Do you have inner scorecard, like Warren Buffet?
Parent Post
The Inner Scorecard is
The Inner Scorecard is now popular in sports and business.
@AlabamaFTBL coach Nick Saban is the best college football coach of all time.
He runs his program by it.
(He calls it “scoreboard.” Same thing). https://t.co/YDLOJBa43j
The Outer Scorecard is
The Outer Scorecard is fickle.
It’s defined by what the world thinks.
The problem is it’s outcome-focused.
Outcomes are mostly out of your control.
Playing by this scorecard is a fool’s game.
@AlabamaFTBL Let’s say you’re
@AlabamaFTBL Let’s say you’re a startup CEO.
Outer Scorecard example:
• Raise $50 million
• Be on Forbes 40 under 40
• Win “best new startup” award
Inner Scorecard example:
• Make your pitch amazing
• Build a fantastic business
• Relentlessly execute every day
@AlabamaFTBL Let’s say you
@AlabamaFTBL Let’s say you sell cars.
Outer Scorecard example:
• Make $350,000 this year
• Win top salesperson award
• Get promoted
Inner Scorecard example:
• Improve sales skills every day
• Obsess over every customer
• Make each sales call great
The Inner ScorecardThis is
The Inner Scorecard
This is how the best measure success.
• Effort
• Values
• Principles
• Standards
• Excellence
• Commitment
• Performance
It’s based on intrinsic motivation.
The Inner Scorecard has
The Inner Scorecard has simple principles:
• Live in the present
• Focus on the process
• Ignore all external voices
• Perform to your standard
• Forget about the outcome
Nothing else matters.
Warren Buffet is worth
Warren Buffet is worth $116 billion.
Nick Saban has won 7 national titles.
Both live by the “Inner Scorecard.”
Here’s what it is + how you can use it:
@AlabamaFTBL Key Takeaways• 2
@AlabamaFTBL Key Takeaways
• 2 ways to measure success
• The Inner Scorecard is intrinsic
• The Outer Scorecard is extrinsic
• The best live by an Inner Scorecard
How you measure success will largely determine how successful you’ll be.
The Outer ScorecardThis is
The Outer Scorecard
This is how most measure success.
• Fame
• Money
• Status
• Influence
• Accolades
• Recognition
• Achievement
It’s based on extrinsic motivation.
@AlabamaFTBL So we know
@AlabamaFTBL So we know what the Inner Scorecard is.
They key question now:
How do you develop one for your life?
It’s highly individual.
Much more art than science.
But these 3 questions will guide you:
@AlabamaFTBL • What are
@AlabamaFTBL • What are my core values?
Your values drive your behavior.
Your behavior drives the Inner Scorecard.
Examples of values:
• Courage
• Integrity
• Service
• Ownership
Your values can be almost anything.
Clarifying them is a good first step.
The Inner Scorecard concept
The Inner Scorecard concept is usually credited to Warren Buffett.
Buffett’s dad taught it to him, and the billionaire has lived his life by it. https://t.co/TXvx9b3jQy
The Inner Scorecard is
The Inner Scorecard is reliable.
It’s defined only by what you think.
It’s beauty is it is process-focused.
The process is all within your control.
The best play by this scorecard.
@AlabamaFTBL • What is
@AlabamaFTBL • What is my personal standard?
We all need to decide.
Are we good with “good enough?”
Or do we want to maximize our potential?
Your standards guide your Inner Scorecard.
@AlabamaFTBL • How good
@AlabamaFTBL • How good do I want to be?
Good.
Great.
Your best.
Which one is it?
How you answer will influence your scorecard.
There are 2 ways
There are 2 ways to measure success:
• Outer Scorecard
• Inner Scorecard
Most people use one.
The best use the other.
Let’s break them down.