A balanced scorecard is a comprehensive, thorough overview of a golf course’s performance across the entire company with a strong focus on vision, strategy and return on investment.
Every golf course should have a balanced scorecard to ensure every department is maximizing its potential. Most golf course owners automatically look for assets and liabilities when they are looking at a balance sheet.
Every department must have qualities that make that department an asset to the overall business and the bottom line. For example, the bookkeeping and accounting office should have a system in place to lower costs and maximize collections.
There are numerous ways your bookkeeper can help you save money and therefore increase revenue. This does not mean to start cutting cost at every turn.
Every profit center should have a balanced scorecard to ensure they produced the desired result. When departments are held accountable for revenue, increasing profits, developing new revenue streams, etc., they have to become more creative and therefore more productive.
The challenge is most opportunities for increasing revenue streams are often overlooked. Every department must have a scorecard so you can make sure the new strategy is bringing a return on your investment.
This also makes every employee of the golf course be more conscientious of the bottom line. This balanced scorecard will ignite creativity and enthusiasm in your staff. Employees should be self-sufficient when it comes to providing enough revenue to cover their costs and you can ensure a greater return on your investment by incorporating a balanced scorecard for the business overall.
For more free tips on growing the game, increasing rounds through golf course marketing, golf marketing, golf course campaigns, golf campaigns, professional golf membership sales and advancing your golf career visit us today @ www.golfmarketingmmc.com or call 904-217-3762.