The Contractor Scoreboard - A Contractor Must Do 3 Things

This outcome-based scoreboard keeps everyone focused on what matters. 3 Must Do Metrics + 3 Supporting Metrics.

D. Brown Management Profile Picture
Share

With this scoreboard contractors must keep everyone focused on the most important objectives that will improve their score. 

 

3 MUST DO’s

  1. Delight Your Customers:  You can formally measure this through a formal system like NPS (Net Promoter System) or just by measuring your repeat business.  Few things are more profitable than doing negotiated work for a select group of customers who are growing.  
  2. Make a Profit:  Contracting is high-risk and must produce a good return.  The changes coming up in the industry will demand major investments just to remain competitive.  The capital for these comes from profitability.  
  3. Generate Cash:  Contracting is risky enough without providing free financing for the project owner.  Do your processes and people consistently deliver projects with good cash flow?

 

3 SUPPORTING METRICS

  1. Sustainable Growth:  If you aren’t growing you won’t attract or retain the best talent.  If you are growing too fast or sporadically it will impact some or all of your other metrics. 
  2. Safety:  A truly great safety record can only be achieved with the right culture and that positively impacts every other metric.  
  3. Succession at All Levels:  Do you have a consistent pipeline of talent being recruiting and developed at all levels to support sustainable growth?  

 


Align Your Team & Improve Your Scoreboard



Related Training

Owner Occupied Real Estate for Contractors - Lease or Buy?
There is no simple answer to this question. Much of the advice you will get has bias attached. Start your decision making process by building your own models and making general assumptions looking into the future. Use this Excel model to start.
The Cost of Specializaton
Learn the right balance between specialists and generalists. Specialization is great and is what has allowed all of us to continually experience improved lives for generations. However, when taken too far, specialization can become a liability.
Contractor Profiles in Recession Management
3X your profitability during a recession. Look at how you performed during the last recession then evaluate your current readiness and plan your next steps.