The Business Life Balance Wheel – A Podcast by Business Set
We continue to share content from our partners: the second episode of the podcast "Business Set and SILA Union: Strong Solutions" has been released, featuring Anton Antipin, CEO of Business Set. In this episode, he discusses the concept of the Business Life Balance Wheel and the relevance of this tool.
Podcast link: https://t.me/mavestreambot/app?startapp=businessset-and-sila_2
Supporting materials: https://disk.yandex.ru/i/8qA1ADXLDoyiKw
Many of you actively use the Life Balance Wheel for personal goal setting, a well-known tool in life and time management. Anton Antipin suggests applying the Balance Wheel in business as well. Within the extensive suite of business analytics tools in SILA Union, there are widely recognized frameworks such as BSC (Balanced Scorecard), OKR (Objectives and Key Results), and even Peter Drucker’s goal-setting tree (MBO). Specifically for working with the Business Life Balance Wheel, the Business Set team utilizes graphical models, embedded spreadsheets, matrices, and dashboards.
Key Steps for Implementation
1. Assessing the Current State
Using Graphical Models: Visualizing the segments of the Business Life Balance Wheel helps to understand the current state of each element.
Evaluation Matrices: Gathering segment ratings in a session with key employees provides more objective data.
2. Analysis and Visualization
Spreadsheets: Summarizing the ratings for each segment allows for further analysis.
Dashboards: Visualizing the evaluation results aids in management decision-making.
3. Building Diagrams
Business Life Balance Wheel: An ideal wheel should be balanced, with evenly sized segments.
"Lawn" Diagram: A proprietary methodology by Business Set, metaphorically linking the quality of business processes to the quality of the "lawn" on which business activities take place.
4. Imbalance Coefficient
Calculated as the difference between the highest and lowest segment ratings. The higher the coefficient, the more imbalanced the business is.
5. Goal Formation
Based on the collected data, specific goals are set for the next reporting period. Examples:
If there are issues with strategy – it needs to be developed and communicated to employees.
If business processes are weak – they should be documented and optimized.
If the product portfolio is unclear – an analysis and structuring should be conducted.
Using the Business Life Balance Wheel as a tool for business evaluation and management opens up numerous opportunities for improvement. Leveraging SILA Union for visualization and data analysis makes the process more efficient and transparent. This helps teams focus on priorities and clearly identify ways to achieve a balanced and successful business.
Expand your range of tools, use SILA Union to visualize and assess your company’s Business Life Balance Wheel, and make your business more successful.
Learn about the selection of segments for the Business Life Balance Wheel in the first episode of the podcast: https://t.me/mavestreambot/app?startapp=businessset-and-sila_1
If you would like to create a Business Life Balance Wheel for your company right now, Business Set specialists can help you solve this task quickly, efficiently, and effectively: https://busset.ru/
