To keep your scoreboard improving on all key measures you will need to develop some operating rhythms and feedback systems 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.
- Objectives and Key Results (OKR): A disciplined quarterly process including stretch goals cascading from the company level through individuals.
- 4 Disciplines of Execution (4DX): Continued building upon the body of knowledge by the team at Franklin-Covey.
Cash Flow is only one metric of the broader Contractor Scoreboard.
For maximum impact it’s important to develop an integrated system that works for your company. It must tie together everything from your strategy through your individual functional area business plans all the way into job descriptions, individual performance feedback and the interviewing process for new team members.