There are less than 10 weeks until the end of the year. This is a major cause of concern for construction business owners, general managers, and other leaders in the industry. It is a worrisome issue for construction companies because projects will always finish off. And companies will always need to look for new work. It’s a business activity that you and your organization need to continuously do.
But why do you never get ahead?
The construction sector is unique because things are always changing. Contractors change, the people we deal with change, projects change, and customers change. There are no two projects that are entirely the same. It may be similar in certain aspects, but they are never exactly alike.
Considering that change is the one thing that is constant for this sector, there are many reasons why companies have a challenging time getting ahead of the pack.
Businesses can usually get so caught up with their daily business activities. They can get so occupied with fighting fires on a regular basis that they are not able to look ahead or get ahead of the cycle. Schedules for projects are also unpredictable.
The awarding of new work can also be delayed which would cause internal issues leading your business to trail with or behind the rest of your competitors. These delays can cause you to not be able to bid for a new project.
Lastly, for a lot of owners in this sector, selling the whole business development aspect doesn’t come naturally. And if that isn’t challenging enough, there is a constant battle between competitors for our industry.
But despite these obstacles, winning new work should not be ignored for the very survival of your organization. Also, your business needs to constantly remember the proper evaluation of investing in beneficial assets and the utilization of various available equipment for your company.
Here are 6 things that your business can work on to win new work.
- Engage with your current clients. Seek feedback from them and understand how you can help them.
- Reach out to your past clients as well. Get their feedback on your past performance and their experience with working with your business. Evaluate the information you’ve gathered and adjust your processes accordingly.
- Identify your potential clients and start reaching out to them. Don’t be afraid to extend your hand to new people or new customers.
- Be clear with what your business does and how your potential clients will benefit from contracting your business for their required work to be completed.
- Make sure your documentation is always current and accessible. Don’t leave it to the last minute and don’t hide them in stacks of boxes where you would have to fish for them again. It is not efficient, and it will cause you more problems in the long run.
- Follow-up and take action with your potential clients. Most of the time, clients won’t make the first step in creating a relationship with their contractors. Take the first step in following-up and make sure you and your business go above and beyond what your clients need and expect.
Winning new work is a vital component for any business to survive let alone succeed. It is a constant battle and a constant activity. It shouldn’t be pushed aside because you are too occupied with the challenges right in front of you. It should always be running in the background. Other than that, you can take advantage of and use the 6 tips I mentioned above.
Shivendra helps construction companies and contractors win more projects and grow profitably. Regarded as a master of practical implementation, Shivendra has guided organizations such as Downer and Siemens as well as smaller contractors to achieve double-digit improvements to their bottom line. Underpinning his extensive industry experience are qualifications in engineering and a Ph.D. focused on rapid cost improvement techniques. He is the author of two books, The Competitive Contractor and From Paper to Profit, host of the Competitive Contractor podcast, and the founder of Shivendra & Co and The Constructors Network. You can find more about Shivendra & Co on www.shivendra.com.