As contractors get larger it becomes more challenging to keep everyone aligned around the strategy and the key measures of success. To keep your scoreboard improving on all key measures you will need to develop some operating rhythms and feedback systems (https://dbmgt.co/2Ju4Tjx) that align every functional area and team member effectively. All businesses have faced this challenge throughout history as they have scaled. There is no single prescriptive tool that will work for every contractor. Study what other companies have done and how the body of knowledge has evolved over time then develop systems that work for you. Below are some resources that are all interrelated going back to the 1950’s: > Management By Objectives (MBO) / Management By Results (MBR): Peter Drucker’s original codification of these principles. https://dbmgt.co/2J8cchw > Objectives and Key Results (OKR): A disciplined quarterly process including stretch goals cascading from the company level through individuals. https://dbmgt.co/2xPqZbA > 4 Disciplines of Execution (4DX): Continued building upon the body of knowledge by the team at Franklin-Covey. https://dbmgt.co/2JhV3OF https://dbmgt.co/2FJmaj7 Discuss further: https://dbmgt.co/contact #construction
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There are many "Strategic Possibilities" developed from "Strategic Brainstorming" that must be explored to make choices that will best position a contractor to win over the long-term. These "Strategic Decisions" must be made and integrated at all levels. #strategy #dbmteam
Levels of Strategic Decisions (The Basics)
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The business of building is largely about aligning projects and people. The Talent Value Stream (TVS) ensures talent will never be a constraint to your growth. #businessplanning #talentvaluestream #dbmteam
Talent Value Stream (TVS): The Basics
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As a contractor navigates the different stages of growth, the complexity of their business model evolves, including their organizational structure, management systems, and people. Seeing this model visually helps identify bottlenecks and constraints. #businessmanagement #businessplanning #strategy #dbmteam
Contractors Business Model
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Every contractor will navigate very predictable stages of growth. Each of these represents about a tripling of headcount and requires different leadership focus, strategies, structures, and systems. Stress and failure points are also very predictable. #leadership #management #strategy #dbmteam
Stages of Contractor Growth and Growth Inflection Points
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Building projects requires technical expertise and resources. Building a construction business is about developing and aligning those capabilities with customers. Growth and time require different leadership focus, strategies, systems, and structure. #career #management #strategy #talent #dbmteam
The Business of Building
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Decision quality IS NOT linearly related to information quantity. In complex environments with elements of uncertainty, data quantity quickly reaches a point of diminishing returns but increases decision confidence which puts you into the danger zone. #businessmanagement #strategy #talent #dbmteam
Decision Quality and Information Quanity
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Defining what you want in quantifiable outcomes is extremely difficult. It's 10X harder to define those outcomes throughout the whole company from field to CEO. Defining the leading activities that create those outcomes is another 10X more difficult. #businessmanagement #metrics #dbmteam
Contractor Scoreboard - Disciplined Execution
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Outcomes are created through doing the right activities. Data is only a proxy for that activity and a metric is a synthesis of lots of data points. Metrics are valuable, but always have a skeptical view of proxies for performance - especially with growth. #businessmanagement #scoreboard #technology #dbmteam
Connecting Metrics to Activities and Outcomes
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There is a high correlation between contractors that have consistently GREAT safety records and consistently GREAT profitability, growth, morale and talent retention. #culture #safety #talent #dbmteam
Correlation Between Safety Culture and Profitability and Growth
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5ySo, true he larger you get the harder it is to get alignment. But, it is impossible to get alignment when the mission is unknown to the rank and file which produces stress, anxiety and eventually chaos.