Making Decisions Effectively

Contractors must invest in accelerating the development of leadership talent and a big part of leadership is about making the right decisions in difficult situations.

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The impact of the critical talent shortage in construction will continue to get worse.

Reading List: Learn How to Make Decisions Effectively. Book: Principles by Ray Dalio.

Principles by Ray Dalio is not only a great book but more importantly is the example of how it was created, how it is used, how it is refined (PDCA - Plan > Do > Check > Adjust) weekly and how it is formatted.

Every leader of a construction company should consider not only which of these principles apply to their business but more importantly how to start codifying then training others on their own decision making processes.  

What would it be worth for your company if you could accelerate the development of your leadership talent?

If you are nearing retirement age what would it be worth to the industry if you could unlock the decades of experience in your head?  

We provide a full range of management advisory, coaching and training services to contractors.  More than half of our time is directly spend on talent including preparing for succession at all levels. 

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Definition - Deliberate Practice
Practicing with a clear awareness of the specific components of a skill we are working to improve, and exactly how to improve them. It is not simply doing something repetitively for enjoyment or until it becomes mindless.
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There is absolutely no perfect ratio between base vs. incentive compensation. Here are the variables and some rules of thumb.
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The fastest marathon runner used shoes costing $300 and is 2X as fast as an intermediate runner. The fastest 100-mile bicycle time is about 2.5X faster than the fastest marathon runner, going nearly 4X as far. Contractor and career growth is similar.