Mike Trammell
Measuring What Matters for Subcontractors
As a partner in DHG’s construction and real estate practice, I often hear the same concerns from subcontractors all over the Southeast:
“There are so many jobs out there. How do I choose what to consider?”
“I can’t find enough qualified workers.”
“Where can I direct my focus in order to manage my subcontracting business?”
Admittedly, these are tough questions to answer. However, by asking to right questions, subcontractors can evaluate and determine for themselves the unique strategy, tools and benchmarks that they need for success. That’s why I pose the following questions for subcontractors in my presentation for the American Subcontractors Association of the Carolinas (ASAC):
- What are your value drivers?
- What may constrict the optimization of those values?
- What measurable goals can you set to target improvements?
- Where is your company currently on these goal items?
- Finally, how do I get from where I am now to where I want to be?
Since every contractor is unique, there are no silver bullets or a one-size-fits-all approach to setting and meeting your benchmarks. However, by asking the right questions, we can determine strategic objectives for the future and develop a plan to get there by appropriately assessing our performance and risk indicators.
