WEIFIELD Q4 STRATEGIC UPDATE VIDEO!
Excited to announce our brand-new Q4 Strategic Update video from Weifield’s CEO, Seth Anderson!
In this video, Seth discusses our current company ‘stones,’ strategic goals – and our direction for the future (Seth will be rolling these strategic update videos out each quarter from here on out, so stay tuned for more as we go!).
Please ensure you read the FAQs, below, for further detail on our strategic goals, terminology, and what these initiatives mean to the company.
To head straight to it, CLICK HERE to view the video!
QUARTERLY STRATEGIC UPDATE FAQs
- What is the Weifield Way?
- The Weifield Way is our construction process from project award through project completion, including project turnover, pre-job planning, daily huddles, short term schedules, labor productivity reporting, master list meetings, job progress meeting, gross margin reporting, exit strategies, post job review, and service department turnover.
- How are we going to increase productivity by 5% (*Stone #2)? How are you going to hold people accountable?
- We have to get the information first, which is why we switched to Procore; Procore will track quantities installed vs. our budget. This will give us the data to find out where we should be spending our time.
- The Construction Managers will be holding their teams accountable and give constructive feedback on areas that need improvement in order to reach our goal.
- There will be many other things that will come into play as we develop the plan.
- Who is Tim Markham?
- He is Weifield’s new COO. He was put in place as our ‘Integrator’ — and what is an integrator? An Integrator is the person who is the tie-breaker for the Leadership Team, is the glue for the organization, holds everything together, beats the drum (provides cadence), is accountable for the P&L results, executes the business plan, holds the Leadership Team accountable, and is the steadying force in the organization.
- Are the Q4 Stones focused on all locations (Colorado and Texas)?
- Tim’s initiatives are focused on all locations. We want all of our locations to know and understand the importance of the Weifield Way process and for all locations to have the right people in the right seats.
- Pete’s initiatives are focused on Colorado Operations; productivity tracking and construction management promotion are needed for Colorado. Texas will be reviewing if they need to make any adjustments, but for now we know there are things that need to happen in Colorado.
- Do we know the number of Construction Managers that we need?
- We do know the number of CM’s that we need, however this changes as the project needs change. There are some potential candidates that have communicated interest in the position, so we will be reviewing them for strengths and weaknesses. When we are completed with the internal search, we will seek external talent. We strive to hire all of our CM’s from within, but sometimes externally hiring is needed when we have high job volume.
- What is our year-end sales goal?
- In construction, sales goals are moving targets (nothing is static). We want to make sure we hold a consistent workflow, which affects the amount of people resources we need.
- How can Weifield help Tim and Pete get the four stones accomplished this quarter?
- These stones (initiatives) are company Tim and Pete have taken ownership to drive these initiatives, but it requires all hands on deck from everyone in the organization to help with the execution of the stones, as these will take priority.
- What is the Weifield One-Line?
- The one-line is what we call an accountability chart. This is different from an org chart; an Accountability Chart is a visual representation of our company’s strategy. It demonstrates who needs to do what to make the company function as a team. The goal is for each position to have no more than 4-5 accountabilities and no duplicative duties. This is not a communication chart.
- What is the parking lot?
- The parking lot is made up of company issues, which is an unresolved problem, idea, or opportunity. Issues fall into two categories: long-term and short-term. If it’s long-term (meaning it does not have to be solved this quarter), we put it on the parking lot issues list and get it out of our consciousness to help free up our mind. If it’s short-term (meaning it must get solved this quarter), we put it on our weekly leadership team Level 10 Meeting issues list.
- Weifield Blueprint: A tool to help simplify the strategic planning process, getting the vision out of our heads and onto paper by answering eight questions — 1) Our Values, 2) Our Why, 3) Our What, 4) Our When, 5) Our Marketing Strategy, 6) Our 1000-Day Plan, 7) Our 365-Day Plan, and 8) Our Quarterly Plan — in order to crystallize where our organization is going and how we will get there.
- Stone: Is a priority (key initiative) that will take more than 14 days and must get done this quarter.
- L-10 Meetings: 90-minute meeting for our leadership team that rates initiatives on a scale of 1-10 for productivity and effectiveness. It is designed to help our leadership team create a consistent rhythm and keep the company focused on the vision.