Prioritizing is about sequencing. Optimizing is about balance. Both are defined by your values, strategies, and objectives. Both are constrained by your finite resources including talent and capital. Start by knowing what you are optimizing for.
There is a beautiful tension in leadership teams that is required for growth. That tension shifts with different stages of a market's growth and must be integrated with the contractor's stage of growth as a company.
Succession in any job role should be looked at like the USA Team in the Mixed 4x400 Relay Race at the 2024 Olympics. This is especially true for ownership transitions for construction contractors. Learn more about this 4-step process.
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.
Building a project and a construction business definitely requires heroic efforts at times, but full-time superheroes stifle growth, introduce risks, and rarely make for smooth successions.
Having the right ratio of internal promotions and external recruits at different levels of the company is critical for growth and succession. Use these target ratios, rationale, and qualifiers to evaluate your Talent Value Stream (TVS).
Taking an objective look at your current-state organizational structure and the people in each role forms the foundation for your recruiting, development, and business planning.
Planning for a 50% organizational structure is valuable both for contingency planning and for highlighting growth opportunities. Constraints breed creativity, and there is no greater constraint than talent.