Observe, Hypothesize, and Experiment

Contractors would run much better including improved field productivity if they applied the simple lesson we all learned around middle-school science class:

D. Brown Management Profile Picture
Share
Quote: Stop debating and start experimenting. Because if you don't run experiments you can't learn. Adam Grant from Power Moves.

The Scientific Method:  

  1. Make an observation
      
  2. Ask questions about the observation and gather information

  3. Form a hypothesis about what created the outcome and make predictions about the future state based on the hypothesis

  4. Test the hypothesis in an experiment that can be reproduced

  5. Analyze the data from the experiments that either validates or invalidates the hypothesis

  6. Reproduce the experiment until there are no discrepancies between observed results and theory

Experiments are hard to run in complex environments like a construction company.  That does not mean that you should not attempt to make the best observation, hypothesis, and experiments you can for a given situation.  

Adam Grant talks with the CEO of Goldman Sachs in the book Power Moves about experimentation in what works best for recruiting and retention. 




Incentive Compensation for Contractors - Audience Question: Higher Base Compensation?
There is absolutely no perfect ratio between base vs. incentive compensation. Here are the variables and some rules of thumb.
Retirement Onboarding - Future Vision for Your Company
Owners have the unique position of having both the luxury and the responsibility of making sure that their vision for the company is the future vision of the company.
Issue 5 of 9: Cash Generation
Construction Ownership Transition Issue 5 of 9: Does the Business Generate Enough Free Cash Flow to Make the Transition Equitable for All Parties? Review examples and play "what-if" based on your business.