For long, we have been familiar with Drs. Norton and Kaplan’s Balanced Score Card (or its derivatives) that provides us with a quantified performance state of organizations, as well as, enable us to plan transformational initiatives with quantified goals.
Have you ever wondered what it would look like if, instead of an organization, we apply the same to our own selves, as individuals? Meditations in a few idle moments and this is what I felt it would look like and the tools I will use for the same…
Individual wealth specific measurements are easy to quantify and record.
In personal life, I am a great fan of Gnucash, the finest free accounting software that allows a true double-entry book-keeping.
I have been using this software for getting Balance Sheet snapshots, investment portfolio analysis, computing my personal P&L and for predicting cash-flow requirements for the month ahead. It does involve a bit of rigour to maintain – but with experience and simplification of account heads, I have managed to contain the time needed to maintain this to within a 30 minute per week routine.
Learning & Growth
As humans, we actually learn and grow by the day. It is second nature to us. So, what and how could I get a perspective on this about my own self?
In my view, it should be a journal in which, through simple mechanisms, I should be able to record the following:
- What did I do today that I did better than I did yesterday?
- What did I learn today that I didn’t know yesterday?
This could be an idea for an App that someone can build – have not seen one that does this yet.
What is the internal process? Some theologists say that it is a combination of things ranging from righteous & sinful acts in my previous birth to the kind of food I intake.
I would simply state this to be a measure of health – both physical and emotional; something that could be measured and maintained in a set of applications for clinical test results (BP, Blood Serum qualities), exercises, dietary details, substance abuse (alcoholic drinks, cigarettes etc.) and perhaps an app that prompts users to log their current emotions at random intervals during the day.
The last perspective, but by no means the least, is that related to the customer. Who is the customer for my life? My initial thought was that I am the customer! But that sounded too selfish… A little more thought and I realized that I exist to serve my family, friends and various social units around me!
It may not be possible to get Net Promoter Score for me as an individual but a measure can be instituted to calculate the amount of time I spend with work, family, friends or a social cause – maybe an app that prompts the user to record who they are with at random intervals during a day.
The Strategy Map
Given that for defining a strategy to transform one’s life, there is a need to establish a cause-and-effect chain across the perspectives of the Balanced Scorecard, I realize that the Finance Perspective and the Learning & Growth perspective actually help to drive the Internal Process which, in turn, enables one to serve the “customers” better!
A very different objective compared to what organizations aspire for indeed and it gives a whole new meaning to the phrase “healthy, wealthy and wise”…