“Imbalance sheet” is strictly financial spreadsheet terminology. Max first ran across it working at a Kmart in Lorain, Ohio, a small city on the coast of Lake Erie between Cleveland and Detroit.
At the time, it was commonplace to keep bookkeeping records on large green analysis pads. Lucy, the store’s bookkeeper, said the books never balanced the first time. She began calling it her “Imbalance Sheet”. She would spend hours going through several hundred of the week’s entries trying to find a number that was only a few pennies off.
With computer technology today books normally balance themselves, but not necessarily to the exact number (due to rounding) or to the manually maintained cash drawer. Also today’s Excel spreadsheets can be thrown off balance with an incorrect formula embedded within in. Talent is required to find the wrong formula much the same way Lucy had to analyze her imbalance sheets.
It is this second fact that has allowed the “Imbalance Sheets” to transcend the age of technology.
Max wants you to know about the imbalance sheet because it relates to self-confidence. Lucy was not confident in her abilities. Despite being one of the best bookkeepers Lucy had no confidence in her ability.
Eliminate imbalance sheets by building the confidence of your employees and peers. Point out the successes on a regular basis until they believe in their talent.
Use this term for developing skills in these areas:
A Bizerm™ is a new business term combining two descriptive words into a single word or phrase whose definition is often only known by those using it. To see more terminology in the workplace, click here.