Proven Benefits of Using a Personal Balance Scorecard

By • August 10, 2023| Focus, Self Improvement

If you want to improve productivity and achieve personal goals but don’t know how to monitor progress, a balanced scorecard is right for you.

I thought of “trying” a personal BSC when I read  Rampersad‘s book “Authentic Governance” decades back. After years of researching,  using and tweaking a personal balance scorecard, I am reaping some good results. This is what I am sharing in this post.

Businesses use The Balance Score Card (BSC) framework to clearly lay out their goals, identify priorities, targets, the task/activities needed to achieve those goals and the metrics to monitor progress and achievement. It was first developed by Dr. Robert Kaplan and Dr. David Norton in the early 1990’s and is continually being used and refined alongside many other strategic business tools.  I’ve been using the balanced scorecard in many of my work projects and goals for sometime now.  The clarity and focus it gave my team is tremendous.

I’ve been thinking early on, why not use it for my personal goals? What are the benefits of using a personal balance score card? Here’s what I’m reaping so far:

  • Clarity of Goals: Applying the BSC concept to personal goals helps individuals define their objectives across different areas of their lives, such as career, health, relationships, and personal development. The clarity I get from just even laying out my goals, lead to better focus and direction.
  • Balance: A personal balanced scorecard is a holistic way to promotes balance between different aspects of an individual’s life. This can help prevent neglecting one area at the expense of others.
  • Strategic Execution: By breaking down personal strategic goals into actionable measures, targets, and initiatives, the BSC assists in translating strategy into concrete actions, making it easier to track progress and take corrective measures as needed.
  • Motivation: Tracking progress on personal metrics can be motivating. Seeing improvement in various areas can boost self-esteem and encourage continued effort.
  • Prioritization: By setting and monitoring key metrics for personal goals, individuals can prioritize their activities more effectively and allocate their time and resources in alignment with what matters most to them.
  • Clear Communication: The framework facilitates clear communication of your personal  strategic goals and objectives to many of your support network- family, relatives, friends and even colleagues. This enhances their understanding and support for your personal direction.
  • Adaptability: Regularly reviewing personal metrics allows individuals to adapt their strategies and actions based on changing circumstances or priorities.
  • Long-Term Vision: The BSC encourages thinking about both short-term and long-term objectives. This can help individuals avoid short-sighted decisions that might provide immediate benefits but undermine long-term goals.
  • Performance Monitoring: The BSC provides a structured way to monitor personal performance over time. Regularly tracking and reviewing personal key performance indicators (KPIs) helps me identify my strengths, weaknesses, and areas for improvement.
  • Timely Reviews– PBSC pushes me to do timely reviews of my personal performance. I do quarterly “personal” reviews (ia my journal)  so I can adjust or “tweak” anything on my PBSC to keep track on my goals.

Remember that the effectiveness of using a personal balanced scorecard depends on proper implementation, consistent tracking, and a commitment to using the insights gained to drive positive personal development.

Image by StartupStockPhotos from Pixabay

Last modified: August 12, 2023

About the Author /

I've been writing about continuous improvement, habits and productivity since 2007.

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