard.

Our vehicle dashboards provide us with lots of essential information. We can see how fast we are going, how far we have travelled, whether we have enough fuel to complete our journey, whether our vehicle is safe to drive.

Information from our odometer and speedometer allows us to calculate our expected time of arrival. Warning lights give us the opportunity to adapt our plans to ensure we can still complete our journey. If we are running low on fuel, we schedule a fuel stop.

Every instrument on our dashboard provides us with key information to ensure we complete our journey safely and successfully. We are so used to having this information to hand that we take it for granted and barely give a thought to how important it is.

If we think about it, our dashboard can teach us valuable lessons about how we track things in our business to ensure we meet our goals safely.

Planning an improvement strategy is like planning a long car journey. You need to plan how you will arrive at your desired destination and what you will measure along the way to ensure efficiency.

In the same way that a car tracks safety, speed, distance, fuel and RPM, manufacturers need to track safety, quality, delivery, cost and engagement.

Without tracking every area, we can’t tell if success in one area is compromising another. If we only measured the distance our car had travelled, we wouldn’t know if we were driving at a safe speed. In business, if we only tracked sales and not cost, we wouldn’t know if we were making a profit.

It sounds straightforward, and the theory behind it is. The problem is that businesses often become so focused on improvement in one area that they forget to pay attention to another. It’s like watching your speedometer so closely that you forget to check your fuel gauge.

Goal setting is all well and good, but there must be appropriate KPIs to measure along the way. Otherwise, it’s like just getting in your car, setting off and hoping that you’ll reach your destination at some point. You could quite easily end up driving around in circles or running out of fuel in the middle of nowhere.

Rather than simply picking a destination out of thin air and hoping for the best, plan your improvement strategy. Then decide what your business dashboard will look like to keep you on track. Like a car dashboard, employees should become so used to having that information to refer to that they can interpret the data and adapt accordingly without a second thought.

If everyone understands the destination and how to get there, then the journey will be more enjoyable. 

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